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Electric Last Mile Solutions Inc. warned Friday it may run out of cash in June, at least one month sooner than previously projected, unless it can raise additional capital. The latest projections reflect higher costs in a number of areas, including employee retention and payments to suppliers, the suburban Detroit EV startup said in a
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5:31 AM ET Daniel Ricciardo has not delivered the results hoped for in Formula One, McLaren boss Zack Brown said on Friday after announcing that their IndyCar team had extended their agreement with Pato O’Ward who is eyeing a Formula One seat. McLaren took care of a bit of business ahead of Sunday’s Indy 500
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Toyota is adding special editions and trim levels to its car and light-truck lineup for the 2023 model year, including two which mark significant anniversaries of vehicles in the U.S. 4Runner: The brand plans a run of 4,040 special editions of the midsize off-roader to mark the 4Runner’s 40th anniversary in the U.S. The vehicles
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Bloomberg | Bloomberg | Getty Images One of the best car-shopping weekends pre-pandemic is more of a dud these days. Amid the auto industry’s manufacturing challenges due to persisting supply-chain issues, Memorial Day sales are generally minimal to nonexistent this year. “It’s looking pretty bleak, to be straightforward about it,” said Ivan Drury, senior manager
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6:42 AM ET Former Formula One chief Bernie Ecclestone denied on Friday he had been arrested in Brazil and said an illegal gun found in his luggage before boarding a flight was never used and had no ammunition. The 91-year-old Briton, now in Portugal, told Reuters a “silly, tiny little incident” had caused a lot
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6:17 PM ET Associated Press Seven-time NASCAR champion and Indy 500 rookie Jimmie Johnson hasn’t ruled out returning to the Cup Series, and he might even have an idea of his next race. Johnson said Thursday he’s open to driving the “Memorial Day Double” — competing in the Indy 500 and then the Coca-Cola 600
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In this article TSLA TWTR Sheldon Cooper/SOPA Images | Lightrocket | Getty Images Twitter shareholders are suing Elon Musk, and Twitter itself, over their handling of a chaotic acquisition process that is still underway, and that has contributed to volatile price swings in the company’s stock price. The Tesla and SpaceX CEO revealed a significant stake in Twitter
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WASHINGTON — The U.S. Senate on Thursday confirmed by voice vote President Joe Biden’s nominee to serve as the top auto safety regulator, the first to win approval since January 2017. Steven Cliff has been serving as deputy administrator of the National Highway Traffic Safety Administration since 2021 and was nominated by President Joe Biden
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12:18 PM ET BARCELONA, Spain — The Spanish Grand Prix hit the reset button on Formula One’s 2022 championship. After six rounds, just six points separate Max Verstappen and Charles Leclerc at the top of the championship and there is next to no margin between the performance of the Red Bull and Ferrari on track.
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The National Automobile Dealers Association and several state associations are reaching out to Volkswagen Group of America looking for assurances on how the German automaker’s new Scout brand will be retailed in the U.S., and making sure any plan doesn’t violate state franchise laws, Automotive News has learned. In announcing creation of the Scout brand
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