Business

CEOs Say Shareholder Value Isn’t Everything

August 19, 2019 at 5:11 PM

Publicly trade companies have a duty to do much more than deliver hefty dividends to shareholders, says the Business Roundtable.

Track-Testing Schaeffler’s e-Mobility Tech

For years Schaeffler Group USA has been helping carmakers make their powertrains more efficient through electrification, supplying everything from components to turnkey systems.

People

Former Google Marketing Exec Joins Uber

August 15, 2019 at 4:12 PM

Uber Technologies Inc., which cut its marketing staff by one-third last month, has hired Thomas Ranese to head the ride-hailing company's downsized market and branding team.

Business

UPS Buys Stake in Autonomous Trucking Company

August 15, 2019 at 3:27 PM

United Parcel Service Inc. has acquired an unspecified minority stake in TuSimple Inc., a San Diego-based startup that supplies autonomous driving technology for commercial truck applications. 

Business

Scoop Ride-Sharing Raises $60 Million

August 15, 2019 at 2:55 PM

California-based startup Scoop Technologies Inc. has raised $60 million in its latest funding round to more than double the ride-sharing firm’s investment total to $106 million.

Economics

U.S. Manufacturing Slowed in July

August 15, 2019 at 1:18 PM

Output by U.S. manufacturers shrank 0.4% in July, deepening the decline since December to 1.5%, according to the Federal Reserve.

New Product

Options Add Up on 2020 Corvette

August 15, 2019 at 12:58 PM

General Motors Co. will offer three trim levels for the all-new mid-engine Corvette Stingray and a host of options that can add more than $20,000 to the sticker prices.

Business

China EV Startup Nio Plans New Staff Cuts

August 15, 2019 at 11:45 AM

Chinese electric car startup Nio Ltd. confirms the company will launch a new round of staff cuts but is unclear about the magnitude.

EV-Hybrid

Rivian-Based Ford EV an SUV?

August 15, 2019 at 11:20 AM

Ford Motor Co. has finalized most of the engineering details for the all-electric vehicle it is developing with Rivian Automotive LLC, Ford CEO Jim Hackett tells Motor Trend.

Tech

CEO at Carbon Fiber Supplier SGL Resigns

August 15, 2019 at 10:57 AM

Juergen Koehler, the CEO of carbon fiber supplier SGL Group, will leave the company at the end of August after the supplier scrapped its business plan and slashed its outlook.

New Product

Dodge Revs Up 50th Anniversary Charger Daytona

August 15, 2019 at 10:02 AM

Fiat Chrysler Automobiles NV’s Dodge unit is reviving the Charger Daytona nameplate with a limited-edition model to celebrate the 50th anniversary of the race car’s debut.

Regulatory

Audi E-tron First EV to Earn Top IIHS Safety Rating

August 15, 2019 at 1:51 AM

Audi AG’s e-tron crossover vehicle has become the first electric car to win the Insurance Institute for Highway Safety’s highest safety rating.

Legal

Federal Corruption Probe of FCA Spreads to GM

August 15, 2019 at 1:37 AM

Federal prosecutors have charged another former United Auto Workers union executive—this one with links to General Motors Co.—in a continuing investigation into bribery and illegal kickbacks in Detroit.

People

VW Hires Chehab as U.S. Marketing Chief

August 14, 2019 at 4:17 PM

Volkswagen AG’s namesake brand has chosen industry veteran Saad Chehab to become the company’s chief marketing officer in the U.S., effective Aug. 19.