According to The South China Morning Post, Xpeng Motors has recently raised an additional $300 million ahead of its New York Stock Exchange initial public offering. The $300 million is on top of the $500 million we reported the startup electric vehicle manufacturer raised last month. Xpeng has reportedly received the latest round of funds
DETROIT — General Motors filed a motion for reconsideration of its racketeering case against Fiat Chrysler Automobiles, now alleging that FCA and co-conspirators are guilty of “corporate espionage” that directly harmed GM. “New facts about the direct harm FCA caused GM have come to light and they are detailed in our amended racketeering complaint. These
The new 2021 Hyundai Veloster N was only just unveiled for the U.S. market but the car is already on sale in South Korea. While the 2021 Veloster N doesn’t look any different than the outgoing model, it is now available with a wet eight-speed dual-clutch transmission, in addition to the six-speed manual. Not only
MILAN — Ferrari has trimmed its sales forecasts for this year after reporting decreasing core earnings, although in line with expectations, in the second quarter due to the coronavirus pandemic. Ferrari said Monday that its adjusted earnings before interest, tax, depreciation and amortization (EBITDA) would come in between 1.075 billion euros and 1.125 billion euros
“She’s pretty and petite … a compulsive perfectionist. She’s about to have a migraine!” Believe it or not, that’s a direct line from a 1977 advertisement put out by Parke-Davis, the pharmaceutical company. It appeared in a brochure for ergotamine tartrate tablets. At the time it was apparently OK to say that a combination of
With its long-awaited mid-engine platform, the Chevrolet Corvette C8 is a major step forward for “America’s Sports Car.” But not every aspect of the eighth-generation Corvette is ideal for enthusiasts. Jason Fenske of Engineering Explained looked at five “flaws” of the C8 Corvette, and why fans may be wrong to complain about them. The first
Porsche has thrown its support behind gay pride in Germany, showcasing a line-up of rainbow-colored 911 models prior to the nation’s Christopher Street Day pride festival. The six Porsche 911 models pictured include a red GT3, an orange GT3 RS, yellow GT3 RS, green GT3 RS, blue GT3 RS, and a maroon-colored GT3. Porsche has
American Honda makes most of its money from crossovers, even as it remains more committed to passenger cars than some of its rivals. But cars remain critical to Honda Division and help it keep younger buyers coming in with such popular models as the Civic compact. But even Honda is feeling the pinch as consumers
Speculation has always been regular part of the auto-journo gig, and today we’re armchair-quarterbacking the current Subaru BRZ‘s future. If you happen to check out Subaru’s Japanese website at this link, translate the page from Japanese to English (unless you’re fluent in the language, in which case, good for you), and scroll down to the ominous message blared
We spotted a camouflaged 2022 Hyundai Santa Cruz crossover-based pickup on a trailer in the middle of the SoCal desert, possibly en route to Death Valley for some real life testing in hotter-than-hot conditions. After all, we saw a temperature of 110 degrees at the location we saw the truck, suitable to give any vehicle
It’s hard to pull off a Jeep Wrangler in pink, but designer Afzal Kahn managed to do just that. This special Wrangler, painted in “3D texture pink military paint,” is currently up for grabs. And it doesn’t cost an arm and a leg. The pink Jeep features a special design package from the Chelsea Truck Company.
