Ferrari CEO shrugs off concerns about EV performance

A Ferrari photographed in Switzerland on March 2, 2015. The Italian company plans to launch a fully electric vehicle in 2025. Harold Cunningham | Getty Images News | Getty Images The CEO of Ferrari on Tuesday moved to allay fears the firm’s upcoming electric offering will compromise on performance, telling CNBC the luxury carmaker had … Read more

Volkswagen CEO Diess to depart; Porsche boss Blume will lead the German auto giant

Herbert Diess, CEO of Volkswagen Sean Gallup | Getty Volkswagen CEO Herbert Diess will leave the company at the end of August, the company said Friday. Oliver Blume, currently the CEO of Volkswagen subsidiary Porsche, will succeed Diess as of September 1. The reason for Diess’s departure was not announced. In a statement, Volkswagen chairman … Read more

States spend billions on EVs to replace automotive capital Michigan

For as long as there has been an auto industry, Michigan has been its epicenter. But now, the industry is making clear that it is not bound by tradition. The move to electric vehicles – rapidly accelerating as the price of fossil fuels rises and battery technology improves – is easily the biggest shakeup in … Read more

Volkswagen CEO says EV outlook is very good

An ID. Buzz stands during a plant tour of the production of the ID. Buzz in quality control at the Volkswagen Commercial Vehicles plant in Hanover, Germany, June 16, 2022. Ole Spata | Picture Alliance | Getty Images The CEO of German automotive giant Volkswagen sought to assuage concerns about electric vehicle sales and semiconductor … Read more

VW and Goldman-backed Northvolt gets $1.1 billion funding

Northvolt’s most recent funding announcement comes at a time when major economies are laying out plans to move away from vehicles that use diesel and gasoline. Mikael Sjoberg | Bloomberg | Getty Images Electric vehicle battery maker Northvolt on Tuesday announced a $ 1.1 billion funding boost, with a range of investors – including Volkswagen … Read more

Goldman Sachs names stocks to buy to tap growth

A new European battery ecosystem could be in the cards, as the region seeks to be a leader in the global shift to electric vehicle adoption, according to Goldman Sachs. The bank names the key stocks along the battery value chain that it thinks could benefit from “Europe’s largest industrial transformation.” The bank estimates EV … Read more

Tencent wants to be foreign automakers’ go-to company for EVs in China

BMW’s iX electric SUV in China was the first global car brand to include the automobile version of Tencent’s WeChat messaging app, according to the Chinese tech company. Tencent BEIJING – Chinese internet giant Tencent wants to sell technology which the company says will help foreign automakers that want to sell cars in China’s massive … Read more

Toyota issues recall for electric SUV following concerns about wheels

Toyota’s bZ4X electric sport utility vehicle photographed in Chiba Prefecture, Japan, on Feb. 24, 2022. The Japanese automotive giant has issued a safety recall related to the bZ4X’s wheels. Kiyoshi Ota | Bloomberg | Getty Images Japanese automotive giant Toyota issued a safety recall for more than 2,000 of its all-electric SUV, the bZ4X. Announced … Read more

BYD sold so many EVs it’s one of the top three automakers in China

One of BYD’s bestselling electric car models, the Han, is on display during an auto show in Shenzhen on June 5, 2022. Anadolu Agency | Anadolu Agency | Getty Images BEIJING – Chinese electric car maker BYD saw sales more than double in May, solidifying the company’s climb into the ranks of the top three … Read more

Latest Shanghai quarantines add more pressure to global supply chain

Staff members of China Post unload parcels of daily necessities for residents quarantined at home from a minivan on May 14, 2022 in Shanghai, China. Tian Yuhao | China News Service | Getty Images The mass quarantine measures imposed this past weekend in Shanghai, including highway closures, severely affected trucks carrying exports bound for the … Read more