Author: Reuters
General Motors’ Cruise unit could face fines and sanctions over its failure to reveal details of an Oct. 2 accident by which a robotaxi dragged a pedestrian 20 feet after the pedestrian had been struck by one other vehicle, a California agency said. The growing regulatory pressure could hamper GM and Cruise’s effort to rebuild trust and re-start operations in California after coming under fire for allegedly withholding information in regards to the crash in San Francisco. Last month, Cruise paused all driverless and supervised automotive trips in america and expanded a security review of its robotaxis, and CEO Kyle…
Rivian Automotive on Monday announced the launch of leasing for its R1T electric pickup truck for purchasers, starting in 14 U.S. states. The choice, which has been made available in Arizona, California, Colorado, Florida, Georgia, Massachusetts, Michigan, Missouri, Latest Jersey, Latest York, Nevada, Pennsylvania, Texas and Washington. The $7,500 federal tax credit for electric vehicle purchases also applies to customers preferring to lease, boosting demand. The move comes days ahead of the shopper launch of Tesla’s Cybertruck, which competes with the R1T. Rivian, earlier this month, raised its production forecast for the total yr by 2,000 vehicles to 54,000 units…
Social media company X on Monday sued media watchdog group Media Matters, alleging the organization defamed the platform after it published a report that said ads for major brands had appeared next to posts touting Adolf Hitler and the Nazi party. X, formerly Twitter, has faced growing outrage since Media Matters published the report on Thursday, which led IBM, Comcast and several other other major advertisers to tug ads from the platform in response. The report also got here a day after X owner Elon Musk expressed agreement with a post on the platform that falsely claimed Jewish people…
Swedish electric vehicle maker Polestar trimmed its 2023 delivery forecast on Wednesday to the lower end of its earlier guidance and halved its gross margin goal, amid fears of a slowdown in EV demand and global economic uncertainty. High rates of interest to chill stubborn inflation have hampered sentiment as consumers seeking to buy EVs face higher borrowing costs that largely offset price cuts by automakers to stimulate demand. Polestar, which operates in 27 markets globally, said it might now deliver about 60,000 vehicles this 12 months, down from between 60,000 to 70,000. It had reiterated that forecast just last…
DETROIT — The board of Cruise, the robo-taxi company controlled by General Motors, has hired an outdoor law firm and technology consultants within the aftermath of an accident that led it to suspend all driverless vehicle operations, Cruise said Friday. Cruise’s board has hired law firm Quinn Emanuel to review Cruise management’s responses to regulators investigating the Oct. 2 accident, and technology consultancy Exponent to review Cruise’s technology. The Cruise board’s actions were first reported Friday by the Recent York Times. GM, in an announcement Friday, said “we fully support the actions that Cruise leadership is taking to make…
DETROIT — Ford Motor Co on Thursday withdrew its full-year results forecast on account of the pending ratification of its cope with the United Auto Staff (UAW) union, and warned of upper losses on electric vehicles, sending shares of the corporate down nearly 5% after-hours. The union and Ford on Wednesday reached a tentative agreement that included a 25% wage hike for 57,000 staff over 4-1/2 years, ending a strike at among the automaker’s biggest factories. Ford Chief Financial Officer John Lawler in a media briefing on Thursday said the corporate will delay a few of its planned multibillion-dollar investment…
WASHINGTON — The U.S. Treasury Department on Friday issued recent guidance on how a $7,500 electric vehicle tax credit may be used as a point-of-sale rebate starting in January. Currently, consumers can only make the most of the $7,500 recent EV credit or $4,000 used EV credit once they file their tax returns the next 12 months. Starting Jan. 1, consumers can transfer the credits to a automotive dealer, effectively lowering the vehicle’s purchase price, a change that will help boost EV sales. Under the guidance issued Friday, consumers might want to attest they meet income limits to qualify for the tax…
UAW member Tasha Johnson leads a chant at a union rally in Detroit on Friday. (AP) DETROIT — The United Auto Employees said it plans to resume bargaining on Saturday after the union launched simultaneous strikes at three factories owned by General Motors, Ford Motor and Chrysler parent Stellantis on Friday. The walkouts on the Detroit Three by 12,700 employees, kicking off probably the most ambitious U.S. industrial labor motion in many years, are halting production of the Ford Bronco, Jeep Wrangler and Chevrolet Colorado, together with other popular models, though the motion was smaller than some expected. The…
