Auto

Automakers are accelerating efforts to use less palladium and more platinum due to worries over palladium supply from Russia, the World Platinum Investment Council (WPIC) said on Monday, predicting a large surplus in the platinum market this year.

Ford Motor has trimmed its stake in the electric carmaker Rivian Automotive for the second time in a week.

Hyundai Motor Group is planning to build a $7 billion electric vehicle plant in Georgia and will announce the details next week, according to a U.S. official.

Embark co-founder and CEO Alex Rodrigues argues driverless semi-trucks will "dramatically" improve supply chain efficiency – "hopefully" fixing problems for the long haul.

Foxconn will build the Fisker PEAR electric SUV at its new Ohio factory starting in 2024.

In rare cases of very severe corrosion, hard breaking could potentially cause mechanical damage to the brake booster, resulting in brake failure and increasing the risk of a crash. A foot-activated parking brake would still work.

Rivian has received 10,000 additional reservations for its electric vehicles since raising prices in March. The automaker expects to build 25,000 vehicles during 2022.

Lordstown Motors has closed a deal to sell its 6.2 million-square-foot Ohio factory to Foxconn for $230 million plus the reimbursement of approximately $27 million in operating and expansion costs.

Stifel analyst Scott Devitt has downgraded the used car dealer's stock from "buy" to "hold" and slashed the firm's price target from $115 to $40 per share.

Ford CEO Jim Farley says the idea for the F-150 Lightning was suggested by a big investor and that the all-electric truck is "history in the making" for the automaker.

A federal judge has found that Tesla Inc. CEO Elon Musk's 2018 tweets that funding was secured to take the automaker private were reckless.

Toyota Motor Corp. said Wednesday that its fourth-quarter net profit fell 31% compared with the same period a year earlier and projected a drop in earnings for new fiscal year due to higher costs.

Online car dealer Carvana Co. plans to lay off 12% of its workforce after closing a deal to expand operations that forced the company to borrow on onerous terms.

Wholesale used car prices were down 1% in April, marking four straight months of declines.

California is working to reduce its greenhouse gas emissions by "40% below 1990 levels by 2030," according to the California Air Resources Board.

Ford will fine dealers $25,000 if they sell their electric F-150 Lightning demo trucks early.

Rivian automotive shares may be poised to flood the market as the post-IPO lockup period for the electric vehicle maker expires on Sunday.