GM Planning Electric Cars That Won’t Give Buyers Sticker Shock, GM President Says

General Motors Co. is making a big claim about its future electric cars: The automaker will be able to sell them at “very average transaction prices” and be profitable, GM President Mark Reuss said in a presentation Wednesday. GM announced in October 2017 that it plans to sell 20 electric-vehicle models globally by 2023. At […]

The Growing Signs That Tech Investors Are Getting Disillusioned: Data Sheet

A mere eight months ago I called the Chinese electric car startup Nio “a bright, shiny object masquerading as a real company.” This was in reference to its ultimately successful attempt to raise $1 billion in a U.S. initial public offering. Nio was adept at capital collection, marketing, and even automotive design. Yet it had […]

Why Electrification Is Powering Fiat Chrysler’s Renault Merger Ambitions

Fiat Chrysler has never been terribly big on electrification, but that has to change–and so it will, if the company gets Renault to agree to a merger. The $35 billion deal, proposed Monday, would be a merger of equals, with Fiat Chrysler Automobiles (FCA) and Groupe Renault’s shareholders each getting half of the combined entity. […]

‘Burning Money’ or Seizing the Future? Inside Germany’s Bid to Beat China at Building Batteries

The German government has placed a big bet on batteries as a key to the country’s industrial future. The automotive industry is vital to the German economy, and cars are going electric. So, the thinking goes, Europe–and Germany in particular–should be making more electric car batteries. It’s certainly a booming industry; electric car battery sales […]

The Global Electric-Car Showdown Is Officially on in China

Inside Beijing Electric Vehicle’s headquarters, a glass-and-steel complex on the Chinese capital’s edge, a cafeteria awaits renovation so that cooks can crank out pizza and other Western fare for the posse of foreigners the company expects to hire. “We need to have a more international feeling,” says Wang Shitao, a Chinese engineer who earned a […]

Automakers Are Pursuing an Electric, Autonomous Future. But First: Massive Cuts

BMW has announced a $13.6 billion savings and efficiency plan that is largely intended to help it invest more in technology. This is becoming a familiar story in an auto industry that’s going through massive transformation. Going all-electric and embracing automated driving is an expensive business, and coming out on top seems likely to be […]

Tesla Appoints a New CFO and Chief Accounting Officer

Tesla has a new CFO as well as a new chief accounting officer. The electric car company announced Thursday that it has appointed Zachary Kirkhorn has its new chief financial officer, a position he will take over from Deepak Ahuja, who is retiring and will become a senior advisor. Kirkhorn has been with Tesla since […]

Volkswagen Slashing Up To 7,000 Jobs to Boost R&D by $9 Billion

Volkswagen vlkpf is to cut up to 7,000 jobs by 2023 so that it can increasingly focus on electric vehicles and production automation. Handelsblatt reports the move — which will primarily hit administration workers in Germany — will free up EUR8 billion ($9 billion) in cash that can be redirected into research and development. “We […]

Tesla Unveils $35,000 Model 3s, Will Shutter Most of Its Retail Stores

Tesla delivered news Thursday that many consumers have long awaited: The automaker is finally offering a version of the Tesla 3 sedan priced at $35,000. To trim costs, the automaker is also closing most of its retail stores as it shifts sales of its electric cars to online orders. The announcements were previously hinted at […]

Dyson Has Big Electric Car Plans. But Unlike Tesla, the Road Doesn’t Go Through China

Tesla and Dyson, two soon-to-be-competitors in the crowded electric vehicle market, are breaking ground in Asia–literally. In a muddy riverside field on the outskirts of Shanghai workers, journalists, and government officials turned out in the rain last month to witness the ground breaking of Tesla’s first overseas factory. Meanwhile at an undisclosed location in Singapore’s […]