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…
Tag: automotive industry news
Reynolds and Reynolds acquires DealerCorp Solutions
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….
Nissan Is Considering a Small Electric Pickup Truck for the US
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…
McLaren’s electric SUV must wait for better battery tech
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…
Stellantis EV battery plant construction resumes
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,”…
Nissan Mexico head Jose Roman appointed new global Infiniti chief
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…
REE Automotive Announces First Quarter 2023 Financial
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….