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Industry News

Tesla's Musk pushed for SolarCity deal despite major cash crunch, documents show

The filing was part of a lawsuit by Tesla shareholders alleging the companys board breached its duties to investors by approving the $2.6 billion acquisition of the struggling company, which was run by Musks first cousins. ...

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Honda to buy electricity from wind, solar farms

Honda is among a growing number of big companies turning to renewables as wind and solar become two of the cheapest sources of power available and as customers and investors push them to fight global warming. ...

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UAW strike in U.S. leads to another 700 layoffs at GM Canada

About 700 workers of the 1,100 at the St. Catharines Propulsion Plant, which supplies V6 and V8 engines to assembly plants in the United States, have been told to stay home this week. Unifor says 5,000 workers, including those at supply plants, in Canada have been put on leave due to the strike. ...

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Group 1 estimates at least $12.5 million in damages from storm

Group 1 said its stores in Houston reopened Friday. Stores in Beaumont, Texas, are open on a more limited basis. ...

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Frankfurt show's visitor plunge could mean its end

Europes biggest auto show could move to Berlin from Frankfurt as organizers consider ways of boosting flagging interest from automakers and the public . ...

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Nimble tech firms must adapt as AV revolution hits speed bumps

Faced with the harsh reality that an autonomous future is further away than originally promised, smaller companies in the self-driving space are pivoting to alternate uses for their technology. ...

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Nio, after $5 billion in losses, fights to survive

It took Tesla about 15 years to rack up $5 billion in losses. The company known as Chinas Tesla did it in four. The bleeding continues. Shanghai-based Nio is poised to report Tuesday that it lost another 2.6 billion yuan ($369 million) -- around $4 million a day -- during the second quarter, according to the average of two analyst estimates. ...

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