Tesla Inc. sued Zoox Inc., a Silicon Valley startup that’s a rival in the race for fully autonomous cars, and four of Elon Musk’s former employees, accusing them of stealing confidential information. Read More...

Ford (NYSE: F) names Tim Stone, who has worked at Amazon and Snap, to succeed Bob Shanks as CFO on June 1. Read More...

With all eyes trained on Tesla last Thursday awaiting its highly anticipated unveil of its Model Y crossover, Ford quietly teased the prospect of an electric version of its iconic Mustang “Pony car.” READ MORE...

Fiat Chrysler shares jumped on Tuesday to the top of Europe’s STOXX 600 after the president of Peugeot family holding company FFP told French daily Les Echos he would support a new deal and suggested Fiat Chrysler was among the options. Read More...

This expansion is in-line with the company’s 2017 pledge of investing $10 billion in U.S. factories over the course of five years. This new plan will have some employment benefits also.It will also increase its production capacity through factory renovation in locations like Huntsville, Alabama; Buffalo, West Virginia; Troy, Missouri; and Jackson, Tennessee. To implement the plan, the company will need to ramp up production of fuel-efficient vehicles. Toyota said it will produce hybrid versions of the RAV4 crossover and Lexus ES luxury sedan in Kentucky for the first time.

The recall was occasioned by a Honda Odyssey crash where the front airbag deployed and injured the driver’s arm. Previously, the recalled vehicles were repaired using specific Takata desiccated replacement inflators (PSDI-5D) or entire replacement airbag modules containing these inflators.But an investigation revealed that manufacturing issues at Takata’s Mexico facility introduced excessive moisture into the inflator during assembly, leading to the problem. Free repairs would begin with immediate effect with replacement parts being made by other suppliers. This recall is not the first of its kind as automakers in the U.S. have repaired more than 7.2 million defective Takata air bag inflators in 2018.  The companies have now ramped up efforts to track down parts in need of replacement. According to the company, the total number of recalled inflators is expected to be around 21 million in about 12.9 million Honda and Acura vehicles that have been subject to recall for replacing

Likening his company to a “supertanker…picking up speed,” Volkswagen CEO Herbert Diess said Tuesday that the automaker is increasing by 50 percent the number of electric vehicles it plans to produce over the next decade. Read More...

Shares of Tesla (TSLA - Get Report) downshifted on Tuesday after analysts at Morgan Stanley cut their price target on shares of the electric carmaker, citing ongoing concerns about its ability to continue to generate sales momentum. Tesla shares were down 2.8% to $282.74 after Morgan Stanley analyst Adam Jonas reduced his price target on the shares to $260 from $283 "to reflect higher free-cash-flow burn and a modestly lower long-term trajectory of volume."READ MORE...

In a recent regulatory filing, Tesla disclosed that it has entered into a syndication loan agreement with China Construction Bank, Agricultural Bank of China, Industrial Commercial Bank of China, and Shanghai Pudong Development Bank for loans as much as $520 million to build a Gigafactory factory in Shanghai.  The loan accrues interest at 90% of the one-year rate published by the People's Bank of China for RMB-denominated loans and LIBOR + 1.0% for U.S. dollar-denominated loans. In the same filing, Tesla has also amended its ABL credit pact to upsurge revolving commitments by $500 million to $2.425 billion, sanction up to $200 million in additional commitments, and extend the term of most of the total commitments to 2023. The credit line will be used exclusively to fund development of Tesla’s third gigawatt-scale facility, and it’s first outside the U.S., after the company announced in October that it had secured a 210-acre site in Shanghai for a factory that is intended to pro

Tesla’s price cuts have been so significant in some regions that it devaluated some recently purchased vehicles by over 40% and it pushed some owners to literally organize protests. READ MORE...

Breaking loose of its reputation of not being able to handle returns and refunds efficiently, the company further confirmed that from now on drivers will be given up to a week to return their newly purchased vehicles if they aren’t happy. Tesla’s CEO explained that there was no other way to reduce operating costs but to shift to e-commerce.The move will reduce the sales force on the retail side and also avoid dealing with local politics that have prevented Tesla from operating its own stores (dealerships) in certain states including Connecticut, New Mexico and others. The company further emphasized that this move could boost sales of Model 3 vehicles, by getting to the long-awaited base model price of $35,000. But that's not all.

Tesla CEO Elon Musk has Twitter-teased a potential entrance to the Indian market for the electric vehicle maker in recent years.If the billionaire does ever bring his renewable-energy vision to India, he may want to lead with battery-based energy-storage solutions for the grid rather than electric cars. Read More...

Electric carmaker Tesla is finally launching its long-awaited standard Model 3 starting at $35,000 and shifting all sales online, the company said. Read More...

In a $4.5-billion move designed to meet growing demand for Jeeps, Dodge Rams and electric vehicles, Fiat Chrysler Automobiles plans to turn an old jeep facility into a new Jeep plant in Detroit, as well as investing in five other Michigan factories.The revamp is expected to create nearly 6,500 new jobs. The new Jeep plant will focus on vehicles with higher margin opportunities for the company, such as larger, three-row SUVs, as well as new electric Jeeps, including at least four plug-in hybrid vehicles. Fiat also plans to open two more assembly plants at Detroit’s Mack Avenue Engine Complex for the new Jeep Grand Cherokee and a new large, three-row SUV, and plug-in hybrid models.

Shares of Tesla witnessed fell 4.3% yesterday after the Securities and Exchange Commission (SEC) asked a judge to hold the Company’s CEO, Elon Musk, in contempt of court for violating a settlement deal.The tweet says that Tesla would make “around” 500,000 vehicles this year which meant a production rate of 10,000 cars per week. Musk did not seek prior approval of the SEC before publishing his tweet.

Vancouver-based Electra Meccanica has confirmed that larger-scale production of its single-seat budget electric car is underway at a facility in central China. Read More...

The report says it will no longer recommend the model, sending Tesla’s shares down by nearly 2%. According to the senior director of automotive testing at Consumer Reports, the reliability issues arise from electronics, navigation/infotainment screens, and other issues in terms of the trim breaking and the glass.He further pointed out the Model 3 owned and tested by Consumer Reports had a rear window with a small stress fracture. The slipping quality of the Tesla models has been a long-term concern among analysts who believe this is due to the ambitious ramping up of Model 3 production since last year.

At least one auto industry analyst is skeptical about Tesla CEO Elon Musk's bold claim that the electric car maker will have all the features necessary for full autonomy by the end of the year. Read More...

Putting an end to its long struggle in South America, Ford Motors on Wednesday announced its plan to stop selling heavy trucks in the region in near future. According to the company, the decision is in-line with its newly adopted restructuring plan, whereby the company would take steps to trim its operations and overhaul its business in less successful regions.The plan will likely take years to take shape and is expected to cost $11 billion. Ford is likely to stop commercial production at its Sao Bernardo do Campo plant in Brazil this year, and would stop selling the Cargo lineup, F-4000 and F-350 trucks along with the Fiesta compact car once it sells all its inventory. This is expected to result in a record pre-tax special item charges of about $460 million for the second largest U.S. automaker. The automaker has been long struggling in the South American vehicle market, but this move does not mean a total pullback.

Tesla CEO Elon Musk expects that the electric car maker will have the technology needed to essentially operate vehicles without drivers by the end of the year. Read More...