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EV tax credit restrictions could reshape automakers' supply chains, battery strategies

EV manufacturers now must decide whether they'll chase all, some or none of the revamped tax credit. Depending on their strategies, it could mean reshaping their supply chains sooner than anticipated.

Mercedes gives up on in-between Metris van

Production of the four-cylinder gasoline engine that powers Mercedes-Benz's commercial vans will end next year.

Bob Brockman grew DMS giant Reynolds; faced tax evasion charge

Brockman, who started Universal Computer Systems in 1970 before it later merged with Reynolds and Reynolds, was facing trial in February on federal charges of tax evasion and other crimes.

Toyota Prius faces uphill climb to reclaim relevance

The Prius put Toyota on the map as green car hero No. 1 when the hybrid arrived in 1997. But with the fifth-generation redesign just around the corner, the Prius' hybrid drivetrain faces a test for relevance.

Tesla's breakthrough 4680 battery suffers slow ramp

Two years ago, Tesla CEO Elon Musk promised a larger 4680 cylindrical battery that would improve range, drive down costs and fuel the launch of the power-hungry Cybertruck pickup. Tesla has fallen behind on those promises.

Bill with revamped EV tax credit passes Senate, heads to House

The Inflation Reduction Act ends per-manufacturer limits for the $7,500 tax credit for electric vehicle purchases, a boost for electric vehicle makers. But the vehicles will have to be built in North America and carmakers will have to quickly end a reliance on China for the battery supply chain.

Toyota upbeat on U.S. despite slide

Toyota's positive assessment comes after the U.S. economy shrank for a second-straight quarter and as U.S. companies initiate such belt-tightening measures as precautionary job cuts.

VW dealers worry about ‘revolving door’ ahead of Scott Keogh’s exit

Volkswagen dealers who were excited about the stability that Scott Keogh would bring to the job of CEO of VW of America now find themselves back on the executive merry-go-round, and they're concerned that the German brand will continue to cycle executives in and out of North America.

Carvana shifts to cost-cutting mode after losses

Carvana CEO Ernie Garcia says the retailer has shifted priorities to favor cost efficiency and cash flow for the first time in company history.

Auto industry forecasting is suddenly really tough

The industry's challenges, from chip shortages to rising inflation, are taking a toll on the dark science of forecasting.

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