TOKYO - Although Toyota expects record growth this fiscal year, it’s cutting its EV sales forecast by nearly 40%. In Toyota’s latest questionable strategy shift, the company will lean into hybrids to “avoid the price competition” in the EV market. Toyota released its Q2 2024 fiscal results Wednesday, showing growth across the board. Through the first half of
DETROIT - The strike against Ford may be over, but the company's electric vehicle woes are far from solved. The entire auto industry, grappling with steadily softening EV demand over cost and existential infrastructure challenges, is beginning to pull back its efforts to grow the sector. Tesla, of course, is dealing with falling sales figures and gross
AUBURN HILLS - Stellantis is looking to grow its commercial vehicle business thanks to a new strategic offensive known as Pro One that includes four electrified pickups including one powered by hydrogen. The company noted they sell 1.6 million commercial vehicles annually and they’re important to the bottom line as they account for one-third of
MARSHALL - In February 2023, Ford announced an ambitious project: a $3.5 billion factory on a 950-acre site near Marshall to produce batteries for its expanding line of electric vehicles. Now, that project has been put on hold, threatening roughly 2,500 new jobs, during the United Auto Workers strike against Ford. Now, that project has
TROY - Michelle Krebs, a senior analyst with Cox Automotive, joins MITech TV to update the latest car prices and news, including the impact of the United Auto Workers Union strike against the Detroit Three. She talks about how used car prices are somewhat stable, but with potential buyers shying away from purchasing new vehicles
LAKE ORION–American Battery Solutions announced yhat it has signed a multi-year contract with leading bus manufacturer NFI Group Inc. to supply custom battery packs that will provide clean power for NFI subsidiary New Flyer’s newest 35-, 40- and 60-foot battery-electric transit buses. NFI is now launching ABS batteries into bus production for customer deliveries starting in
NEW YORK - Although electric vehicles, which continue to surge in popularity, are undoubtedly friendlier to the environment than their gas-powered counterparts, they do still have some drawbacks — mainly, from the adverse effects of their environmentally-unfriendly lithium-ion batteries. Now, scientists at MIT have developed a new alternative to lithium-ion batteries: aluminum-sulfur batteries, which, if adopted,
TOKYO - Panasonic Holdings has revealed that it is working on all-solid-state batteries with a focus initially on drones. Scheduled for mass production in the latter half of the 2020s, these batteries could be the answer to faster, more efficient energy storage. What sets this new technology apart? The company claims that these all-solid-state batteries can charge
DETROIT - Shortly after revealing its high-tech next-generation electric vehicle production line in Japan, Toyota has now shared an ambitious plan to boost its EV output to lock horns with its surging American and European rivals. Toyota has informed its major suppliers of a new target of making 600,000 EVs in 2025, a three-fold increase from
DEARBORN - Ford has announced plans to build a $900 million (1.2 billion Canadian dollars) cathode manufacturing plant in Canada together with South Korean partners EcoProBM and SK On. Located in Bécancour, midway between Montreal and Québec City in the province of Québec, the facility will provide materials to supply batteries for Ford's future electric
