Category: Automotive News

The UK expects a deal on EU ‘rules of origin’ for EVs

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The UK and the European Union will “soon” announce a solution on post-Brexit trading rules that automakers warn could lead to factory closures, Business and Trade Secretary Kemi Badenoch said. “This is not a UK problem, it is an EU-UK problem. It works both ways,” Badenoch told Bloomberg on Tuesday on the sidelines of the Qatar Economic Forum in Doha. “We should see an answer soon.” Stellantis this month warned that British car plants would close with the loss of thousands of jobs if the issue was not addressed. Ford called for post-Brexit EU trade requirements on rules of origin…
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US judge throws out lawsuit against Elon Musk over Twitter

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A judge dismissed a proposed class-action lawsuit against Elon Musk that claimed he cheated Twitter shareholders several times last year in the course of buying the social media company for $44 billion. In a decision on Monday, US District Judge Charles Breyer in San Francisco said plaintiff William Heresniak lacked standing to sue because he challenged “wrongs associated with” Musk’s buyout, not the fairness of the buyout itself. Breyer said Heresniak did not show harm from Musk’s belated disclosure of a 9.2 percent Twitter stake, which the suit said let him buy more shares at lower prices before the buyout…
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Plante Moran study: Auto suppliers in dark on EV plans

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The study captures North American automaker-supplier relations as parts makers navigate financial pressures stemming from inflation, unstable automaker production schedules, the shortage of microchips and rising interest rates. Those pressures, which began in late 2019 with the onset of COVID-19 and the UAW’s strike at GM, have tested relations between suppliers and their customers. Suppliers said there needs to be greater and more timely communication and transparency on short-term supply chain disruptions and on any changes in forecasting, Plante Moran reported. And it was found that many parts companies are frustrated by what they see as a disconnect between what…
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CarGurus COO: CarOffer digital wholesale platform remains solid

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Editor’s note: CarGurus said it has the right to buy the rest of CarOffer but has not made a final decision to do so. An earlier version of this story said the company planned to move ahead with that transaction. CarGurus Inc., which acquired a majority stake in CarOffer in 2021, might proceed with plans to buy the rest of the wholesale digital trading platform, a move that could be a show of confidence for the struggling division. And CarGurus COO Sam Zales said CarOffer is poised to break even or become profitable in the second quarter because of the…
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Ford, reversing course, to keep AM radio on all models

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Ford Motor Co. will keep AM radio in all 2024 Ford and Lincoln models and restore it on two electric vehicles via a software update, according to CEO Jim Farley. In a tweetFarley said the decision was made “after speaking with [U.S.] policy leaders about the importance of AM broadcast radio as a part of the emergency alert system.” The company removed AM radio from the Mustang Mach-E and F-150 Lightning and planned to discontinue it on all products moving forward. Farley said the company would look for other ways to deliver emergency alerts in the future. “Customers can currently…
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Auto industry, partners, researchers join the EV charging consortium

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The National Charging Experience Consortium has more industry involvement than other government-led consortia, Smart said. The industry has struggled with charging consistency and reliability for a number of reasons, including a lack of data sharing as automakers and charging companies are reluctant to share data with competitors. The national labs will keep members’ data confidential and provide an independent review of data from all participants, Smart said. Industry participation is critical to scaling and validating EV charging infrastructure, Smart said. “Our goal is to produce solutions that the industry buys into and can immediately implement to overcome barriers to charge…
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Gentex auto supplier hit by ransomware attack

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According to TechTarget, a Dunghill operator reached out with a link to what the group claims is 5 terabytes of sensitive corporate data from Gentex, including client documents and personal employee information. The report indicated Dunghill posted the stolen information on the dark web as well as shared data with unspecified foreign and domestic manufacturers after Gentex “refused to cooperate.” Threats against companies in the manufacturing industry have become more prevalent and more costly as of late. According to an annual report from IBM, the cost of a data breach for the industrial sector — which includes chemical, engineering and…
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Construction of Stellantis EV battery module plant remains at stand still

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Ford said May 19 that his government would offer more support. “I will confirm we’re putting more money on the table,” he said after an unrelated announcement in St. Catharines, Ont. “This is all about saving jobs and giving people the quality of life they deserve in southwestern Ontario.” The premier wouldn’t provide details on the additional amount of funding the province is prepared to provide. A Stellantis spokesperson on May 23 said the company has “no new comments or statements at this time.” “Construction remains stopped for the module building.” The plant, expected to employ 2,500 people and slated…
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