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The $10,000 BYD Seagull EV is scaring the U.S. auto industry

Teslarati

market, the company’s recent release of a city EV with a price tag under $10,000 has some worried for when it and other low-cost companies do. BYD launched its Seagull, a small hatchback EV with a price tag starting at 69,800 yuan (~$9,773), at the Shanghai Auto Show last year. auto sector,” the organization writes.

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Tesla stock (TSLA) rises following GM NACS deal

Teslarati

Tesla shares ( NASDAQ:TSLA ) surged over 5% on Friday amidst investors’ positive sentiments following the announcement that General Motors would be joining Ford in adopting the Texas-based EV maker’s North American Charging Standard (NACS) for its electric cars. This marks the longest winning streak of the company in about 2.5

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UAW strikes: GM shuts down Kansas plant and lays off 2,000 workers

Teslarati

General Motors (GM) has shut down a manufacturing plant in Kansas and laid off the site’s roughly 2,000 workers after the automaker stated plans to do so last week. The news comes as the latest amidst strikes from the United Auto Workers (UAW) union targeting Ford, GM and Stellantis. We have delivered a record offer.

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Auto industry spent less on advertising in 2022; Tesla already spends $0

Teslarati

Although Tesla spends $0, the decline in ad spending could be an indicator of troubles for an industry trying to compete with Tesla’s EV lead. Reuters reported that the auto industry’s ad spending fell to $4.8 billion between January and July 2022 or 4% year-on-year. Compared with the same period in 2019 ($5.50

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GM Reaches Agreement with China-based Pacific Century Motors on the Sale of Nexteer Automotive

Green Car Congress

General Motors and Pacific Century Motors (PCM), an entity formed by The Tempo Group and E-Town, an affiliate of the Beijing Municipal Government, have reached an agreement for GM to sell GM Global Steering Holdings, LLC, commonly known as Nexteer, to PCM. Terms of the sale were not disclosed.

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GM Shows Picture of New Chevrolet Agile for Mercosur Market

Green Car Congress

General Motors provided an image of the new Chevrolet Agile, a small car designed in Brazil and due to launch in that market in October. The Agile is the first model of the Viva family; Project Viva represents a US$400 million investment by GM un Brazil and Argentina. GM began doing business in Brazil in 1925. The 2010 Agile.

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Hertz to Buy Cadillac Lyriqs and Chevy Silverado EVs to Bolster Electric Rental Fleet

The Truth About Cars

Automakers are going electric, which means that all the companies that rely on them will have to adapt. Car rental companies have long pledged to make the transition alongside their auto industry partners, and Hertz recently announced that it would be adding the Cadillac Lyriq and Chevy Silverado EV.&