Automobile

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 ...

Bloomberg Waymo, Alphabet Inc.’s self-driving car unit, said it raised $2.5 billion in a recent funding round to help advance its technology and replace a management team rocked by departures. Earlier this spring, Waymo had been talking to outside investors about raising as much as $4 billion, Bloomberg has reported. The Google sibling has lost six key executives in rapid ...

Bloomberg Lamborghini said it’s almost sold out for the year as an easing pandemic unleashes a free-spending attitude among consumers confined to their homes for months. The Italian supercar brand is set for “strong growth” in 2021 and has sold about 10 months of its production capacity, Chief Executive Officer Stephan Winkelmann said in an interview at the Milano Monza ...

Bloomberg French investigators said Volkswagen AG has been charged in a fresh crackdown on alleged deception over diesel emissions that’s also embroiled rival Renault SA. VW was charged on May 6 and must now make a 10 million-euro bail payment and provide a 60 million-euro bank guarantee, an official at the Paris prosecutor’s office said in a statement. The announcement ...

Bloomberg Apple Inc has hired Ulrich Kranz, a former senior executive at BMW AG’s electric car division, to help lead its own vehicle efforts. The technology giant hired Kranz, about a month after he stepped down as chief executive officer of Canoo Inc, a developer of self-driving electric vehicles. Before co-founding Canoo, Kranz was senior vice president of the group ...

Bloomberg Nissan Motor Co is pushing back the release of its flagship Ariya electric vehicle, highlighting the struggle automakers everywhere are facing in trying to launch new cars amid a persisting shortage of semiconductors. When the Ariya SUV was first unveiled in July last year, Nissan said it was scheduled to go on sale in mid-2021. The company said a ...

Bloomberg The main thing Ferrari will tell you about the 2021 Ferrari SF90 Stradale is how much of a bargain it is. The arithmetic requires some squinting around the edges of elitism and a healthy injection of relative logic. It goes like this: The two-door coupe is the second hybrid from Modena, Italy’s crown jewel, the first being the La ...

Bloomberg Ford Motor Co is boosting spending on electric vehicles by at least 36% to $30 billion over the next four years and said that by the end of the decade, four out of 10 models it sells will be battery-powered. The investment includes creating a range of batteries the carmaker is calling IonBoost and the development of solid-state batteries ...

Bloomberg BMW AG will raise its earnings forecast for the year because it expects an antitrust fine from European Union will be much smaller than anticipated two years ago. The automaker said it will get a roughly $1.2 billion boost to earnings this quarter from revaluing a provision for an EU fine over allegations that it colluded with its German ...

Bloomberg Jaguar Land Rover’s (JLR) Indian owner reported a pretax profit in three months through March as a recovery in Chinese demand lifted sales of the automaker’s luxury sports cars and SUVs. Tata Motors Ltd posted fourth-quarter earnings of 57 billion rupees before tax and one-time items, rebounding from a loss of 65 billion rupees a year earlier. Revenue soared ...