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Markets continued to see-saw on Tuesday as Trump administration officials tried to calm anxious investors. The latest to try to reverse recent volatility was Commerce Secretary Howard Lutnick, who appeared on CNBC to hint at a possible trade deal. “I have a deal done, done, done, done, but I need to wait for their prime … Read more
Autoworkers at Nissan’s Smyrna Vehicle Assembly Plant in Tennessee, June 6, 2022. The plant employs thousands of people and produces a variety of vehicles, including the Leaf EV and Rogue crossover. Michael Wayland / CNBC The White House on Tuesday confirmed plans for the Trump administration to soften the impact of automotive tariffs, as the … Read more
President Donald Trump plans to lessen the economic pain his administration has inflicted on the global auto industry with another tweak to his evolving tariff policy. On Monday, the White House confirmed a Wall Street Journal report that it would limit import duties for carmakers and their suppliers to the 25% of the value of cars and … Read more
Slate Auto, the buzzy new EV startup that broke stealth this week, is close to locking in a former printing plant located in Warsaw, Indiana as the future production site for its cheap electric truck, a review of public records shows. The company is expected to lease the 1.4 million-square-foot facility for an undisclosed sum. … Read more
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A new American electric vehicle startup called Slate Auto has made its debut, and it’s about as anti-Tesla as it gets. It’s affordable, deeply customizable, and very analog. It has manual windows and it doesn’t come with a main infotainment screen. Heck, it isn’t even painted. It can also transform from a two-seater pickup to … Read more
Jamell Harris loads raw casting heads to be manufactured at the Stellantis Dundee Engine Complex on August 18, 2022 in Dundee, Michigan. Bill Pugliano | Getty Images DETROIT – Six of the top policy groups representing the U.S. automotive industry are uncharacteristically joining forces to lobby the Trump administration against 25% tariffs on auto parts … Read more
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. China’s latest export controls on rare earth minerals could cause shutdowns in automotive production, with stockpiles of essential magnets set to run out within months if Beijing fully chokes off exports. Beijing expanded its export … Read more
If you want to know why the most technologically advanced cars are currently built in China rather than the United States or Europe, two numbers describe the breakneck pace of innovation there. 50 represents the overall penetration rate of so-called New Energy Vehicles as a share of the overall Chinese market. In other words, an … Read more
President Trump’s tariffs that took affect earlier this month are proving to be almost as disruptive to the U.S. auto industry as the global coronavirus pandemic and the Lehman Brothers bankruptcy. On Monday, auto industry forecaster S&P Global Mobility cut a staggering 700,000 cars and light trucks from its U.S. sales estimate for this year. … Read more
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