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CEO of Electric-Fuel Cell Truck Startup Nikola Corp Resigns Amid Allegations of Fraud

CEO of Electric-Fuel Cell Truck Startup Nikola Corp Resigns Amid Allegations of Fraud

Trevor Milton, the CEO and founder of promising hydrogen fuel cell and electric truck startup Nikola Corp has resigned from the company he founded. Milton stepped down following claims of nepotism and fraud by a Wall Street short-seller that sparked an U.S. Security and Exchange Commission (SEC) investigation.

FutureCar Staff 2020-09-21 12:05 PT

Tesla Shares Fall 21% After S&P 500 Exclusion & GM Acquires a Stake in Rival Nikola Motor

Tesla Shares Fall 21% After S&P 500 Exclusion & GM Acquires a Stake in Rival Nikola Motor

Tesla's rising stock price has been hit by the unpredictable realities of the financial markets. On Tuesday, U.S. automaker General Motors announced its taking a $2 billion stake in electric truck startup and Tesla rival Nikola Motor Company. The announcement follows last Friday's news that Tesla missed out on being included in the elite S&P 500 stock index, sending its shares down 21.6% today, the biggest one day drop in Tesla's history.

FutureCar Staff 2020-09-08 17:00 PT

Electric Truck Startup Lordstown Motors to go Public in Blank-Check Reverse Merger Deal

Electric Truck Startup Lordstown Motors to go Public in Blank-Check Reverse Merger Deal

Electric truck startup Lordstown Motors has agreed to go public in a deal with blank-check company Diamond Peak Holdings. The deal is expected to close in the fourth quarter this year. The deal values the electric truck start-up at $1.6 billion, the companies announced on Monday.

Eric Walz2020-08-03 11:30 PT

General Motors & EVgo to Triple the Size of the Largest Public EV Charging Network in the U.S.

General Motors & EVgo to Triple the Size of the Largest Public EV Charging Network in the U.S.

U.S. automaker General Motors has teamed up with the EV charging infrastructure operator EVgo to triple the size of its U.S. charging network, building more than 2,700 new fast charging stations in cities throughout the U.S. The Los Angeles-based company currently owns and operates the nation's largest public fast charging network for electric vehicles in the U.S.

Eric Walz2020-07-31 09:30 PT

GM Reports a Loss of $806M in Q2, But Strong Demand for its Trucks Helped Offset the Impact of the Pandemic

GM Reports a Loss of $806M in Q2, But Strong Demand for its Trucks Helped Offset the Impact of the Pandemic

U.S. automaker General Motors announced its second quarter earnings on Wednesday and it appears that the automaker has weathered the impact of the global coronavirus pandemic better than analysts had predicted.

Eric Walz2020-07-29 15:45 PT

GM’s Annual Sustainability Report Confirms its Commitment to Electric Vehicles With 12 New Models Coming by 2023

GM’s Annual Sustainability Report Confirms its Commitment to Electric Vehicles With 12 New Models Coming by 2023

U.S. automaker General Motors (GM) released its tenth annual sustainability report on Thursday. The latest sustainability report confirms the automaker's commitment to electrification. The report outlines GM’s plans to introduce 12 new fully-electric models by 2023 and that the recent pandemic has not caused any delays in the launch of the new models.

Eric Walz2020-07-17 14:30 PT

Electric Truck Startup Lordstown Motors Unveils its Battery-Powered Endurance Pickup

Electric Truck Startup Lordstown Motors Unveils its Battery-Powered Endurance Pickup

At a livestream event today in Ohio, electric vehicle startup Lordstown Motors officially revealed its first vehicle, the fully-electric Endurance pickup truck. The Endurance is targeting a commercial market segment currently dominated by the popular Ford F-Series pickups and trucks from General Motors and its truck division GMC.

Eric Walz2020-06-25 12:00 PT

General Motors is Developing an Electric Van for Business Customers to Stave Off Tesla

General Motors is Developing an Electric Van for Business Customers to Stave Off Tesla

U.S. automaker General Motors is developing a fully-electric van aimed at business users, including shipping companies. The van will be built at the automaker’s Detroit-Hamtramck plant in Michigan. GM does “don’t want to leave the door open for Tesla” as they did in consumer passenger cars, sources say.

Eric Walz2020-06-04 09:45 PT

Chinese Battery Maker BYD to Supply EV Batteries to Ford Motor Company

Chinese Battery Maker BYD to Supply EV Batteries to Ford Motor Company

Chinese battery maker BYD Co Ltd (BYD), will supply EV batteries to U.S. automaker Ford Motor Co, a document on the website of the Ministry of Industry and Information Technology showed on Monday. Ford’s China joint venture with Changan Automobile is currently seeking government approval to build a plug-in hybrid model equipped with BYD’s batteries, according to the document.

Eric Walz2020-06-01 14:05 PT

General Motors Begins Site Prep on its $2.3 Billion Joint Venture EV Battery Plant in Ohio

General Motors Begins Site Prep on its $2.3 Billion Joint Venture EV Battery Plant in Ohio

General Motors has started site preparations for its new joint venture electric vehicle battery factory in Lordstown, Ohio. The plant will produce the advanced Ultium battery cells for GM’s future electric vehicles together with South Korean battery maker LG Chem.

