Stellantis CEO Carlos Tavares resigned unexpectedly on Sunday, the automaker saying “different views have emerged” in recent weeks as the Euro-American automaker struggled to come up with a way to reverse weakened sales and earnings. No immediate successor was named, though it appears that the automaker’s Chairman John Elkann effectively will take control until a replacement is named. This is a breaking story. Headlight.News will have a longer analysis shortly.
President-elect Donald Trump again affirmed his plans to levy a 25% tax on all imported goods from Mexico and Canada. The constant threat has many worried about massive price hikes for new vehicles while others point to Trump’s reasoning for the tariffs and call it a negotiation ploy. Get details at Headlight.News.
If the Trump administration moves forward with plans to end federal EV tax credits California Gov. Gavin Newsom plans to activate state rebates to help maintain the state’s role as the biggest market for battery-electric vehicles. But there’s a catch: the governor plans to initiate a market cap that would likely exclude the state’s best-selling EV brand: Tesla.
With its EV sales in Europe and the U.S. slowing, Tesla has become more dependent on sales in China. But the competition is fierce, and trade tensions could hamper Elon Musk’s ambitious future. Musk’s central role in the incoming Trump administration further complicates matters.
It’s an iconic part of the Detroit skyline but, with General Motors moving its headquarters to a downsized alternative the fate of the massive Renaissance Center complex has been uncertain, some calling for its demolition, others hoping to find an alternative use. Now, GM is looking at a solution that’s a bit of both as it proposes a massive new “waterfront destination.”
Pablo di Si unexpectedly stepped down as head of the Volkswagen Group of America and will be replaced by Rivian executive Kjell Gruner, the automaker announced Tuesday. The move comes at a critical time for VW which has been struggling to move its all-electric models in the U.S., even as it prepares to launch the all-new, all-electric Scout brand.
José Muñoz will become global chief executive officer of Hyundai Motor Co. on Jan. 1. It will mark the first time a non-Korean will move into that leadership position — and comes at a critical time for what has become one of the world’s largest automakers.
Ford agreed to pay one of the largest fines in automotive history for dragging its feet on a 2020 recall covering 700,000 vehicles while also failing to give federal regulators timely information. It’s the latest in a costly series of quality and safety problems impacting Detroit’s second-largest automaker.
Months after announcing a tentative alliance, Rivian and Volkswagen firmed up their relationship Wednesday, announcing that the German automaker is making a nearly $6 billion investment into the U.S. EV start-up. The news sent Rivian shares surging after they had fallen by as much as two-thirds their 52-week-high in recent months.
Days after announcing a major acceleration in its plans to cut costs — including eliminating 9,000 jobs — Nissan Motor is getting a bit of a boost. Courtesy of a regulatory filing, it was revealed Effissimo Capital Management took a 2.5% stake in late September. Find out what it means and why shareholders are excited at Headlight.News.
EV makers Rivian and Lucid reported their third quarter earnings results. When the dust settled Rivian was reassuring shareholders while Lucid was celebrating with them. Find out how each automaker did at Headlight.News.
Stellantis is cutting another 1,100 jobs, the latest furloughs impacting workers at the Toledo, Ohio plant producing Jeep products such as the Wrangler and Gladiator. The news comes at a time when other manufacturers, including Nissan and Audi, are paring back at a time of weakening sales.