U.S. and General Motors (GM) reach settlement in discrimination case

U.S. Supreme Court declines bid by GM to take up dismissed case against Fiat Chrysler

April 17, 2023 2:24 PM EDT

The U.S. Supreme Court on Monday declined to take up a dismissed racketeering case General Motors (NYSE: GM) brought against Fiat Chrysler Automobiles, now known as Stellantis (NYSE: STLA). The denial was included in a daily order list from the court on Monday.

The justices turned away an appeal by General Motors of a lower court's dismissal of its lawsuit that accused Fiat Chrysler of bribing employee union officials in a bid to undermine GM and pressure... More

U.S. treasury announces VW, BMW, Nissan, Rivian and others lose access to tax credits

April 17, 2023 1:52 PM EDT

The U.S. treasury announced Monday that automakers Volkswagen, BMW, Nissan, Rivian (NASDAQ: RIVN), Hyundai and Volvos electric vehicles will lose access to a $7,500 tax credit under the new rules for battery sourcing.

The Treasury also said the new requirements, which go into effective on Tuesday will cut credits for the Tesla Inc (NASDAQ: TSLA) Model 3 Standard Range Rear Wheel Drive by half to $3,750 but that other Tesla models will retain... More

Panasonic considers building EV battery plant in Oklahoma

April 17, 2023 1:27 PM EDT

Tesla (NASDAQ: TSLA) battery supplier, Panasonic said on Sunday that the Japanese company is considering building a battery plant in Oklahoma, its third in the United States.

Panasonic has entered into an agreement with the State of Oklahoma that defines the eligibility... More

VW, Rivian, Nissan, BMW lose access to US EV tax credits

April 17, 2023 10:06 AM EDT

By David Shepardson

(Reuters) - The U.S. Treasury said on Monday that Volkswagen, BMW, Nissan, Rivian, Hyundai and Volvo Cars electric vehicles will lose access to a $7,500 tax credit under new rules for battery sourcing.

The Treasury said the new requirements effective on Tuesday will also cut by half credits for the Tesla Inc Model 3 Standard Range Rear Wheel Drive to $3,750 but that other Tesla models will retain the full $7,500 credit.

Vehicles losing credits on Tuesday are the BMW 330e, BMW X5 xDrive45e, Genesis Electrified GV70, Nissan Leaf, Rivian R1S and R1T,... More

GM, Tesla, Ford Models To Qualify For Full $7,500 US Tax Credit - Bloomberg

April 17, 2023 10:02 AM EDT

(Updated - April 17, 2023 10:03 AM EDT)

GM, Tesla, Ford Models To Qualify For Full $7,500 US Tax Credit - Bloomberg

Eight EVs and Two Plug-in Hybrids Qualify for Entire Incentive

... More

Volkswagen to partner with Vale, Ford (F) and Huayou to build EV battery ecosystem in Indonesia

April 17, 2023 8:20 AM EDT

Indonesian investment minister Bahlil Lahadalia announced Sunday that Volkswagen will build an electric vehicle (EV) battery ecosystem in Indonesia and will partner with miner Vale, Ford and China's battery minerals producer Zhejiang Huayou Cobalt.

Minister Lahadalia said on Sunday that Volkswagen, Europe's biggest automaker, will work with Vale, Ford, Huayou, French... More

Baidu (BIDU) launches assisted driving system

April 17, 2023 8:00 AM EDT

Leading AI company, Baidu (NASDAQ: BIDU) introduced its new automated driving assistance system, Apollo City Driving Max, Sunday at the companys automotive intelligence conference.

he Chinese tech giant claims that the system will enable vehicles to complete point-to-point navigation by themselves, covering major driving scenarios from Chinese highways to urban roads.

The flagship intelligent driving solution is equipped with... More

GM Ditches Apple CarPlay in New EV Models - WSJ

April 17, 2023 5:25 AM EDT

GM Ditches Apple CarPlay in New EV Models - WSJ

Strategy on multimedia displays aligns with those of Tesla and other EV makers.Will use Googles underlying technology for its own-brand touch-screen interfaces.... More

General Motors (GM) PT Lowered to $45 at Barclays

April 17, 2023 4:08 AM EDT

Barclays analyst Dan Levy lowered the price target on General Motors (NYSE: GM) to $45.00 (from $46.00) while maintaining a Equalweight rating.... More

Nissan seeks tech growth independent of Renault

April 14, 2023 12:04 PM EDT

An exclusive story by Reuters on Friday reports, citing seven people with knowledge of the matter, that Nissan is developing growth plans in areas such as software and electric vehicles (EVs) independent of Renault SA as the automakers work to finalize terms of the limited alliance.

According to the report, Nissan is seeking a partner outside the auto industry to develop software that connects vehicles to cloud-based services, two people involved in discussions said, without elaborating on candidates. That would address a relative weakness for Nissan as it tries to make cars "smarter and more connected", one of... More