Corporate/Finance: Page 17

  • Ford Oakville Electric Vehicle Complex.
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    Courtesy of Ford Canada
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    Ford targeted by Unifor in Big Three negotiations

    After the union reaches an agreement with Ford, it will use that contract to renegotiate with General Motors and Stellantis.

    By • Aug. 30, 2023
  • A Future Made in America sign is seen as U.S. President Joe Biden stands in a manufacturing demonstration area at United Performance Metals on May 6, 2022 in Cincinnati, Ohio
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    Jon Cherry / Stringer via Getty Images
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    Inflation Reduction Act: mapping the manufacturing law’s impact 1 year later

    Investments focused on electric vehicle or battery manufacturing represented more than 60% of the publicly announced projects linked to the IRA.

    By Kate Magill , • Aug. 28, 2023
  • Electric vehicles at an EV charging station.
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    EXTREME-PHOTOGRAPHER via Getty Images
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    California clean vehicle rebate program expands statewide

    The state's rebate incentives will help lower-income consumers access electric and fuel-cell vehicles.

    By Dan Zukowski • Aug. 28, 2023
  • United Auto Workers President Shawn Fain at the Stellantis Sterling Heights Assembly Plant in Michigan.
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    Bill Pugliano/Stringer/Getty Images North America via Getty Images
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    UAW members overwhelmingly approve strike at GM, Ford, Stellantis

    The United Auto Workers said 97% of the 150,000 union workers employed by the Big Three voted to walk off the job if the sides can’t make a deal.

    By • Aug. 25, 2023
  • 2023 Kia EV6 GT.
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    Courtesy of Kia America
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    Looking for a cheap new car? Leasing an EV may be your best option, study says

    New car shoppers can save up to $500 per month by leasing an electric vehicle instead of comparable gas-powered vehicles, an Energy Innovation Policy & Technology report found.

    By • Aug. 25, 2023
  • Car dealership.
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    Mario Tama/Staff/Getty Images News via Getty Images
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    US new vehicle sales up 15.4% in August: J.D. Power

    Retail sales of new vehicles will reach nearly 1.4 million this month, J.D. Power and GlobalData said.

    By • Aug. 25, 2023
  • United Auto Workers President Shawn Fain speaks with General Motors workers.
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    Bill Pugliano/Stringer/Getty Images News via Getty Images
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    UAW strike would have domino effect on suppliers

    Many auto suppliers, already experiencing economic instability, are unprepared for a strike and may turn to layoffs to deal with a work stoppage.

    By Kalena Thomhave • Aug. 22, 2023
  • A graphic of a Continental air suspension component on the right front of a vehicle.
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    Courtesy of Continental AG
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    Continental may sell ContiTech amid electric vehicle shift: report

    ContiTech, which makes industrial and automotive rubber, plastic, metal and fabric components, posted sales of about $7.2 billion in 2022.

    By • Aug. 22, 2023
  • Zachary Kirkhorn
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    Retrieved from Tesla via YouTube on August 11, 2023
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    Is Tesla’s ‘Master of Coin’ the CFO white whale?

    Zachary Kirkhorn’s sudden exit from the EV maker has sparked questions around what a second act might look like for a 38-year-old ex-CFO with a net worth of $590 million.

    By Maura Webber Sadovi • Aug. 16, 2023
  • A blue Tesla Model S sedan on the highway.
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    Courtesy of Tesla Inc.
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    Tesla launches lower-priced Model S, X versions

    The automaker has cut electric vehicle prices multiple times since last year, but CEO Elon Musk said in July that the company would sacrifice its margins to drive volume growth.

    By • Aug. 16, 2023
  • Ford Integrated Services President Peter Stern
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    Permission granted by Ford Motor Co.
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    Ford hires Apple vet to lead new software services group

    Peter Stern will lead Ford Integrated Services, which aims to expand offerings related to the automaker’s BlueCruise hands-free driving system.

    By • Aug. 15, 2023
  • Cars parked outside a Honda dealership.
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    Scott Olson via Getty Images
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    Honda’s US sales spur 78% leap in Q1 profits as supply chain disruptions ease

    The carmaker delivered nearly 45% more vehicles in the United States from April to June but saw sales declines in China.

