Corporate/Finance: Page 22

  • A Freightliner eCascadia at Electric Island
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    Courtesy of Daimler Trucks North America
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    Cummins, Daimler, Paccar partner on $3B US battery plant

    The three trucking OEMs are forming a joint venture to produce LFP batteries in the country, as demand for clean energy continues to grow.

    By • Sept. 6, 2023
  • Kjell Gruner, Rivian Automotive's chief commercial officer.
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    Permission granted by Rivian Automotive
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    Rivian hires former Porsche Cars North America CEO

    Kjell Gruner will serve as the electric vehicle maker’s chief commercial officer.

    By • Sept. 6, 2023
  • Chris Paukert, senior group manager of product public relations for Hyundai Motor North America.
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    Courtesy of Hyundai Motor North America
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    Hyundai adds Chris Paukert to public relations team

    The former journalist recently left his position at car-shopping website Edmunds.com.

    By • Sept. 5, 2023
  • An orange robotic arm working on a black hydrogen storage tank in a white and gray facility.
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    Courtesy of Michigan Economic Development Corp.

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    Plastic Omnium invests in two hydrogen vehicle sites in Michigan

    The $171 million investment follows the auto parts manufacturer's $2 billion order from a major U.S. automaker earlier this year.

    By • Sept. 5, 2023
  • Four people sitting at a table signing documents and a glass of wine in front of them.
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    Courtesy of Hyundai Motor Group.

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    Hyundai, LG Energy to invest additional $2B in Georgia battery cell plant

    The latest investment adds to the $4.3 billion commitment announced in May and will create 400 more jobs.

    By • Sept. 5, 2023
  • UAW president Shawn Fain speaks with Stellantis workers at the automaker's Sterling Heights Assembly Plant in Michigan on July 12, 2023
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    Bill Pugliano via Getty Images
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    UAW accuses GM, Stellantis of unfair labor practices

    The union filed an unfair labor practice complaint with the National Labor Relations Board over its contract talks with the two automakers. However, it did not file a complaint against Ford.

    By • Sept. 1, 2023
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    Drew Angerer/Getty Images via Getty Images
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    Energy Department announces $15.5B to support EV transition, grow domestic battery manufacturing

    The Biden administration is rejecting “the false choice between a good job and a green job,” United Auto Workers President Shawn Fain said in a statement.

    By Robert Walton • Sept. 1, 2023
  • Polestar 3 prototype.
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    Courtesy of Polestar Automotive
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    Polestar Q2 vehicle deliveries up 36%

    Fewer supply chain disruptions and lower raw material costs helped the electric automaker post a 16% year-over-year increase in revenue.

    By • Aug. 31, 2023
  • 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 , • 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