U.S. auto safety investigators have opened a new probe into 30 million vehicles built by nearly two dozen automakers with potentially defective Takata air bag inflators, a government document seen by Reuters on Sunday showed.
Wall Street gained ground on Wednesday, with chipmakers and financials helping to push the S&P 500 and the Nasdaq to record closing highs as investors look to the upcoming Jackson Hole Symposium for assurances that Federal Reserve’s timeline for policy tightening remains intact.
Ford Motor Co (F.N) said late on Friday it will ask the U.S. Patent Office to rescind trademarks obtained by rival General Motors Co (GM.N) for the terms “Cruise” and “Super Cruise,” escalating a brawl GM began by suing Ford over its use of “Blue Cruise” for an automated driving system.
A group of 29 U.S. House Democrats want congressional leaders to include at least $160 billion in additional funding for electric vehicles as part of a $3.5 trillion spending measure, according to a letter seen by Reuters.
President Joe Biden took a step toward his goal of slashing greenhouse gas emissions on Thursday with an executive order aimed at making half of all new vehicles sold in 2030 electric, a move made with backing from the biggest U.S. automakers.
U.S. stocks closed mostly lower on Wednesday, with the S&P 500 falling from a record high after data signaled a slowdown in jobs growth in July, and General Motors tracked its worst day since early March.
Ford Motor Co (F.N) on Wednesday boosted its 2021 profit forecast after reporting better-than-expected quarterly results, lifting the No. 2 U.S. automaker’s shares nearly 3%.
Tesla Inc (TSLA.O) showed signs of divergent strategies in the world’s two biggest automotive markets, raising prices to boost profit margins in the United States while keeping prices steady in China and hoping to grow sales there.
Amazon.com Inc (AMZN.O)-backed Rivian plans to invest $5 billion initially in its second U.S. electric vehicle assembly plant, according to a company document shared with state economic development officials.
Ford Motor Co (F.N) said on Wednesday several of its North American factories will be shut for a few weeks in July and August due to a global shortage of semiconductors.