The Endurance, not yet on sale, has already endured some hardship in a sense. Lordstown Motors emerged from the ashes of GM’s Workhorse W-15 hybrid pickup situation, which flamed out, but gave a breath of life to a new and arguably more compelling project. But all that history, and any promises Lordstown has made about
The 2020 Ford Mustang Shelby GT500 is already a car worthy of the Shelby name, but for those who want a more conspicuous connection to racing legend and entrepreneur Carroll Shelby, Las Vegas-based Shelby American is offering a Carroll Shelby Signature Edition package that turns your stock Mustang GT500 into a GT500SE with more power
Jeff Meier’s latest acquisition of the all-time great Lamborghini Miura-by way of a stunning garage find-is a heck of a story, filled with fortunate good luck. But his fascination with Lamborghini’s original supercar runs much deeper. Meier was born and raised in Cleveland, where he grew up in a large family. His father owned an
By Joey Klender Posted on August 3, 2020 Tesla CEO Elon Musk indicated that if the company’s Cybertruck tanks in terms of sales, the electric automaker will design and manufacture a “normal” truck with a typical pickup design, but don’t bank on seeing it. Tesla unveiled its Cybertruck in November 2019, and its design was
Lordstown Motors has agreed to go public through a merger with blank-check company DiamondPeak Holdings in a deal that gives the electric pickup start-up a pro forma equity value of $1.6 billion, the companies said on Monday. The combined company will be called Lordstown Motors Corp following the closure of the deal in the fourth
The UK’s largest free retail charging network for electric vehicles has so far given away enough renewable energy to power the homes of almost 130,000 people. Volkswagen, Tesco and Pod Point teamed up to provide the largest free retail charging network for electric vehicle owners across the UK. The partnership has now hit the landmark
U.S. light-vehicle sales rose 1 percent in July at Hyundai, behind a 13 percent increase in crossover deliveries, signaling the broader market continues to slowly recover from the coronavirus pandemic. Hyundai, with one of the industry’s smallest declines in second-quarter and first-half U.S. sales, continues to benefit from strong retail demand for an expanded crossover
The Honda Civic Type R is a legend in the world of hot hatches and has been a staple the segment since the late 1990s. A brief history Honda first introduced the ‘Type R’ nameplate on the Civic with the EK-generation launched in 1997. It was an instant success, but it was only the start.
Tesla could be on track to complete its new plant near Berlin more quickly than its Shanghai facility, according to a local government minister. The U.S. electric car maker has said it wants to finish the factory in Gruenheide by the middle of 2021, and faster than the Chinese operation, which went up in less
A Saleen Mustang had a brief but memorable appearance in 2003’s “2 Fast 2 Furious,” getting torn to shreds by a semi truck after just a few minutes of screen time. That scene almost didn’t happen, according to Craig Lieberman, who served as technical advisor for the first two “Fast and Furious” films. It wasn’t
Editor’s note: This story is part of the annual Automotive News “Future Product Pipeline” series. Acura’s return to its performance roots accelerated this year with the debut of a redesigned TLX midsize sports sedan on a new platform with an optional turbocharged six-cylinder engine. But there is much more to come, and it will happen
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TOKYO — Toyota Motor Corp. President Akio Toyoda will create a trio of companies tasked with developing software for the next generation of smart cars. In detailing the plans, Toyoda said old business strategies no longer guarantee success in an industry being rocked by technological upheaval. Toyoda spoke here last week. These are edited excerpts.
The British division of DPD boasted that it has increased the number of EVs from just over 130 at the start of 2020, to more than 700, smashing its own target by five months. That’s more than 10% of the entire fleet. It makes also DPD UK the biggest electric delivery fleet in the country. The
Tesla Inc. CEO Elon Musk last spoke to Automotive News in January 2015, when he joined Publisher Jason Stein on the World Congress stage. Since then, Musk has slogged through “production hell,” run afoul of stock regulators by tweeting he had secured funding to take Tesla private and seen the value of his electric car
The 2021 Lexus LC 500 Convertible is one of the best-looking cars currently on sale, and in this video from Doug DeMuro, we get to hear his first take on what the car is like. Much like the LC 500 Coupe, the Convertible is powered by a naturally-aspirated 5.0-liter V8 with 471 hp at 7,100
FRANKFURT – Volkswagen Group is not done reshuffling its management, CEO Herbert Diess told a German newspaper in an interview. “We are 80 percent done with our personnel decisions. Some outstanding decisions have been prepared and we will implement them in a planned manner,” Diess said in the interview with Frankfurter Allgemeine Zeitung published on Friday.
Lamborghini rolled out the limited-edition Essenza SCV12 this week. The car is a new track machine based on the Aventador platform, and it produces 830 horsepower coupled with more downforce than a GT3 racer. It also has a custom Capristo exhaust so should sound amazing. 2021 Lexus LC Convertible One of the cars we tested
Viral videos and reports of customer outbursts over mask requirements in retail stores have become another part of the new normal as the coronavirus continues to spread in the U.S. With upset consumers on either side of the debate, dealers are grappling with whether to put their own mandates in place and how to handle