The announcement, which will eliminate about 1,200 jobs, came less than a week after the carmaker Stellantis said it would move production of a new vehicle to Illinois from a Toronto suburb.
The automaker’s shares jumped as investors focused on an upgraded forecast for some financial measures, as well as a lower-than-expected bill for tariffs this year.
The revival of America’s industrial base is happening amid pine forests and peanut farms. And it’s being led by a South Korean company.
The carmaker, which has struggled with weak sales, is the latest company to announce a hefty investment in the United States.
General Motors said it would lower its earnings by that amount to mainly reflect the drop in the value of equipment, factories and other assets.
Elon Musk’s electric car company said the new versions would start at around $37,000 and $40,000, prices that bring its cars closer to comparable gasoline vehicles.
The vast Global Digital Trade Expo in Hangzhou stood as a rebuke to U.S. efforts to hem in China’s technology. But the real competition is internal, and profits are hard to find.
The end of a federal tax credit is expected to push sales of battery-powered cars down but auto experts believe the market will eventually recover.
Robyn Denholm, normally media shy, is campaigning to get shareholders to back the chief executive’s trillion-dollar compensation package.
The spotlight at the Munich auto show this year is swinging back to BMW, Mercedes and Volkswagen after previously focusing on Chinese automakers.
Foreign manufacturers were already dealing with tariffs and the end of E.V. tax credits. Now, they face greater scrutiny of their workers’ immigration status.
Foreign manufacturers were already dealing with tariffs and the end of E.V. tax credits. Now, they face greater scrutiny of their workers’ immigration status.
Foreign manufacturers were already dealing with tariffs and the end of E.V. tax credits. Now, they face greater scrutiny of their workers’ immigration status.
El gobierno surcoreano dijo el domingo que enviaría un avión chárter a Estados Unidos para llevar de regreso a cientos de trabajadores detenidos en una redada de inmigración.
The South Korean government said on Sunday that it would send a charter plane to the United States to retrieve hundreds of workers detained in an immigration raid.
Several hundred workers, most of them South Korean nationals, were detained at the construction site of a sprawling electric vehicle battery plant on Thursday.
The shocked but subdued reaction to the arrest of hundreds of Koreans at the site reflected the delicate position of a government engaged in tense trade talks with the Trump administration.
Tesla’s board unveiled a compensation package for the chief executive that could be worth $900 billion if he meets ambitious targets.
Electric models from the luxury car brand have been very successful, but they may struggle once a $7,500 federal tax credit ends next month.
Smothering electric vehicles might have been a regrettable mistake for a Republican to make 10 years ago. Today, it is economic idiocy.
