The U.S. Department of Energy finalized a $9.63 billion loan for Ford Motor Co. and South Korea’s SK On to help finance the construction of three new EV battery plants in Tennessee and Kentucky. Get the final details at Headlight.News.
Government
Compact SUVs Now the King of Green
According to new data from the U.S. Environmental Protection Agency, the “greenest” or most efficient vehicles running about on American roadways is the compact SUV. The data shows it’s passed the small sedan as the greenest machine on the street. Find out how at Headlight.News.
Trump’s Threatened Tariffs: Protectionism or Ploy?
President-elect Donald Trump again affirmed his plans to levy a 25% tax on all imported goods from Mexico and Canada. The constant threat has many worried about massive price hikes for new vehicles while others point to Trump’s reasoning for the tariffs and call it a negotiation ploy. Get details at Headlight.News.
Tesla Strikes a Delicate Balance Between U.S., China – and Trump
With its EV sales in Europe and the U.S. slowing, Tesla has become more dependent on sales in China. But the competition is fierce, and trade tensions could hamper Elon Musk’s ambitious future. Musk’s central role in the incoming Trump administration further complicates matters.
Rivian Secures $6.6B DOE Loan to Build Georgia EV Plant
Georgia politicians can now breathe easier as Rivian’s plans to build an electric vehicle production plant about an hour north of Atlanta appear to be back on track. The California-based EV maker secured a $6.6 billion loan from the Department of Energy to build the plant, which was put on hold earlier this year. The loan comes in addition to $1.5 billion in state incentives already granted. Details at Headlight.News.
Job Cuts Growing as Automakers Fret About the Future
Automakers in the U.S., Europe and Japan have announced thousands of job cuts over the past month and there’s growing concern the pace could increase as the industry moves into an uncertain new year, with a new presidential administration in Washington threatening to upend automotive rules and regulations — and possibly the economy, as well. Check out the story at Headlight.News.
Trump Selects Second Fox News Host for Cabinet: Transportation Secretary
President-elect Donald Trump named Sean Duffy as his choice to lead the U.S. Department of Transportation. Duffy is a former U.S. Congressman from Wisconsin, and he is the second selection plucked from Fox News. Get details at Headlight.News.
Trump Readying to Relax Autonomous Vehicle Rules
Wondering what influence Tesla CEO Elon Musk may be having within the newly elected Trump administration? The incoming leaders of the U.S. Department of Transportation are readying to loosen the rules for self-driving vehicles, which would include Tesla’s Full Self-Driving technology. Get details at Headlight.News.
Ford Facing Two New Investigations into Handling of Recalls
Less than a week after federal safety regulators hit Ford with one of the largest fines in automotive history, the National Highway Traffic Safety Administration has launched two new investigations into the way the automaker has handled some recent recalls.
Trump and Republicans Ready to Pull Plug on EV Incentives
If anyone hoped that Tesla CEO Elon Musk being named to President-elect Donald Trump’s staff might mean a reprieve for the tax credits created during the Biden administration — guess again. Those credits are as good as gone. Find out more at Headlight.News.
Hyundai Names Muñoz its New CEO — First Non-Korean in Leadership Position
José Muñoz will become global chief executive officer of Hyundai Motor Co. on Jan. 1. It will mark the first time a non-Korean will move into that leadership position — and comes at a critical time for what has become one of the world’s largest automakers.
Ford to Pay Up to $165 Million Fine for Dragging Out Recall
Ford agreed to pay one of the largest fines in automotive history for dragging its feet on a 2020 recall covering 700,000 vehicles while also failing to give federal regulators timely information. It’s the latest in a costly series of quality and safety problems impacting Detroit’s second-largest automaker.