Tag Archives: Industry

VW Group boosts battery purchases to $48B, or the same market cap as Tesla

New Volkswagen Group CEO Herbert Diess revealed Thursday that the automaker has awarded $48 billion in contracts to battery suppliers. The goal is to reach $50 billion to cover the automaker's battery needs through to 2025. The $48 billion figure is roughly equal to the entire market capitalization of Tesla and double what the VW Group had been planning...

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Toyota plans self-driving test site for emergency maneuvers

Toyota on Thursday revealed plans to build a dedicated test site for self-driving cars. The site will be located within the 1.75-mile oval test track of the Michigan Technical Resource Park at Ottawa Lake, Michigan and span approximately 60 acres. It will include congested urban environments, slick surfaces and a four-lane divided highway with high-speed...

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Report: Former VW CEO Martin Winterkorn facing US charges in dieselgate scandal

A Michigan federal court has charged former Volkswagen CEO Martin Winterkorn with defrauding the U.S. for his role in the VW diesel emissions scandal, according to a report from Reuters. Winterkorn resigned in September 2015, shortly after the company admitted that Volkswagen's 2.0-liter turbodiesel 4-cylinders engine was intentionally and illegally fitted...

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Genesis can’t make up its mind on how to sell cars

Genesis, Hyundai's luxury division, has reneged on a previous decision to create dedicated dealerships under new franchises. The decision left current Hyundai dealers in the cold over the chance to set up their own Genesis dealerships, but made others feel welcome back into the fold. Automotive News (subscription required) reported on Tuesday that every...

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Tesla pushes back start of Model Y production to 2020, says new plant needed

Tesla's next model bound for production is the Model Y, a small SUV related to the Model 3. The company released a teaser for the vehicle last June and at the time promised a launch date in 2019. However, CEO Elon Musk said during Tesla's first quarter earnings call Wednesday that production of the Model Y will likely start in 2020. “I would say...

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Nikola sues Tesla over patent infringement for Semi

As if Tesla didn't have enough issues of late, Nikola Motors has filed a lawsuit alleging the company violated patents for its hydrogen-electric semi. Nikola claims the Tesla Semi is "substantially" similar to its own design. In the lawsuit, filed on Tuesday according to Reuters, Nikola esimates harm from Tesla's patent infringement in excess of $2 billion...

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Ford files trademarks for Maverick, Timberline names

Ford has big plans to expand its SUV and crossover lineup, and the Maverick and Timberline names could be in the mix. The automaker filed to trademark both names, first discovered by Car and Driver last Thursday. We know Ford has plans for a baby Bronco of sorts, and the Maverick name seems to be the better fit of the two trademarked nameplates. The...

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Ford execs reveal reasons behind decision to drop most passenger cars

Ford last week announced drastic plans to drop most of its passenger car lineup in North America in order to focus on utility-type vehicles, i.e. SUVs, pickup trucks and commercial vans. Under the plan, the only cars the Blue Oval will sell will be the Mustang and a new Focus Active (a soft-roader version of the redesigned 2020 Focus.) The transition is...

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Infiniti’s new electrified platform will underpin almost entire range

Infiniti last week announced plans for a new electrified platform that will spawn its first model in 2021, expected to be an electric car. And the platform will eventually underpin every model in the Infiniti lineup except the QX80, which for the foreseeable future will retain the rugged body-on-frame platform of the Nissan Armada/Patrol, Automotive News...

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Former Opel boss joins US electric car startup Evelozcity

Evelozcity, an electric car startup based in Los Angeles and formed by ex-Faraday Future staff, announced last week the appointment of Karl-Thomas Neumann as the new head of mobility and European operations. Neumann has almost three decades of experience in the auto industry and served as CEO at supplier giant Continental and the Volkswagen Group's Chinese...

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