Tag: automotive industry news

Nissan Is Considering a Small Electric Pickup Truck for the US

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Report: Nissan Considering a Small Electric TruckNissan Nissan currently only sells the mid-size Frontier and the full-size Titan on American shores. With the Titan struggling to sell even half as well as domestic pickup-truck stalwarts such as the Ford F-150 and Chevy Silverado 1500, it’s only a matter of time until Nissan puts its half-ton truck and heavier-duty XD sibling out to pasture. However, a report by Automotive News suggests the Japanese automaker is considering building a small electric pickup for the US that might not only help offset the Titan’s inevitable death but also appeal to new types of…
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McLaren’s electric SUV must wait for better battery tech

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SUVs have given ultraluxury companies a solid revenue boost. For example, in the first quarter, the Bentayga SUV accounted for 42 percent of Bentley sales, while the Lamborghini Urus accounted for over half the brand’s sales in the same period. McLaren Automotive Group’s loss increased to 335 million pounds ($433 million) in 2022, up from a 136 million pound loss a year earlier as the company struggled to roll out its core Artura V-6 plug-in hybrid model amid supply chain constraints. The Artura is still facing delays in the US, McLaren’s largest global market. McLaren sold 2,188 cars in 2022,…
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Stellantis EV battery plant construction resumes

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Dong-Myung Kim, president and head of the Advanced Automotive Battery Division of LG Energy Solution, called it “a good day not only for our joint venture but also for Canada.” “We are happy to finally move forward with building the country’s first major battery plant and become a central part of the local battery ecosystem,” Kim said in the same statement. “We are grateful to the federal and provincial governments for working together, and to everyone who worked tirelessly to get this deal done.” Danies Lee, CEO of NextStar Energy, said the company “can now focus on what we do…
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Nissan Mexico head Jose Roman appointed new global Infiniti chief

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TOKYO – Struggling Infiniti is getting a new global brand chief with the appointment of Jose Roman, Nissan’s most senior executive in Mexico and Latin America. Roman, a native of Ecuador, joined Infiniti parent Nissan Motor Co. in 2012 and has more than 25 years of automotive experience in such markets as Mexico, Colombia, Brazil and Japan, the company said in a June 1 news release announcing his promotion. He is managing director of Nissan Mexico and of the Nissan Importers Business Unit, which oversees 34 markets throughout Latin America. Infiniti’s newest leader starts July 1 and will be based…
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REE Automotive Announces First Quarter 2023 Financial

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TEL AVIV, Israel, May 23, 2023 (GLOBE NEWSWIRE) — REE Automotive Ltd. (NASDAQ: REE) (“REE” or the “Company”), an automotive technology leader and provider of electric vehicle (EV) platforms, today announced its financial results for the first quarter ended March 31, 2023, through a shareholder letter posted on the company’s investor relations website at https://investors.ree.auto. The company will also hold a conference call today, May 23 at 8:30 am ET. The live webcast of the conference call can be accessed on the Investors section of the Company’s website. Click here for webcast URL. For the telephone conference online registration, click…
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New Toyota CEO touts a three-step plan to EV profits and productivity

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From now on, Toyota enters the second phase, when it will quickly incorporate learnings and improvements from those EVs into forthcoming model introductions. That stage will last until around 2026, when Toyota will have built up enough capacity to sell some 1.5 million EVs globally. The third phase kicks off in 2026, when Toyota introduces a completely new EV platform along with its Arene software system for cars. That will allow Toyota to leverage a new vehicle software system to unlock new revenue streams, business models and hyper-efficient product development cycles. The new setup being developed will enable Toyota’s future…
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Reynolds and Reynolds acquires DealerCorp Solutions

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Dealership management system giant Reynolds and Reynolds has acquired DealerCorp Solutions, a Canadian software company and partner focused on providing digital retailing tools to dealerships. Neither side disclosed financial terms. The acquisition, which was finalized Friday, builds on a relationship between the companies dating to 2021 and will help Reynolds grow its presence in Canada. It also represents another step toward building a fully digital process for auto retailers, Reynolds said in its Monday announcement. “Both sides agreed that joining forces was the next logical step to help our customers succeed,” Scott Santana, Reynolds’ executive vice president of product management,…
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