Polestar CEO Thomas Ingelanth resigns from the company as Polestar continues to bleed money and navigate rough waters caused by slumping EV demand and cash burn.
EVs and batteries
Hyundai Way Means Massive Sales Increase, More Hybrids, More Profit
South Korean automotive behemoth Hyundai Motor expects to sell 5.5 million vehicles globally by the end of the decade, including 2 million EVs and 1.8 million hybrids. The global number represents a 30% jump over last year’s numbers. Find out more at Headlight.News.
Audi’s Best-Selling Q5 SUV Teased Ahead of Complete Makeover’s Debut
Audi plans to make some big news next week, the German automaker set to reveal the next-generation version of its best-selling model, the Q5. Ahead of that formal unveiling, Audi released this teaser image and gave some hints as to what’s coming. Significantly, the midsize SUV will be offered with a range of powertrains, including gas, hybrid and all-electric. Here’s what we’ve learned so far.
VinFast Launches VF 9 With Major Price Cut
Hoping to get it right after a botched launch of its original EV, Vietnamese start-up VinFast is ready to roll its second offering into U.S. showrooms. To increase the appeal of the three-row VF 9, VinFast has slashed the sticker price by more than $10,000 on the base model and $18,000 on the more lavishly equipped Plus package.
New Vehicle Sales Expected to Make Big Jump in August
The auto industry’s been expecting a big sales month at some point this summer in the wake of the CDK outage that cut into new vehicle sales in mid-June. Some thought it would come in July, but inventory levels we’re quite settled. But now it appears everything’s in place for a 7% year-over-year increase. Find out more at Headlight.News.
Fisker Inc. Finalizes Liquidation Plans While Helping Owners
EV maker Fisker secured a deal with creditors to liquidate its assets while providing ongoing assistance to the owners of the vehicles it has already produced. Find out more at Headlight.News.
Fire at Rivian’s Illinois Plant Damages EVs, Assembly Plant Unaffected
Rivian reports fire at its Normal, Illinois assembly plant. Fire damaged multiple EVs in a storage lot but it’s not known how many were destroyed by the blaze and whether it will affect deliveries of vehicles to consumers.
Acura and Honda Confirm Plans For Electrified NSX Replacement
Honda and Acura confirm that they are developing electrified sports car to replace the NSX. The new model might also use a new moniker instead of continuing the NSX story.
GM Recalling 1,200 Cruise Robotaxis to End U.S. Safety Probe
The National Highway Traffic Safety Administration agreed to end its probe of General Motors’ Cruise subsidiary’s robotaxis after it agreed to recall 1,200 of the vehicles. Go to Headlight.News for a closer look and details.
Lucid CEO Says Company Has Surpassed Tesla As Tech Leader
Lucid CEO Peter Rawlinson says that the company has surpassed Tesla as tech leader in the EV segment as the company prepares to heat up its rivalry with Elon Musk with the upcoming release of the Gravity three-row EV SUV.
BYD, Stellantis Dismiss Rumored Chrysler Acquisition – But Chinese Maker May Still Seek Back Door to U.S. Market
It’s been the subject of speculation for weeks, “knowledgeable sources” chattering amongst themselves about the possibility China’s BYD is in talks with Stellantis as it looks for a way to crack into the U.S. market. The two makers have firmly dismissed the rumors. But there seems little doubt Chinese automakers want to target the world’s second-largest automotive market and are sniffing around the North American auto industry looking for a way to break in.
2025 Cadillac Lyriq Slated to Get Price Increase, Lyriq-V Coming
A new report suggests Cadillac is penciling in a price increase for the 2025 Cadillac Lyriq with the EV also rumored to get a high-performance V model for thrill seekers who want more speed in their SUV purchase.