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...The company expected the factory to reach production of as many as 500,000 cars a year when it reached full capacity, the people said....
...It also owns assets including petrol station operator Motor Fuel Group and part of car windscreen repair company Belron. CD&R has explored the possibility of selling MFG....
...Letter in response to this article: Why carbon offsets are no answer to the climate crisis / From Grayson Badgley, Research Scientist, CarbonPlan, San Francisco, CA, US...
...Adrian Lewis, Inchcape’s chief financial officer, said there were several offers for its retail sites and following the deal, Inchcape would largely be a “pure-play” car distribution company....
...The job cuts come as the slowdown in sales of EVs makes waves across the global car industry, with companies across the supply chain from South Korea to Germany slashing jobs and costs....
...Cruise, the self-driving car subsidiary of General Motors, targeted annual revenues of $1bn by 2025. Last year, the business reported sales of just $102mn amid a $3.4bn loss....
...to research company Counterpoint....
...The decade-long effort to build a product that competes with the likes of Tesla and Rivian has never been officially confirmed by Apple, and a spokesman for the company declined to comment....
...Sales growth of electric cars has slowed in the past year, with carmakers increasingly forced to discount models in order to generate sufficient consumer demand, while companies from General Motors and Ford...
...The audit helped the carmaker to lose its “red flag” ESG rating by index provider MSCI On Wednesday, VW said that “various scenarios [were] currently being intensively examined” together with its joint...
...In 2017, the company was granted a licence to test autonomous cars in California. Soon after, the company hired Doug Field, Tesla’s former vice-president of engineering....
...Replacing him is Gil West, a former chief operating officer of Delta Air Lines and General Motors’ Cruise self-driving car unit....
...Daniel Kollar, an automotive expert at consultancy Intralink, said Tesla’s China performance had remained strong but the company faced challenges from local competition, a renaissance of hybrid cars and...
...Ironically, slack sales meant plenty of Monacos could be provided to Donald Nunley, the property master on the 1971 motor-racing film Le Mans, in which Hollywood star Steve McQueen wore one with his racing...
...Rivian went public in late 2021 with a market capitalisation of more than $100bn — bigger than Ford and General Motors....
...Autonomous vehicle safety has been in the spotlight since early October, when a robotaxi operated by Cruise, the General Motors driverless car division, collided with a pedestrian and then dragged the person...
...Still, Musk said high interest rates were hurting demand for the company’s cars as they swelled owners’ monthly car payments....
...Gil West, a former chief operating officer of Delta Air Lines and General Motors’ Cruise self-driving car unit, will be replacing him. Instead of enjoying a boom, Hertz is in trouble again....
...Start-ups developing future forms of transport such as space planes, drones and flying cars are emerging in central Japan’s Aichi prefecture, home to Toyota Motor and its suppliers, driven by a sense of...
...A record 1.2mn EVs were sold in the US in 2023, according to data from Kelley Blue Book, a research company. EVs made up 7.6 per cent of the domestic car market, up from 5.9 per cent in 2022....
...Pendragon, one of the UK’s largest automotive retailers, is to sell all of its car dealerships for £280mn and focus on software, ending a tumultuous period in which the company’s attempts to sell itself...
...The company has sought to capitalise on the shift to electric cars by developing ultrarapid charging hubs for these types of vehicles....
...For example, US carmaker General Motors has committed to selling only electric vehicles by 2035, presenting its legal team with many challenges....
...U-Power last month signed a deal to supply New York-based EV start-up Olympian Motors with its skateboards....
...This week the Italian car brand announced it will design yachts that can compete in international sailing competitions....
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