Dec 5, 2019

GM to create 1,100 Ohio jobs with huge new battery factory

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Toyota executive warns of "electrified armageddon" for auto industry

GM plans 20 new electric vehicles by 2023, including many Cadillac models. Photo: GM

While General Motors was announcing plans Thursday for a huge $2.3 billion battery factory to boost production of electric vehicles, a Toyota executive warned of a looming industry disaster, calling it "electrified armageddon."

Why it matters: Somebody is wrong. Either GM's heavy spending on battery-electric vehicles will be wasted, or Toyota will be caught flat-footed when the rest of the market goes electric.

Go deeperArrowDec 6, 2019

The electric vehicle shakeup hits Audi

Photo: Hauke-Christian Dittrich/picture alliance via Getty Images

More and more automakers are reckoning with the twin forces of a soft global auto market and the need to position themselves for a more electrified future.

Driving the news: Audi said yesterday it's cutting 9,500 jobs by 2025 as it seeks to boost earnings and navigate the "transformation of the automotive industry towards electric mobility and digitalization" — but it's also adding 2,000 jobs focused on electric vehicles and digital tech, according to the Wall Street Journal.

Go deeperArrowNov 27, 2019

Tesla and Ford will debut highly anticipated battery-powered vehicles

Ford's Mustang Mach-E crossover debuts Sunday. Photo: Ford

Some highly anticipated battery-powered vehicles are expected to debut next week from Tesla, Ford and other automakers.

The big picture: "After spending billions on eco-friendly, all-electric cars that resulted in lackluster sales, automakers are shifting their target market from earthy environmentalists to gearheads and thrill seekers looking for speed," per CNBC.

Go deeperArrowNov 16, 2019