Electric vehicle startup company Rivian has announced a $500 million investment from Ford Motor Company. In addition to the equity investment, the two companies have agreed to form a partnership and jointly develop a Ford battery-electric vehicle using Rivian's skateboard platform. “This strategic partnership marks another key milestone in our drive to accelerate the transition to sustainable mobility,” said RJ… Read More...
The bookend of the 2019 auto show season is upon us with next week's New York show. Always packed with some headliner reveals, this year's show is going to have a number of significant luxury reveals and, of course, SUV models from some of the mainstream brands. As of right now, there are few surprises in store. Most of the… Read More...
General Motors is expected to announce some positive manufacturing news after months of not-so-positive announcements the company has made. CEO Mary Barra is expected to announce a new investment into an existing assembly plant for the production of electric vehicles. According to Reuters the automaker will announce a $300 million investment into its Orion Assembly Plant in the metro Detroit area. The… Read More...
It doesn't take an automotive analyst to figure out truck prices keep rising, but the analysts have confirmed. In fact, average transaction price for pickup trucks is up a staggering 61 percent in just 10 years. According to The Wall Street Journal JD Power data says the average truck buyer is paying $44,000. To put that into perspective, the average vehicle price… Read More...
Volkswagen AG officials are reportedly headed to Dearborn this week to meet with their Ford Motor Company counterparts. On the agenda is a continuation of of the two firms discussing partnership opportunities, but reports suggest talks surrounding electric vehicles have had to evolve. On a broad basis, the two automakers are still discussing how they can partner up regarding electric… Read More...
General Motors is expected to layoff approximately 4,000 employees this coming Monday. The cuts are part of a previously announced restructuring that will shed about 8,100 people from the company's roster. Multiple media outlets are reporting Monday's plan, but the automaker has declined to confirm the reports. The reports suggest the cuts will start as early as 7:30 a.m. and… Read More...
Ford Motor Company CEO Jim Hackett did not mince his words in a recent e-mail to all company employees. Hackett referred to the company's 2018 performance as "mediocre" and explained that the company's full-year profit of $7 billion is simply not enough. The e-mail, sent to employees on Thursday and seen by Reuters, outlined how the automaker cannot accept 2018-like… Read More...
Ford Motor Company and Volkswagen AG have formally announced the beginning of a new global alliance between the two automakers. Today the companies laid out the first formal agreements, providing the groundwork for them to co-develop commercial vans and midsize pickups. The new alliance is expected to begin bearing fruit in 2022, when the jointly-developed commercial vans and midsize pickups… Read More...
After months of speculation, Ford Motor Company and Volkswagen AG are expected to formally announce a new global alliance Tuesday at the Detroit Auto Show. Executives from both automakers confirmed bits and pieces of the alliance at their respective debuts. Ford Executive Chairman Bill Ford told reporters, "The talks are going really well. We’re going to have more to say later… Read More...
Fiat Chrysler Automobiles will pay around $650 million in settlements to the U.S. government surrounding allegations it cheated on emissions tests for its diesel V-6 engine. The engine is found is 104,000 Jeep and Ram vehicles in the U.S. According to an Associated Press report, FCA will fork over $311 million in fines to the federal and California governments for the actual… Read More...
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