FutureCar Staff 2020-05-20 14:00 PT

Detroit’s Big 3 Looking to Reopen Factories by May 18: Report

Detroit’s Big 3 Looking to Reopen Factories by May 18: Report

American automakers are holding talks with Michigan’s governor and leaders from the UAW to discuss a potential restart date for American facilities.

Vineeth Joel Patel2020-05-02 05:30 PT

Ford Motor Co. Develops a New Powered Air-Purifying Respirator with 3M in COVID-19 Fight

Ford Motor Co. Develops a New Powered Air-Purifying Respirator with 3M in COVID-19 Fight

U.S. automaker Ford Motor Company today announced it has developed a new powered air-purifying respirator (PAPR) with design consultation from safety equipment maker 3M to assist healthcare workers in their fight against the coronavirus pandemic.

Eric Walz2020-04-13 13:25 PT

Tesla Engineers Share Details of a Prototype Ventilator Made With Electric Car Parts

Tesla Engineers Share Details of a Prototype Ventilator Made With Electric Car Parts

Amid the coronavirus pandemic, U.S. automakers including General Motors, Ford and Tesla are pitching in by offering to help build ventilators using their vast supplier networks or various car parts. Engineers at Tesla have already built a working prototype, which includes parts from the Model 3, including the electric car’s center-mounted touchscreen display.

Eric Walz2020-04-06 12:30 PT

General Motors Announces a $20 Billion Investment Electrification and Reveals its New Global EV Platform as the Automaker Looks to Take on Tesla

General Motors Announces a $20 Billion Investment Electrification and Reveals its New Global EV Platform as the Automaker Looks to Take on Tesla

U.S. automaker General Motors announced today it’s making a $20 billion investment by 2025 in electrification, including new EV architecture, new models and battery cell development. The announcement was part of the automaker’s “EV Day”, an event where GM shared its strategy to grow its electric vehicle sales and transition towards an electric future.

Eric Walz2020-03-04 12:00 PT

China’s Auto Sales Plummet 92% This Month as Coronavirus Fears Put the Brakes on New Car Sales

China’s Auto Sales Plummet 92% This Month as Coronavirus Fears Put the Brakes on New Car Sales

The Coronavirus has stalled auto production in China and caused new vehicle sales to plummet this month. The China Passenger Car Association (CPCA) said that retail sales of passenger cars in China plummeted 92% on an annual basis in the first 16 days of February.

Eric Walz2020-02-21 11:05 PT

General Motors Confirms the Return of the Hummer as a 1,000 Horsepower Electric Truck

General Motors Confirms the Return of the Hummer as a 1,000 Horsepower Electric Truck

GM is bringing back the Hummer as a fully-electric, 1,000 horsepower, zero-emissions truck under the GMC badge. This time around, the new Hummer won’t be judged by its gas mileage.

Eric Walz2020-01-30 10:00 PT

GM to Invest $2.2 billion in its Detroit-Hamtramck Factory to Build Only Electric Vehicles

GM to Invest $2.2 billion in its Detroit-Hamtramck Factory to Build Only Electric Vehicles

General Motors announced its investing $2.2 billion in its Detroit-Hamtramck assembly plant to convert the plant to build electric vehicles, including SUVs and pickup trucks. The revamped factory will be GM’s first assembly plant 100% devoted to EV production.

Eric Walz2020-01-27 10:50 PT

Cruise Debuts the 'Origin', an Autonomous Urban Robotaxi Built for Ride-Hailing

Cruise Debuts the 'Origin', an Autonomous Urban Robotaxi Built for Ride-Hailing

Cruise debuted its fully-autonomous Origin shuttle at a media event last night in San Francisco. The futuristic self-driving shuttle was heavily engineered by Honda, with GM supplying the electric powertrain and Cruise tasked with developing the hardware and autonomous driving systems.

Eric Walz2020-01-22 10:05 PT

Tesla’s Latest Stock Surge Raises its Market Value Higher Than Rivals GM & Ford Combined

Tesla’s Latest Stock Surge Raises its Market Value Higher Than Rivals GM & Ford Combined

Its been an amazing run for the electric automaker to close out the final quarter of 2019. Tesla’s stock more than doubled in the last three months alone. On Monday, shares of Tesla surged 9% to a record high, closing at $547.41, boosting Tesla's market cap to nearly $97 billion.

FutureCar Staff 2020-01-14 16:15 PT

GM to Revive the Hummer Nameplate as an Electric Pickup & SUV Brand, Sources Say

GM to Revive the Hummer Nameplate as an Electric Pickup & SUV Brand, Sources Say

General Motors is planning on resurrecting the Hummer nameplate as a new electric truck brand, sources said to the Wall Street Journal on Friday. The first commercials for the Hummer electric trucks are expected to run during this year's Superbowl on February 2, which serves as one of the most important (and most expensive) advertising opportunities for companies each year.

FutureCar Staff 2020-01-10 16:00 PT

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