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Reuters

Dec 22, 2022, 7:10 PM

Automakers, South Korea Urge U.S. To Tap Commercial EV Tax Credit

The $430 billion U.S. Inflation Reduction Act (IRA) passed in August ended $7,500 consumer tax credits for electric vehicles assembled outside North America, sparking anger from South Korea, the European Union, Japan and others.

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  car&bike Team | Dec 22, 2022

  Tesla Offers Additional Discount To Chinese Buyers On Some Models

  This comes in addition to a previously announced 4,000 yuan insurance subsidy, but is only applicable for customers buying a current car model and completing delivery by the end of December.

  1 min read
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  Reuters | Dec 22, 2022

  Toyota Offers Cheaper Prius If Customers Take Software Updates

  The lease program will require customers to opt in for a service expected to bring monthly lease payments down by 10%, Toyota's leasing affiliate said.

  1 min read
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  Reuters | Dec 22, 2022

  Vietnam's EV Maker Vinfast Files For U.S. IPO To Fuel Global Expansion

  VinFast, which began operations in 2019, is gearing up to expand in the U.S. market, where it hopes to compete with legacy automakers and startups with its two all-electric SUVs, the VF8 and VF9, including battery leasing to reduce the purchase price.

  3 mins read
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  Reuters | Dec 22, 2022

  UAW Calls On Automakers To Move Supply Chain Out Of Xinjiang Region

  The United Auto Workers (UAW) union called on automakers to shift their entire supply chain out of China's Xinjiang region after a new report on Tuesday suggests that nearly every major automaker has significant exposure to products made with forced labor.

  2 mins read
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  Reuters | Dec 22, 2022

  Apple Scales Back Self-Driving Car, Delays Launch To 2026: Report

  The company's automotive efforts, known as Project Titan, have proceeded unevenly since 2014, when it first started to design a vehicle from scratch.

  1 min read
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  Reuters | Dec 22, 2022

  Mercedes To Double Electric Motor Output At Untertuerkheim: Report

  The German carmaker's management and works council struck an agreement on restructuring the site in southwestern Germany, which also foresees a 20% reduction in fixed costs by 2025 compared with 2019 and workforce cuts, the report said, citing company sources.

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  Reuters | Dec 22, 2022

  South Korean Truckers' Strike Cost $1.2 Billion In Lost Shipments

  Disruptions to the country's supply chain expanded on Thursday, the eighth day of the nationwide strike by more than 20,000 truckers, as the government prepares to order more of them back to work.

  2 mins read
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  Jaiveer Mehra | Dec 22, 2022

  New Bugatti Chiron Profilee Is a Chiron Pur Sport-Based One-Off

  The Profilee will be one of the last Bugatti to use the iconic W16 engine and is a more subdued iteration of the Chiron Pur Sport that debuted in 2020.

  2 mins read