Industry Voices
Hyundai's New Electric Vehicle Plant Opens, Securing Tax Incentives
Hyundai's $7.6 billion electric vehicle megaplant, set to open in October 2024 in Georgia, is ahead of schedule. Accelerating construction to qualify for the $7,500 EV tax credit, Hyundai aims to produce 300,000 electric vehicles annually. Collaborating with LG Energy for battery production starting January, Hyundai secures its position as the second-largest US EV seller, surpassing Ford and GM.
By Dabbie Davis
latest news
Tesla Owners Receive Warning: Keep Apple VR Headsets Off While Driving
Tesla warns drivers against VR distractions. Pete Buttigieg , US Secretary of Transportation,reiterates driver engagement importance. Online videos spark concern. Lentinni clarifies police encounter as scripted. Buttigieg underscores driver responsibility. Apple cautions VR use.
By Dabbie Davis
Hertz Halts EV Purchase, Arrived at an Agreement with Polestar
Hertz halts acquisition of 65,000 Polestar EVs, shifting away from electrification plans after Tesla exit. Repair costs, depreciation woes cited. Polestar CEO reveals Hertz's pause in late 2023. Polestar agrees to halt agreement under conditions. Hertz's move impacts Polestar stocks, with uncertain revival prospects. Hertz's financial status awaited post-bankruptcy.
By Dabbie Davis
Toyota's $1.3B Investment Charges Up Kentucky's Electric SUV Production
Toyota announces a $1.3 billion investment in its Georgetown, Kentucky plant to accelerate the development of a new three-row electric SUV for the American market. The facility will also manufacture battery cells, showcasing Toyota's commitment to electrification.
By Dabbie Davis
Honda Recalls Over 750,000 Cars Over Faulty Airbag, Another Recall Since December
In response to a critical problem involving malfunctioning airbag sensors, Honda is initiating a recall impacting over 750,000 cars. The recall aims to address a faulty airbag sensor, which, if left unresolved, could trigger unintended front passenger airbag deployment, potentially endangering smaller occupants during accidents.
By Dabbie Davis
Stellantis Maintains Independence, Denies Renault Merger Speculations
Italian headlines fuel rumors of a Stellantis/Renault merger, promptly dismissed by Chairman John Elkann. He reaffirms Stellantis' focus on long-term strategy. French government's involvement adds intrigue to the speculation. Reuters provides insight into the situation.
By Dabbie Davis
Ford Outperforms Toyota in January Sales, Despite EV Slowdown Trend
In January, Ford started the year strong in the American market, with a 4.3% increase in overall sales, surpassing Toyota. The success was attributed to the Maverick compact pickup and strong truck and van sales, outperforming General Motors. However, electric vehicle (EV) sales dipped by 10.9% due to various factors, including the loss of federal EV tax credits and weather concerns. Ford's trucks excelled in the hybrid segment, contributing to their impressive January performance.
By Dabbie Davis
Ford, Toyota, and Honda to Navigate Electric Vehicle Landscape Following Elon Musk's Tesla
Toyota, Ford, and Honda report earnings this week, facing challenges like higher costs, supply-chain issues, and pricing concerns. Toyota's shares outperform Tesla's, and its Chairman, Akio Toyoda, expresses skepticism about EV adoption in countries lacking charging infrastructure.
By Dabbie Davis
