The Federal Chamber of Automotive Industries (FCAI) has issued a warning of the risk of purchasing counterfeit car parts, after 1.7 million counterfeit parts were confiscated earlier this year in what it warns is an alarming new trend. The FCAI says that some of the most common yet dangerous counterfeit […]
Industry
Polestar plans $20 billion joint public listing, fast track expansion
Swedish electric vehicle manufacturer and Volvo subsidiary, Polestar, has announced plans to go public with a merger involving a US firm, with an enterprise value of $20 billion. This is set to bring a substantial cash injection to help fast track Polestar’s plans to dominate the world of electric vehicles. […]
Rivian aiming to raise $8 billion in IPO, seeks valuation of $80b – report
Californian electric vehicle manufacturer, Rivian is eyeing off a market valuation exceeding $80 billion as it attempts to raise more than $8 billion in an upcoming initial public offering (IPO), according to reports. Reuters is writing that the Amazon-supported electric vehicle maker is looking to raise anywhere between $5-8 billion […]
Hyundai Santa Cruz pickup tops fastest-selling car charts in USA for August
The Hyundai Santa Cruz has managed to top the list as the fastest-selling car for the month of August over in the USA, taking just eight days to sell per unit, well ahead of the average of 26 days, according to the latest research. The numbers come from iSeeCars, who […]
US safety regulators request data from carmakers to assist in Tesla probe
The US National Highway Traffic Safety Administration (NHTSA) has called on a number of major automakers to provide data on their self-driving and driver assistance programs to aid its investigation into Tesla’s Autopilot system. As reported last month, the NHTSA opened a formal probe into Tesla’s Autopilot system for a […]
Australian vehicle sales for August 2021 (VFACTS)
The Australian Federal Chamber of Automotive Industries has released VFACTS new vehicle registration figures for August 2021, and it looks like the numbers are continuing to rise and recover. Australian consumers snapped up 81,199 new vehicles during August, according to the figures. Compared with August last year, that’s up 33.1 […]
Ram tops JD Power’s 2021 Initial Quality Study in USA
Ram has taken out the top spot in JD Power’s Initial Quality Study in the USA for the first time, marking a significant milestone for parent company Stellantis with Dodge taking out second place. The result is made even more impressive by the fact that just 24 months ago, Ram […]
Saudi Arabia wealth fund buys 30% stake in Pagani
Details are emerging of a deal that involves Saudi Arabia’s sovereign wealth fund, otherwise known as the Public Investment Fund (PIF), purchase a minority stake in Italy’s boutique supercar manufacturer, Horacio Pagana SpA. According to a Bloomberg report, the Saudi Public Investment Fund has purchased a 30 per cent stake […]