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Carlos Ghosn's Superyacht To Be Seized As Part of Legal Ruling

The Truth About Cars

Several years after the disgraced auto exec fled to Lebanon, the British Virgin Islands High Court ruled that he must surrender a superyacht allegedly purchased using funds he siphoned away from the automaker. The former Nissan and Renault executive’s legal troubles continue elsewhere as well.

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A123 Systems receives interim court approval of $50M DIP financing from Wanxiang; responds to objections from Wanxiang, Fisker and others on asset sales process

Green Car Congress

On 27 October, Johnson Controls announced it had chosen not to be the debtor-in-possession (DIP) lender during A123’s bankruptcy process—as had been the original plan—to avoid potential delays posed by threatened legal actions from Wanxiang, which had earlier entered into a major financing deal with A123.

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Toyota-backed U.S. self-driving startup garners $67 million investment

Teslarati

May Mobility says it has technology that’s the equivalent of Level 4 automated driving, which means that the vehicles won’t be required to have a driver at certain points and in regions where it’s designated as legal, according to Society Automotive Engineers (SAE) autonomy designations.

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Volkswagen and Audi Dealers Are Suing Scout Motors in Florida

The Truth About Cars

Volkswagen Group purchased the Scout name from Navistar International in 2021 and the brand has since gone on to develop the all-electric Terra truck and Traveler SUV. He even went so far as to say it would face legal challenges if Volkswagen didnt change course. The public may not, however.

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Washington State Introduces Bills to Legalize Direct-to-Consumer EV Sales

The Truth About Cars

The state had numerous tax rebates available for individuals purchasing EVs and had at one point even made EVs and PHEVs tax-exempt. This is because Washington has been on an EV kick for quite some time and Tesla was simply the first brand on the scene.

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General Motors to Move from Long-Running Detroit HQ Into a New Location Across Town

The Truth About Cars

General Motors recently announced a move from the Renaissance Center (RenCen), the building it purchased in 1996, to a new location at the Hudson’s Detroit building further north. He did say that GM’s executives and corporate offices, including finance, legal, and other departments would make the move.

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Former Lordstown CEO Given Permission to Buy Back Company Assets for $10 Million

The Truth About Cars

& With so many EV startups turning out to be little more than legal Ponzi schemes, many felt Lordstown had a real chance of producing something tangible. It had a physical factory it purchased at a massive discount from General Motors and a business plan that ended with all-electric pickups being produced in meaningful volumes. .&

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