Month: April 2022

BERLIN — As Germany speeds up investment in renewables, the energy consumption of its automakers reveals just how reliant the country’s most important industry is on fossil fuels, a Reuters analysis of environmental data shows. Their dependence lays bare the hurdles automakers face in transforming their own energy consumption while moving the transport sector, responsible
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DETROIT — Ford Motor Co. believes its newest product, the F-150 Lightning, can be transformational. But the automaker still has plenty of work ahead to realize the battery-powered pickup’s potential and become the industry-leading electric-vehicle purveyor that CEO Jim Farley envisions. Ford’s first-quarter earnings were down year-over-year — even setting aside a $5.4 billion loss
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All-time-high interest in electric vehicles might not translate into as many sales as automakers and regulators would like in the short and medium term, as supply chain snags are likely to prevent the industry from catching up with growing demand. Automakers and governments have set ambitious targets for EV expansion. Legacy automakers have rolled out
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Mercedes-Benz is looking at energy alternatives should Russia cut gas deliveries and is working closely with German authorities to ensure energy supplies. “Every company is looking at options for diversifying energy sources,” CEO Ola Kaellenius told Reuters TV ahead of the company’s annual meeting on Friday. “It is still too early to say exactly which
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Can a bunch of college students solve some of the most vexing automotive engineering challenges facing the industry? Over the next four years, 15 universities across North America will be competing to engineer the most efficient battery-electric vehicles possible while combining connected and autonomous tech — and keeping them fun to drive for consumers. The
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Tesla has issued another “over-the-air recall,” and this time it’s on more than 48,000 Model 3 Performance vehicles over a problem with “track mode.” Lately, Tesla has had to issue a lot of recalls, but most of them were minor issues that were fixed by simple over-the-air software updates. For example, the automaker issued a recall
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BEIJING/SHANGHAI – Baidu and Pony.ai said on Thursday they had received permits to deploy robotaxis without humans in the driver seat on open Chinese roads for the first time, in another instance of Beijing’s support for the autonomous-driving sector. The permits are the latest set of approvals the municipal government has handed out over the
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6:28 AM ET All-electric racing series Formula E has launched a new net carbon zero car to compete its 2022-23 season. The triangle-shaped ‘gen 3’ car will increase the top speed of Formula E’s racers to 200 m/ph (320 km/h). It will feature two different powertrains, one at the front and one at the rear,
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Asbury Automotive Group Inc. now seeks to produce $32 billion in revenue by 2025 — including $6.2 billion that would come from buying more companies. The revised 2025 revenue target announced Thursday is 60 percent higher than the $20 billion goal the public dealership group had set for the same timetable in December 2020. Asbury,
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Hertz Global Holdings Inc. said first-quarter revenue of $1.8 billion was up 57 percent from a year ago, excluding the Donlen fleet management business sold last year. The company’s adjusted earnings before interest, taxes, depreciation and amortization rose from about breakeven to $614 million, while its average global revenue per day soared 28 percent to
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