Nikola acquires EV battery pack supplier Romeo Power for $144 M

CBT News Editorial Team - August 2, 2022

Electric heavy truck maker Nikola announced on Monday that it had reached a $144 million agreement to buy EV battery pack supplier Romeo Power, giving the business control over a vital link in...

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Congress approves $280 bln bill to bolster US chip production

CBT News Editorial Team - August 1, 2022

Late last week, a bipartisan majority in the House approved a $280 billion piece of legislation meant to revive American production of semiconductor chips, a scarcity that has tormented US automakers....

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General Motors offering Green Bonds to finance sustainability projects

CBT News Editorial Team - August 1, 2022

For the first time ever, General Motors has offered green bonds, joining its rivals in utilizing the sustainable debt market to finance the switch to electric vehicles in order to compete with Tesla....

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Manchin, Schumer reach surprising deal on hefty climate action bill

CBT News Editorial Team - August 1, 2022

In a surprise turn of events, Senate Majority Leader Chuck Schumer and Senator Joe Manchin announced a deal that includes $369 billion for energy and climate action initiatives with the goal of...

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Randy Parker promoted to Chief Executive Officer of Hyundai America

CBT News Editorial Team - August 1, 2022

In response to the ongoing chip scarcity, Hyundai Motors, the largest automaker in South Korea, announced Friday that it has appointed a new Chief Executive Officer for its US business. Effective...

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Minority franchise dealers increased by almost 9% in 2021, NAMAD data shows

Chanell Turner - July 29, 2022

According to the National Association of Minority Automobile Dealers (NAMAD), the number of minority franchised dealerships rose by almost 9% from 2020 to 2021. There were a little over 1,250 minority...

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GDP slips 0.9% for second straight quarterly decline—Biden, Yellen deny US recession

CBT News Editorial Team - July 29, 2022

According to the Bureau of Economic Analysis, US GDP, or gross domestic product, shrank by 0.9% in the second quarter. To tackle inflation and decrease the chances of a recession, the Federal Reserve increased...

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Sonic Automotive reports all-time record revenues and gross profit for Q2

CBT News Editorial Team - July 29, 2022

Sonic Automotive has reported its second quarterly earnings. According to a press release, Sonic Automotive had an all-time record adjusted earnings of $3.7 billion, up 9% year-over-year. Sonic also record...

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Ford Q2 earnings surpass expectations, raises shareholder dividend 50%

CBT News Editorial Team - July 29, 2022

Despite trouble with the global supply chain, Ford's adjusted earnings has tripled from a year ago to $3.7 billion as it increases deliveries. After the news was released, company shares were up 6%. Ford...

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Rivian confirms at least 800 layoffs, shifts focus to accelerating production

CBT News Editorial Team - July 29, 2022

Amy Mast, a spokesperson for Rivian Automotive, has confirmed in an email that at least 6% or 800 out of 14,000 of its employees will be laid off to speed up the...

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Nikola acquires EV battery pack supplier Romeo Power for $144 M

Congress approves $280 bln bill to bolster US chip production

General Motors offering Green Bonds to finance sustainability projects

Manchin, Schumer reach surprising deal on hefty climate action bill

Randy Parker promoted to Chief Executive Officer of Hyundai America

Minority franchise dealers increased by almost 9% in 2021, NAMAD data shows

GDP slips 0.9% for second straight quarterly decline—Biden, Yellen deny US recession

Sonic Automotive reports all-time record revenues and gross profit for Q2

Ford Q2 earnings surpass expectations, raises shareholder dividend 50%

Rivian confirms at least 800 layoffs, shifts focus to accelerating production

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