Tesla's rivals pile on, GM's plan, and the Baltimore bridge collapse: Autos news roundup
Xiaomi’s the name, and innovation’s the game: The Chinese smartphone maker officially revealed the specifications and price tag of the SU7, an electric sedan to rival Tesla’s Model 3. Meanwhile, leading Chinese carmaker BYD is officially a big(ger) deal than Elon Musk would appreciate, especially as Tesla pushes free trials of its driver assistance technology to bolster sales.
Nissan is pushing forward with its own electrification plans, pledging to unveil 30 cars — about half of which will be electric — over the next three years, while Saudi Arabia is digging deeper into the EV industry. Plus, Ford Motor Co. is trimming its workforce dedicated to the Ford 150-Lightning EV, GM CEO Mary Barra has three targets for her company, and Fisker is inching closer to bankruptcy.
The fallout of the catastrophic collapse of the Francis Scott Key Bridge in Baltimore is disrupting supply chains for automakers. Manufacturers have already recalled 4 million vehicles this year, as Subaru joins Chrysler and Dodge in recalling cars over airbag-related issues.
Go back: Visit last week’s roundup featuring Elon Musk’s Tesla woes, Mercedes and Stellantis recalls, Fisker’s looming bankruptcy, and more.
Chinese smartphone giant Xiaomi is taking on Tesla’s Model 3 with a cheaper EV
A new competitor is driving headfirst into China’s electric vehicle market, launching with a direct challenge against Elon Musk’s Tesla and taking shots at Apple.
3 things GM needs to win over shareholders, according to CEO Mary Barra
There are 3 things that General Motors needs to show shareholders in order to keep its stock high and shareholders happy, according to the company’s chief executive.
Oil-rich Saudi Arabia is investing more in EV startup Lucid to cash in on ‘cleaner’ cars
Oil made — and continues to make — Saudi Arabia one of the world’s richest countries. But as the threat of climate change becomes too large to ignore, “Big Oil” is looking to cash in on the renewed interest in cleaner alternatives, namely electric vehicles.
The Baltimore bridge collapse could devastate supply chains and cost billions
The Port of Baltimore is expected to be closed indefinitely as U.S. federal and state officials in Maryland deal with the aftermath of the collapse of the Francis Scott Key Bridge. The “mass casualty event” is not only a tragedy with rescue efforts still underway, but an infrastructure crisis that’s shutting down sea traffic at one of the world’s busiest ports. “Weeks of disruption” await automakers, Jalopnik reports; $80 billion worth of foreign trade moved through the port last year.
Tesla rival BYD is officially a bigger deal than Elon Musk would like to admit
BYD reported an increase in net profit for the final quarter of 2023 as it dethroned Elon Musk’s Tesla to become the top quarterly seller of electric vehicles in the world.
Nissan wants to launch 16 EVs in 3 years as it eyes a Honda partnership
Nissan Motor Co. is going all in on electrification, promising to rapidly increase its offerings and adopt new technology while slashing costs.
Elon Musk is pushing Full Self-Driving trials on every Tesla buyer in North America
Tesla CEO Elon Musk is requiring employees to install and show customers how to use his company’s Full Self-Driving (FSD) driver assistance system before finalizing a delivery in North America.
Subaru joins Chrysler and Dodge in recalling cars for airbags issues
Subaru is recalling more than 118,000 sedans and SUVs over faulty sensors that may prevent airbags from deploying during a crash. More than 4 million vehicles have been recalled this year.
Struggling EV startup Fisker somehow lost millions in customer payments
Fisker is in a state of disarray right now. The company continues to inch closer to bankruptcy, and the only car it sells right now, the Ocean EV, just had prices on its remaining inventory heavily slashed as the automaker attempts to move more metal in the face of falling stock prices. What’s been going on behind the scenes of the company, however, is much worse.
Ford to trim workforce at plant that builds its F-150 Lightning as sales of electric vehicles slow
Ford will drastically cut the number of hourly workers at its factory that builds the Ford F-150 Lightning as sales of electric vehicles slow, according to a media report.