News

WASHINGTON — A breakthrough deal between U.S. Sens. Chuck Schumer and Joe Manchin includes the extension of a popular consumer tax credit for the purchase of electric vehicles, according to people familiar with the matter, a big win for EV-makers like General Motors, Tesla Inc. and Toyota Motor Corp. The credit will be included in […]

Ally Financial remains bullish about both auto loan demand and the company’s ability to raise the interest rates offered to car buyers despite high inflation and the prospect of more Fed rate increases. “The story remains consistent,” CEO Jeffrey Brown said on an earnings call July 19. Vehicle demand was strong and supply challenged, Brown

Compact car maker Mini revealed an electric crossover concept on Tuesday as the automaker plots a transformation into an all-electric brand by 2030. The Mini Concept Aceman hints at a future compact crossover that would slot below the line’s bestselling Countryman. A source said that the new model, jointly developed by Mini with Great Wall

The automotive semiconductor market will equal $250 billion by 2040, based on rapid development of electric and luxury vehicles. That’s the conclusion of a report from consultant KPMG titled “Automotive Semiconductors — Accelerating Into the New ICE Age.” KPMG’s study follows a 2019 analysis that estimated the industry would reach $200 billion by 2040. It

WASHINGTON — The U.S. Energy Department on Monday plans to announce it intends to loan a joint venture of General Motors and LG Energy Solution $2.5 billion to help finance construction of new lithium-ion battery cell manufacturing plants, officials told Reuters. The conditional commitment for the loan to Ultium Cells LLC for facilities in Ohio,

Redwood Materials, founded by former Tesla Inc. executive JB Straubel, said on Monday it plans to spend $3.5 billion on a battery-materials factory in northwest Nevada. The auto industry has been ramping up production of electric vehicles to meet a demand surge, driving up orders for batteries and raw materials such as lithium, cobalt, etc.

There’s no shortage of new and refreshed product in the works from automakers, including a bevy of EVs. The definitive guide for all the metal coming down the line is in our annual Future Product Pipeline series. It’s the most accessible way to keep track of this must-have information. Our series runs weekly, starting with General Motors,

Herbert Diess took over at Volkswagen Groupfour years ago when the German automaker was in crisis, under pressure to make dramatic changes in strategy and culture, and the former BMW executive offered a new vision. Prominent among them, Diess’s effort to create a Germany-centered software business, CARIAD, within Volkswagen, and a promised stock market listing

FRANKFURT — The appointment of Oliver Blume as the next boss of Volkswagen Group heralds a change in management style that is expected to replace the erratic and unpredictable attitude of his predecessor with a more team-based culture. A long-time Volkswagen executive who joined the carmaker in 1994, the 54-year-old Blume has hammered home the

Cardboard boxes are delivering more than parts to Yanfeng Automotive Interiors’ North American plants — they’re also delivering millions in production savings. Humble cardboard cartons, among the lowliest commodities in the long auto manufacturing supply chain, have gotten an innovative new design from a third-party supplier that allows Yanfeng to reuse them repeatedly back and