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General Motors won’t be following Tesla and Ford in lowering the prices of its electric vehicles. The Detroit-based automaker doesn’t feel the need to. Company CEO Mary Barra said during the automaker’s earnings call this week that the company was confident in its prices. With more automakers launching new electric vehicles, competition is heating up as companies fight for customers in the small yet growing battery-electric-vehicle segment. In mid-January, Tesla slashed prices for every model in its lineup , and the automaker didn’t just shave off a few pennies. The Model Y Long Range had a 20 percent cut from its price tag, dropping from $65,990 to $52,990. The Model 3 had up to 14 percent cut from its price, while the Model S and Model X also saw their prices fall by up to $10,000 and $21,000 depending on the trim. Tesla cut prices to induce demand, and it seems to have worked . Gallery: 2024 Chevrolet Blazer EV 42 Photos … [Read more...] about General Motors Has No Plans To Reduce EV Prices After Tesla And Ford

The former principal of the Virginia elementary school where a 6-year-old shot his teacher was not aware of reports that the student had a gun before the shooting occurred, her lawyer said Thursday. Briana Foster Newton was principal at Richneck Elementary in Newport News last month when first-grade teacher Abby Zwerner was shot and wounded in her classroom. “It continues to be reported that unidentified school administrators were aware that the 6-year-old student had a gun at school on January 6 and simply failed to act,” attorney Pamela Branch said during a news conference in Richmond, Virginia. “Mrs. Newton has been assumed to have been one of those administrators," Branch said. "However, this is far from the truth. The fact of the matter is that those who were aware that the student may have had a gun on the premises that day did not report this to Mrs. Newton at all.” Branch provided the first public statement from Newton since the shooting occurred and sought to … [Read more...] about Lawyer: Principal unaware boy had gun before teacher shot

Deliveries of the Alfa Romeo Tonale aren’t supposed to start in the United States until the second quarter of this year but the crossover is already enjoying very strong demand. So much so that the automaker is reportedly adding a second shift to its Pomigliano factory in Italy where the Tonal is produced. In the same plant, Stellantis also builds the Fiat Panda and the manufacturer is cutting a shift from the production of the small car. Soon, the same assembly line will also become responsible for the Dodge Hornet , which is essentially a rebadged version of the Tonale. The Italian crossover is currently sold in Europe and Japan, and will soon arrive on US shores where it has a starting price of $42,995 for the entry-level Sprint trim. Gallery: 2024 Alfa Romeo Tonale (US Spec) 12 Photos The Pomigliano factory had a strong 34 percent increase in its output last … [Read more...] about Alfa Romeo Tonale Production Increasing To Meet Strong Demand

Valtteri Bottas has followed up his previous comments on the FIA ban of driver statements by saying it is not “necessary” to have such a rule in place. The Alfa Romeo driver became the first within the paddock to speak out against the new FIA regulation which muzzles the drivers from making any kind of statement without the permission of the governing body. Bottas said he was unsure why the FIA sought to “control” the drivers , a poignant point considering all of the statements made last season by drivers were for worthwhile causes such as climate change, equal rights and support for the LGBTQ+ community. The Finn has now followed up on these comments by again expressing his disagreement with the rule and stating that he believed everyone has the right to say what they want. “I think everybody should be allowed to say what they want and support things that they want or have passion [for],” he told Sky Sports . “Because I think people in this world should be free to say … [Read more...] about Valtteri Bottas: Statement ban is not ‘necessary’ but ‘this is Formula 1’

