Tag: us automotive industry news

Ford to alter China strategy, Farley says

By on May 7, 2023

Farley said the region remains key to Ford. “We believe that not only is it the biggest EV market in the world, but customers digitally are ahead of the rest of the world, and so it’s a really important market for us,” he said. “And what we really see in our presence there is battery technology, digital experiences for the customer and advanced products, both software and hardware integrated.” Earlier this year Ford shook up its China leadership team, promoting Sam Wu to CEO following the retirement of Anning Chen. Wu previously served as managing director and COO. Chen became…

Robotaxi companies like Cruise, Waymo, Baidu seek scale

By on May 2, 2023

Robotaxis operate like ride-hailing services. Both incorporate data analytics to determine where rides will be needed, maximizing the utilization of their platforms. Customers hail them via apps. The similarities end there. “It is an entirely different business than ride-hailing,” said Alisyn Malek, CEO of consulting firm Middle Third and former COO of self-driving tech startup May Mobility. Unlike Uber and Lyft, which rely on independent drivers who own and maintain their own vehicles, robotaxi providers must account for vehicle ownership and maintenance costs, whether they absorb themselves or partner with fleet management companies. That business is inclined to conventional taxi…

Leasing a Nissan Leaf just got cheaper

By on April 30, 2023

Nissan was an early proponent of local sourcing for the Leaf, when it constructed a dedicated battery plant next to its Smyrna vehicle assembly that produced its own battery cells. Japanese supplier Envision AESC now operates that battery production center on the Smyrna site. But now, to qualify for the full $7,500 federal tax credit, at least 40 percent of the value of the EV battery’s critical minerals must be extracted or processed in the US or in a country where the US has a free-trade agreement, or from materials recycled in North America. In addition, at least half of…

Ford Oakville plant’s switch to EVs will start in 2024

By on April 15, 2023

Ford Motor Co. on Tuesday said the previously announced $1.3 billion transformation of its Oakville Assembly Plant for electric vehicle manufacturing will begin in the second quarter of next year and take about six months to complete. During that time some of the 3,000 workers at the Ontario, Canada, the site will be furloughed, although the company expects to retain virtually all of the employees when the plant comes back online at the end of 2024. Ford said the site, which currently builds the gasoline-powered Edge and Lincoln Nautilus crossovers, will be renamed the Oakville Electric Vehicle Complex and include…

EV startups are burning through cash. Can they attract more investment?

By on March 17, 2023

In September 2020, Hindenburg Research released its report on Nikola, saying it was “an intricate fraud.” The company acknowledged a truck appearing to cruise down a desert road under its own power in a video was not. The SEC launched an inquiry. Ultimately, Trevor Milton, Nikola’s founder, was convicted of fraud. Nikola settled with the SEC for $125 million. In 2021, J Capital Research published a report calling Faraday Future “nothing but a bucket to collect money from US investors and pour it into the black hole of debt created by its founder.” A company spokesperson said “the substantive allegations…