Though the seven-passenger SUV based upon the CrossBlue concept is ready to be built, Volkswagen is being pulled by incentive offers in the two locations fighting for the right to build the SUV: Mexico and Tennessee.
Though still riding high all over equity markets, Tesla’s debt offerings took a severe hit in status when Standard & Poor’s bestowed a rating of junk status due to increased possibility of default by the EV automaker.
Though Toyota will soon end its battery program with Tesla for its RAV4 EV crossovers, the automaker aims to remain R&D partners on battery technology. Meanwhile, Panasonic wants to be the only producer involved in Tesla’s Gigafactory production.
After 20 years of pursuing a battery-powered future, Toyota has decided to take a different course powered by hydrogen.
With the 2025 industry-wide fuel economy target of 54.5 mpg a decade away, Fiat Chrysler Automobiles CEO Sergio Marchionne believes “the house will make it” as far as all under the Chrysler Group umbrella are concerned, with a little help from hybridization of a number of models.
On the success of a first-year sell-out of the i8 and high demand for the i3, BMW is making an additional investment into its joint venture with SGL Group, with the intention of introducing carbon fiber into models beyond the i and M collections.
Having moved its smartphone business to Microsoft, Nokia’s next project is a $100 million investment fund for companies specializing in smart cars.
Though Fiat Chrysler Automobiles CEO Sergio Marchionne’s five-year plan announced this week may be ambitious, analysts are raising questions about how the plan will be funded — and how much will be needed — if it is to be successful, let alone live up to Marchionne’s vision.
Over the weekend, General Motors opened their newly expanded GM Korea Design Center in Incheon, South Korea, doubling in size to prepare for new tasks related to the automaker’s overall plans for the small-car market via its Korean global hub.
Reuters reports a lawsuit related to the 2014 General Motors recall crisis filed in federal court in California has placed airbag supplier Continental Automotive Systems U.S. at-fault for its role in the recall. Attorney Adam Levitt of Grant & Eisenhoffer proclaimed the supplier knew about the out-of-spec ignition switch at the heart of the recall as early as 2005, yet “did nothing to redesign its airbags” to deploy even when electrical power was cut, “nor did it warn NHTSA or the public.” Continental joins Delphi Automotive as the second supplier to face a lawsuit linked to the ongoing recall crisis.
General Motors announced Tuesday that it would invest $449 million into the two plants responsible for assembling the Chevrolet Volt in preparation for the next generation of the plug-in hybrid’s arrival in 2016.
In its battle against Mercedes-Benz and Audi for record sales, BMW is mulling over the possibility of a second plant in North America.
After months of speculation, Tesla drew back the curtain on their most ambitious project to date, the Gigafactory.
In the wake of Tesla shares hitting an all-time high of $259.20 after Morgan Stanley raised its target price to $320/share, battery maker Panasonic is gathering a few partners to go all in on a $1 billion investment in the automaker’s Gigafactory battery production plant.
The PSA Peugeot Citroen-Dongfeng-French government deal agreed upon by the three parties earlier this week received initial backing from the European Union, though skepticism remains as to whether the deal will bring stability to the ailing French automaker.