Automobile

  Bloomberg Volkswagen AG is sticking to a plan to list its iconic Porsche sports-car maker later this year as Europe’s biggest carmaker looks to finance a costly shift toward electric vehicles. VW is going ahead with the initial public offering in the fourth quarter because the unit has proven resilient over the years to market disruptions including the recent ...

  Bloomberg General Motors Co’s Cruise LLC plans to expand its robotaxi business to all of San Francisco this year and move into other cities beginning in 2023, a growth push that comes on the heels of its first self-driving vehicle rides to carry paying customers. The company started charging fares for rides covering one-third of the city between 10 ...

  Bloomberg Electric-vehicle (EV) prices are going up at a dizzying pace these days. Tesla raised prices by as much as $6,000 per car this week. Rivian bumped up the ask on its battery-powered R1T pickup truck in March, while Ford hiked the sticker on the Mach-E. Add it all up and an electric car now costs $61,000 on average, according ...

  Bloomberg Close to a third of all vehicles sold in India are expected to be electric by 2030, but they will mostly be two- and three-wheelers, as expensive battery-powered cars would be outside the reach of many consumers in the world’s fourth-largest automobile market. By that time, nearly one in every 10 electric vehicles sold worldwide will be in ...

  Bloomberg Ferrari NV will introduce its first fully electric model in 2025 as the Italian carmaker accelerates its shift away from combustion engines. The Italian luxury sports car manufacturer expects adjusted earnings before interest, taxes, depreciation and amortization to climb to as much as 2.7 billion euros ($2.8 billion) in 2026, an increase from 1.5 billion euros last year, ...

  Bloomberg Ferrari plans to significantly expand its factory in northern Italy as part of the electrification strategy it will unveil during a highly anticipated briefing next week. The supercar manufacturer has snapped up space near its Maranello plant and started clearing way for a third production line that will be dedicated to making hybrid and electric vehicles. The expansion ...

Bloomberg The global semiconductor shortage that’s bogged down the auto industry for almost two years is showing signs of easing, at least for now. Mercedes Benz AG, Daimler Truck Holding AG, and BMW AG are among carmakers now getting enough of the high-tech components to produce at full capacity after experiencing crippling outages for months. The breakthrough comes earlier than ...

  Bloomberg Mercedes-Benz Group AG will recall almost a million vehicles worldwide because of a potential problem with the braking system, Agence France-Presse (AFP) reported, citing the German federal transport authority. The regulator, known as KBA, said in a statement June 1 that the affected cars were built between 2004 and 2015 and belong to the ML and GL sports ...

  Bloomberg Renault SA is developing a family-sized passenger car that will run on electricity for short drives and hydrogen for longer trips as part of the company’s push into fuel-cell technology. Dubbed Scenic Vision, the vehicle will have a carbon footprint that’s 75% lower than a conventional electric vehicle because it uses mostly recycled materials, a smaller battery and ...

  Bloomberg Mercedes-Benz AG will cut back its entry-level suite of cars as part of a strategic overhaul that will channel more than three-quarters of the carmaker’s investment to its higher-end vehicles. Mercedes unveiled its plans to major investors, placing the drive for greater profitability on its so-called top end vehicle segment, home to the iconic G-Wagon, the flagship S-Class ...