Author: Reuters

DETROIT — Ford Motor on Thursday outlined plans to make use of a Canadian plant it had earmarked for a future electric vehicle to as a substitute construct larger, gasoline-powered versions of its flagship F-Series pickup truck. Ford in April had already delayed the launch of the planned three-row electric SUVs at its Oakville Assembly facility from 2025 to 2027, citing slower than expected growth in EV demand. It said on Thursday it remained committed to those EVs and that timeline but didn’t say where they’d now be built. The Dearborn, Michigan-based automaker plans so as to add capability for…

Tesla on Thursday launched a brand new rear-wheel drive variant of its Model 3 long-range vehicle, at a price $5,000 lower than the all-wheel drive version, in keeping with the electrical vehicle maker’s website. The brand new Model 3 long-range variant is priced at $42,490. There have been no changes to the costs of the bottom Model 3, the long-range all-wheel drive and the performance variants. Tesla reported a smaller-than-expected 5% drop in vehicle deliveries within the second quarter as price cuts and incentives helped mitigate cooling demand. The corporate will report second quarter earnings on July 23. This Article…

MARANELLO, Italy — Ferrari will use its recent production site to spice up manufacturing flexibility and shorten the time needed to develop and roll out recent models, slightly than to extend output, the CEO of the Italian luxury sports carmaker said on Friday. Ferrari’s so called e-building in its home town of Maranello, northern Italy, for which it has invested around 200 million euros ($214 million), may even produce its first fully electric (EV) automobile, expected to be launched at the tip of next yr. “This constructing will allow us to shorten time to market or product development time,” CEO…

  RIO DE JANEIRO — Brazilian mining company CBMM has began to test on Volkswagen electric trucks a niobium-based battery that it claims could be charged way faster than the others available in the market, the businesses said on Wednesday. CBMM, backed by Brazilian billionaire family Moreira Salles, which also runs lender Itau Unibanco, hopes the project could help it reach its goal of multiplying nearly ninefold its battery unit revenue, to $100 million by 2026, its executives told Reuters. The corporate sells niobium products to steelmakers as its primary business, but CBMM has been seeking to diversify its revenue…

Chinese battery firms CATL and Gotion High Tech ought to be added immediately to an import ban list, a gaggle of Republican lawmakers said, alleging their supply chains use forced labor, the Wall Street Journal reported on Thursday. The lawmakers called for CATL and Gotion, which have ties to Ford and Volkswagen, to be added to what’s generally known as the entity list under the Uyghur Forced Labor Prevention Act, the report said. In an emailed statement to Reuters, Gotion said any allegation the corporate “uses or is said to forced labor is baseless and absolutely false,”, adding the choice…

Shailen Bhatt, administrator of the Federal Highway Administration, testifies before the Senate on Wednesday. (AP)   WASHINGTON — Just seven electric-vehicle (EV) charging stations have begun operating with funding from a $5-billion U.S. government program created in 2021, marking “pathetic” progress, a Democratic senator said on Wednesday. Automakers and others say drastically expanding EV-charging stations is crucial to the wide deployment of electrical vehicles, that are a part of the Biden Administration’s efforts to scale back greenhouse gas emissions. The seven EV-charging stations deployed up to now under a 2021 U.S. program consist of a number of dozen total charging…

Tesla has ignored its goal of delivering 20 million vehicles a 12 months by 2030 in its latest impact report, one other sign the corporate is tempering its auto ambitions because it shifts focus to robotaxis. Musk said in 2020 that Tesla aspired to sell 20 million vehicles by the top of the present decade — nearly twice as many as those sold by Toyota, the world’s largest automaker. “Our goal is to construct and deliver 20 million vehicles a 12 months by 2030. To realize this goal, we’d like to make our products much more accessible,” the corporate had…

WASHINGTON – Republican presidential candidate Donald Trump vowed to reverse dozens of the Biden administration’s environmental rules and policies at a gathering with top U.S. oil executives, where he also asked them to lift $1 billion for his presidential campaign, the Washington Post reported on Thursday. The Post, citing unidentified sources accustomed to the meeting last month in Florida, said Trump promised to finish President Joe Biden’s emissions rules geared toward promoting electric vehicles and halt the Biden administration’s freeze on permits for brand new liquefied natural gas exports, amongst other actions. Trump told the chief executives that giving $1…

Aston Martin posted a bigger-than-expected first-quarter pretax loss on Wednesday because the British luxury carmaker made fewer cars and burned extra cash than analysts anticipated, sending its shares 7% lower. Aston Martin, which has launched several recent cars over the past yr including its next-generation sports cars the DB12 and Vantage, stopped production of old models ahead of the ramp-up in production of fresh models later this yr. “Our first-quarter performance reflects this expected period of transition,” Chairman Lawrence Stroll said. The shares fell as much as 14% to their lowest level since November 2022 and were last down 7%…

  DETROIT — General Motors on Tuesday posted quarterly results that topped Wall Street targets and raised its annual forecast, citing stable pricing and demand for its gas-engine vehicles, sending shares up 5%. The Michigan automaker upped its adjusted pre-tax profit projection for the yr to $12.5 billion to $14.5 billion, from its previous range of $12 billion to $14 billion. “Our consumer has been remarkably resilient in this era of upper rates of interest,” GM Chief Financial Officer Paul Jacobson said. He said demand held up well in the primary quarter and pricing was stable in April, but GM…