DETROIT—General Motors Co. Chief Executive Mary Barra told investors on Wednesday that the automaker plans to double revenue by 2030, expanding profits from combustion vehicles as it rolls out new electric vehicles and new digitally powered services in a bid to catch up with Tesla Inc. If GM succeeds, its annual revenue by 2030 would…
Volkswagen Labour Boss Wants Faster Electric Car Rollout at Wolfsburg: Braunschweiger Zeitung
BERLIN—The head of Volkswagen’s works council wants the carmaker to bring forward production of electric vehicles at its main plant in Wolfsburg to 2024 make it more competitive, a newspaper reported on Saturday. The Braunschweiger Zeitung quoted works council chief Daniela Cavallo as saying a global chip shortage and the COVID-19 pandemic were reducing output…
Lucid to Start Deliveries of Electric Cars With Range Exceeding Tesla’s in October
September 29, 2021
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CASA GRANDE, Ariz.—U.S. startup Lucid Group Inc., said on Tuesday it will start delivering luxury electric sedans with a Tesla-beating driving range in late October, posing a major challenge to the market leader whose sales of premium models have stagnated. The California-based Lucid began production of its long-delayed Lucid Air cars at its Arizona factory…
Ford, South Korea to Invest $11.4 Billion to Add Electric F-150 Plant, Three Battery Factories
September 28, 2021
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DETROIT/SEOUL—Ford Motor Co. and its Korean battery partner SK Innovation will invest $11.4 billion to build an electric F-150 assembly plant and three battery plants in the United States, accelerating the U.S. automaker’s push into electric vehicles. Ford said on Monday it now expects to have 40 percent to 50 percent of its global vehicle…
Electric Vehicles May Cut Global Refining Capacity Demand by Half in 2050: Rystad
September 21, 2021
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A global drive towards electrification of road transport to reduce carbon emissions may cut demand for the world’s oil refining capacity by half in 2050, consultancy Rystad Energy says. “Going forward we will be touching by 2050 somewhere very close to 90 percent of electrification,” Mukesh Sahdev, senior vice president and head of downstream at…
Honda Targets Annual Sales of 70,000 Prologue Electric Vehicles in US From 2024
September 20, 2021
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WASHINGTON—Honda Motor Co.’s U.S. unit said on Monday it is targeting initial annual sales of 70,000 for its planned electric Prologue sport utility vehicle when it goes to market in 2024. Honda plans to add additional electric vehicle models as it aims to have sold a total of 500,000 electric vehicles in the United States…
Renault Plans 2,000 Job Cuts in France as It Moves to Electric Cars
PARIS—French carmaker Renault said on Thursday it would cut up to 2,000 engineering and support jobs in France as it shifts into electric cars and hires in different positions. The loss-making group, which has already announced around 4,600 job cuts in the country as part of a broad restructuring, said in a statement it was…
China’s Great Wall to Launch Electric Car and Hybrid SUV in Europe in 2022
MUNICH—Great Wall Motor will launch an electric compact car and a plug-in hybrid SUV in Europe in 2022, it said on Monday, joining a growing number of Chinese carmakers trying their luck on the continent with low or zero-emission vehicles. The company said at the IAA car show in Munich it will start taking orders…
Porsche Recalls Flagship Electric Model Taycan Over Software Issue
FRANKFURT—Luxury sports carmaker Porsche AG must recall 43,000 of its electric Taycan cars over faulty software that can cause the battery-powered engine to suddenly shut down, it said on Friday. The recall affects all Taycan vehicles produced and delivered by June, the company said, adding the cars would receive a software update to fix the…
Daimler Truck Expects Gradual Ramp-Up of Electric Trucks Due to Cost
BERLIN—Daimler Truck, the world’s largest truck and bus maker, expects only a moderate market ramp-up of its first electric truck model, eActros, due to its high price, the sales head of Daimler’s brand Mercedes-Benz Trucks said. The cost of an electric truck is three times as much as one with a combustion engine, Andreas von…
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