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Executives

Lucid Gets a Reprieve as Price Cuts Help it Gain Market Traction – But Saudi Cash Remains Key

Lucid Gets a Reprieve as Price Cuts Help it Gain Market Traction – But Saudi Cash Remains Key

It’s been a tough year for EV start-ups, Fisker filing for bankruptcy, and several others expected to follow. But there have been a few glimmers of hope. Price cuts helped Lucid outperform sales expectations during the second quarter, buying it time to bring a second product line to market later this year. But with Wall Street still skeptical, the California manufacturer remains critically dependent on cash from the Saudis, Lucid’s largest investor.

Mercedes Pumping New Life Into its Gas Engines

Mercedes Pumping New Life Into its Gas Engines

With the EV market taking longer to charge up than many have expected, Mercedes-Benz is putting money back into the development of internal combustion technology, as well as hybrids, CEO Ola Kallenius said. But the automaker isn’t scrapping plans for a new EV architecture, despite recent reports, the executive said.

Twork Named New Lucid PR Chief as it Enters a Critical Phase

Twork Named New Lucid PR Chief as it Enters a Critical Phase

Lucid Group named a new PR chief, Nick Twork taking on global communications duties at the EV start-up. The move comes at a critical time for the Silicon Valley-based automaker. While its initial product line, the Air sedan, has received generally favorable reviews, Lucid has been struggling with sluggish sales and a rapid cash burn while waiting for the more mainstream Gravity SUV to debut later this year.

Fisker Files for Bankruptcy

Fisker Files for Bankruptcy

For the second time in less than a dozen years, entrepreneur Henrik Fisker’s effort at launching an automotive start-up has plunged into bankruptcy. Start-up Fisker Inc. filed for Chapter 11 protection late Monday. While the one-time auto designer said the filing leaves a “viable path forward,” the options for saving the company appear increasingly sparse.

Jeep Confirms $25,000 Renegade EV Coming in 2027 – Offers First Details

Jeep Confirms $25,000 Renegade EV Coming in 2027 – Offers First Details

Jeep will introduce a $25,000 EV in 2027, officials from parent Stellantis confirmed on Thursday. CEO Carlos Tavares – who first dropped hints about the affordable offering last month – added a number of other details during a meeting with investors.

Flexibility is Key, Stellantis CEO Tavares Tells Investors – Though “Arrogance” Almost Knocked it Down

Flexibility is Key, Stellantis CEO Tavares Tells Investors – Though “Arrogance” Almost Knocked it Down

Stellantis faces challenges and has lost ground in the U.S. CEO Carlos Tavares acknowledged during Thursday’s “Investors Day” conference, putting some of the blame on his own shoulders.  But the carmaker’s flexible strategy and new products offer hope for the future and protect the company’s profitability, he promised analysts and shareholders.

Musk Faces Growing Opposition to $56B Pay Deal Ahead of 6/13 Vote

Musk Faces Growing Opposition to $56B Pay Deal Ahead of 6/13 Vote

A growing number of investors have announced they will vote against the $56 billion pay package Tesla’s board of directors wants to give CEO Elon Musk – though the South African-born executive insists he has lined up enough support for the proposals approval during a shareholder’s meeting this week. What happens if the plan is rejected? Musk already has fired a warning shot.