Autos

A shortage of semiconductors is inflicting pain on the automotive industry, forcing companies to cut production and leaving dealers with reduced inventory.

Arizona has rapidly become a hub for electric vehicle and self-driving tech, and it’s now getting three big new microchip factories amid the global shortage.

The estimate is up 81.5% from an initial forecast of $60.6 billion from consulting firm AlixPartners.

Xpeng’s U.S.-listed shares fell nearly 4.9% in Thursday’s trading session despite the start-up reporting greater-than-expected revenue in the first quarter.

Tesla’s Model Y, which launched to customers in China in January, fell to sixth place in April, down from third, according to China’s Passenger Car Association.

Cruise’s CEO disclosed the timing Thursday, giving the most specific time frame yet for the vehicle and commercialization of its autonomous vehicle business.

On today’s show, Kate Rooney explains Tesla’s suspension of bitcoin payments for cars.

GM CEO Mary Barra has cut costs, slashed 64,000 jobs, exited unprofitable markets and audaciously pledged to make GM an all-electric auto company by 2035.

Tesla CEO Elon Musk said Tesla would suspend car purchases using bitcoin, wiping off billions of dollars of value from the cryptocurrency market.

Nissan is planning to make half a million fewer vehicles in 2021 as the global chip shortage continues to wreak havoc on the automotive industry.

Ford is calling its new remote update capability “Power-Up,” highlighting the ability for the company to enhance and upgrade a vehicle well into its lifecycle.

Glenn O’Donnell, a vice president research director at advisory firm Forrester, believes the shortage could last until 2023.

Indian Uber rival Ola will waive its commission until Aug. 13 for drivers in London that own an electric vehicle.

WeRide is one of the many companies based in China pushing aggressively to take a lead in the autonomous driving space globally.

Tesla has “suspended vehicle purchases using bitcoin,” Elon Musk said, citing environmental concerns.

Federal vehicle safety regulators are investigating yet another Tesla-involved crash– it has started 29 so far, 25 of which are underway.

Parts of the Southeast suffered gas shortages and long lines at the pump after the largest fuel pipeline in the U.S. was crippled by a ransomware attack.

The app’s surge follows a cyberattack on Colonial Pipeline this week, which led to gas shortages and panic buying.

Shares of Hertz skyrocketed by as much as 68% after it selected a $6 billion turnaround bid that provides a rare payout to shareholders.

Volkswagen is planning to bring to market by 2025 a version of its upcoming microbus, a retro-styled electric van, that can drive itself.