Automotive News

VW battery plant gets up to $13B in federal moneyVW battery plant gets up to $13B in federal money

April 29, 2023| 2:55 pm

Still, the size of the incentives is striking. The production support alone is expected to range from $8 billion to $13 billion over 10 years, depending on how much the plant produces and what happens with US policy. The contract is written so that Canada’s production subsidies will stay in place only as long as the Inflation Reduction Act is in force. If the US reduces its incentives for clean manufacturing, Canada’s will go down proportionally. On top of that, Canada is offering about $700 million in capital expense grants to Volkswagen through its Strategic Innovation Fund. [...]

JLR’s new identities: Range Rover, Discovery, Defender, JaguarJLR’s new identities: Range Rover, Discovery, Defender, Jaguar

April 28, 2023| 2:41 pm

JLR announced Wednesday that Jaguar’s first car under its new strategy will be a four-door electric GT priced at more than £100,000 ($124,200) with a range of up to 700 kilometers (435 miles). The absence of the Land Rover name in the rebrand created controversy on social media within the UK, with some commentators assuming JLR had dropped the storied name. However, JLR confirmed the name would continue as a badge on its SUVs to serve as a “trust mark.” “Land Rover will remain. It is strong, well known, and we will use that collective strength to give our brands… [...]

New Toyota CEO touts a three-step plan to EV profits and productivityNew Toyota CEO touts a three-step plan to EV profits and productivity

April 27, 2023| 2:33 pm

From now on, Toyota enters the second phase, when it will quickly incorporate learnings and improvements from those EVs into forthcoming model introductions. That stage will last until around 2026, when Toyota will have built up enough capacity to sell some 1.5 million EVs globally. The third phase kicks off in 2026, when Toyota introduces a completely new EV platform along with its Arene software system for cars. That will allow Toyota to leverage a new vehicle software system to unlock new revenue streams, business models and hyper-efficient product development cycles. The new setup being developed will enable Toyota’s future… [...]

Maserati updated the lineup with a choice of EVs, hybrids, combustionMaserati updated the lineup with a choice of EVs, hybrids, combustion

April 26, 2023| 2:20 pm

Peffer said Maserati’s sales last year and so far in 2023 are primarily utility vehicles. Early data shows that around 80 percent of Grecale sales are conquests. The Grecale starts at $64,995 with shipping, a price point that may surprise some consumers. Houston Maserati dealer Steven Wolf said the brand’s image can make people assume its products are out of their reach, but the Grecale is more accessible. “I think that there’s a lot of people who don’t know you can get a Maserati in the $60,000 range, and I think that’s something [where] the word needs to get out,”… [...]

Why Arizona Heat Makes Windshield Cracks ExpandWhy Arizona Heat Makes Windshield Cracks Expand

April 25, 2023| 5:20 pm

Many of us have been there. You get a small chip or crack in your windshield and leave it alone, figuring it won’t get any bigger. Unfortunately, this isn’t often the case. In many situations, this crack or chip will gradually grow larger, causing you to need a full windshield replacement in the future, rather than requiring a small repair now. This can leave you wondering exactly why the heat of the Arizona summer causes this result. Read on to learn the answer. Why the Spread? It may seem unusual for a cracked windshield to spread. [...]

Polestar will take over part of the old Saab plant to expand R&DPolestar will take over part of the old Saab plant to expand R&D

April 25, 2023| 2:15 pm

Polestar will take over part of Saab’s former car plant in Sweden to extend its R&D operations in Europe. The EV maker will conduct powertrain development for the Polestar 5, a Tesla Model S rival, and the Polestar 6 roadster at a 15,000-square-meter building in Trollhattan, Automotive News Europe sister publication Automobilwoche reported. Polestar will also test powertrains, electric motors and batteries for the upcoming models at the new R&D center. Polestar will rent the building from the city of Trollhattan, Automobilwoche said. The site was previously used for powertrain development by Saab and then by National Electric Vehicle Sweden… [...]

Lloyd Reuss obituary: Former GM president championed engineeringLloyd Reuss obituary: Former GM president championed engineering

April 24, 2023| 2:12 pm

DETROIT — Lloyd Reuss, a mechanical engineer who rose to become General Motors president in the early 1990s, died on Friday. He was 86. Reuss, a classic company man with sharp political instincts and a passion for performance, was the father of Mark Reuss, GM’s current president and head of the automaker’s regional and international operations, global product development programs, quality and design. Mark Reuss posted the news of his father’s death on Facebook. Lloyd Reuss became GM president on Aug. 1, 1990, as part of incoming Chairman Robert Stempel’s executive team. As president, he was an early supporter of… [...]

Transport technology startup funding plunged 43 percent in MarchTransport technology startup funding plunged 43 percent in March

April 23, 2023| 2:09 pm

Globally, deal activity in the mobility technology sector for the fourth quarter of 2022 was going flat into 2023, Jonathan Geurkink, a senior analyst at PitchBook, told Automotive News. “We are seeing investment shift away from the activity in and around autonomous driving and the ride-hailing and last mile stuff seems to be tailing off as well,” Geurkink said. “I think there are areas certainly in battery technology that look interesting. We’re probably going to put out an analyst note in the next month or so on sodium battery technology and some of the investments there.” Of the 47 investments… [...]

Bob Loquercio Auto buys Ford, Toyota and Lexus dealershipsBob Loquercio Auto buys Ford, Toyota and Lexus dealerships

April 21, 2023| 1:53 pm

Bob Loquercio Auto Group has expanded with the addition of three dealerships in Peoria, Ill. CEO Bob Loquercio and his namesake group on April 5 purchased O’Brien Lexus of Peoria, O’Brien Toyota of Peoria and O’Brien Ford of Peoria from Joe O’Brien of O’Brien Auto Team, Loquercio confirmed to Automotive News. The dealerships, in central Illinois, were renamed Peoria Toyota, Lexus of Peoria and Ford of Peoria. Loquercio said his brother, Anthony Loquercio, also purchased an undisclosed stake in the Peoria Ford store. Bob Loquercio said the group’s first Lexus store will get updated, with construction expected to begin in… [...]

Tesla cuts prices in Germany, France to boost demandTesla cuts prices in Germany, France to boost demand

April 20, 2023| 1:50 pm

BERLIN — Tesla’s latest price reductions in Europe were made possible because of a scaling up and improvement in its production capacity, the company said. Tesla cut prices in European markets including Germany and France on Friday, with all versions of the Model 3, Model S, and Model X selling for lower prices as well as the Model Y Performance. “Our mission is to accelerate the transition to renewable energy. Our master plan has set a clear pathway to achieve that mission: the transformation of cost-intensive small-series products to cheaper mass-series vehicles,” Tesla said in a statement. In Germany, Tesla… [...]

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