MILAN — Stellantis plans to generate around 4 billion euros ($4.5 billion) in additional annual revenues by 2026 and around 20 billion euros ($23 billion) by 2030 from software-enabled product offerings and subscriptions. Presenting its long-term software strategy on Tuesday, the automaker said it expected to have 34 million connected vehicles on the streets by
DETROIT — In 14 months as CEO of Ford Motor Co., Jim Farley has displayed an affinity for baseball metaphors. The industry, he likes to say, is in the “early innings” of electrification. On Ford’s third-quarter earnings call, he said the company was “taking big swings” with its new products and services. If the pivot
Saudi Arabia and Taiwan’s Foxconn Technology Group are in talks to form a joint venture to build electric vehicles, a move that could help accelerate plans by the oil-dependent kingdom to diversify its economy, according to people familiar with the matter. Saudi Arabia’s Public Investment Fund, which manages about $450 billion of assets, will create
The U.S. auto industry is poised to conduct bold — if involuntary — experiments this month in marketing and inventory management: how to execute the traditional year-end sell-off that consumers have been conditioned to expect when you have very little on hand to sell. December is typically one of the best months for vehicle sales
The company is increasing the size of its showroom network — operated in the U.S. by selected Volvo dealers — as it looks to dramatically grow its global sales in the coming years. Polestar said it is “on target” to reach its plan for 29,000 vehicle deliveries this year and expects to sell 290,000 annually
Asked whether Calabasas Luxury had sought an opinion on the lease policy from the captive finance company itself instead of a Mercedes dealership, Calabasas Luxury attorney Robert Starr said he’d heard from “many people in the industry” that Mercedes would not accept third-party buyouts. Calabasas Luxury also quoted BMW Financial Services in November as saying