Foxconn’s fingerprints are all over one of the central details in the upcoming all-electric Fisker Ocean SUV. The company unveiled the production-intent version of the Fisker Ocean SUV on Wednesday at the Los Angeles Auto Show. The electric vehicle — Fisker’s first — will have a distinctive 17.1-inch central screen made by Foxconn that can […]
Canoo is setting up headquarters in Walmart’s hometown, picks Panasonic as battery supplier
Canoo, the electric automaker that became a publicly traded company last year, is expanding its U.S. footprint with plans to establish its headquarters and an advanced manufacturing industrialized facility in Bentonville, Arkansas — a city most famously connected with Walmart. “This is an advanced manufacturing facility that will allow us to produce vehicles for unique […]
Elon Musk’s Tesla stock sale hits $5B mark
Elon Musk has sold about $5 billion worth of Tesla stock, according to a slew of regulatory filings that posted late Wednesday. Initial filings showed Musk had sold 934,091 shares for about $1.1 billion out of more than 2.1 million options he received as part of a compensation package. Musk disclosed in a regulatory filing […]
Foxconn buys Lordstown Motors’ Ohio factory for $230M, plans to help produce Endurance electric pickup
Electric light-duty truck manufacturer Lordstown Motors has officially sold its 6.2-million-square-foot Lordstown, Ohio factory to Foxconn, the Taiwanese hardware manufacturing company best known for making Apple’s iPhone. The $230 million deal is expected to close by the end of April next year, according to a statement from Lordstown. The terms of the deal are in […]
Rivian expands into fleet business beyond its ‘exclusive’ Amazon deal
Electric vehicle startup Rivian is expanding a fleet business that appeared to be exclusively tied to Amazon. The company, in which Amazon holds a 20% stake, will start taking orders for its electric delivery vans in 2022, with plans to deliver them to customers by early 2023, according to a new section of Rivian’s website. […]
Amazon reveals 20% stake in Rivian ahead of EV maker’s IPO
Amazon disclosed Friday that it owns a 20% stake in Rivian, the electric automaker that filed for an IPO earlier this month. As of September 30, the e-commerce giant held equity investments, including preferred stock of Rivian that represented about 20% ownership interest, according to the filing. That holding had a “carrying value” of $3.8 […]
Tesla’s deal with Hertz opens a new frontier for the EV maker
Auto rental giant Hertz gave its strongest signal to the markets that it had resurrected from bankruptcy with this week’s news that it would purchase 100,000 Tesla vehicles for a reported $4.2 billion. Hertz made headlines again two days later, when it said that Uber committed to renting up to half of that order for […]
Will Smith, Kevin Durant and Sean ‘Diddy’ Combs invest in electric boat startup Arc
Arc, a startup that launched 10 months ago with ambitions to electrify everything on the water, starting with a limited-edition $300,000 boat, has captured the attention and capital of some of the entertainment industry’s biggest stars. The startup, which closed a seed round in February led by VC firm Andreessen Horowitz, has brought on several […]
Audi turns to software to add more range to its older e-tron EVs
Audi has rolled out a new software update to its 2019 model year e-tron electric SUV that will add up to 12 miles of range to the battery. While the improvement might not seem significant — it is, after all, only 12 miles — it does show how automakers are using software to improve older […]
An all-electric Range Rover is coming in 2024
Land Rover plans to add an all-electric Range Rover to its lineup in 2024, the brand said Tuesday. The announcement was made alongside its reveal of the 2022 Range Rover, the redesigned fifth generation of its luxury SUV that is loaded with tech, features an electrical architecture to support over-the-air software updates and sits on […]