by Michael Strong | Aug 4, 2020
Ford announced CEO Jim Hackett will retire this fall with newly appointed COO Jim Farley taking on the role after the departure. Hackett, 65, came to the automaker in May 2017 after a lengthy career as the top executive at Steelcase in Grand Rapids succeeding Mark...
by Michael Strong | Aug 3, 2020
General Motors Co. has asked the federal judge that dismissed its lawsuit against Fiat Chrysler Automobiles N.V. to reinstate the lawsuit, claiming it has new evidence. The automaker asked Judge Paul Borman to reconsider his earlier judgement on the alleged...
by Michael Strong | Aug 3, 2020
Ferrari officials offered an optimistic look ahead despite a difficult second quarter when its net income fell 95% and deliveries fell by nearly half. The Italian sports car maker said that despite the tough quarter, induced by the global COVID-19 pandemic, the...
by Michael Strong | Aug 3, 2020
The steady stream of EV makers looking to go public to raise funds got another player: Lordstown Motors, which will merge with DiamondPeak Holdings, a shell company, to make the shift. The new public automaker, which will build electric pickup trucks aimed at...
by Joseph Szczesny | Aug 3, 2020
With the threat of “Big Tech” looming over its business, automakers of all sizes are scrambling to shore up their capability to compete in new areas that are likely to define the future of the auto industry. Toyota Research Institute – Advanced Development Inc., also...
by Joseph Szczesny | Aug 3, 2020
Detroit’s three automakers are stepping up their concentration on trucks and SUVs during the second half of 2020 even as the COVID-19 pandemic lingers and electric vehicles absorb an increasing share of their capital spending. Fiat Chrysler, which will soon go through...
by Michael Strong | Jul 31, 2020
Companies big and small have been touting “affordable” electric vehicles for years, and in the near tsunami of new models set to arrive on U.S. shores in the coming years, “affordable” doesn’t seem to be the descriptor one would attach to any of them. However, that...
by Michael Strong | Jul 31, 2020
The sun continues to shine on Ford, the automaker revealing Friday it received approval to defer some quarterly payments due on its U.S. Energy Department retooling loan. The automaker noted it will repay the loan on time by June 2022. Ford was awarded a $5.9 billion...
by Paul A. Eisenstein | Jul 31, 2020
General Motors is partnering up with EVGo, the operator of the country’s largest electric vehicle charging network in a push to make it easier for EV owners to charge up quickly and easily. The two partners said Friday that they plan to add 2,700 high-speed public...
by Paul A. Eisenstein | Jul 31, 2020
Kia already has begun electrifying its line-up and, like most competitors, it plans to roll out an array of new models during the next few years – including a flagship SUV first teased at the Geneva Motor Show in 2019. Now, what is known inside the South Korean...
by Joseph Szczesny | Jul 31, 2020
Fiat Chrysler Automobile N.V. financial results were “significantly” better than expected during the second quarter despite the losses the company suffered as its shipments to dealers dropped by two-thirds due to the impact of the COVID-19 pandemic The company...
by Michael Strong | Jul 30, 2020
Automaker after automaker has lined up and reported second quarter losses in the past several days, except Tesla — and now Ford Motor Co., sort of. Ford turned a Q2 profit, reporting $1.1 billion in net income on revenue of $19.4 billion. However, if you take out a...
