Tesla ranks as most American

Plus: Ford lands major government loan, Cox and Cars.com market analysis, Hyundai plans for electric future, Land Rover's recall, Rivian adopts Tesla standard, VW cuts costs, Mazda in talks with Panasonic, and more

June 23, 2023

Happy Friday morning. This is Car Alerts with your weekly update from across the car world.

This week we saw a slew of EV-related headlines from major automakers. From partnerships to government grants and new joint ventures. A significant focus has been on raw materials (for EV battery production) and planning for an electric transition.

As far as the markets go, keep an eye on CarMax, which released a Q1 earnings beat this morning. Otherwise, stocks have calmed down from last week’s big rally.

Now let’s get into the rest of the email.

In today’s edition:

  • Cars.com releases American-Made-Index

  • Cox Auto’s market report

  • Ford gets massive government loan

  • Stellantis' new joint venture

  • Rivian adopts Tesla’s charging standard

  • Land Rover’s latest recall

  • & more

📈 MARKETS

Note: Stock market data as of Thursday’s market close.

📰 HEADLINES

Ford gets $9.2 billion U.S. government loan to build three EV battery plants in Kentucky and Tennessee to help America compete with China’s EV dominance.

Cars.com releases American-Made-Index, and Ford/GM did not make the top 10.

Stellantis and Foxconn (iPhone assembler) form joint venture to produce semiconductors for the auto industry starting in 2026.

Cox Automotive releases weekly market report highlighting increasing loan rates and decreasing used car prices.

Rivian adopts Tesla’s North American Charging Standard (NACS), following in Ford and GM’s footsteps.

Electric truck maker Nikola is laying off 270 employees. The news hit after the stock rallied over 70%.

Hyundai will spend $28 billion over the next decade to boost EV sales and restructure its operations in China.

Rivian acquires ABetterRoutePlanner (ABRP), a route planning app for EV drivers.

Automakers race to secure alternative graphite sources as roaring EV sales cause shortage of the raw material (graphite is the most significant battery component by weight).

Mazda in talks with Panasonic about an EV-related battery supply partnership.

Tesla's Musk eyes significant India investments after meeting Prime Minister Modi.

Volkswagen forecasts $11 billion in saved costs from incoming efficiency measures.

😎 COOL CARS FOR SALE

1988 Mercedes-Benz 560SEC

thembmarket.com/1988-mercedes-benz-560sec-2

1997 Toyota Land Cruiser FZJ80

bringatrailer.com/listing/1997-toyota-land-cruiser-fzj80-70

2002 Ford F-150 SVT Lightning

carsandbids.com/auctions/rMWvYYZm/2002-ford-f-150-svt-lightning

1999 Ferrari 550 Maranello

www.kassermg.com/listings/1999-ferrari-550-maranello

2014 Cadillac CTS-V Wagon

http://bringatrailer.com/listing/15k-mile-2014-cadillac-cts-v-wagon

1980 Ford F-150 Custom

www.ebay.com/itm/266309038106

😂 FUNNIES

That’s all we have for you this week. We’ll see you next Friday morning with more car content.

Have feedback or want to get in touch? Please send us a note on Twitter (@CarAlerts). We’d love to hear from you.

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