Ford will invest $5 billion to set up its “Universal EV” program – and, it claims, completely transform the way vehicles are designed, engineered and manufactured. The test will come with the 2027 launch of a new, all-electric midsize pickup, said CEO Jim Farley, with a “targeted price of $30,000.” But there could be a cost in terms of long-term automotive employment, reports Headlight.News.
General Motors and Hyundai Motor Co. will jointly develop give vehicle, including an all-electric van, the two automakers revealed, marking the first concrete steps in an alliance announced last September. The program primarily will target the Latin American market where both automakers are struggling to beat back a push by emerging Chinese competitors. But the van will be sold in the U.S. More from Headlight.News.
Three years after his sudden promotion to CEO, Adrian Mardell is stepping down as Jaguar Land Rover CEO. His successor, P.B. Balaji inherits a much more financially sound company – but faces plenty of his own challenges.
U.S. and European trade negotiators reached the framework agreement on a new trade deal that will result in new, 15% tariffs on most European goods shopped to the States, including automobiles. That’s a sixfold increases from before and for buyers of products from brands like BMW, Mercedes-Benz, Fiat and Maserati, that could mean substantially higher prices. It could also hammer profits for those manufacturers – though U.S. negotiators hope the deal will see more production moved to the United States. More from Headlight.News.
After throwing its support behind Pres. Donald Trump’s 25% tariffs on imported autos and auto parts, the United Auto Workers admits is coming up empty handed in the administration’s new deal with Japan, which offers nothing for workers and could lead to lower wages. Headlight.News has more.
As part of a new trade deal, Japanese auto imports will now face 15% reciprocal tariffs, down from the earlier 25% levied as part of Pres. Donald Trump’s trade war. Japan also agreed to set up a $550 billion fund to back investments in the United States. More from Headlight.News.
American Honda has become a key Olympic sponsor and, as part of that tie-up, it’s lending expertise to the U.S. Bobsled/Skeleton team. The automaker’s wind tunnel has helped boost the range and its EVs – and could now give a boost to the team’s performance during the upcoming Winter Olympics. Headlight.News has more.
Between heat waves and major storms, the number of blackouts and brownouts has increased sharply in recent years, but a start-up launched by a former Tesla exec plans to use as many as 100,000 old EV batteries in “second-like” backup energy storage systems to minimize the risk of grid outages. More from Headlight.News.
Anthony Filosa, the new CEO of Stellantis, won’t officially begin his new role until the end of this month but, despite all the challenges he will face, he’s already got something to look forward to. The Italian-born executive will get a lucrative contract with an escalating pay scale that would allow him to take home as much as $23 million a year in pay and bonuses by 2028. That’s if he can deliver the much-needed turnaround for the struggling Euro-American automaker. Headlight.News has more.
A series of new headlines reveal how Tesla CEO Elon Musk made extensive use of drugs while working as head of the Dept. Of Government Efficiency. But his use of ketamine and other controlled substances began long before Musk began working for Pres. Donald Trump. And it has contributed to what many observers have seen as erratic personal behavior and corporate mismanagement. Headlight.News has more.
Facing potentially massive new tariffs on imported autos and auto parts, some manufacturers have begun planning ways to shift production to the U.S. That includes Volkswagen whose CEO said “massive” new investments could be coming – though a new court ruling could short-circuit such plans. More from Headlight.News.
Stellantis has a new CEO. After a nearly 6-month search, Antonio Filosa steps into the vacancy created by the unexpected resignation of Carlos Tavares last December. The 51-year-old Filosa faces some serious challenges, including weak sales by key brands Ram and Jeep. He may also face the question of whether to abandon some of the 14 Stellantis brands, such as Chrysler and Fiat. More from Headlight.News.