Month: September 2020

BEIJING — Tesla Inc. is poised to start selling some Model 3 vehicles made in China equipped with cobalt-free lithium iron phosphate batteries, two people familiar with the matter said. Currently the Model 3 electric sedans made at the automaker’s Chinese plant use nickel-manganese-cobalt batteries. The starting price for the vehicle is currently 271,550 yuan
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Nikola Motor Company Two truck Source: Nikola Motor Company Nikola shares jumped by about 5% in morning trading after the embattled electric truck start-up reconfirmed its business plans and production targets following founder and former Executive Chairman Trevor Milton’s resignation last week. The company said it “remains committed to achieving” a set of milestones previously
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DETROIT — Ford Motor Co. is lowering the price of its Mustang Mach-E crossover between $1,000 and $3,000, depending on the trim, as it prepares to launch the vehicle later this year. In a memo to dealers, Ford said the Premium trims will get a $3,000 price cut, with the all-wheel-drive version dropping to $50,800
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Scott Wine, CEO, Polaris Industries Scott Mlyn | CNBC With more Americans spending time in the great outdoors amid the coronavirus pandemic, the trend has lead to a glut in inventory at recreational vehicle dealerships. Polaris and Thor Industries, two recreational vehicle manufacturers with more than $5 billion in value on the stock market, are
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What hasn’t been negatively stated about Mercedes’ electric strategy: The EQC is only being sold at a manageable low level, other EQ models have been in the pipeline for too long. But wait! Now Mercedes is surprising us with a type of electric vehicle that Tesla does not have: the EQV based on the V-Class minivan. Of course, the Mercedes EQV is not the
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YOKOHAMA, Japan — Infiniti’s next-generation QX60 crossover will get more muscular, premium styling that heralds a reboot for the brand. Infiniti Chairman Peyman Kargar expects next year’s arrival of the QX60 three-row midsize crossover, along with the launch of the new QX55 coupe-styled compact crossover, to stoke sales while winning new customers. “We are beginning
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WASHINGTON — Fiat Chrysler Automobiles will pay a $9.5 million civil penalty to settle allegations it misled investors by not disclosing that it conducted only a limited internal review of its compliance with emissions regulations, the top U.S. securities regulator said Monday. Fiat Chrysler, which did not admit or deny wrongdoing to resolve the Securities
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Steel production has rebounded alongside the recovery in automotive production this quarter, Cleveland-Cliffs CEO Lourenco Goncalves told CNBC Monday. U.S. automakers are sprinting to re-stock showrooms and get back on production schedule after plants were shut down earlier this year as the country took action to slow the spread of a novel coronavirus. “We have
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Cleveland-Cliffs Inc. will buy the U.S. operations of ArcelorMittal SA for $1.4 billion in cash and shares to become the biggest flat-rolled steel producer in North America. Ohio-based Cleveland-Cliffs expects its second major deal in less than a year to boost sales to the key automotive market. Earlier this year, the global steel industry saw
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Elon Musk clarifies that Tesla plans to make two new and different electric car models at Gigafactory Berlin and Shanghai as the automaker is planning to make cheaper electric cars. Tesla’s short- and mid-term product roadmaps have been somewhat clear until recently. The automaker is planning to bring to market the Cybertruck, Tesla Semi, and
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Nikola’s founder Trevor Milton purchased the original design for the company’s flagship truck from a Croatia-based designer, the Financial Times reported on Saturday, citing people with knowledge of the matter. Nikola One, the company’s flagship hydrogen-powered truck truck, is at the center of a design patent infringements lawsuit that Nikola filed against Tesla in 2018.
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From economic stresses to increased work-from-home numbers, byproducts of the COVID-19 pandemic are giving pause to car shoppers who might otherwise consider an electric vehicle to replace their internal-combustion-engine model. But this is just a short-lived bump in the road that will be followed by a rebound in consumer interest in EVs. There are compelling
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Maserati hasn’t raced in Formula One in decades, but the automaker’s recently unveiled MC20 supercar boasts some F1-derived engine tech, according to Jason Fenske of Engineering Explained. Specifically, the car’s 3.0-liter twin-turbocharged V-6 uses pre-chamber combustion. That means each cylinder has dual combustion chambers, each with its own spark plug. Pre-chamber combustion isn’t new; Honda
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What kind of car is the 2021 Hyundai Ioniq? What does it compare to? The 2021 Hyundai Ioniq is a five-seat hatchback that comes in hybrid, plug-in hybrid, or electric versions. It’s an excellent value and one of the most efficient cars you can buy. As such, it’s a rival for the Toyota Prius, the
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