Shares: MULN stock drops almost 10 cents after the release of stronger-than-expected US labor data. The data increases expectations of the Federal Reserve will have to significantly tighten monetary policy, hurting risk assets including stocks. Mullen had been on the rise after the company hired a law firm to take naked short sellers …
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Canadian lithium miner Avalon Advanced Materials Inc. has purchased land in Thunder Bay, Ont. to build a processing plant that will connect lithium mined in northwestern Ontario with battery cell manufacturers and electric-vehicle makers in southern Ontario and the United States. The Toronto-based miner, which is developing lithium mining projects outside both Kenora and Fort …
Avalon Advanced Materials Inc. plans Ontario lithium plant Read More »
Canadian dealers say the new-vehicle inventory is improving slowly, but remains well below pre-pandemic levels, according to a new survey. DesRosiers Automotive Consultants (DAC) and the Canadian Automobile Dealers Association (CADA) partnered to query dealers coast to coast and found inventory to be 42.3 per cent “of normal” in the first quarter of 2023 compared …
Canadian new-vehicle inventory improves, but it’s a ‘murky’ situation Read More »
Canadian auto supplier Linamar Corp. plans to break ground “immediately” on a new plant in Welland, Ont., that will house three giga-casting presses capable of producing very large aluminum structural parts for electric vehicles. The Guelph, Ont.-based parts supplier announced the new site in the city south of Niagara Falls as it reported its first-quarter …
Canada’s Linamar will ‘immediately’ break ground on new plant Read More »
Online used-vehicle retailer Shift Technologies Inc. said Thursday its board of directors is working with management and financial and legal advisers to assess a range of “strategic alternatives” for the company. in a statementShift said its board of directors was conducting a process to “explore and evaluate strategic alternatives, including exploring a potential sale of …
Shift Q1 earnings: Company reviewing ‘strategic alternatives’ Read More »
Ferrari, which unveiled the Roma Spider in March, has promised a total of four new models this year. Ferrari has been hiking the prices of some of its models with its wealthy clientele less acutely affected by soaring inflation and rising interest rates. CFO Antonio Picca Piccon told analysts that Ferrari is now applying mid-single …
Ferrari Q1 results: Earning rise 27% as wealthy pay more Read More »
ANAHEIM, Calif. —The automotive and truck industries will soon learn much more about Tesla Inc.’s Semi — the Class 8 truck the electric vehicle company claims will upend the trucking industry with revolutionary performance. PepsiCo confirmed Wednesday it would enter at least one of the Tesla Semis it operates in the Run on Less trucking …
Tesla Semi will make its debut at the Run on Less truck event Read More »
It’s no secret that the Automotive Parts Manufacturers’ Association (APMA) took the name of its new electric prototype vehicle from Canada’s ill-fated Avro Arrow jet interceptor of the 1950s. But that’s not the only thing Project Arrow borrowed from the aviation industry. The concept vehicle’s sound system, which pumps out resounding audio without using a …
Project Arrow’s speakerless audio is a sonic boon Read More »
WASHINGTON — Ford Motor Co. has withdrawn its petition to deploy a limited number of self-driving vehicles without traditional driving controls or features on US roads, an unpublished federal document shows. In the notice, which is scheduled to be published Friday, NHTSA said Ford has withdrawn its July 2021 request for a temporary exemption from …
Ford withdraws petition to deploy self-driving vehicles Read More »
The automaker said it ended the first quarter with 412,285 cars and light trucks in dealer stock or in transit, unchanged from the end of the fourth quarter. Ford rebounded from a fourth-quarter 2022 decline with sales rising 10 percent in the most recent three-month period, with Ford division volume rising 11 percent but Lincoln …
March auto sales: GM’s strong sales; Ford gains; Toyota slips Read More »
