Corporate/Finance: Page 7

  • The LG widescreen display in the Mercedes-Benz EQS electric sedan.
    Image attribution tooltip
    Courtesy of LG Electronics
    Image attribution tooltip

    Car shoppers like subscriptions more than expected: S&P Global Mobility

    Over 80% of survey respondents who experienced a free trial or existing subscription said they would definitely or probably buy subscription-based services for a future vehicle.

    By • July 24, 2023
  • Parking lot full of Tesla Model Y SUVs.
    Image attribution tooltip
    Courtesy of Tesla Inc.
    Image attribution tooltip

    Tesla reports highest ever quarterly revenue of $24.9B in Q2

    CEO Elon Musk said the company is also talking with major automakers to license Tesla’s Full Self-Driving autonomous driving technology.

    By • July 21, 2023
  • Fermata Energy CEO Tony Posawatz
    Image attribution tooltip
    Permission granted by Fermata Energy
    Image attribution tooltip

    Tony Posawatz named Fermata Energy CEO

    The former Fisker Automotive CEO also led the development of the Chevrolet Volt.

    By • July 20, 2023
  • Norm de Greve will join General Motors as senior vice president and chief marketing officer, effective July 31, 2023.
    Image attribution tooltip
    Courtesy of GM
    Image attribution tooltip

    GM names new chief marketing officer

    The auto giant scoops Norm de Greve from CVS Health.

    By • July 19, 2023
  • Former Nissan CEO Carlos Ghosn speaks via video during a press conference at the Foreign Correspondents' Club of Japan on July 18, 2023, in Tokyo, Japan.
    Image attribution tooltip
    Takashi Aoyama/Stringer/Getty Images AsiaPac via Getty Images
    Image attribution tooltip

    Carlos Ghosn says Nissan, Renault relationship strained, mulling ‘mini alliance’

    The former Nissan head said “the alliance was shattered” after his 2018 arrest on embezzlement charges.

    By • July 19, 2023
  • A blue 2024 Kia EV9 SUV on the road with snow-capped mountains in the background.
    Image attribution tooltip

    Courtesy of Kia.

    Image attribution tooltip

    Kia to invest over $200M in Georgia plant expansion

    The West Point expansion will enable the automaker to produce its first electric vehicle in North America.

    By Sara Samora • July 17, 2023
  • An automotive salvage yard in Europe.
    Image attribution tooltip
    OwenPrice/E+ via Getty Images
    Image attribution tooltip

    Automakers blast EU proposal to make cars more recyclable

    The European Union may require automakers to use recycled plastic and help finance the cost of recycling old cars.

    By • July 17, 2023
  • Former Porsche Cars North America CEO Kjell Gruner.
    Image attribution tooltip
    Courtesy of Porsche Cars North America
    Image attribution tooltip

    Porsche Cars North America CEO steps down

    The company has not selected a successor for Kjell Gruner but plans to announce one soon.

    By • July 6, 2023
  • The Volkswagen ID. Buzz Pro, a battery-electric vehicle.
    Image attribution tooltip
    Courtesy of Volkswagen
    Image attribution tooltip

    Volkswagen investing over $1B in South America by 2026

    The automaker aims to grow its Brazil business 40% by 2027 and launch 15 electric and flex-fuel models in the region by 2025.

    By • July 6, 2023
  • A motorcycle on the bottom right with a tan building with an orange and black Harley-Davidson logo blurred in the background on a cloudy day.
    Image attribution tooltip
    Brandon Bell via Getty Images
    Image attribution tooltip

    Harley-Davidson appoints new CFO

    Jonathan Root, formerly senior vice president of financial services, replaces Gina Goetter, who left the company for Hasbro in April.

    By Sara Samora • July 6, 2023
  • The Faraday Future FF91 electric vehicle.
    Image attribution tooltip
    Courtesy of Faraday Future
    Image attribution tooltip

    Faraday Future raises $90M despite production issues

    Investors also agreed to move up a previous commitment to invest $15 million in the company.

    By • July 5, 2023
  • Shared bikes parked at bike station.
    Image attribution tooltip
    NickyLloyd/iStock/Getty Images Plus via Getty Images
    Image attribution tooltip

    Growing shared mobility use likely to disrupt private car ownership, urban transportation

    The move from vehicle ownership to shared mobility will test the auto industry, which is experimenting with other revenue streams such as subscriptions.

    By Dan Zukowski • July 5, 2023
  • The Lordstown Motors Endurance electric pickup.
    Image attribution tooltip
    Courtesy of Lordstown Motors
    Image attribution tooltip

    Lordstown Motors receives Nasdaq delisting notice after filing for bankruptcy

    Trading for the electric truck startup’s stock will be suspended July 7.

