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TOKYO – Honda Motor Co., in the midst of a radical corporate makeover, said it will invest 5 trillion yen ($39.91 billion) over the next 10 years in electrification as it rolls out 30 full electric vehicles globally and builds production capacity for 2 million EVs annually by 2030. In announcing the new push on […]

Ford Motor Co.  said on Monday it has signed a preliminary deal to buy lithium from a Lake Resources facility in Argentina, marking the first time the automaker has publicly announced where it will procure the electric vehicle battery metal. The deal is a major bet by Ford on direct lithium extraction, or DLE, a

The New York International Auto Show returns this week after a two-year hiatus caused by coronavirus restrictions and concerns. But automakers are not back to their full level of pre-pandemic enthusiasm yet. A few manufacturers will show new electric vehicles, a hypercar and, yes, even good old-fashioned gasoline-powered models at the show, which opens to

Qualcomm Inc. last week closed on its acquisition of Swedish tech supplier Veoneer’s Arriver software stack, giving the tech giant a larger foothold in the emerging mobility space. Don’t expect Qualcomm to stop there. “Qualcomm is focused on this market and this space for the long haul, and this is just the start,” said Nakul

When the National Automobile Dealers Association revealed last month it was partnering with the National Urban League to promote diversity, equity and inclusion in auto retailing, the public announcement at the NADA Show was the easy part. Now, the association must work with the league and other key stakeholders to fill in the details of

Two of the largest automotive seating suppliers are building out new plants in Detroit and looking to joint ventures to capture more business from automakers increasingly conscious of their spending with minority-owned companies. Magna International Inc. formed a joint venture with LAN Manufacturing Group LLC called LN Manufacturing LLC, which plans to open a plant

As an automotive finance veteran of nearly 30 years, Sue Wilke opposed the hybrid model of individual dealership employees managing both sales and finance and insurance. “I was a hundred percent against it,” Wilke, finance director and sales manager of Lompoc, Calif.-based RocketTown Honda, told Automotive News. She recalled an encounter with Cindy Merry, finance

CDK Global Inc. plans to join its privately held competitors in the dealership management system market this year, perhaps giving the company more flexibility to pursue longer-term growth strategies than public shareholders want to tolerate. The decision to take CDK off the Nasdaq exchange by selling to global investment firm Brookfield Business Partners — in

Thousands of Tesla fans poured into the automaker’s new Austin, Texas, plant for its official opening, heralding a $1.1 billion facility that will vastly expand electric vehicle production and serve as a launching pad for future products like the highly anticipated Cybertruck pickup. Tesla CEO Elon Musk, who was scheduled to speak late Thursday before

Wholesale used-vehicle prices slipped further in March, the second month in a row they’ve declined after a long period of record elevation. Cox Automotive said Thursday that its Manheim Used Vehicle Value Index, which tracks vehicles sold at Manheim’s U.S. auctions, fell 3.3 percent in March compared with February. The decline in February pric-es was