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Earnings and Financials

Exclusive: Hyundai Rethinks EV Plans – New Georgia EV Plant May Add Hybrids, Gas Models

Exclusive: Hyundai Rethinks EV Plans – New Georgia EV Plant May Add Hybrids, Gas Models

by | Mar 14, 2024 | , , , , , , , , ,

As EV sales growth slows, automakers are rethinking prior plans, in some cases delaying, even canceling battery-electric vehicle projects. That includes Hyundai Motor Group, the Korean automaker previously announcing one of the industry’s more aggressive EV launch programs. But, in an exclusive report Headlight.News reveals Hyundai is not only studying whether to slow the rollout of new EVs, but also whether to make major changes to the $5.54 billion EV plant in Georgia currently set to start production in October. That would allow the facility to meet production targets by assembling more than just EVs, Hyundai officials revealed.

Detroit Automakers Watch as Their Sales Collapse in China – and the U.S. Could be Next

Detroit Automakers Watch as Their Sales Collapse in China – and the U.S. Could be Next

by | Mar 13, 2024 | , , , , , , , , , , , ,

When the new Lincoln Nautilus goes on sale this spring it will mark a significant development for parent Ford Motor Co., the first time it imports a vehicle to the U.S. from China. The move will help keep the U.S. automaker’s factories there running as demand for its products has tumbled sharply in the Asian nation. But Ford is not alone. Detroit automakers – along with other foreign brands – have seen their Chinese sales – and earnings – plunge as consumers by the millions shift to domestic competitors. Could the Chinese now turn the tables on the U.S. at home? Find out at Headlight.News.

Whether Stuck in Sand or Snow or Driving Into Walls, Owners are Wrecking Cybertruck’s Image

Whether Stuck in Sand or Snow or Driving Into Walls, Owners are Wrecking Cybertruck’s Image

by | Mar 12, 2024 | , , , , , , , ,

When Elon Musk handed over the keys to the first Cybertruck last November he boasted that the electric pickup featured “the finest in apocalypse technology.” The Tesla CEO even played a video showing bullets bouncing off the truck’s stainless steel skin. But a series of recent social media posts raise serious questions about the truck’s actual capabilities — or at least the skills of its early owners who’ve gotten stuck in sand and snow and even driven into a wall at the Beverly Hills Hotel, knocking off a wheel in the process. Read all about it at Headlight.News.

Apple Considered Buying GM — Then Dropped $1 Billion Annually Before Killing its Own Car Program

Apple Considered Buying GM — Then Dropped $1 Billion Annually Before Killing its Own Car Program

by | Mar 11, 2024 | , , , , , , , , , ,

When Apple disbanded Project Titan last month, it marked the end of the tech giant’s long-standing goal of getting into the automotive business. But just how far back did that dream begin — and how much did Apple invest? Apparently, much further back than was previously known. And it spent far more than previously reported on its failed attempt to launch a line of self-driving EVs. Find out more at Headlight.News.

Tesla Stock Again in Freefall; How Low Will it Go?

Tesla Stock Again in Freefall; How Low Will it Go?

by | Mar 6, 2024 | , , , , , ,

Betting on the stock market isn’t for the fainthearted. But it takes an iron constitution to buy in on Tesla. True, those who’ve hung with the automaker since its early days have been well rewarded. But recent years have taken investors on a rollercoaster ride. And nowhere has it been more apparent than over the past few months. After nearing a 52-week late last year, Tesla shares have been in decline. And that’s now showing signs of turning into a full-on rout, even some long-term Tesla bulls getting worried.

“High Likelihood” Nissan Will Invest $400 Million in Alliance with Fisker

“High Likelihood” Nissan Will Invest $400 Million in Alliance with Fisker

by | Mar 4, 2024 | , , , , , , , , , ,

Struggling Fisker Inc. could get tossed a lifeline by Japan’s second-largest automaker. In turn, Nissan could gain some much-needed momentum as it struggles to catch up to key competitors in the EV market, according to a new report. A deep source, meanwhile, tells Headlight.News “there is a high likelihood” the alliance could come together in the coming month.

Ford Halts Shipments of F-150 Lightning Due to Undisclosed Quality Issue

Ford Halts Shipments of F-150 Lightning Due to Undisclosed Quality Issue

by | Feb 26, 2024 | , , , , , , , , ,

Ford has ordered a “stop-shipment” of its F-150 Lightning. It’s the latest in a series of issues impacting both the 2024 battery-electric pickup, as well as the gas-powered version of the full-sized truck. While versions of the F-150 with gas engines are now being shipped again, Ford officials told Headlight.News they don’t know when the 2024 Lightning will begin rolling into showrooms.

Jeep Drops Prices, Prepares to Launch First EV — and Hints “Range-Extender” May Follow

Jeep Drops Prices, Prepares to Launch First EV — and Hints “Range-Extender” May Follow

by | Feb 23, 2024 | , , , , , , , ,

He’s barely been on the job three months, but a lot has happened on his watch as Antonio Filosa, the new global CEO of the Jeep brand settles in. To start with, the off-road brand has cut prices on four of its best-selling model lines. But there’s more to come – soon – Filosa revealed during a media roundtable at the brand’s headquarters in Auburn Hills, Michigan on Friday. Among other things, Jeep is getting ready to launch production of its first EV, the Wagoneer S. And Filosa revealed that the automaker is looking at adding “range-extender” technology to future battery-electric models.

Rivian Slashes 10% of Salaried Staff, Trims Production as EV Sales Growth Slows

Rivian Slashes 10% of Salaried Staff, Trims Production as EV Sales Growth Slows

by | Feb 22, 2024 | , , , , , , , ,

Rivian announced it will slash both its corporate staff and production this year after reporting more than $1.5 billion in losses for the final three months of 2023. Even as it prepares to unveil an entirely new family of battery-electric vehicles, CEO RJ Scaringe warned the nascent automaker “is not immune” to the headwinds battering the U.S. EV market after four years of record growth. Separately, EV startup Lucid also forecast flattening sales after reporting worsening losses.

From “Ruin Porn” to High-Tech Hub: Ford Set to Reopen Long-Abandoned Michigan Central Station

From “Ruin Porn” to High-Tech Hub: Ford Set to Reopen Long-Abandoned Michigan Central Station

by | Feb 20, 2024 | , , , , , , , , ,

When it opened 110 years ago, the Michigan Central depot was the tallest train station in the world and a showpiece for a city at its peak. Since it shut down in 1988, however, it’s been a symbol of urban decay and the decline of Detroit, in particular. Now, after a...