Garrett Nelson, Senior Equity Analyst, CFRA Research, joins Yahoo Finance to discuss the hit to General Motors’s truck production due to the chip shortage and the impact of the shortage to the overall auto industry.
DETROIT (Reuters) -General Motors Co and its Cruise robo-taxi subsidiary said early Saturday they have asked a U.S. federal court to stop Ford Motor Co from using the name "BlueCruise" to market its hands-free driving technology. In a statement and documents released shortly after midnight Detroit time, GM said Ford's use of the BlueCruise name infringed on GM's Super Cruise and other GM trademarks for automated driving, such as Hyper Cruise, as well as Cruise's trademarks.
(Bloomberg) -- Rivian Automotive Inc., the electric truck startup backed by Amazon.com Inc. and Ford Motor Co., said Friday it raised $2.5 billion as it prepares to debut its plug-in pickup and sport-utility vehicle this fall.The latest round of funding brings the total amount of capital Rivian has raised to $10.5 billion, it said in a statement. The extra cash comes just after the Irvine, California-based automaker revealed a delay in the launch of its new models and as it looks to establish a