Trade News

Tesla Inc.'s top boss Elon Musk said in a series of tweets on Wednesday that the company expects to release a significantly improved version of its full self-driving technology within the next two to three weeks.

Subscriptions to the software for the system would be offered within a month, Musk said in a Twitter exchange without elaborating further.

The news comes just a week after the company told California's Department of Motor Vehicles that it may not achieve full self-driving technology by the end of this year.

Tesla has released what it describes as a beta version of its full self-driving program to a limited number of employees and customers since October. Musk has touted the capability on Twitter.

Musk's tweets also said Tesla's "Smart Summon" feature would be available by the end of this year in Europe, along with its full self-driving technology.

The Smart Summon feature, which is already available in the United States, allows dri…

Hertz Global Holdings Inc. picked Knighthead Capital Management and Certares Management to buy the company out of bankruptcy, capping a dramatic brawl for control of the car renter as travel rebounds, according to people with knowledge of the matter.

The company selected a bid from the firms over a competing group led by Centerbridge Partners, Warburg Pincus and Dundon Capital Partners, the people said, asking not to be identified discussing private plans. The winning plan would hand shareholders value of around $8 a share, made up of about $240 million in cash and warrants for nearly 20 percent of the reorganized equity, they added.

Hertz shares soared 31 percent to $4.83 in Wednesday morning trading. The recovery is a rare win for shareholders, who are typically wiped out in bankruptcy proceedings.

Representatives for Knighthead, Certares and Warburg Pincus declined to comment, while Hertz, Dundon and Centerbridge didn’t immediately provide commen…

Lisa Materazzo, group vice president of Toyota Division Marketing at Toyota Motor North America, talks about the automaker's marketing strategies as it prepares to launch a bevy of updated vehicles in the U.S. over the next 16 months.

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DETROIT — Ultium Cells, General Motors and LG Energy Solution's joint venture, has partnered with Li-Cycle to recycle up to 100 percent of material scrap from battery cell manufacturing, the company said Tuesday.

The agreement with Li-Cycle will enable Ultium Cells to recycle cobalt, nickel, lithium, graphite, copper, manganese and aluminum, and 95 percent of the materials can be used to produce batteries for adjacent industries, Ultium Cells said in a statement. The companies will begin the recycling process this year.

"GM's zero-waste initiative aims to divert more than 90 percent of its manufacturing waste from landfills and incineration globally by 2025," Ken Morris, GM vice president of electric and autonomous vehicles, said in a statement. "Now, we're going to work closely with Ultium Cells and Li-Cycle to help the industry get even better use out of the materials."

Ultium batteries, the next-generation batteries that will power GM's electric vehic…

Bentley's newest grand tourer — the Continental GT Speed — packs a lot of power, luxury and style, and for 2022, is equipped with new gear to make it far more agile. It is distinguished from the rest of the Continental lineup by a dark-finish grille, lower air intake, more sculpted side sills and exclusive 22-inch wheels. It's available as a coupe and convertible.

Bentley's 6.0-liter twin-turbo W12 engine, packing 650 hp and 664 pound-feet of torque, is what really sets the car apart. It is bolted to an eight-speed dual-clutch transmission and standard all-wheel drive. While it weighs just more than 5,000 pounds, the enormous power propels the GT Speed from 0 to 60 mph in a scant 3.5 seconds, with a top speed of 208 mph.

We've rounded up some early reviews of the third-generation Continental GT Speed.

"It all looks and feels graceful and elegant, but like a swan gliding across a pond, the result is the product of furious activit…

Scott Adams, president of the power management supplier's eMobility division, explains how the company is using a range of technologies to advance the performance and safety of electrified vehicles.

How do I subscribe?Can't wait to hear the next episode of "Daily Drive"? Subscribe through a podcast app to receive episodes days in advance. If you don't have a podcast app already, here are some options. 

iPhone / iPad“Daily Drive” is available on the iTunes Store and through the ‘Podcast’ app pre-installed on all iOS devices. Click here to subscribe to "Daily Drive"

Android“Daily Drive” is available on the Google Play store. Click here to subscribe to "Daily Drive"

Spotify"Daily Drive" is available on Spotify. Click here to subscribe to "Daily Drive"

American Axle & Manufacturing will be the sole supplier of front and rear pickup axles for trucks built at General Motors’ Oshawa, Ont., plant when production begins there later this year.

The new business for American Axle is in addition to its current supply of axles to GM’s full-size pickup assembly facilities in Indiana, Michigan and Mexico.

GM plans to begin full-size truck production in Oshawa sometime in the fourth quarter of this year. The automaker hasn’t said which models — the GMC Sierra or Chevrolet Silverado — Oshawa will build, only that “the plant will be flexible.” 

American Axle said in a statement that the new work “continues to leverage AAM’s strategic partnership with GM.” The supplier originally spun off from GM in 1994.

“This is a critical part of our business and integral to our two-pronged approach to support both internal combustion and battery electric/hybrid vehicles with the industry’s leading driveline t…

The Macan is Porsche's bestselling model, accounting for a third of the brand's U.S. volume last year.

Porsche has focused on high-performance sports cars powered by gasoline engines but is accelerating a push into electric vehicles amid a race with luxury rivals to meet more stringent emissions laws in key markets such as China and Europe.

"The all-electric Macan will be the sportiest model in its segment," Porsche R&D boss Michael Steiner said at a media roundtable.

The electric Macan follows the Taycan, a battery-electric sedan that has seen strong demand since launching in late 2019.

The crossover will be based on Volkswagen Group's Premium Platform Electric, or PPE, architecture developed in collaboration with Audi. Like the Taycan, the electric Macan will use 800-volt technology.

It will offer greater driving range than the Taycan and will be available in multiple battery sizes globally, though tho…

President Joe Biden plans to tour Ford Motor Co.'s electric pickup truck plant near Detroit on May 18, the day before the automaker is set to unveil its new F-150 Lightning EV, according to a source briefed on the president's plans.

Biden is expected to get a peek inside Ford's new Rouge Electric Vehicle Center, which is adjacent to Ford's Dearborn Truck Plant at its sprawling and historic Rouge complex.

Ford has said it is investing $700 million in the new manufacturing facility for the assembly of an electric version of its best-selling F-150 trucks.

Biden's visit to Dearborn, which was first reported Monday by The Detroit News, comes against the backdrop of his administration's push for a $2 trillion jobs and infrastructure investment bill in Congress that includes new funding for bringing more EVs to market.

Ford has said it will add 300 jobs once the Rouge Electric Vehicle Center starts producing all-electric F-150s by the spring of 2022. Con…