He’s already the richest man in the world but the Tesla board of directors has proposed a new $1 trillion pay package that would put CEO Elon Musk’s wealth nearly on a par with the market capitalization of some of the world’s most exclusive companies. Headlight.News has more.
Workers at General Motors’ Factory Zero will get an extended Labor Day holiday, the company said, in order to make “temporary adjustments to production,” reflecting slowing demand for some of the automaker’s biggest battery-electric vehicles including the GMC Hummer and Chevrolet Silverado EV. More from Headlight.News.
Ford Motor Co. is recalling nearly 500,000 SUVs due to potential brake failures. The announcement comes barely a day after it issued a recall for 355,000 late model pickups due to the possibility their instrument panel’s digital display could fail. The two new service actions add to what was already an all-time record for recalls in a single year. More from Headlight.News.
Hyundai Motor Group will invest $26 billion in the U.S. market, the automaker announced, a $5 billion increase from the figure it announced earlier this year. The increased budget will be used to expand the groups presence in the steel and robotics industries, as well as to expand its automotive operations. More from Headlight.News.
Nissan will roll out 20 new and updated products in less than two years for the North American market, top company executives told dealers meeting in Las Vegas this week. That will bring the return of the Xterra, for one thing, as well as a hybrid version of the brand’s best-selling Rogue model. Infiniti will also benefit from the plans, top officials, including global CEO Ivan Espinosa, said. More from Headlight.News.
EV sales will “flatten considerably” once federal tax credits expire at the end of September, according to a new study. Even with more affordable models coming to market, EV market share will be nearly half what was previously expected before Congress voted to eliminate the incentives. Hoping to clear out inventory before then, automakers have launched a variety of deals that could put some buyers behind the wheel of an EV for less than $100 a month. More from Headlight.News.
Lucid Motors rolls into this coming weekend’s Pebble Beach Concours d’Elegance with it calls a “Trail-Ready” take on its first SUV. The EV start-up is hoping that the Gravity X Concept will fire up interest in the big SUV which has struggled to gain any traction with buyers since going into production earlier this year. More from Headlight.News.
The lack of a robust public charging network is often cited as a key reason why EV sales have slowed down. But despite a cut in federal funding, the rollout of chargers has continued accelerating. Better yet, a new study finds that the number of times EV owners plug in, only to find the charger doesn’t work, has fallen substantially. More from Headlight.News.
Auto exports from the U.S. to its northern neighbor have plunged in the wake of the Trump tariff war, Canada now importing more vehicles from Mexico for the first time in three decades.
Ford’s plan to bring out a midsize $30,000 battery-electric pickup could be great news for buyers looking for an affordable EV. But it might be bad news for Slate, the suburban Detroit start-up that only recently announced plans to launch its own low-cost truck. More from Headlight.News.
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.
As it shifts to a new generation of “affordable” EVs, Ford Motor Co. will delay two other battery-electric projects, including the next-generation F-150 Lightning pickup. It may also look at adding hybrids and other products to what was supposed to be the all-electric Blue Oval City manufacturing complex outside Memphis, reports Headlight.News.