AUTO

Automaker lobby group: 70% of EV models won't qualify for EV tax credit

Auto lobby group worries that most U.S. EVs disqualified for EV tax credit

Automaker lobby group Alliance for Automotive Innovation says that if additional sourcing requirements go into effect, U.S. automakers won’t qualify for the full credit. According to Reuters, these automakers have been privately expressing their worries about the proposal’s increasing requirements regarding batteries and critical mineral contents being sourced from the U.S. John Bozzella, head of …

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Toyota unit falsified emissions data from at least 2003, probe finds

Toyota unit falsified emissions data from at least 2003, probe finds

Hino Motors Ltd displays its new Hybrid Profia, a diesel-hybrid version of its large commercial truck model at its R&D Centre at Hino in Tokyo, Japan July 17, 2018. REUTERS/Naomi Tajitsu/File Photo Register now for FREE unlimited access to Reuters.com Register Committee publishes report on false data scandal at Hino Says engineers didn’t feel able …

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‘Savings are gonna run out’: Already battered by high inflation, Fed’s rate hike will hit lower-income and rural Americans hard

‘Savings are gonna run out’: Already battered by high inflation, Fed’s rate hike will hit lower-income and rural Americans hard

The Federal Reserve hiked its benchmark rate by 0.75 percentage points on Wednesday in an effort to temper the rising costs of consumer goods and services.  While economists say raising the interest rate will help cool consumer demand and hopefully ease record-high inflation, it will also raise the cost of borrowing for everything from houses …

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Wall Street rallies with earnings in full swing

Wall St ends up sharply for 2nd day; Amazon.com, Apple jump after hours

U.S. economy contracts in the second quarter Meta Platforms revenue drops for first time Ford shares gain after results Indexes: Dow up 1%, S&P 500 up 1.2%, Nasdaq up 1.1% NEW YORK, July 28 (Reuters) – U.S. stocks on Thursday rallied for a second day, with all three major indexes ending up more than 1% …

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Exclusive: Hyundai subsidiary has used child labor at Alabama factory

Exclusive: Hyundai subsidiary has used child labor at Alabama factory

LUVERNE, Alabama, July 22 (Reuters) – A subsidiary of Hyundai Motor Co has used child labor at a plant that supplies parts for the Korean carmaker’s assembly line in nearby Montgomery, Alabama, according to area police, the family of three underage workers, and eight former and current employees of the factory. Underage workers, in some …

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Nasdaq rose as Tesla posted strong earnings

Nasdaq rose as Tesla posted strong earnings

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., June 30, 2022. REUTERS/Brendan McDermid/File Photo Register now for FREE unlimited access to Reuters.com Register Tesla shares rise as profit tops expectations Energy stocks lead sectoral declines AT&T drags down communication services sector Indexes mixed: Dow up 0.08%, …

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Ford announces series of deals to accelerate EV push

Ford announces series of deals to accelerate EV push

Ford CEO Jim Farley attends the official launch of the all-new Ford F-150 Lightning electric pickup truck at the Ford Rouge Electric Vehicle Center in Dearborn, Michigan, U.S. April 26, 2022. REUTERS/Rebecca Cook/File Photo Register now for FREE unlimited access to Reuters.com Register DETROIT, July 21 (Reuters) – Ford Motor Co (F.N) on Thursday announced …

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Tesla profit tops target; Musk sees no demand problem

Tesla profit tops target; Musk sees no demand problem

A Tesla logo is seen in Los Angeles, California U.S. January 12, 2018. REUTERS/Lucy Nicholson Register now for FREE unlimited access to Reuters.com Register July 20 (Reuters) – Tesla Inc (TSLA.O) on Wednesday reported a smaller-than-expected drop in quarterly profit as a string of price increases on its electric vehicles (EVs) helped offset production challenges …

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