As the 2024 Presidential campaign moves into higher gear, the U.S. auto industry is once again at the center of the nation’s political conversation. There are numerous places where candidates Kamala Harris and Donald Trump conflict. But they suddenly seem to agree on one key issue – sort of – EVs.
The growth of the EV market has clearly slowed this year, General Motors President Mark Reuss said during a media confab, but sales are still on the rise and GM continues planning to gain ground, even as it delays some product launches. A critical step will be driving down prices, even as profitability improves, said Reuss, who oversees GM’s product development efforts.
Donald Trump has pulled a U-turn and now says he is now “totally” in favor of EVs. The Republican nominee for president said he had “no choice” but to rethink his position after previously bashing battery-electric vehicles now that Tesla CEO Elon Musk has become one of Trump’s biggest financial backers in an increasingly tough campaign.
It will be up to a California court to determine the outcome of a long-running suit pitting two EV manufacturers, Tesla and Rivian. The bigger of the two has accused its rival of stealing trade secrets and a judge has ruled the case will have to go to trial after Rivian filed to get it dismissed earlier this week.
Will it or won’t it? That’s the big question in the racing world this week as Toyota reportedly prepares to announce plans to reenter Formula 1 racing. It would mark a return after a failed effort ended 15 years ago. But Toyota is said to be partnering up this time, likely with the American F1 Haas team.
He spent years as a major force behind one of the world’s most dangerous sports – auto racing. Now, Jean Todt has taken a lead role in a new United Nations effort to address the “pandemic” of highway deaths. Its new, ad campaign hopes to halve the number of road fatalities – over 1 million annually – by 2030.
Left a paraplegic following a crash six years ago, promising IndyCar driver Robert Wickens is back on track as part of the Formula E racing series thanks to an ell-electric race car specifically modified by manufacturing partner SPARK he can drive via hand controls. The third-generation Formula E car is the world’s fastest, lightest and most sustainable electric race car.
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.
One thing you can say about Toyota Chairman Akio Toyoda: he’s ready to push things to the limits, as he proved while testing out a new rally version of the automaker’s GR Yaris at the R&D center in Shimoyama, Japan. While most executives tend to prefer covering up their mistakes, Toyoda left his out for everyone to see.
Elon Musk celebrates yes vote by Tesla shareholders that secures his record-setting compensation plan after a judge in Delaware voided the proposed pay package in January.
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.
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.