ORGANIZATION

GM beats inflation as US demand drives quarter

The automaker reported net income of $3.3 billion, or $2.25 per share, on revenue of $41.9 billion. Net income for the quarter was driven by a new vehicle sales increase of 24% in the United States.

Toyota eyes Tesla, scrambles for EV reboot

A working group within Toyota has been charged with outlining plans by early next year for improvements to its existing EV platform or for a new architecture, sources said.