Enlarge (credit: Monty Rakusen | Getty Images) Ten major car and motorcycle groups announced factory closures or froze sales to Russia as the industrial fallout from the country’s invasion of Ukraine spread on Wednesday. Porsche and BMW became the latest carmakers to shut European plants because of a lack of parts from Ukraine, while Toyota, […]
Enlarge (credit: Aurich Lawson | Getty Images) The auto industry continues to suffer the effects of a worldwide shortage of silicon chips. General Motors will idle production of midsize pickup trucks at a factory in Missouri until April 12 and extend the shutdown of another factory in Michigan. In South Korea, Hyundai Motor Group, which […]
Enlarge / Ford has cut production at its Chicago facility from three shifts to one as a global chip shortage takes a toll on the car industry. (credit: Scott Olson | Getty Images) The Biden administration has pledged to take immediate action to address a global shortage of semiconductors that has forced the closure of […]
Shares of South Korean automaker Hyundai soared on Friday after a company representative said the carmaker was in preliminary talks with Apple on a partnership to produce an electric car. Hyudai’s stock rose as much as 20%—adding $8 billion to the company’s market value-—the biggest one day jump since 1988. But, within hours, the company […]