Automobile

Bloomberg After seven years of false starts, delays and management changes, Apple is going full throttle on developing an electric car. Under its new leader, Apple Watch software chief Kevin Lynch, the team behind the car project is now pushing hard to debut a product by 2025. It’s trying to build a vehicle that, without a steering wheel and pedals, ...

Bloomberg Nissan Motor Co raised its annual operating profit outlook, a promising sign the automaker is still on track to climb out of the red this year despite parts shortages that have hammered production. The Japanese carmaker raised its forecast to an operating profit of $1.6 billion for the fiscal year through March, from 150 billion yen announced in July. ...

Bloomberg Apple Inc, bolstering its car-development efforts, hired a former engineer from Tesla Inc. who drew controversy this year for remarks about that company’s Autopilot feature. The iPhone maker tapped Christopher “CJ” Moore for its team working on a self-driving car, according to people with knowledge of the matter. Moore is working on the effort’s software, reporting to Stuart Bowers, ...

Bloomberg BMW AG earnings jumped to beat expectations after higher vehicle prices and prioritizing money-spinning models like the $75,000 X7 SUV helped the company offset output reductions due to the dearth of chips. Group earnings before tax surged 50% to 2.9 billion euros ($3.4 billion) in the third quarter, BMW said, compared with an average analysts’ estimate of 2.5 billion ...

Bloomberg Ferrari NV slightly raised its full-year profit target after the Italian supercar maker managed to dodge most of the supply-chain snarls weighing on mass-market automakers. Ferrari forecasts adjusted earnings before interest, taxes, depreciation and amortisation of about $1.76 billion for 2021 after a jump in third-quarter shipments and profit, it said. New Chief Executive Officer Benedetto Vigna is under ...

Bloomberg Chinese electric vehicle startup Xpeng Inc unveiled details of new products and features including an assisted driving system, a faster charging infrastructure and a flying car as it signalled its intent to expand from its auto-manufacturing roots. The Guangzhou-based company also launched the prototype of a ridable robot horse at its so-called “Tech Day.” Xpeng said 60% of its ...

Bloomberg Toyota Motor Corp is kicking off its first series of electric vehicles bound for the global market with a battery-powered SUV that the Japanese automaker says embodies the reliability and efficiency underpinning the Toyota brand. The “bZ4X,” which resembles Toyota’s popular Rav-4, is set for release in North America, Japan, China and Europe in mid-2022, the company said. With ...

Bloomberg Renault SA will lose out on far more car production this year than previously anticipated because of the worsening global chip shortage, another obstacle to the carmaker’s turnaround plans. The French manufacturer will make around 500,000 fewer vehicles — that’s equivalent to nearly a fifth of last year’s output — due to a lack of components, it said. Renault ...

Bloomberg Car and motorbike maker Honda Motor Co is positioning itself for a vertical takeoff. The Tokyo-based company is embarking on efforts to field a new electric-hybrid air taxi, a robot with human-like hands that may one day toil on the moon and a reusable rocket to carry small satellites into space more economically. Honda’s vision of how people will ...

Bloomberg Toyota Motor Corp cut its global car production target for November by around 15% from an earlier plan as a shortage of parts continues to weigh on the world’s No. 1 automaker. The Japanese company had initially planned to make 1 million cars next month but now expects to do only around 850,000 to 900,000 units, it said. “Since ...