Toyota’s new EV will be slightly bigger than its compact Corolla, the world’s best-selling car of all time. One source told Reuters that the vehicle is like a “Corolla with bigger back-seat section.”
The CEO offloaded another 934,000 shares, advancing toward the goal of selling 10 percent of his stake in the electric car maker.
One of the sellers is Jeff Lash, a former managing partner at GPB Capital, who was indicted this year on charges of securities fraud, sources confirmed to Automotive News.
MEXICO CITY — A proposed U.S. electric vehicle tax credit is “discriminatory” and Mexico is analyzing a range of legal actions in response that may include tariffs, Mexican Economy Minister Tatiana Clouthier said on Thursday.
“In the past we have imposed tariffs and we would have to do or propose something very important and strategic for those products, in those places where it hurts them … so that the consequences can be felt,” Clouthier told a news conference.
Clouthier said this was “not a desirable” course of action, but underscored that Mexico would do everything in its power to safeguard its automotive industry, which directly employs around one million people.
The U.S. Congress is considering a new $12,500 tax credit that would include $4,500 for union-made U.S. electric vehicles. Only U.S. built vehicles would be eligible for the $12,500 credit after 2027, under a House proposal.
Clouthier, who called the measure “totally contrary to free trade,” had previously rebuked the U.S. for pursuing what she described as protectionist policies that were liable to backfire and spur immigration.
Ford’s November bump in light-vehicle sales contrasted with declines at nearly all other companies that reported monthly results.