Month: October 2020

By Joey Klender Posted on October 31, 2020 Ever since Tesla gained notoriety for its high-performance electric cars, one song, flashing headlights, and a pair of Model X falcon-wing doors have been popular among YouTube surfers. Among Tesla enthusiasts, the worn-out Trans-Siberian Orchestra dance from the Model X is always a way to gain attention
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DETROIT — See if this sounds familiar: A start-up EV company is basically gifted a modern plant chock-full of world-class production equipment. To reduce product-development costs and time, its first vehicle uses thousands of proven off-the-shelf parts from major suppliers and established automakers. Lordstown Motors is closely following Tesla’s early playbook as it gears up
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MILAN — Fiat Chrysler expects the costs of launching full-electric and plug-in hybrid cars to negatively affect its money-losing European business even more in the fourth quarter than in the third quarter. That is because the industrial costs associated with the automaker’s electrification program will increase, FCA Chief Financial Officer Richard Palmer told analysts during
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TurboZentrum’s heavily-modded Toyota Supra A80 crashed earlier this month during the TTT half-mile drag racing event held at the Lausitzring racetrack in Germany. According the company, Yalcin Belen, who was driving the 1,500-horsepower dragster, had to swerve to avoid an obstacle while doing around 220 km/h (137 mph) in fourth gear. Watch Also: Which Sounds
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As automakers seek to make their vehicles increasingly connected — especially given the myriad benefits that can be provided — there are still some wrinkles to iron out. Chief among them? Cybersecurity threats, consumer data privacy concerns and the possibility of connectivity — or a lack thereof — affecting safety-critical functions of a vehicle. In
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The latest online used-vehicle company preparing to go public has spotted the same trends its predecessors have: a highly fragmented market, relatively low e-commerce penetration and a consumer appetite for online shopping. But CarLotz Inc., a consignment platform that expects to go public via a reverse merger this quarter, raising $321 million in cash, should
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This week on the Electrek Podcast, we discuss the most popular news in the world of sustainable transport and energy, including Tesla’s service push, changes to Tesla’s regen braking, Model 3 2021 gets its EPA rating, and more. Sponsored by Electrify America: Discover all the new and innovative ways that Electrify America is providing freedom for electric vehicle
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Continental CEO Elmar Degenhart is stepping down amid a push by the supplier to overhaul management and speed up structural changes. Degenhart, 61, is resigning his post “for reasons of immediately necessary preventive health care,” Continental said in a statement on Thursday. The company did not name Degenhart’s successor. It said its supervisory board will
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EV startups Fisker and Lordstown Motors are now publicly listed companies, though neither has delivered a product yet. They followed in the footsteps of fellow EV startup Nikola by entering a so-called “reverse merger” with a special purpose acquisition company whose shares are already publicly traded. And more EV-related deals are in the pipeline, including
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Profitability among Toyota and Lexus dealers year-to-date is up almost a third to near-record results, and is tracking even higher as the automaker works to climb back to pre-COVID production levels. “We’re in a completely different place” from six months ago, said Bob Carter, Toyota Motor North America’s head of sales, during a teleconference last
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Fisker Inc. said Thursday it completed a deal to go public by merging with a special-purpose acquisition company, with the proceeds funding operations and development of its first electric vehicle through the start of production in late 2022. Shares of the combined company are expected to trade on the New York Stock Exchange starting Friday
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MILAN — Italy’s biggest auto show has been postponed for a second time because of the coronavirus pandemic. The Milano Monza Open-Air Motor Show is now scheduled to take place next spring, with the exact dates yet to be announced. Italian businessman and classic car enthusiast Andrea Levy, the show’s director, said the country’s auto
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Swiss designer Philipp Plein has lost a legal battle against Ferrari and been ordered to pay €300,000 ($352,000) in compensation to the Italian car manufacturer. The case relates to a spring 2018 runway show that Plein held in Milan in June 2017. During this event, Plein featured a host of exotics, including Ferraris, Lamborghinis and
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In an unpredictable year upended by the coronavirus pandemic and the resulting recession, next week’s presidential election should answer at least one question: Who will shape the nation’s policy affecting the auto industry over the next four years? Incumbent Donald Trump and challenger Joe Biden, though starkly different in campaign rhetoric and approach, do converge
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