Automobile

Bloomberg Apple Inc. plans to build a self-driving car for consumers and is targeting 2024 to produce the vehicle, Reuters reported. The company is developing its own battery technology that could reduce the cost of power packs and extend the vehicle’s range, Reuters said Apple is tapping outside partners for elements of the system, including lidar sensors that provide autonomous ...

Bloomberg Retail sales in Canada came in better than expected in October as more people bought cars, underscoring the effects of government income support and a recovering labour market. Sales climbed 0.4% from the prior month, Statistics Canada said in Ottawa, the sixth-straight monthly increase. Economists predicted no change. The September figure was revised to a gain of 1.9% from ...

Bloomberg Volkswagen AG, the German automaker, is bracing for a major production disruption from a shortage of semiconductors. The world’s largest automaker will need to adjust first-quarter manufacturing plans around the globe because of the bottleneck, VW said in an emailed statement, without giving specific figures. The number of cars affected could be in the low six-digit range. The situation ...

Bloomberg Chinese electric-car maker Nio Inc joined the rush for fundraising among new-energy vehicle manufacturers, capitalising on a 11-fold increase in its share price this year to boost its coffers. The manufacturer is selling 60 million American depositary shares in a follow-on offering, and has the option to sell another nine million, according to a statement. Based on its latest ...

Bloomberg Car-sharing startup Turo Inc is returning to New York, seven years after leaving the state that was once its biggest market over a dispute with regulators about insurance rules. Turo, which allows vehicle owners to put their personal cars up for daily rentals through its website and smartphone app, aims to compete with traditional offerings from Avis Budget Group ...

Bloomberg Volkswagen AG is accelerating development of a compact electric car that will cost less than 30,000 euros ($35,800) as tightening emissions rules and generous subsidies bolster sales of battery-powered vehicles, according to people familiar with the matter. The VW-branded car may be introduced as early as 2023, flanking the ID.5 crossover to be sold from next year as well ...

Bloomberg Ford Motor Co’s Lincoln luxury line hopes some interior redecorating will revive its slowest selling sport-utility vehicle (SUV): the mid-sized Nautilus. Lincoln has built its comeback on brash behemoths like the Navigator SUV. But sales of the Nautilus, with two rows of seats, have fallen 31.2% this year even as the brand’s total SUV deliveries rose. So Ford overhauled ...

Bloomberg General Motors (GM) is laying the groundwork for a bigger bet on electric vehicles, telling investors at a virtual conference it plans to boost spending on them by more than a third to $27 billion as part of a push to introduce 30 battery-powered models by 2025. The initiative represents an increased investment of $7 billion and 10 more ...

Bloomberg Ford Motor Co, playing catch-up to Tesla Inc in electric cars, is rolling out a battery-powered cargo van to lay claim to a new segment of the commercial fleet market that its gas-powered vehicles dominate. Chief Executive Officer Jim Farley unveiled an electric version of its Transit model, the ubiquitous airport shuttle, delivery and service van that is the ...

Bloomberg Walmart Inc is about to team up with Cruise LLC, the self- driving car unit majority-owned by General Motors Co, to experiment with delivering customer orders using driverless vehicles. Cruise’s robot-piloted cars will ferry orders to customers’ homes from a Walmart store in Scottsdale, Arizona, starting early next year, Tom Ward, the retailer’s senior vice president of customer product, ...