China’s Underground Market for Chips Draws Desperate Automakers

(Bloomberg) — In her two-bedroom apartment on the outskirts of Chinese tech hub Shenzhen, Wang woke to a deluge of messages. One read: “SPC5744PFK1AMLQ9, 300 pc, 21+. Any need?” Most Read from Bloomberg Within minutes, the 32-year-old was at her computer in the living room, hurriedly clearing away empty packets of instant noodles and pulling … Read more

Automakers say U.S. Senate bill will jeopardize 2030 EV targets

Breadcrumb Trail Links PMN Business Author of the article: Article content WASHINGTON — A group representing General Motors, Toyota Motor, Volkswagen and other major automakers said a $430 billion bill approved Sunday by the U.S. Senate will put achieving U.S. electric-vehicle adoption targets for 2030 in jeopardy. “Unfortunately, the EV tax credit requirements will make … Read more

U.S. automakers say 70% of EV models would not qualify for tax credit under Senate bill

Breadcrumb Trail Links PMN Business Author of the article: Article content WASHINGTON — Most electric-vehicle models would be ineligible for a $7,500 tax credit for U.S. buyers under a Democratic proposal in the U.S. Senate, a group of major automakers said on Friday. Automakers have been privately expressing concern about the proposal’s increasing requirements for … Read more