Toyota plans to introduce all-electric versions of two familiar SUVs, the RAV4 and Land Cruiser, according to a new report, with both set to be assembled at the automaker’s plant in Georgetown, Kentucky. More from Headlight.News.
Earnings and Financials
Even as Detained Workers Return Home, Korean Companies Warn Employees in U.S. More ICE Raids Could Follow
Hundreds of South Korean workers detained by an ICE raid at a Hyundai battery plant in Georgia were returned home to cheers from family and government officials. But Korean companies are worried that more immigration raids will follow, throwing into chaos Korean-owned auto, shipbuilding, steel and electrical equipment operations across the U.S. Headlight.News has more.
Yet again? Ford Recalls 1.9 Million Vehicles Due to Faulty Rearview Cameras – And More Could Follow
Another day, another big Ford recall, it seems, the automaker now announcing it needs to fix faulty rearview cameras in about 1.9 million vehicles. It’s the second time this problem has cropped up recently – and now brings the total number of recalls involving Ford products to well over 100 this year. Headlight.News has more.
Get Ready, Get Set. Ford Introduces New Global Media Campaign
In a fast-changing automotive world, even the biggest brands have no guarantee they can survive indefinitely. That’s led Ford to launch its first global marketing campaign in a decade. But what’s the “Ready Set Ford” big buck project trying to achieve? Headlight.News has the story.
BMW Plans 40 Models Off Neue Klasse Platform by 2027
The new BMW iX3 is the first all-electric model based on the automaker’s Neue Klasse platform – but it won’t be the last. The Bavarian automaker’s CEO said Monday that 40 new and updated products using the “new class” technology will roll out over the next two years. Up next: the i3, an all-electric version of the 3-Series, reports Headlight.News.
ICE Takes 100s of Workers Into Custody at Hyundai Battery Plant
Hundreds of employees of LG Energy Solution, a South Korean battery maker, were taken into custody in an immigration raid at a Hyundai plant being built outside Savannah, Georgia, officials from both ICE and the South Korea’s Foreign Ministry have confirmed.
Tesla Board Wants to Give CEO Elon Musk a $1 Trillion Pay Package
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.
GM Slashes EV Production at Factory Zero as Sales Slide
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.
Nearly 900,000 Fords Hit By a Pair of New Recalls
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’s Planned U.S. Investment Growing to $26 Billion
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.
At “Pivotal Moment,” Nissan Prepares Product Blitz, Including Reborn Xterra, Electrified Rogue
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 Set to Slide as Fed Tax Credits Expire – Forcing Desperate Automakers to Roll Out Big Deals
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.