Amid another reset, Shift Technologies is evaluating options to raise additional capital
The company is considering “all avenues” to raise capital, including negotiating with its debt holders, company CFO Oded Shein said Thursday.
News
Changan Ford Motor to set up electric car JV with Chongqing Changan Auto
Changan Ford Motor will own a 60% stake and Chongqing Changan Automobile the remaining 40% stake.
AutoCanada Q2 net income rises 16% to $45 million
AutoCanada Executive Chairman Paul Antony credited improving new-car inventories, greater internal efficiency readying used vehicles for resale and the “robust performance” of dealership service departments for the strong results.
Penske buys 2 North Carolina luxury dealerships
Penske Automotive Group chairman Roger Penske said the publicly-held retailer is pleased to enhance its premium retail automotive brand mix in the Southeast.
Carmakers are playing catch-up with Tesla on air filtration
In the U.S., the average person spends about five years of their life in a vehicle, which isn’t the best place to be from a clean-air perspective.
U.S. opens investigation into fatal Tesla crash in Virginia
The Fauquier County Sheriff’s Office said the 57-year-old Tesla driver was killed after the tractor trailer was attempting to turn onto a highway from a truck stop.
EV maker VinFast set to list on Nasdaq in rare SPAC venue switch
The planned Nasdaq listing caps VinFast’s years-long efforts to become a publicly traded company.
Suppliers are rushing to secure sources of new silicon carbide chips
Suppliers around the world are betting big on silicon carbide microchips being the key to automakers hitting ambitious EV targets, spending billions of dollars to secure a supply of them or even to make their own.
Indonesia gives automakers more time to qualify for EV credits in investment bid
Indonesia’s government has set an ambitious target of producing some 600,000 EVs by 2030.
Linamar forms new structures group after improved Q2 earnings
Linamar posted record revenue and improved earnings in the second quarter of 2023, as its industrial unit showed continued strength and automotive parts sales stayed on the rebound from their pandemic-era lows.