Faraday Future (FFIE.O), the electric vehicle (EV) maker, has withdrawn its production forecast for 2024, citing market conditions and funding issues. This decision caused its shares to drop by more than 11% in extended trading.

Faraday Future withdraws 2024 production forecast amid funding challenges

The growing popularity of sports utility vehicles (SUVs) is significantly impacting global oil demand and CO2 emissions. According to a report by the International Energy Agency (IEA), the love for larger cars like SUVs accounted for more than a quarter of the annual global demand growth for oil and 20% of the added energy-related CO2 emissions.

SUVs drive up global oil demand and CO2 emissions: IEA report

BYD, China's prominent electric vehicle manufacturer, has unveiled its latest plug-in hybrid technology, escalating the competition with gasoline-powered rivals such as Toyota and Volkswagen.

BYD unveils advanced hybrid technology

Volkswagen Group’s Board of Management has revealed plans to open up access to affordable zero-emission entry-level vehicles across Europe. The Brand Group Core plans to bring electric cars with affordable prices to Europe with a debut in 2027.

Volkswagen announces affordable electric vehicles for Europe

Obtaining a driver’s licence in India has always been a tussle, either with the lousy RTO operations or other bureaucratic-hurdles. However, that is set to change with the implementation of new driving licence rules from June 1 onwards.

New driving licence rules to come into effect from June 1

The Skoda Kodiaq has been a popular SUV in its segment thanks to its sheer quality, powerful yet frugal powertrain and 7-seater configuration. Unlike the other models that are locally produced, the Kodiaq comes to the Indian market via the CBU route, which also explains its steep price tag.

Skoda Kodiaq SUV online bookings paused (Update)

The Peugeot family, renowned for its historic automotive legacy, faces significant pressure from minority shareholders over the performance of Peugeot Invest, its listed investment vehicle.

Peugeot family faces shareholder discontent over Peugeot Invest's performance and strategy

Stellantis has announced significant plans to bolster its manufacturing operations in Italy. On 27th May, during a meeting in Turin, Stellantis CEO Carlos Tavares outlined the company's future production strategy to union partners, emphasising flexibility in response to uncertain electrification trends.

Stellantis announces hybrid model production in Italy amid electrification uncertainty

The new Genesis Neolun is set to take the top spot in the South Korean carmaker’s portfolio. The 3-row electric SUV is said to be benchmarked against the most luxurious SUVs on sale, namely the Range Rover, Bentley Bentayga and the likes.

Genesis Neolun concept touted to be GV90 electric SUV

Tesla has released some big figures in its 2023 Impact Report, focussing on how much of the natural resources can be saved if the global economy transitions to a fully sustainable model.

Impact Report 2023: Each Tesla on the road avoids about 51 tons of C02e

Proxy advisory firm Glass Lewis has advised Tesla shareholders to vote against a USD 56 billion compensation package proposed for CEO Elon Musk, potentially making it the largest pay deal for a CEO in corporate America.

Glass Lewis advises Tesla shareholders to reject Musk’s USD 56 bn pay package

Toyota's motorsport and sports car division, Gazoo Racing, continues to invest heavily in ICE technology. GR president Tomoya Takahashi emphasised that the division plans to utilise combustion engines as extensively as possible.

Toyota's Gazoo Racing bets on combustion engines amidst electric shift

The connected car market is experiencing an increased growth at a CAGR of 18.75% as it is expected to reach USD 416.66 billion by 2030, as per a research by 360iResearch.

Connected car market expected to reach USD 416.66 billion by 2030

UK-based Helm Motorcars, founded by renowned restoration specialist Chedeen Battick, who has over a decade’s worth of experience restoring E-types, has announced the third in its limited series of 20 Jaguar E-type Series 1 builds, The Rhode Island Commission.

Helm’s The Rhode Island Commission Series 1 Jaguar E-type revealed

General Motors' (GM.N) CEO Mary Barra has reaffirmed the company's commitment to developing autonomous vehicles, emphasising their potential to enhance road safety.

Mary Barra endorses GM’s autonomous vehicle efforts amid regulatory challenges

Porsche has become the latest and third manufacturer after Nissan and Jaguar to extend its commitment to the ABB FIA Formula E World Championship. The latter two manufacturers confirmed their continued participation in the all-electric open-wheel racing series at the beginning of the year.

Porsche extends Formula E commitment to Gen4 era

Tesla founder Elon Musk has expressed his opposition to U.S. tariffs on Chinese electric vehicles (EVs), reversing his previous stance that trade barriers were necessary to protect American car companies.

Elon Musk opposes U.S. tariffs on Chinese EVs, calls for free market

In a tactical approach towards Indian automotive market, Volkswagen Group’s finance director Arno Antlitz revealed on Thursday that the firm is currently involved in negotiations in connection with the production of passenger cars in India.

Volkswagen in talks for passenger car production partnerships in India

Swedish electric vehicle (EV) manufacturer Polestar has announced a delay in reporting its first-quarter results, originally scheduled for May 23. This postponement is due to the need to finalise the company’s annual report for 2023, addressing prior accounting misstatements.

Polestar delays Q1 results amid accounting issues

After more than a year of silence, Tesla has finally released its Autopilot safety data report. The latest report provides crucial insights into the performance of Tesla's Autopilot technology, shedding light on its safety compared to non-Autopilot driving and industry averages.

Tesla releases autopilot safety data after year-long hiatus

French sports-car brand Alpine, which is owned by Renault, has announced that it is planning to enter the US market in 2027 with an array of electric vehicles. It has revealed a more specific roadmap for the US led by an electric coupe and convertible.

Alpine A110 successor to be launched in the US

Mercedes pulled the wraps off the first model of its highly exclusive Mythos Series in the form of the Mercedes‑AMG PureSpeed Concept. The global debut took place in Monaco on the sidelines of the upcoming F1 race weekend, in the presence of Mercedes-AMG Petronas F1 Team racing drivers Lewis Hamilton and George Russell.

Mercedes-AMG PureSpeed Concept is the first Mythos series model

Electric vehicle giant Tesla is taking proactive measures to safeguard its supply chain by urging suppliers to establish production facilities outside of China and Taiwan.

Tesla looks past China, Taiwan for parts supply

In a significant legal shift, the U.S. Court of Appeals for the Federal Circuit has overturned a previous win for General Motors (GM) in a patent dispute with aftermarket auto-parts provider LKQ Corporation.

Court overturns GM win in key design patent case with LKQ

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