Author: Automotive News Breaking News Feed

Chinese EV developer Faraday Future said co-founder Nick Sampson has resigned, a week after the cash-starved company planned pay cuts and layoffs to reduce operational costs.

Chinese EV developer Faraday Future’s co-founder, Nick Sampson, has resigned, tech website Verge reported, a week after the cash-starved company planned pay cuts and layoffs to reduce expenses.

GM’s third-quarter earnings report, set for release Wednesday, could shed more light on operational challenges and how the company plans to navigate them.

Hyundai Motor named William Lee, who’s held various leadership roles in 35 years with the automaker, interim president and CEO of Hyundai Motor America. He replaces Kenny Lee, who left the post Monday and returned to Korea in an advisory role.

The Carbon Series GTs will be 40 pounds lighter than the standard supercar thanks to carbon fiber wheels, a titanium exhaust, titanium lug nuts and a polycarbonate rear hatch with additional venting.

U.S. light-vehicle sales are expected to dip to the lowest level for October since 2014, forecasters say, as automakers dial back on deals and the cost to buy a new car or truck keeps rising. The SAAR is expected to remain strong and top 17 million.

The EV mandate the automaker proposed last week made for some good press, but it was only half the story.

Bentley may launch its first full-electric vehicle to help reduce its fleet CO2 emissions as lawmakers introduce stricter reduction targets.

Fiat Chrysler said strong profit margins in North America helped lift adjusted earnings by 13 percent in the third quarter while reducing its forecast for how much cash it will have on hand at the end of the year.

Fiat Chrysler outearned Ford in the third quarter, and it fulfilled a prediction from two years ago by then-CEO Sergio Marchionne by posting a record double-digit profit margin in North America.