Automotive News

Nikola battles for scarce funding as it launches its first truck

Like every other startup, Nikola is in search of funds to continue its mission to deliver zero-pollution cargo-moving trucks. Last week, it floated a $100 million stock offering that underwhelmed Wall Street. The company’s cash is being spent in three major areas: building trucks, creating a network of hydrogen fueling stations and developing software for autonomous driving. Any one of those pursuits would be a huge project for a startup. Perfecting all three seems like a moonshot. But Lohscheller has been able to sign up partners to help defray some of the costs. And thanks to the Inflation Reduction Act,…

Automotive News

THE UNOBVIOUS ONES: Getting BMW’s programs fit for Canada

The Unobvious Ones is a monthly look at movers and shakers who fly below the radar in the Canadian auto industry. TRACY BULMER WORKING WITH DEALERS TO TAILOR PROGRAMS TO CANADA Looking after customers isn’t just about the sale. There’s also aftersales, warranty and technical support. At BMW Group Canada’s head office in Richmond Hill, Ont., Tracy Bulmer oversees a team of 55 people in her role as director of customer support. “It’s an interesting area of ​​business, and sometimes people underestimate it because there are many different aspects,” he said. “We work with our partners in Germany in some…

Automotive News

These Automakers Can’t Quite Hold Onto Their First-Time Buyers

The back of a Ram truck is seen on a sales lot on May 23, 2017 in Miami, Florida.Some automakers are struggling to convince first-time buyers to return to the showroom, Elon Musk tested that he really believed he’d be able to take Tesla private in 2018 with some help and Audi took Nio to court and won. All that and more in The Morning Shift for January 24, 2023. 1st Gear: The ‘Nomad Retention Challenge’ There’s apparently a name for people who purchase a car from a brand, but don’t buy their next vehicle from that same brand.…