Lordstown Becomes Latest EV Maker to Go Public

Lordstown Becomes Latest EV Maker to Go Public

The steady stream of EV makers looking to go public to raise funds got another player: Lordstown Motors, which will merge with DiamondPeak Holdings, a shell company, to make the shift. The new public automaker, which will build electric pickup trucks aimed at...
Detroit’s Three Automakers Adding More Trucks, SUVs

Detroit’s Three Automakers Adding More Trucks, SUVs

Detroit’s three automakers are stepping up their concentration on trucks and SUVs during the second half of 2020 even as the COVID-19 pandemic lingers and electric vehicles absorb an increasing share of their capital spending. Fiat Chrysler, which will soon go through...
Ford Gets Approval for Deferral on DOE Loan Payments

Ford Gets Approval for Deferral on DOE Loan Payments

The sun continues to shine on Ford, the automaker revealing Friday it received approval to defer some quarterly payments due on its U.S. Energy Department retooling loan. The automaker noted it will repay the loan on time by June 2022. Ford was awarded a $5.9 billion...
Fiat Chrysler Reports $1.24B Loss for Second Quarter

Fiat Chrysler Reports $1.24B Loss for Second Quarter

Fiat Chrysler Automobile N.V. financial results were “significantly” better than expected during the second quarter despite the losses the company suffered as its shipments to dealers dropped by two-thirds due to the impact of the COVID-19 pandemic The company...
Ford Reports Q2 $1.1B Net Income, $1.9B Adjust EBIT Loss

Ford Reports Q2 $1.1B Net Income, $1.9B Adjust EBIT Loss

Automaker after automaker has lined up and reported second quarter losses in the past several days, except Tesla — and now Ford Motor Co., sort of. Ford turned a Q2 profit, reporting $1.1 billion in net income on revenue of $19.4 billion. However, if you take out a...
GM Moves Ahead With Battery Plant

GM Moves Ahead With Battery Plant

The construction of the new battery plant near Lordstown, Ohio is one of the main pillars of General Motors’ electric vehicle strategy took another step forward with the first pieces of steel being raised. GM chairman Mary Barra said steel construction at the all-new...
GM Confirms Hummer Debut “This Fall”

GM Confirms Hummer Debut “This Fall”

General Motors will officially unveil the new, all-electric GMC Hummer “later this fall,” the automaker announced Wednesday. Plans for the “world’s first super truck,” as CEO Mary Barra described it, were teased during a high-profile Super Bowl...