Associated Press
Ford and GM have cut their earnings expectations by $2.5 billion and $2 billion, respectively. This is going to be longer and more difficult than most people think, one dealer told the WSJ.
The semiconductor chip shortage is roiling the global supply chain, but no sector is feeling it worse than the auto industry.
A new estimate from the consulting firm AlixPartners puts the global industry cost of the shortage at $110 billion this year, up from an earlier estimate of $60 billion in January. The pandemic-induced chip crisis has been exacerbated by events that are normally just bumps in the road for the auto industry, such as a fire in a key chip-making fabrication plant, severe weather in Texas, and a drought in Taiwan, Mark Wakefield, who heads up the firm s autos research, said in a press release.
After XPeng Inc. (NYSE: XPEV) reported first-quarter results Thursday, Brian Gu, the company s president and vice chairman, spoke to Benzinga in an exclusive chat on the financial results and the electric vehicle manufacturer s path forward.
Software revenue is a key element of. Read More. Don t Miss Any Updates! News Directly in Your Inbox Subscribe to:
Governors Wind Energy Coalition
As Cars Go Electric, China Builds a Big Lead in Factories Source: By Keith Bradsher, New York Times • Posted: Wednesday, May 5, 2021
Fueled with money from Wall Street and local officials, automakers plan to build eight million electric cars a year there, more than Europe and North America combined.
The body for an electric Zeekr, made by Geely, inside the welding hall of a factory near Ningbo, China.Lorenz Huber for The New York Times
ZHAOQING, China Xpeng Motors, a Chinese electric car start-up, recently opened a large assembly plant in southeastern China and is building a matching factory nearby. It has announced plans for a third.