Dire Predictions: Climate goals likely to be missed by 75 percent, says industry funded study
Toronto, Ontario – A study backed by electric vehicle (EV) manufacturers Polestar and Rivian warns that the automotive industry will likely miss climate goals by 75 percent, further highlighting that targets would be missed even if all cars sold tomorrow were electric. According to Reuters, the pathway report provides three recommendations to achieve climate targets […]
Tuesday Ticker: Toyota remains world’s top-selling automaker; EV stocks rally and drop
Toronto, Ontario — Toyota remains the top-selling automaker globally, but not in Canada; Lucid and other EV stocks see a short-lived increase and Uni-Select prepares to unveil its Q4 2022 results in this weekly Tuesday Ticker. Toyota on top Toyota sold more than 10.5 million vehicles in 2022, retaining its spot as the world’s top-selling […]
Upstanding EV: Rivian R1T earns IIHS Top Safety Pick+ in crash tests
Toronto, Ontario — In what was certainly a long journey to reach Canadian roads, both for prospective owners and the OEM itself, Rivian can proudly boast that its 2022 R1T electric pickup earned an IIHS Top Safety Pick+ award this past week. In addition to a strong showing in the driver-side small overlap front impact […]
Tuesday Ticker: Nikola’s former CEO charged; Tesla could save big bucks by eliminating ultrasonic sensors
Toronto, Ontario — It’s electric in this weekly Tuesday Ticker as Nikola Corp.’s founder and former CEO is charged with fraud; Rivian recalls a slew of freshly-delivered vehicles and an analyst makes estimates on Tesla’s upcoming cash savings. Milton gets charged Trevor Milton, founder of electric truckmaker Nikola Corp., has been found guilty of fraud […]
Tuesday Ticker: Volkswagen to source battery materials from Canada; Rivian cancels R1T Explore model
Toronto, Ontario — In this week’s automotive economics news: Volkswagen makes plans on an agreement to source nickel, cobalt and other raw materials from Canadian soil; Ford announces plans to cut 3,000 employees and Rivian cancels the entry-level version of its R1T truck. Volkswagen goes metal Volkswagen has sealed an agreement with Canada that will […]
Can’t Riv’ it Down: EV manufacturer Rivian layoffs hundreds of workers
Toronto, Ontario — In spite of last week’s announcement that production and deliveries would be increasing, Rivian has revealed plans to cut five percent of their workforce. According to Bloomberg News, this layoff equates to hundreds of jobs across Rivian’s 10,000-strong global workforce. This decision comes after Rivian increased staffing through certain sectors related to non-manufacturing […]
Riv’ it up : Rivian increases deliveries, Canada EVs delayed
Toronto, Ontario — Electric vehicle manufacturer Rivian has increased its Q2 delivery and production numbers following a difficult production period for the company with a loss of earnings through Q1. Rivian has announced the production of 4,401 vehicles between April 1 and June 30 2022. This number represents a 72 percent increase in production, as […]
Tuesday Ticker: May 31, 2022
Toronto, Ontario — In this weekly Tuesday Ticker, Rivian sees some executive shake-ups amid an already tumultuous year, while another battery tech player sets its sights on Quebec’s cathode active materials (CAM). Do the Rivian shuffle Rivian is reorganizing its executive ranks as one of its top manufacturing officers parts ways with the EV automaker. […]
Tuesday Ticker: May 24, 2022
Toronto, Ontario — Ford throws seven million more Rivian shares up for sale while Uber tries to offset its losses in Collision Repair’s weekly Tuesday Ticker. Red-tag item, Rivian Last week, it was reported Ford Motor Co. had offloaded eight million shares in electric vehicle startup Rivian. On Monday, May 16, the automaker sold a […]
Tuesday Ticker: May 17, 2022
Toronto, Ontario — This week, Ford ditches more than 15 million of its shares in Rivian, while a company known for car ‘vending machines’ finds itself in hard times. Rough week for Rivian Ford has offloaded more than US$400 million in Rivian shares this past week. The automaker sold eight million shares of Rivian on […]
