Latest Automobile manufacturing News

'The Sacrifice Zone': Myanmar bears cost of green energy

Aug. 09, 2022 12:49 PM EDT

The birds no longer sing, and the herbs no longer grow. The fish no longer swim in rivers that have turned a murky brown. The animals do not roam, and the cows are sometimes found dead. The people in this northern Myanmar forest have lost a way of life that goes back generations. But...

Most electric vehicles won't qualify for federal tax credit

Aug. 09, 2022 11:02 AM EDT

DETROIT (AP) — A tax credit of up to $7,500 could be used to defray the cost of an electric vehicle under the Inflation Reduction Act now moving toward final approval in Congress. But the auto industry is warning that the vast majority of EV purchases won’t qualify for a tax...

Kia recalls sedans because plates in ceiling can come loose

Aug. 09, 2022 09:13 AM EDT

DETROIT (AP) — Kia is recalling nearly 260,000 older midsize cars in the U.S. because plates in the ceiling can come loose if the side curtain air bags inflate in a crash. The recall covers certain 2012 and 2013 Optima sedans. The automaker says headliner pates on both sides of the...

Billions pour into bioplastics as markets begin ramping up

Aug. 09, 2022 08:04 AM EDT

CLEVELAND (AP) — In a world increasingly troubled by the persistent harm that plastic — manufactured in petrochemical plants — has had on the environment, companies are investing billions of dollars to ramp up production of plastics made from natural, renewable materials that can be safely...

Electric vehicle battery-related plant announced in Kentucky

Aug. 08, 2022 04:11 AM EDT

FRANKFORT, Ky. (AP) — Lotte Aluminium Materials USA plans an aluminum foil manufacturing operation to serve the electric vehicle battery industry in Kentucky and is expected to create 122 full-time jobs. The company is investing $238.7 million in the plant in Hardin County, Gov....

Tesla investors approve stock split; Musk to add factories

Aug. 04, 2022 20:29 PM EDT

DETROIT (AP) — Tesla shareholders on Thursday approved a three-for-one stock split, a move that will make the company's shares more accessible to smaller investors. Preliminary results of the shareholder vote were announced at the electric car and solar panel maker's annual meeting...

Toyota profit down as chips shortage keeps customers waiting

Aug. 04, 2022 02:18 AM EDT

TOKYO (AP) — Toyota’s profit fell nearly 18% in the April-June quarter from the year before, as a semiconductor shortage that has slammed the auto industry dented production at Japan’s top automaker. Toyota Motor Corp. reported Thursday a quarterly profit of 736.8 billion yen...

Edmunds: 5 vehicles that are easy on the wallet

Aug. 03, 2022 06:30 AM EDT

New cars are pricier than ever in today’s economy. Inflation, low inventory and now rising interest rates have all taken a toll on prices. Last week, the Fed raised interest rates for the fourth time this year, compounding the issues that plague car shoppers. Yet in spite of the higher prices,...

Ferrari earnings up 22% on surging deliveries to Americas

Aug. 02, 2022 13:15 PM EDT

MILAN (AP) — Luxury Italian automaker Ferrari raised its 2022 forecast Tuesday after reporting a 22% increase in second-quarter earnings as sales in the Americas surged. The maker of high-performance luxury sports cars reported net profits of 251 million euros ($257 million) in...

Japan truckmaker Hino says emissions data faked for 20 years

Aug. 02, 2022 05:45 AM EDT

TOKYO (AP) — Hino Motors, a truck maker that’s part of the Toyota group, systematically falsified emissions data dating back as far back as 2003, according to the results of an investigation released Tuesday. President Satoshi Ogiso bowed deeply at a hastily called news...