Maker

Dodge to give away 25 cars, create ‘Chief Donut Maker’ brand ambassador post

Dodge plans a 25-car giveaway and a new brand ambassador it’s calling “Chief Donut Maker” with a $150,000 salary and a Hellcat to drive as part of a two-year business plan it’s unveiling Monday called “Never Lift.”

First launched in 1974, Direct Connection provided ready-to-run performance parts to help racers compete and win with the Direct Connection logo emblazoned on their vehicles. The return of Direct Connection will supply a new generation of muscle car enthusiasts and racers with factory-backed performance parts and straight-from-the-manufacturer technical information.

First launched in 1974, Direct Connection provided ready-to-run performance parts to help racers compete and win with the Direct Connection logo emblazoned on their vehicles. The return of Direct Connection will supply a new generation of muscle car enthusiasts and racers with factory-backed performance parts and straight-from-the-manufacturer technical information.

That’s a reference to never taking your foot off the accelerator, which is right in line with the Dodge ethos of more is better and there’s no such thing as too much horsepower.

Dodge brand CEO Tim Kuniskis is also promising news announcements every three months. It’s worth noting that Dodge plans to launch an electric muscle car in 2024, so it’s reasonable

Read More

Rivian, the Amazon-backed electric vehicle maker, seeks to raise $8.4 billion in IPO

Amazon-backed electric car maker Rivian is seeking a valuation that would place it among the world’s most valuable automotive companies when it goes public in the coming days, according to an amended S-1 filing on Monday.

Rivian said it expects to offer 135 million shares of its Class A common stock priced between $57 and $62 per share. An additional 20.25 million shares will be made available to the IPO’s underwriters. Rivian could raise as much as $8.4 billion when it debuts if shares trade at the high end of its range, or a total of more than $9.6 billion if underwriters exercise their options.

The California-based company’s filing indicates a targeted valuation of more than $53 billion based on outstanding shares, though that number could change based on investor demand and market conditions. The Wall Street Journal reported Rivian

Read More

Croatian EV company Rimac takes majority stake in supercar maker Bugatti

ZAGREB, Croatia — Croatia’s electric supercar maker, which started in a garage a decade ago, is taking over the iconic French manufacturer Bugatti in a deal that is reported to be worth millions of euros.

The Croatian car producer Rimac Automobili said Germany’s Volkswagen Group
VOW,
,
including the Porsche division — which owns a majority stake in Bugatti — plans to create a new joint venture. The new company will be called Bugatti-Rimac.

Rimac Automobili announced Monday that it will be combining forces with Bugatti to “create a new automotive and technological powerhouse.”

Rimac has progressed in 10 years from a one-man garage startup to a successful company that produces electric supercars. Mate Rimac, who founded the company in 2009, says the venture is an “exciting moment” and calls the combination of the companies “a perfect match for each other.”

Porsche will own 45% of Bugatti-Rimac while Rimac Automobili

Read More

Cox Automotive signs service deal with U.S. commercial EV maker

By Ben Klayman

DETROIT (Reuters) – U.S. electric commercial vehicle maker Electric Last Mile Solutions (ELMS) said on Monday it has signed a letter of intent for Cox Automotive to supply service and repairs for the delivery van it will launch later this year.

Under the deal, Cox’s Pivet unit will provide warranty repairs, vehicle maintenance, roadside assistance, collision repairs and EV battery servicing to ELMS’ customers, the companies said. Cox boasts a network of more than 6,000 service centers, 3,000 partners and over 800 mobile technicians. Financial terms were not disclosed.

“The opportunity to collaborate with industry leader Cox Automotive helps put us on track to offer customers one of the most comprehensive service solutions that addresses their fleet needs in the most time and cost-efficient manner,” ELMS Chief Executive James Taylor said in a statement.

Cox, a subsidiary of privately owned Cox Enterprises, owns the Autotrader online automobile

Read More