Rivian prices shares at $78 in highly anticipated IPO
Rivian Automotive Inc. priced its highly anticipated initial public offering at $78 a share, well above its raised expectations, valuing the electric-vehicle maker at more than $77 billion on a fully diluted basis, according to a person familiar with the matter.
Ford, GM profits fall as sales drop due to chip shortage
The global computer chip shortage cut into third-quarter profits at both Ford and General Motors, with both companies having to temporarily close factories
Ford poaches Lowe's exec in another tech hire
Ford has hired away a Lowe's executive to take over as new chief digital and information officer as the carmaker makes another major tech hire.
EU considers help for rare earth magnet production - sources
The EU is working on proposals to jump-start home output of a type of specialist magnet vital in electric car motors by offering support to local producers so they can compete with Chinese rivals, sources close to the situation said.
US agency orders automated vehicle makers to report crashes
The U.S. government's highway safety agency has ordered automakers to report any crashes involving fully autonomous vehicles or partially automated driver assist systems.
Chip shortage casts shadow on China's auto industry recovery
Auto industry executives are rattled by a global shortage of semiconductors which is hitting production in China, after hoping the world's biggest car market could spearhead global recovery in the sector.
Ford making cars out of coffee
Teamed up with McDonald's for new type of plastic