Ford CEO Farley outlined plans for automaker’s electric vehicle shift

Electric vehicle batteries are in short supply, and costs for materials such as nickel and cobalt are surging. Yet legacy automaker Ford Motor says it plans to be profitably building millions of EVs a year in just four years. This week, the Detroit automaker gave investors a little more clarity about how it plans to … Read more

US Postal Service to boost purchases of electric vehicles

The U.S. Postal Service said it will substantially increase the number of electric-powered vehicles it’s buying to replace its fleet of aging delivery trucks, after the Biden administration and environmental groups said the agency’s initial plan had too few electric vehicles and fell short of the administration’s climate change goals. The Postal Service now wants … Read more

GM’s Mary Barra talks future of electric vehicles

NEW YORK (AP) — The economy is a bit wobbly, but General Motors CEO Mary Barra isn’t backing off of an audacious prediction: By the middle of this decade, her company will sell more electric vehicles in the U.S. than Tesla, the global sales leader. To fulfill that pledge in as little as 2 1/2 … Read more

GM Has an Answer for a Tesla Big Advantage

Tesla  (TSLA) – Get Tesla Inc. Report is known as the industry leader in everything related to electric vehicles. CEO Elon Musk’s trend-setting company set records in producing the most electric vehicles in 2021 with 930,422 built and delivering the most at 936,222 EVs. The company is looking to deliver well over 1 million vehicles in … Read more

Elon Musk Adds a New Twist to the Twitter Saga

Elon Musk versus Twitter  (TWTR) – Get Twitter Inc. Report: It’s a battle royale. It’s a battle of titans that will have important consequences for mergers and acquisitions in the future.  The world’s richest man and CEO of Tesla  (TSLA) – Get Tesla Inc. Report abruptly withdrew his $44 billion bid to acquire the microblogging website … Read more

Tesla and Musk Will Soon Enter a New Lucrative Industry

Elon Musk and Tesla  (TSLA) – Get Tesla Inc. Report seem ready for a new challenge.  The serial entrepreneur is one step closer to his ambition to turn Tesla cars into living rooms on four wheels where passengers can be entertained by watching films and TV shows in streaming, even playing their favorite video games or … Read more

Walmart Gives Embattled Tesla Rival Canoo a Lifeline

Canoo  (GOEV) – Get Canoo Inc. Report, a young electric-vehicle manufacturer navigating serious financial stresses, got a lifeline just when it needed it. The financial problems have clouded Canoo’s future, to the point where analysts were wondering whether the company would file to reorganize or would be bought by either a competitor or by a company … Read more

Mercedes Sales Drop As Supply Chain Issues Take Hold

Photo: Jade Gao/ AFP) (Getty Images) Mercedes Benz saw its sales drop 16 percent in the three months between April and the end of June, Ford recalls 100,000 trucks due to fire risks, and Tesla boss Elon Musk tries to back out of his Twitter buyout. All that and more in The Morning Shift for … Read more

Toyota Loses Big Advantage to Tesla and GM

Toyota  (TM) – Get Toyota Motor Corporation Report is on one knee.  The Japanese automaker has enjoyed a big advantage for a long time, enabling it to seduce consumers interested in less polluting vehicles. This advantage has just disappeared at the worst time for the vehicle manufacturer, which has chosen a different strategy in electrification compared … Read more

$1,000 Monthly New Car Payments Becoming Increasingly Normal

Photo: Spencer Platt (Getty Images) There’s another exciting new metric for how expensive cars are getting, Tesla’s global factory logjams are catching up with it and Renault and Nissan need to leave each other already. All that and more in this Friday edition of The Morning Shift for July 1, 2022. 1st Gear: Sign of … Read more