Tesla plans to raise as much as $1.15 billion in stock and debt to aid in the launch of the Model 3, its first mass market car. The EV company announced Wednesday it will offer $250 million in common stock and $750 million in convertible debt, with an option for its underwriters to buy up […]
Audi has confirmed it will launch its Q4 in 2019 as the brand continues to expand in the hot-selling SUV/crossover market. The coupe-styled SUV/crossover will challenge models such as the upcoming BMW X2 and the Range Rover Evoque. “We offered a preview of this type of vehicle with the Audi TT offroad concept study three years […]
Ford’s next-generation Fiesta ST is losing at least one cylinder — and sometimes two — but it’s gaining an injection of technology under the hood. The new Fiesta ST, going on sale in Europe early next year, debuts Ford’s second three-cylinder engine, a 1.5-liter turbo that generates 197 hp and features a cylinder deactivation system […]
Honda’s 306-hp Civic Type R hatchback, which debuted last week at the Geneva auto show, targets rival hot hatches such as the Subaru WRX STI and Volkswagen Golf R. One thing it lacks though, is the all-wheel-drive setup those models offer as standard; the Type R is front-wheel drive only. It aims to make up […]
Intel has confirmed its plans to acquire Mobileye, a company that specializes in self-driving cars and has teamed up with the likes of Tesla and BMW in the past. The Israeli firm will be bought in a deal currently valued at $15.3 billion and will push Intel’s self-driving car efforts forward quite a bit. Intel and […]
Lexus’s newest hybrid sedan is aimed squarely at Mercedes-Benz and Tesla. The LS 500h that debuted Tuesday at the Geneva auto show is an electric- and gasoline version of Lexus’s flagship sedan. But where Tesla’s $70,000 Model S comes with an all-electric engine system, and the Mercedes S-class 550e hybrid boasts a 436-hp V-6 […]
Mercedes-AMG plans a four-door sports car with optional electric power based on a concept introduced at the Geneva auto show. The Mercedes-AMG GT Concept is the second AMG model equipped with “EQ Power+,” Mercedes said, noting that it can be operated in three modes: pure electric, pure combustion or a combination of both. “With the […]
The Crosstrek, Subaru’s No. 3 seller in the U.S., will be replaced in August with a version that rides on a new, stiffer global platform. Subaru showed the second-generation subcompact crossover for the first time Tuesday at the Geneva auto show. The Crosstrek’s new platform has a lower center of gravity, which improves handling, and […]
PSA Group has agreed to buy Opel from General Motors in a deal valuing the business at 2.2 billion euros ($2.3 billion), the companies said on Monday, creating a new regional car giant to challenge market leader Volkswagen. The maker of Peugeot and Citroen cars vowed to return Opel and its British Vauxhall brand to […]
After 51 fires were reported, Daimler AG made the decision to recall 1 million newer Mercedes-Benz vehicles. A defective starter part has been named as the source of the car fires. The fires have been happening when the engine doesn’t start. When a limiter in the starter motor overheats from too many attempts to start, […]
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