Automobile

Bloomberg On its website, Mercedes-Benz describes the 2021 Mercedes-AMG GT63 S as “a four-door supercar.” This is a bit much, notwithstanding the fact that at 16 mpg in the city, it is about as thirsty as one. Mention a supercar built for four and image of the $1.7 million Koenigsegg Gemera would spring to mind, or the menacing and tactical ...

Bloomberg Tesla Inc has sought lower taxes on import of electric vehicles in India, people with the knowledge of the matter said, as it looks to commence operations in Asia’s third-largest economy. The California-based maker of electric vehicles has written to the transport and industry ministries for reducing import duty on electric cars to 40% from the current range of ...

Bloomberg Volkswagen ratcheted up its mid-decade profitability goal as it hones plans to become the electric-car leader and cash in on what it expects to be a massive new revenue stream from software. Europe’s largest automaker will target an 8% to 9% operating return on sales in 2025, up from 7% to 8% previously. After wooing investors with a Tesla ...

Bloomberg Automakers’ sales soared in the second quarter as consumers snapped up sport utility vehicles and pickups, but thin inventories created by the global semiconductor shortage are tempering the pace of the industry’s recovery. General Motors Co, Toyota Motor Corp and others said that their sales soared in the most recent quarter, buoyed by pent-up demand for vehicles as Americans ...

Bloomberg BMW kicked off assembling its latest electric car, using the occasion to tout green credentials it hopes will appeal to buyers and regulators who increasingly demand sustainable products. The German automaker started series production of the battery-powered iX SUV at its Dingolfing plant near Munich, which sources hydroelectric power from nearby rivers. The model is expected to go on ...

Bloomberg Tesla Inc delivered 201,250 cars worldwide in the second quarter, a record for the electric-car maker led by Chief Executive Officer Elon Musk. While the company doesn’t break out sales by region, business appeared healthy in China. The bulk of the period’s sales were of the Model 3 sedan and the Model Y crossover, which are produced in Shanghai ...

Bloomberg Renault SA aims to cut the cost of its batteries by 60% over the next decade as the French carmaker ramps up production of electric vehicles in Europe. Renault also plans to lower the costs of its electric motors by 30%, make them more compact and extend their range, the company said in a statement. “The Renault brand aims ...

Bloomberg Honda Motor Co has become the first of Japan’s automakers to state publicly it will phase out sales of gasoline-powered cars completely, setting 2040 as the goal and giving newly minted Chief Executive Officer Toshihiro Mibe a once-in-a-career chance to put his stamp on a firm that can trace its lineage back 84 years. “It’s a very bold target,” ...

Bloomberg Tesla Inc plans to recall more than 285,000 electric vehicles sold in China to address risks associated with its autopilot feature after an investigation conducted by the country’s market regulator. The electric car maker will recall 211,256 locally-produced Model 3 vehicles and 35,665 imported ones, as well as 38,599 China-made Model Ys because their autopilot systems are too easily-activated ...

Bloomberg General Motors Co is raising the stakes in the electric-vehicle race, boosting its investment in future technology for a second time in eight months with plans to spend $35 billion on more than 30 plug-in vehicles by 2025 and a total of four battery plants. The automaker said the stepped-up investment reflects stronger-than-expected financial results for the year. Higher ...