Latest Automobile manufacturing News

As Musk admits to job stress, Tesla's board may have to act

Aug. 17, 2018 6:08 PM EDT

Elon Musk's erratic behavior was front and center again this week as the CEO of Tesla conceded that he's overwhelmed by job stress, pushing his electric car company's stock down and bringing pressure on its board to take action. Musk's revelation, in a Thursday interview with The New York Times, came as...

The Latest: Tesla shares drop 9 percent after Musk interview

Aug. 17, 2018 4:14 PM EDT

NEW YORK (AP) — The Latest on Tesla CEO Elon Musk (all times local): 4:00 p.m. Tesla shares are closing with a loss of $29.95, about 9 percent, at $305.50 after CEO Elon Musk told the New York Times that the stress of the job is getting to him. The company lost $5.5 billion in market value Friday. Musk...

Tesla files lawsuit against Ontario government

Aug. 16, 2018 5:49 PM EDT

TORONTO (AP) — Electric car maker Tesla Motors said Thursday it is suing Ontario's new government, claiming it was treated unfairly in the cancellation of a program providing rebates to residents who bought electric vehicles. Tesla Motors Canada said in court documents that the decision by Premier Doug...

Report: SEC subpoenas Tesla about CEO's buyout plans

Aug. 15, 2018 6:53 PM EDT

SAN FRANCISCO (AP) — Government regulators have subpoenaed Tesla as they dig deeper into CEO Elon Musk's recent disclosure about a potential buyout of the electric car maker, according to media reports. The subpoena from the Securities and Exchange Commission demands information from each of Tesla's nine...

Ford to spend roughly $740M on Detroit redevelopment plans

Aug. 15, 2018 8:28 AM EDT

DETROIT (AP) — Ford Motor Co. plans to spend roughly $740 million renovating Detroit's long vacant train depot and redeveloping other area properties for research and development of self-driving vehicles . The Dearborn-based company in June used the Michigan Central depot as a backdrop while publicly...

South Korea bans driving BMWs under recall due to fires

Aug. 14, 2018 5:10 AM EDT

SEOUL, South Korea (AP) — South Korea will ban driving recalled BMWs that haven't received safety checks following dozens of fires the German automaker has blamed on a faulty exhaust gas component. South Korea's Ministry of Land, Infrastructure and Transport said Tuesday the ban taking effect Wednesday...

Questions loom over Tesla deal after CEO reveals Saudi link

Aug. 13, 2018 6:20 PM EDT

SAN FRANCISCO (AP) — Tesla CEO Elon Musk's elaboration on his plan to engineer a buyout of the electric car maker could get the Silicon Valley maverick into legal trouble by revealing that the deal is far more uncertain than how he initially described it in his brash tweet last week. If everything falls...

China auto sales down 5.3 percent as SUV demand sags

Aug. 10, 2018 5:50 AM EDT

BEIJING (AP) — China's auto sales shrank in July from a year earlier as SUV demand sagged, an industry group reported Friday, adding to signs of economic malaise amid a tariff battle with Washington. Sales of sedans, SUVs and minivans fell 5.3 percent from a year ago to 1.6 million in the biggest global...

Suzuki, Mazda, Yamaha admit using fake vehicle emission data

Aug. 9, 2018 3:23 AM EDT

TOKYO (AP) — Japanese automakers Suzuki Motor Corp., Mazda Motor Corp. and Yamaha Motor Co. have admitted using falsified emissions data to inspect their new vehicles after the government ordered the industry to review its procedures. Japan's transport ministry said Thursday the three automakers admitted...

NYC moves to rein in Uber with cap on ride-hail vehicles

Aug. 8, 2018 11:19 PM EDT

NEW YORK (AP) — New York City moved Wednesday to regulate the explosive growth of Uber and other app-based ride services with a temporary cap on new licenses for ride-hailing services. The City Council approved a package of bills that included a one-year moratorium on new licenses for for-hire vehicles...