Average age of U.S. cars hits record in fifth straight annual increase
Cars on U.S. roads are as old as they’ve ever been, potentially complicating efforts to expand the use of new safety and emissions-reduction technologies.
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Lithium sector needs $42 billion as pivot from China adds costs
The forecast comes as Europe and North America look to reduce their dependency on Chinese imports and develop their own lithium production. China has enjoyed a stranglehold over the lithium supply chain.
GM to offer electrified Corvette as early as next year
GM has set a goal of building only electric passenger vehicles by 2035. It has pledged to have 30 electric vehicle models for sale globally by 2025.
Japanese e-vehicle battery company to build $2B Kentucky plant
Kentucky Gov. Andy Beshear said Envision AESC’s plan to build a 2,000-employee plant will help make Indiana’s southern neighbor the “undisputed electric battery production capital of the United States of America.”
Honda outlines $40B strategy to forge ahead on EVs
Efforts in North America will focus on the collaboration with General Motors Co., under which Honda Motor Co. is jointly developing two midsize to large EV models, set for sale in 2024.
Japan’s Nissan plans ‘game-changing’ electric car batteries
The all-solid-state battery is stable enough to be used in pacemakers, Nissan said. When finished, it will be about half the size of the current battery and fully charge in 15 minutes, instead of a few hours.
U.S. electric-vehicle tax credits ending for new Toyota buyers
The lack of credits is problematic for automakers shifting from petroleum-powered vehicles to batteries in the effort to reduce emissions, meet government fuel-economy standards and fight climate change.
GM, Honda plan to co-develop affordable electric vehicles
The plan is to have an electric vehicle that is priced lower than the upcoming Chevrolet Equinox EV. GM plans to roll out an electric Equinox small SUV next year with a starting price of around $30,000.
Elon Musk takes 9.2% stake in Twitter; shares skyrocket
Twitter shares exploded 26% in premarket trading after the Securities and Exchange Commission filing showed that Musk snapped up more than 73 million shares, valued at $2.89 billion.
Russia war could further escalate auto prices and shortages
The war’s damage to the auto industry has emerged first in Europe. But U.S. production will likely suffer eventually, too, if Russian exports of metals—from palladium for catalytic converters to nickel for electric vehicle batteries—are cut off.
IBJ Podcast: Pete the Planner goes car shopping during an auto-industry shortage
Buyers have no negotiating power. Zilch, Dunn tells podcast host Mason King. And that’s because there are as many buyers on a lot looking for a vehicle as there are cars.
Chip shortage forces GM to pause production at Indiana plant
The plant makes Chevrolet Silverados and GMC Sierra light duty pickups and employs more than 4,000 blue collar workers.
Toyota idling output at Indiana assembly plant for five days
Toyota Motor Corp. plans to pause production at its Princeton assembly pant because of supply chain disruptions. The Princeton plant assembles the hybrid Sienna minivan, the Highlander/Highlander hybrid SUV and the Sequoia full-size SUV.
Ford splitting electric vehicle, traditional operations into two individual businesses
Ford plans a major restructuring with two distinct but strategically interdependent auto businesses–Ford Blue focusing on traditional combustion engines and Ford Model e, which will develop electric vehicles.
KAR shares rise 40% after Carmel firm says it will sell ADESA
The Carmel-based auction services company declined to say how many of its 1,000 employees in Indiana would be affected by the transaction. But it said the buyer—Carvana Co.—will not require any employees to relocate.
Car dealers are raising prices. Automakers are pushing back. Consumers are stuck in between.
Soaring car prices have set off a battle between automakers and independent dealers, with consumers routinely paying hundreds, often thousands, more than the listed price amid a protracted vehicle shortage.
COVID-19 truck blockade in Canada leads to auto plant shutdowns
The blocked bridge carries 25% of all trade between the two countries, and Canadian authorities expressed increasing worry about the economic effects.
Park outside: Hyundai, Kia recall vehicles due to fire risk
Hyundai and Kia are telling the owners of nearly 485,000 vehicles in the United States to park them outdoors because they can catch fire even if the engines have been turned off.
As car fatalities accelerate, Buttigieg promises federal support
Transportation Secretary Pete Buttigieg is pledging to tackle rising traffic fatalities through a national strategy aimed at reducing speed, redesigning roads and enhancing car safety features such as automatic emergency braking.
GM to spend nearly $7B on EV, battery plants in Michigan
The state’s economic development board on Tuesday approved $824 million in incentives and assistance for Detroit-based General Motors.