Compass Minerals Signs Binding Multiyear Agreement to Supply Ford Motor Company with Battery-Grade Lithium Carbonate

Premier Ford says fate of Stellantis (STLA) EV battery plant in hands of federal government

Last week, Stellantis (NYSE: STLA) and its partner LG Energy Solutions halted construction on its $3.7 billion EV battery plant in Windsor, claiming the federal government has not delivered what was agreed to.

The new auto plant was announced in March last year, but tensions emerged when the United States passed the Inflation Reduction Act (IRA), a massive package of clean-tech incentives for companies.

Early last week, Canada's Industry Minister Francois-Philippe Champagne said the federal government had increased its planned support for Stellantis and that to... More

BMW unveils new electric i5 with 295-mile range

The BMW Group unveiled its new 2024 BMW i5 during a digital world premiere on Wednesday after teasing glimpses of its first all-electric 5 Series for weeks.

As a combustion model, the 5 Series has held a prominent position in the company's lineup since 1972, and it continues to be the second best-selling vehicle for the German automaker behind the 3 Series. It has been known for a while now that BMW has been actively developing an all-electric version of the 5 Series, alongside plug-in hybrids and traditional combustion engine options.

With its unmistakable resemblance to the 5 Series,... More

Mercedes is bringing an electric CLA sedan to US to challenge Tesla's Model 3

Mercedes-Benz held their annual North American dealer meeting last week where the automaker emphasized its transition into the electric era. To maintain and further accelerate their progress, Mercedes informed dealers about the exciting array of electric vehicles (EVs) they have in store. Among the upcoming additions in 2024 are an electric CLA sedan and a GLC crossover, both contributing to the expanding lineup of EVs.

In the first quarter, the U.S. vehicle... More

California pushes Biden Admin to ban sales of new gas-vehicles by 2035

According to an exclusive report from Reuters on Tuesday, California's Air Resources Board (CARB) has asked the Biden administration to give the green light to a plan that would require all new vehicles sold in the state by 2035 to be either electric or plug-in electric hybrids. This landmark move, mentioned in a letter seen by Reuters, could help hasten the... More

Ford (F) reverses decision, will continue to include AM radio

Ford (NYSE: F) CEO Jim Farley announced Tuesday that the Detroit automaker is reversing a previous decision to remove AM radio from its vehicles, both electric and gasoline, in 2024.

Farley, in a post on his LinkedIn professional page and a tweet on Twitter, said, "After speaking with policy leaders about the importance of AM broadcast radio as a part of the emergency alert system, we've decided to include it on all 2024 Ford & Lincoln vehicles. For any owners of Ford EVs... More

Ford (F) explores cost management at its Capital Markets Day

Ford Motors (NYSE: F) held their Capital Markets Day on Monday in Dearborn, Michigan where the company focused on the steps they are taking to meet longer-term profit targets, including actions related to cost, software and services, and product mix.

Ford reiterated its long-term goal of achieving a 10% EBIT margin by 2026, with the Model e segment aiming for 8%. The Ford Blue division is anticipated to achieve a double-digit EBIT margin, while Ford Pro is expected to reach a mid-teen EBIT margin. Ford's production forecast for the Model e assumes the manufacturing of 2... More

Exxon (XOM) quietly joins lithium hunt as EV demand continues to grow

A Wall Street Journal exclusive reports over the weekend that the oil and gas company, Exxon Mobil (NYSE: XOM) recently purchased drilling rights to a sizable chunk of Arkansas land from which it aims to produce lithium, a key ingredient in batteries for electric cars, cell phones and laptops.

Exxon has reportedly acquired... More

Ford (F) details newest electric SUV at Delivering Ford+ Capital Markets day

Ford Motor (NYSE: F) held its Delivering Ford+ capital markets day on Monday where new chief officer of EVs and digital systems, Doug Field released details surrounding the companys newest upcoming three-row electric SUV.

The model will be sized like the Expedition, but won't replace it, as the two will be sold alongside each other and aimed at different customers.

"We could've converted an Expedition into an EV,... More

CEO Jim Farley says Ford (F) will stop competing in over-served markets

Ford (NYSE: F) CEO Jim Farley revealed at the Detroit automakers capital markets day Monday, that the company will stop competing in over-served market segments and instead will place big bets on connected vehicles and digital services.

Farley said the company has been stuck in a box, with thin profit margins, weak growth and low stock valuation.

The CEO said that Ford will emphasize software and services as well as iconic vehicles... More

Ford (F) signs battery supply deals ahead of EV ramp

Ford (NYSE: F) revealed Monday that the Detroit automaker has signed multiple deals for the supply of lithium products, including lithium hydroxide, as the automaker ramps up electric vehicle (EV) production to 2 million units by the end of 2026, an increase from their previously projected 600,000 by the end of this year.

These agreements are a response to the... More

Ford (F) to detail EV strategies at 'Delivering Ford+' Capital Markets Day

Detroits Ford Motor (NYSE: F) will be hosting its capital markets day on Monday, where the automotive giant has promised to detail their plans to meet its previously announced targets for 8% EBIT margin target for its electric vehicle division and a production run rate of 2 million electric vehicles by 2026, a significant increase from the projected 600,000 by the end of this year.

We will take you through why we believe that 8% margin is totally realistic despite all the pricing pressure that we will absolutely get because everyone wants to grow, CEO Jim Farley said during... More