Gabby Bruno, director of economic development for Ford, said there was “no lack of competition for this project.” She said Michigan “competed against numerous states and countries” to secure the investment.
Honda had also considered Greensburg, Indiana, as a possible site for the plant before deciding on Ohio.
Consumer worries about high prices, sparse charging infrastructure and the risks of road-testing new technology are still obstacles to mainstream acceptance, analysts and car buyers say.
Without cost reductions, EVs will be too expensive for the middle class, shrinking the market and driving costs up more, CEO Carlos Tavares told reporters Thursday at the CES gadget show in Las Vegas.
Shortages of computer chips and other parts continued to hobble the U.S. auto industry last year, contributing to vehicle sales dropping to their lowest level in more than a decade.
Finalized this week for an undisclosed price, the purchase makes Champion Chrysler Dodge Jeep Ram at 4505 W. 96th St. the Mohr company’s 12th dealership.
Soulbrain MI, a subsidiary of South Korea-based Soulbrain Holdings, announced Tuesday it will hire 75 employees for the 30,000-square-foot manufacturing facility in Kokomo.
Overfuel, which had its public launch this week, is targeting small- to medium-sized independent car dealers, offering them software that helps them streamline their websites and glean more information about customers’ online activities.
The investment will be used to support additional production of electric vehicle drive unit castings ahead of what GM anticipates will be strong demand for the Chevrolet Silverado EV and GMC Sierra EV full-size pickup trucks.
Carvana had been growing quickly as used car prices soared after the pandemic. But it has been caught in an environment where rising interest rates and high prices have sent many potential used car buyers to the sidelines.
The latest fatalities bring the death toll from exploding Takata air bags to at least 32 worldwide, including 23 in the United States.
The average annual percentage rate on new-car loans was 6.3% last month, the highest since April 2019, according to Edmunds.
Eliminating the back-office jobs in the U.S. and Canada and moving the functions overseas is expected to result in cost savings of more than $10 million per year, according to the auto auction firm.
The company had been expected to choose either Ohio, where it has a plant in Marysville, or Indiana, where it has a plant in Greensburg, for the battery factory. It announced Ohio as the location on Tuesday.
President Joe Biden last year directed the government to purchase only American-made zero-emission passenger cars by 2027.
U.S. Sen. Raphael Warnock from Georgia is raising concerns that the tax credit President Joe Biden signed into law last month could place some automakers at a competitive disadvantage.
An insurance industry group said some Hyundai and Kia cars and SUVs are stolen at nearly twice the rate of the rest of the auto industry because their keys lack computer chips for theft “immobilizer” systems.
Stellantis said that operations at the plant in Kokomo would resume late Monday after UAW Local 1166 workers voted to ratify the agreement.
The 1,200-worker plant, Kokomo Casting, is the world’s largest die cast facility, according to Stellantis. It makes aluminum parts for components including transmissions and engine blocks.
The latest announcement came Thursday from General Motors, a Chevrolet Equinox small SUV with a starting price somewhere around $30,000 and a range-per-charge of 250 miles.
