Toyota’s financial arm to pay $60M for illegal lending, credit reporting misconduct

The Consumer Financial Protection Bureau said Toyota Motor Credit Corporation withheld refunds, refunded incorrect amounts and provided false data to consumer reporting companies.

By Michael Brady • Nov. 20, 2023

LG Energy Solution to lay off 170 in Michigan

The company said slower-than-expected EV demand contributed to the cuts.

By Kate Magill • Nov. 20, 2023

Cruise CEO resigns amid safety probes into company’s robotaxis

The company’s robotaxi fleet remains grounded in California after one of the vehicles struck a pedestrian in downtown San Francisco in early October.

By Eric Walz • Nov. 20, 2023

Subaru to raise wages after similar moves by nonunionized automakers

The decision impacts Subaru’s sole U.S. assembly plant in Lafayette, Indiana, which employs over 5,600 workers and currently builds the Ascent, Crosstrek, Legacy and Outback models.

By Eric Walz • Nov. 20, 2023

Hyundai, AWS design training, certification program for critical cloud skills

The third-largest carmaker will migrate on-premise applications and leverage jointly designed tech training programs. 

By Lindsey Wilkinson • Nov. 17, 2023

UAW ratifies labor agreements with Ford, Stellantis

The United Auto Workers union says 64% of voting members across General Motors, Ford and Stellantis approved the landmark labor agreements.

By Michael Brady • Updated Nov. 20, 2023

Goodyear CEO to retire as tiremaker overhauls corporate strategy

The company’s transformation plan includes exploring strategic alternatives for its Dunlop brand and chemical and off-road tire businesses, which it hopes will raise over $2 billion in gross proceeds.

By Michael Brady • Nov. 17, 2023

EG Group buys Tesla hardware for European charging network

This is the second time Tesla has sold its ultra-fast EV chargers to the convenience store industry. The automaker struck a deal with BP in October.

By Jessica Loder • Nov. 17, 2023

UAW members vote to approve GM labor deal despite opposition

Nearly 55% of autoworkers represented by the United Auto Workers at General Motors voted “yes” to approve the deal, but 13 facilities rejected it.

By Michael Brady • Nov. 16, 2023

UAW strike had little impact on new car prices, Kelley Blue Book says

Transaction prices rose significantly for some strike-affected brands such as Chevrolet, Chrysler and Dodge, while Ford, Jeep and Ram saw drops as those brands boosted incentives.

By Eric Walz • Nov. 15, 2023

Stellantis offers buyouts to 6,400 employees after UAW deal

The buyout offers are being sent to more than half of the automaker’s 12,700 salaried employees in the U.S. with at least five years of corporate service. 

By Eric Walz • Nov. 14, 2023

Continental to lay off thousands of automotive employees in restructure

The supplier plans to cut automotive spending by over $400 million annually as it restructures its business amid the transition to electric vehicles.

By Michael Brady • Nov. 13, 2023

Honda raises production worker wages by 11% after Toyota pay bump

The automaker’s decision follows the historic pay raises the United Auto Workers won from the Big Three to end the recent strike.

By Eric Walz • Nov. 13, 2023

EV sales are rising. So why are automakers nervous?

Slower sales growth, lower prices and growing inventories have spooked carmakers, leading some to reconsider their electric vehicle plans to bolster their finances.

By Michael Brady • Nov. 9, 2023

Lucid Group names Marc Winterhoff as first-ever COO

The EV startup named a chief operating officer after reducing its full-year production guidance to adjust to dwindling demand for its Lucid Air sedan.

By Eric Walz • Nov. 8, 2023

Installing AM radio in EVs could cost automakers $3.8B

The costs stem from mitigating electromagnetic interference caused by electric vehicle propulsion systems, a Center for Automotive Research report says.

By Michael Brady • Nov. 8, 2023

Hyundai’s EV manufacturing campus draws 3 more suppliers to Georgia

The latest auto parts manufacturing investments will help supply the automaker with armrests, headrests, chassis and body parts, and seat frames for electric vehicles.

By Sara Samora • Nov. 7, 2023

Autoworkers in Canada approve labor agreement with Stellantis

The three-year collective bargaining agreements cover about 8,200 autoworkers, including two assembly plants in Windsor and Brampton, as well as the Etobicoke Casting Plant.

By Michael Brady • Nov. 7, 2023

Fisker CTO resigns, automaker names David King successor

He will lead the automaker’s engineering and software teams.

By Michael Brady • Nov. 7, 2023

GM to invest another $2B in EVs under UAW deal

The additional funds are part of the automaker’s plans to invest more than $13 billion in electric and internal combustion vehicle production in the U.S.

By Michael Brady • Nov. 6, 2023

UAW takes aim at Toyota after historic agreements with the Big Three

The union plans to use its new agreements with the Big Three to court non-unionized autoworkers, including those working for Toyota.

By Eric Walz • Nov. 3, 2023

Epsilon Advanced Materials to build $650M graphite anode facility in North Carolina

The plant will start producing high-capacity anode materials in 2026 and use green technologies to make enough materials to power 1.10 million electric vehicles by 2030.

By Joelle Anselmo • Nov. 3, 2023

Hyundai reorganizes design units and names new chief design officer

Hyundai, Kia and Genesis will retain separate design leadership to ensure product differentiation among the brands.

By Eric Walz • Nov. 2, 2023

Stellantis lost $3.2B to UAW strike

The automaker said the strike reduced vehicle shipments by 50,000 units in September and October, which led to the revenue drop.

By Eric Walz • Nov. 1, 2023

Tesla wins lawsuit over deadly Autopilot crash

A jury found the system had no manufacturing defect but did not consider whether it had a design defect.

By Michael Brady • Nov. 1, 2023