BorgWarner sees slight uptick in Q2 revenue
BorgWarner saw a slight increase in revenue and a slip in net income amid its acquisition of Rhombus Energy Solutions for $130 million.
Automakers concerned over consumer access to EV tax credit in Senate proposal
The EV tax credit proposal unveiled last week by U.S. Democratic Sens. Chuck Schumer and Joe Manchin as part of the Inflation Reduction Act lifts the cap on the current $7,500 tax credit but adds increasingly stringent critical mineral and battery sourcing requirements for automakers as well as limits on vehicle sticker prices and the buyer’s income.
ADAS, autonomous systems to serve different needs for different markets, executives say
Rather than thinking of self-driving tech as an evolution of advanced driving-assistance systems, it would be better to consider them as separate systems evolving at different speeds to serve different markets, some industry executives said.
CATL, citing U.S. House speaker's trip to Taiwan, puts U.S. plant on pause
Chinese EV battery giant CATL decided to push back announcing a multibillion-dollar North American plant to supply Tesla and Ford due to tensions raised by House Speaker Nancy Pelosi’s trip to Taiwan.
Cars.com posts smaller Q2 profit, growth in revenue, dealership customers
Dealership technology company Cars.com reported a smaller second-quarter profit and higher revenue and dealership customer numbers amid the ongoing inventory shortage.