Design chief Gerry McGovern reportedly has been fired by Jaguar Land Rover as part of a broader corporate shake-up at the troubled automaker, according to a report from India, where JLR’s parent company is headquartered. More from Headlight.News.
Earnings and Financials
GM Permanently Laying Off Over 1,100 at Detroit EV Plant
General Motors will lay off 1,140 workers at Factory Zero, its Detroit battery-electric assembly plant due to weak demand for products like the GMC Hummer EV and Chevrolet Silverado EV. The automaker also is facing pressure from Canadian authorities to come up with an alternative plan for an Ontario plant where it is ending production of all-electric Bright Drop vans. More from Headlight.News.
U.S. Market Will Be Core to Mitsubishi Turnaround
Despite being hammered by auto import tariffs, Mitsubishi is betting big on the U.S. market, the company told dealers on Friday. It plans to launch a variety of new products to flesh out its currently meager product line-up. But there is one problem: a lack of U.S. production. More from Headlight.News.
Waymo Launches Next Big Step for Robotaxis with First Intercity Service; Tesla Falls Further Behind
Waymo says it knows the way to San Jose as it puts driverless taxis on the freeway in Silicon Valley. The initiative beat out arch-rival Tesla, which just promised to pay Elon Musk billions to expand its robotaxi business. Headlight.News has more.
GM Tells Suppliers to Stop Sourcing Parts from China
As trade friction grows, General Motors wants its suppliers to stop sourcing parts and raw materials from China by 2027, according to a new report, though meeting that deadline could be challenging considering the way the global network has been set up over the last few decades. More from Headlight.News.
Shareholders Approve Musk’s Trillion-Dollar Payday
Bedazzled shareholders approved Tesla CEO Elon Musk’s proposed $1 trillion pay package. But to collect he faces major challenges. Musk has to turn around Tesla’s faltering automotive business at a time when EV sales are sagging, while also proving his vision of robotaxis, robots and AI can add new sources of revenue for the Texas-based company. More from Headlight.News.
Already on Hold, Ford May Scrap F-150 Lightning Production Entirely
Sales have never lived up to expectation for the Ford F-150 Lightning, one of the market’s first all-electric pickups. The automaker idled production last month due to a shortage of aluminum and officials there reportedly are considering whether to scrap the nameplate entirely. Headlight.News has more.
Rivian Celebrates Q3 Numbers as Lucid Hopes for Better Days
Rivian and Lucid are both electric vehicle manufacturers, but that’s where the comparisons end when looking at each company’s third-quarter earnings results. Rivian beat the street’s expectations as Lucid fell short. Headlight.News has details.
Musk’s $1 Trillion Pay Package Goes to Tesla Sharholders
Shareholders could decide the future of Elon Musk and Tesla this week as they vote on the proposed $1 trillion pay package many big investors are finding hard to accept at a time when Musk’s judgement and entrepreneurial instinct is in question. More from Headlight.News.
As EV Sales Crash, Kia Delays U.S. Debut of Compact EV4
October brought bad news for automakers, EV sales tumbling sharply following the phase-out of federal tax credits. With demand not expected to recover any time soon, Kia has decided to put the U.S. launch of its most affordable battery-electric vehicle, the EV4, on hold. More from Headlight.News.
Exclusive: Toyota Looking to Boost U.S. Auto Exports to Japan, Along with $10B Investment in States
Toyota committed to invest another $10 billion in the United States, as negotiations on a new U.S.-Japan trade deal moved forward — prompting Pres. Donald Trump to tell troops stationed in Japan, “Go out and buy a Toyota.” In an exclusive report, Headlight.News reports Toyota also is looking for ways to boost U.S. auto exports to Japan.
Is it Time to Break Up Stellantis?
There were high hopes when Fiat Chrysler Automobiles and the PSA Group officially completed their merger on January 16, 2021. But things haven’t worked out quite as planned, the automaker now known as Stellantis struggling to reverse a sharp decline in sales and earnings. While the company insists it’s on the mend, some wonder if it would be better to consider this a failed experiment and break the company up. That notably includes former CEO Carlos Tavares. Headlight.News has more.