As the electric vehicle industry faces a string of high-profile failures, several startups that have surfaced in recent years have underestimated their capital needs by billions of dollars, industry insiders said. Many of the companies that have tried to bring products to market or go public, especially through Special Purpose Acquisition Companies, or SPACs, are … Read more
Striking United Auto Workers members from the General Motors Lansing Delta Plant picket in Delta Township, Michigan, on Sept. 29, 2023. Rebecca Cook | Reuters DETROIT – Republican governors of six states on Tuesday condemned the United Auto Workers’ push to organize automotive factories in the South, warning the union’s efforts could lead to layoffs … Read more
A Volkswagen automobile assembly plant is seen on March 20, 2024 in Chattanooga, Tennessee. Elijah Nouvelage | Getty Images DETROIT — Volkswagen workers in Chattanooga, Tennessee, will vote this week on whether to organize with the United Auto Workers in a key test of the union’s sway. A victory would give the UAW its first … Read more
Michigan residents took to social media Wednesday to express outrage, disappointment and zingers over a pricy glamour project installed in honor of Detroit hosting the upcoming NFL draft. Folks felt they were promised a grand “Hollywood” style sign overlooking Detroit’s busiest freeway. What we got were eight-foot tall green letters on two foot tall cement … Read more
RobertCrum | Getty Images DETROIT – Skyrocketing auto insurance costs helped contribute to inflation accelerating at a faster-than-expected pace in March and are adding to the ever more expensive costs for U.S. vehicle owners. On a monthly basis, car insurance prices as part of the consumer price index rose by 2.6%, the year-over-year increase to … Read more
Ford CEO Jim Farley at a battery lab for the automaker in suburban Detroit, announcing a new $3.5 billion electric vehicle battery plant in the state to produce lithium iron phosphate batteries, Feb. 13, 2023. Michael Wayland/CNBC DETROIT – Ford Motor is delaying production of a new all-electric three row SUV, as it shifts to … Read more
The 2024 Buick Envista. GM DETROIT – General Motors on Tuesday reported a 1.5% decline in first quarter U.S. vehicle sales compared to a year ago, as the overall auto industry normalizes after years of disruptions and volatile results. The Detroit automaker said the decline to 594,233 vehicles sold during the first three months of … Read more
Michigan State Representative Matt Maddock doesn’t exactly have the best track record of being right. He was wrong about COVID-19 being less deadly than the flu, and he was definitely wrong about the results of the 2020 presidential election. This time around, CNN reports that he was wrong about buses being full of “illegal invaders,” … Read more
President Joe Biden speaks at the United Auto Workers political convention at the Marriott Marquis in Washington, D.C., Jan. 24, 2024. Saul Loeb | AFP | Getty Images DETROIT — The Biden administration’s decision to ease its timeline for all-electric vehicle adoption and give automakers more ways to meet new tailpipe emissions standards is expected … Read more
The Stellantis sign is seen outside the FCA Headquarters and Technology Center in Auburn Hills, Michigan, on Jan. 19, 2021. Jeff Kowalsky | Afp | Getty Images DETROIT — Stellantis is laying off roughly 400 salaried employees in the U.S. in its engineering, technology and software units to cut costs as the automaker faces what … Read more