    By • June 29, 2023
  • Audi CEO Gernot Döllner
    Image attribution tooltip
    Courtesy of Audi AG
    Image attribution tooltip

    Audi names new CEO

    Gernot Döllner will replace Markus Duesmann, effective Sept. 1.

    By • June 29, 2023
  • Nissan CEO Makoto Uchida speaking at the company's general shareholder meeting in Yokohama, Japan, on June 26, 2023.
    Image attribution tooltip
    Courtesy of Nissan Global
    Image attribution tooltip

    Nissan won’t replace COO, paving the way for Renault EV investment

    The Japanese automaker said other leaders would collectively take over the outgoing executive's responsibilities.

    By • June 29, 2023
  • Lordstown Motors CEO Steve Burns standing next to the company's Endurance pickup.
    Image attribution tooltip
    Courtesy of Lordstown Motors
    Image attribution tooltip

    Lordstown Motors files for bankruptcy, sues investor Foxconn

    In November 2019, Lordstown Motors secured a $40 million loan from General Motors to purchase GM’s shuttered 6.2-million-square-foot Ohio assembly plant to build the electric Endurance pickup.

    By • June 27, 2023
  • A row of cars in a lot
    Image attribution tooltip
    Justin Sullivan via Getty Images
    Image attribution tooltip

    New vehicle sales continue to climb but economy could slow the auto industry’s recovery: J.D. Power

    Higher interest rates and worsening economic conditions have the potential to dampen sales growth, yet strong demand for new vehicles should continue to benefit the automotive industry, one analyst said.

    By • June 27, 2023
  • The Ford F-150 Lightning is displayed at the North America International Auto Show.
    Image attribution tooltip
    Bill Pugliano via Getty Images
    Image attribution tooltip

    Ford, SK On secure up to $9.2B in loans from DOE

    The loan will help finance construction of the companies’ three joint venture battery plants. 

    By Megan Ruggles • June 23, 2023
  • Hyundai President and CEO Jaehoon Chang pictured during a presentation the automaker's 2023 CEO Investor Day event in Seoul.
    Image attribution tooltip
    Courtesy of Hyundai Motor
    Image attribution tooltip

    Hyundai to invest $85B in EVs by 2030

    The company also boosted its electric vehicle sales target to 2 million units annually by the end of the decade.

    By • June 22, 2023
  • Renault Group CEO Luca de Meo
    Image attribution tooltip
    Permission granted by Renault Group
    Image attribution tooltip

    Renault Group CEO Luca de Meo to lead EV-spinoff Ampere

    The subsidiary aims to lower EV costs by 40% per vehicle by 2027 and develop new battery technologies and software-defined vehicle architecture.

    By • June 21, 2023
  • Nissan COO Ashwani Gupta pictured with the Airya electric SUV in July 2020.
    Image attribution tooltip
    Courtesy of Nissan Motor Co. Ltd
    Image attribution tooltip

    Nissan COO Ashwani Gupta to step down

    Gupta was responsible for executing the automaker’s Next transformation plan, which included targets of electrifying 40% of its U.S. model lineup by 2026 and boosting global production capacity by 20%.

    By • June 16, 2023
  • Two EV cars getting charged up with icons representing WiFi and connected systems
    Image attribution tooltip

    Photo illustration: Shaun Lucas/Industry Dive; Getty Images; Chevrolet; Ford

    Image attribution tooltip
    Deep Dive

    7 trends transforming the automotive industry

    Technology is reshaping how car makers design, build, sell and service vehicles as they shift to electrification, boost domestic manufacturing and develop new hardware and software partnerships.

    By • June 12, 2023
  • New Ford trucks parked outside at a dealership in Long Beach, California.
    Image attribution tooltip
    Eric Thayer via Getty Images
    Image attribution tooltip

    Ford appoints former GM and Whirlpool exec as its chief supply chain officer

    Liz Door joins the automaker as it focuses on improving quality and reducing costs through its supply chain as part of its Ford+ plan.

    By • June 8, 2023
  • A Ford Escape mobile service truck sits in front of a dealership
    Image attribution tooltip
    Courtesy of Ford
    Image attribution tooltip

    Ford to grow mobile service fleet by nearly 1,000 vehicles

    The expansion could help the maker of the Escape better compete against Tesla as mobile service bookings rise across the industry.

    By • May 31, 2023
  • CMO Melody Lee wearing a gray shirt standing outside
    Image attribution tooltip
    Permission granted by Mercedes-Benz USA
    Image attribution tooltip

    Mercedes-Benz names new CMO as auto transformation race heats up

    Melody Lee previously worked at rival Cadillac, where she overhauled the brand’s identity and helped launch a luxury vehicle subscription service.

    By Peter Adams • May 19, 2023