It now seems inevitable that Honda will announce in a few hours’ time that it is going to sell its F1 team or close it . F1 could be left with only nine teams, drivers will be left without seats, and the continued participation of other manufacturers may be in doubt. How will Honda’s departure affect Formula 1? Three-car teams? Formula One Management is understood to be required to bring at least 20 cars to each Grand Prix (there is some doubt over the exact figure – some suggest it could be as little as 16). If no buyer for the Brackley team is found, F1 will have only nine teams with 18 cars. Therefore it may be necessary for some teams to field three cars. This potentially creates all kinds of complications: How would it be decided which teams run three cars? Would all three be eligible for championship points? Are the FIA and FOM able to demand teams run three cars if they have to? The commercial deal that governs F1, the Concorde Agreement, lapsed some time ago. … [Read more...] about How will Honda quitting affect F1? · RaceFans

The world’s economy is still reeling from the traumas of September and October. F1 sponsors give $300m to F1 teams each year – but more and more of those companies are reporting huge profit falls and staff cut backs. Some are even falling back on their national governments for financial support. Could we soon see a major reduction in F1 sponsorship? Here’s a look at how some of the biggest names in F1 sponsorship are faring in the growing global recession. Ferrari AMD – Electronics AMD began to experience problems before the economic downturn, beginning with its $5.4bn purchase of ATI. It has posted a loss for eight consecutive quarters and cut staff , but in October announced $8.4bn of investment from Abu Dhabi . Etihad Airways – Airlines The very high oil prices earlier this year put huge pressure on airlines, forcing 30 to close this year. Those prices have now fallen but reduced demands for passenger seats and cargo continues to squeeze airlines. However … [Read more...] about F1 sponsors hit by global recession · RaceFans

In a tense press conference at the Circuit of Americas, team representatives clashed over how F1’s financial situation has led to the loss of two of their rivals. Here are some of the key points made by both sides of the discussion. Wolff: Marussia and Caterham overspent Mercedes executive director Toto Wolff said Formula One should protect its nine remaining teams but that Marussia and Caterham ran into trouble because they were spending beyond their means. I have an emotional and a pragmatic view. The emotional view is that there is personal drama behind it. There are families who need to pay mortgages, there are kids going to school and these people don’t have any jobs today anymore and that is a drama and it is painful and I am sorry for that. The rational side of things is that we have seen in the past that teams come and go. We have seen great teams who have folded, went into liquidation or administration. Great names: Brabham, Arrows, Ligier, Prost, Larousse, Leyton … [Read more...] about F1 teams clash over costs and revenue sharing – F1 Fanatic

In the round-up: Formula One’s alcohol sponsor says the sport could rival the Champions League football tournament. Links Heineken vows to refresh the profile of Formula One (The Telegraph) "Can we make F1 as big as the Champions League? Honestly, I think so." Vettel would have Ricciardo as teammate again (Motorsport) "I don't mind him, I like him, I think he's a strong guy and obviously he had a good season in 14. Last year and this year it's a bit difficult always to judge because you don't know what's going on internally, but, from what I know, he's a good guy." Fernando Alonso talks McLaren, missed opportunities and life after F1 (ESPN) "When I came back to Renault it was my choice - I had the possibility to go to Red Bull. But Red Bull at that time was an energy drink, it was not a world championship team. No one has a crystal ball!" Heineken announces global partnership with Formula One Management (Heineken) "Heineken will not be visible on … [Read more...] about F1 Fanatic round-up: F1 ‘will rival Champions League’

This is a carousel. Use Next and Previous buttons to navigate 15 LONDON (AP) — The Bank of England announced another “forceful” increase in interest rates Thursday, saying it was too soon to declare victory against inflation that has slowed slightly but is still fueling a cost-of-living crisis, public-sector strikes and fears of recession. The bank raised its key rate by half a percentage point, to 4%, resisting the temptation to follow the U.S. Federal Reserve in easing its response to the crisis. The British central bank has approved four straight increases of a half-point or more since Russia’s invasion of Ukraine triggered sharp rises in food and energy prices. “We have done a lot on rates already … but it is too soon to declare victory just yet,” bank Gov. Andrew Bailey said at a news conference. “Inflationary pressures are still there … and we need to be absolutely sure … [Read more...] about Bank of England rate hike says ‘too soon to declare victory’