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Amazon-backed EV startup Rivian Automotive plans to build a second U.S. assembly plant that will also include battery cell production, four people familiar with the matter told Reuters.

"While it's early in an evolving process, Rivian is exploring locations for a second U.S. manufacturing facility," Rivian spokeswoman Amy Mast said on Thursday. She declined to provide further details.

Multiple U.S. states have bid for the plant -- dubbed "Project Tera" in documents -- which will be announced in a couple of months and break ground early next year, said the sources, who asked not to be identified. The timing could still change given the coronavirus pandemic, which has already delayed the planned announcement from the summer, the sources said.

"We look forward to working with a supportive, technology-forward community in order to create a partnership as strong as the one we have with Normal," Mast said.

Rivian's existing U.S. plant is in Normal, Il…

LOS ANGELES — The founder and CEO of HAAH Automotive Holdings, Duke Hale, has formed a new company that intends to make a bid for ailing Korean automaker SsangYong Motor Co., Hale told Automotive News.

HAAH this week announced that it had abandoned plans to import Chinese cars to the U.S. and would file for bankruptcy liquidation. Hale said he could not provide further information on the bankruptcy filing, including the filing date, on advice of legal counsel.

Should Hale's new investor group be successful in its bid for SsangYong, Hale said that bringing its vehicles to the U.S. and Canadian markets from Korea would likely be part of the business plan for the automaker.

"If we were successful in our acquisition of SsangYong globally, that obviously means we would have the [right to] the U.S. and Canada markets," Hale said.

Hale's new Delaware-based company, Cardinal One Motors, will take over HAAH's yearlong interest in the court process to fin…

General Motors said Wednesday it will cut some truck production in North America because of the ongoing global semiconductor shortage.

The automaker said its Flint Assembly plant in Michigan that builds the Chevrolet Silverado HD and GMC Sierra HD trucks will operate on one production shift the week of July 26.

GM said its Ft. Wayne Assembly plant in Indiana that builds the Chevrolet Silverado 1500 and GMC Sierra 1500 model trucks will be idled next week. GM's Silao Assembly plant in Mexico that also builds the Chevrolet Silverado 1500, Cheyenne and GMC Sierra 1500 will also suspend production next week.

All three plants are expected to resume regular production the week of Aug.2

DETROIT -- The global semiconductor chip shortage that has hit automakers around the world and constrained vehicle production will easily drag into next year, the CEO of Stellantis, the world's No. 4 automaker, said on Wednesday.

The comments by Carlos Tavares at an Automotive Press Association event in Detroit echoed those made by Daimler AG earlier in the day.

"The semiconductor crisis, from everything I see and I'm not sure I can see everything, is going to drag into '22 easy because I don't see enough signs that additional production from the Asian sourcing points is going to come to the West in the near future," Tavares said.

The global chip shortage comes as demand for cars has spiked during the global economy's recovery from the coronavirus crisis, driving up prices of new and used vehicles.

Some automakers have adapted to the chip shortage by dropping features from their models, while others have built vehicles without the necessary…

My first newspaper job was in Dallas, and we shared a parking lot with our sister TV station next door. My colleagues and I would notice the TV reporters had nicer cars, fancier clothes and, of course, better hair. I was always much more comfortable writing, so I never contemplated a move to the other side.

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The first two forum sessions aired July 13 ("At Your Service: The State of the Industry"…

Porsche Cars North America COO Joe Lawrence says the sports car maker is on track for a record year in 2021, with the hot-selling Taycan electric sedan leading the charge.

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FRANKFURT -- Porsche must pay a fine of 40 million euros ($47 million) for breach of duty relating to its tax filings, German prosecutors said.

The company is paying that sum to the state of Baden Wuerttemberg, where it is based, and not appealing the fine, the prosecutors added.

"Therefore, the proceedings against Porsche have been legally completed," they said.

The case relates to filings between 2009 and 2016.

Lithia Motors Inc.'s revenue and earnings per share reached second-quarter records as net income jumped nearly fourfold on soaring new- and used-vehicle sales, higher gross vehicle profits and improved finance and insurance profits.

Net income totaled $304.9 million, up from $77.7 million in the same 2020 quarter that saw showrooms temporarily close and business slow during the early days of the coronavirus pandemic. Revenue more than doubled to $6 billion.

Adjusted net income also more than tripled to $315.5 million, up from $85.5 million in the quarter ended June 30, 2020. The adjusted results in this quarter included 37 cents a share of charges for acquisition costs, a net loss on the sale of dealerships and insurance reserves that Lithia said were somewhat offset by a gain in an investment.

Results in the year-earlier quarter included 34 cents a share of charges for asset impairment, insurance reserves and acquisition costs, partially offset by…

Biden administration officials say they’re starting to see signs of relief for the global semiconductor supply shortage, including commitments from manufacturers to make more automotive-grade chips for car companies that have had to idle production.

U.S. Commerce Secretary Gina Raimondo, who has led President Joe Biden’s efforts on chip supply, has brokered a series of meetings between semiconductor manufacturers, their suppliers, and their customers including automakers. Senior administration officials said the meetings helped ease mistrust between the sides related to the chipmakers’ production and allocation and automakers’ orders.

The result has been more transparency about the manufacturers’ production and shipments and a gradual increase in supply for automakers, Raimondo said in an interview. The administration has also recently pressed governments in Malaysia and Vietnam to ensure semiconductor plants would be deemed “critical” businesses and maintain …

Mexican supplier Nemak's revenue climbed 137 percent to $955 million in the second quarter as improved operating efficiencies, higher aluminum prices and favorable currency exchange rates helped boost results -- offsetting production interruptions caused by the global microchip shortage.

The supplier of powertrain and body structure components on Tuesday said it swung to net income of $44 million in the second quarter from a $125 million loss a year earlier, when customer production stoppages hindered its global operations for eight consecutive weeks.

Nemak's production volume grew to 9 million units in the second quarter, up nearly 104 percent from 4.4 million units in the year-earlier period. The supplier says that's because of increased customer demand and improving economic conditions in the post-pandemic world.

Earnings before interest, taxes and other adjustments swung from a loss of $37 million in the year-earlier period to $150 million this quart…

Detroit lender Ally Financial Inc. on Tuesday reported higher profits and its largest auto origination volume in more than a decade as consumer demand for cars and trucks remains high.

Ally, one of the largest U.S. auto lenders, reported second-quarter net income of $900 million, nearly quadruple the $241 million it reported in the year-earlier period.

Consumer auto originations grew to $12.9 billion, up 79 percent from $7.2 billion in the second quarter of 2020, and marked the highest level in 15 years. There also was a record 3.5 million applications "decisioned" in the quarter.

For the first time in the company’s history, there was a net recovery in credit, in part driven by strong demand and general spending power for consumers, CEO Jeffrey Brown said on an investor call. 

Auto originations covered $7.3 billion in used retail volume, or about 56.6 percent of total originations, as well as $3.8 billion in new-vehicle retail volume and…