BMW to offer full-electric 5 Series, X1 in emissions push
The automaker aims to have 25 electrified models on the roads by 2023, with about half of them full electric.
Faurecia expects return to profitability in second half
The French supplier reported a first-half operating loss of $134 million, with sales falling by 35 percent. CEO Patrick Koller expects a profit margin of 4.5 percent in the second half, with a net cash flow of $705 million.
Florida’s insurer of last resort extends moratorium on cancellations
Florida’s insurer of last resort says it won’t cancel any policies for the rest of the year because of the challenges facing policyholders in the middle of a pandemic.
Electric SUV maker seeks up to $950 million in U.S. IPO
Li Auto, which develops, manufactures and sells smart SUVs, plans to sell 95 million shares at $8 to $10 apiece, the Beijing company said in a filing with the Securities and Exchange Commission.
Mitsubishi forecasts loss for second year in a row
The automaker expects an operating loss of $1.33 billion for the fiscal year as it embarks on a cost-cutting plan to shrink its workforce, production and dealer network.