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President Donald Trump is giving domestic automakers additional relief from tariffs on auto parts, extending what was supposed to have been a short-term rebate until 2030. It’s part of a proclamation Trump signed Friday that also made official a 25% import tax on medium and heavy duty trucks, starting Nov. 1. The action reflected the administration’s efforts … Read more
Stellantis, the car-making giant behind Chrysler, Fiat, Jeep, Dodge, Ram, and other brands, has confirmed a data breach involving customers’ personal information. In a statement published Sunday, Stellantis said it experienced a breach of a “third-party service provider’s platform that supports our North American customer service operations.” The statement said “contact information” was taken, but … Read more
Earlier this month, the Chinese aerospace company Geespace said it sent 11 satellites into orbit. The satellites went up in Geespace’s fourth rocket launch since 2022, bringing its total “IoT constellation” from 30 to 41 satellites. By the end of this year, it has ambitions to deploy 72 satellites, which will provide global data coverage … Read more
Mikael Sjoberg | Bloomberg | Getty Images Swedish-based automaker Volvo Cars on Tuesday announced cost-cutting plans of 18 billion Swedish krona ($1.87 billion) as its operating profit fell sharply in the first three months of the year. Volvo Cars, which is owned by China’s Geely Holding, reported first-quarter operating profit of 1.9 billion krona, down … Read more
Hyundai celebrated the opening of its new $7.6 billion electric vehicle factory in Georgia on Wednesday by announcing plans to expand its production capacity by two-thirds to a total of 500,000 vehicles per year. The news came as President Donald Trump announced 25% tariffs on auto imports at the White House. Hyundai will be spared from those … Read more
Vehicles are offered for sale at a Nissan dealership on December 18, 2024 in Libertyville, Illinois. Scott Olson | Getty Images In its most recent quarterly results, Nissan said it would cut 9,000 jobs and reduce global production capacity by a fifth. The automaker has “been struggling in the market, it’s been struggling at home, … Read more
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