    By • Aug. 10, 2023
  • A red Rivian R1T pickup parked in front of a Rivian service center.
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    Justin Sullivan via Getty Images
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    Rivian boosts production by 50% in Q2

    Electric vehicle deliveries grew by 50% while gross profit per vehicle improved by roughly $35,000 as the company increased cost efficiencies across all major categories.

    By • Aug. 9, 2023
  • Christopher Yang, the new president and CEO of Toyota Connected North America.
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    Courtesy of Toyota Motor Corp.
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    Toyota shakes up data, software leadership as it revamps EV plans

    The automaker promoted Christopher Yang to president and CEO of Toyota Connected North America.

    By • Aug. 7, 2023
  • A sign is posted in front of a Tesla service center on April 20, 2022 in Fremont, California.
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    Justin Sullivan via Getty Images
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    Tesla CFO resigns after 13 years at the company

    The automaker’s chief accounting officer, Vaibhav Taneja, took over on Aug. 4, replacing Zachary Kirkhorn. 

    By • Aug. 7, 2023
  • Former Waymo CEO John Krafcik speaks during the opening keynote address at Google I/O in 2018
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    Justin Sullivan via Getty Images
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    Former Hyundai Motor America, Waymo CEO John Krafcik joins Rivian’s board

    The industry veteran has considerable experience with manufacturing and automotive technology, including autonomous vehicles.

    By • Aug. 3, 2023
  • A Tesla car recharges its battery at the Petaluma Supercharger on March 09, 2022 in Petaluma, California.
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    Justin Sullivan / Staff via Getty Images
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    Tesla owners allege false advertising over EV ranges in class-action lawsuit

    If the court approves the suit, people in California could join it, potentially exposing the automaker to significant legal risk.

    By • Aug. 3, 2023
  • Subaru Solterra all-electric SUV.
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    Scott Olson/Staff/Getty Images News via Getty Images
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    Subaru has a more aggressive EV plan

    The automaker aims to boost global battery-electric vehicle sales to 50% by 2030.

    By • Aug. 2, 2023
  • Renderings showing Kenworth T680 and Peterbilt 579 Hydrogen Fuel Cell Trucks, which have initial customer deliveries slated for 2024.
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    Courtesy of Paccar
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    Paccar projects boost in production for 2023

    Despite lingering supply chain issues, the OEM aims to build at least 290,000 Class 8 trucks for the U.S. and Canada.

    By David Taube • Aug. 2, 2023
  • Rivian Chief Policy Officer Alan Hoffman.
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    Retrieved from Rivian Automotive on August 01, 2023
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    Former Carvana exec joins Rivian as chief policy officer

    Alan Hoffman is filling a similar role vacated by Jim Chen, who left in February along with other high-profile exits.

    By • Aug. 1, 2023
  • Mercedes-Benz trains more than 600 data and AI specialists worldwide in 2023.
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    Permission granted by Mercedes-Benz AG
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    Mercedes-Benz invests over $2.2B in AI reskilling

    The carmaker is offering data and digitalization training to over 600 employees as auto manufacturing modernizes.

    By • Aug. 1, 2023
  • An aerial view of Tesla's factory in Fremont, California.
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    Justin Sullivan via Getty Images
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    Ex-Tesla employees report layoffs on LinkedIn

    An employee posted on the professional networking site that the cuts were part of an “org restructuring.”

    By • Aug. 1, 2023
  • The VinFast VF 9 electric SUV on display at the New York International Auto Show in 2022.
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    Michael M. Santiago via Getty Images
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    EV startup VinFast plans US public listing in August

    The Vietnam-based automaker aims to expand its U.S. business and invest up to $4 billion to assemble electric vehicles and battery packs at its North Carolina factory.

    By • July 31, 2023
  • A Ford F-150 Lightning electric pickup on the road.
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    Courtesy of Ford Motor Co.
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    Ford expects to lose $4.5B on EVs in 2023

    The automaker will focus on fewer, higher volume models in popular segments, such as pickups and full-size SUVs, for its next generation of electric vehicles.

    By • July 28, 2023
  • Renault Fluence Z.E. and Nissan LEAF
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    Courtesy of Renault Nissan Mitsubishi Alliance
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    Nissan, Renault overhaul their alliance

    The two companies will keep a 15% stake in each other, with Renault Group transferring 28.4% of its Nissan shares to a French trust.

    By • July 27, 2023