Automakers concerned over consumer access to EV tax credit in Senate proposal
The new proposal on EV tax credits calls for 50 percent of the critical minerals used in EV batteries to be extracted or processed in the U.S. or in a...
Lucid slashes 2022 production forecast after rough second quarter
Lucid Motors slashed its production forecast in half for the year to between 6,000 and 7,000 units of its Air electric sedan after a difficult second quarter due to supply-chain...
TrueCar sees Q2 revenue slump, reports wider net loss
Vehicle listings company TrueCar saw a steep revenue drop in the second quarter and deepened its net loss as it reported pressure from a shortage of inventory and rising vehicle...
BorgWarner sees slight uptick in Q2 revenue
DETROIT — BorgWarner Inc. saw a slight increase in revenue and a slip in net income amid its acquisition of Rhombus Energy Solutions for $130 million, the auto supplier said...
CATL, citing U.S. House speaker’s trip to Taiwan, puts U.S. plant on pause
A giant Chinese supplier of EV batteries decided to push back announcing a multibillion-dollar North American plant to supply Tesla Inc. and Ford Motor Co. due to tensions raised by...
ADAS, autonomous systems to serve different needs for different markets, executives say
TRAVERSE CITY, Mich. — Advanced driver-assistance systems are commonly seen as the building blocks of fully self-driving vehicles. However, industry executives increasingly consider advanced driver-assist and autonomous capabilities separate systems...
Cars.com posts smaller Q2 profit, growth in revenue, dealership customers
Dealership technology company Cars.com reported a smaller profit in the second quarter but gains in revenue and dealership customers as it navigated an ongoing vehicle inventory shortage and an economy...
GM to double Super Cruise map, add two-way highways
With the expansion, "all the little townships are going to be connected now," David Craig, GM's mapping specialist, told reporters this week. "This is expanding Super Cruise's availability to many,...
KAR records $5.4M net loss, saw reduced conversion rates in Q2
KAR Global said Tuesday it brought in more profit per each vehicle it sold in the second quarter, but it also noted its performance was affected by reductions in conversion...
Lucid faces production pressure in Q2 earnings
Lucid Motors faces pressure to show significant gains in its production ramp-up in its second-quarter earnings report that will come after the market close Wednesday. With over 30,000 reservations for...