Faraday begins trading, aims for launch of high-end crossover
Faraday said it closed its merger with Property Solutions Acquisition Corp, giving the EV maker about $1 billion in proceeds to fund the rollout of its FF 91 crossover.
Industry, unions urge Congress to speed semiconductor bills
The groups want lawmakers to finance the Chips Act, which became law earlier this year as part of the 2021 defense bill but was never funded.
Daimler will invest more than $47B in EVs by 2030
Mercedes will be ready to be all-electric by 2030, the automaker said, although it stopped short of giving a hard deadline to stop selling fossil-fuel cars.
Penske, Cox develop used-vehicle online buying platform
The tool, Esntial Commerce, has been rolled out initially at Penske’s CarShop used-vehicle stores before a planned expansion to franchised dealerships.
Hyundai Motor hits six-year high for quarterly net profit
The company’s supply chain management allowed it to navigate the global chip shortage better than many other automakers.