Automotive

The EV maker said on Tuesday it was changing its distribution model, which has been based on Tesla’s direct-to-consumer approach.

Its shares fell more than 33% on Thursday after losing 19% in the previous session.

The move is part of a larger push toward subscription revenue for automakers.

President Joe Biden on Monday called for “all sides to work together to forge a fair agreement” as the UAW continued talks with the Detroit 3 automakers.

Peter Stern was named president of Ford Integrated Services, effective Monday, and will report to CEO Jim Farley.

Both companies are major steel suppliers to the U.S. auto industry.

There are 209 battery-powered electric trucks in the marketplace between dealers and customers and the company is recalling those vehicles and is in the process of contacting all parties, Nikola said.

Tesla triggered the China price war that has left its locally made cars as much as 14 percent cheaper than last year, and in some cases almost 50 percent less expensive than in the U.S. and Europe.

Japan’s second typhoon in a week is expected to take a path across the center of the country’s main island — a heavy industrial region with major automobile factories.

CDK Dealership Xperience incorporates the company’s core dealership management system and many other software platforms and tools.