March 1 (Reuters) – Electric vehicle firm Faraday Future Intelligent Electric Inc (FFIE.O) said on Tuesday it appointed Becky Roof as interim chief financial officer.

Roof, who serves as managing director with consulting firm AlixPartners, will be replacing Walter McBride, who stepped down due to health reasons, the company said in a statement. McBride was appointed as CFO in November.

California-based Faraday Future also said that AlixPartners has been appointed to accelerate implementation of ‘Special Committee Recommendations’. EV startup Lordstown had announced a similar move following the exit of its CEO and CFO in June 2021.

Continue reading “EV firm Faraday Future appoints AlixPartners’ Becky Roof as interim CFO”

March 2 (Reuters) – Australia’s Core Lithium Ltd (CXO.AX) on Wednesday entered into an agreement with Tesla Inc (TSLA.O) to supply the U.S. electric car maker with lithium spodumene, sending its shares up 13% in early trading.

The deal reflects surging demand for battery metals such as lithium, nickel and cobalt due to the exponential rise in electric vehicle (EV) sales, as the world shifts towards a more sustainable future.

Continue reading “Australia’s Core Lithium enters into supply deal with Tesla, shares jump”

March 1 (Reuters) – General Motors Co (GM.N)said on Tuesday it sold its stake in electric vehicle startup Lordstown Motors Corp (RIDE.O).

GM spokesman Jim Cain said the Detroit automaker sold its 7.5 million shares in a series of sales into the market in the fourth quarter but the proceeds were not material to GM’s financial results.

GM declined to disclose the total proceeds it received.

Continue reading “GM sells stake in EV startup Lordstown Motors”

WASHINGTON, March 1 (Reuters) – U.S. Trade Representative Katherine Tai and Labor Secretary Marty Walsh on Tuesday lauded Mexico’s efforts to assure a “fair and safe” union vote at the Tridonex auto parts plant, and said they would continue to press Mexico to advance labor rights.

Tai said the U.S. would monitor Mexico’s certification of Monday’s vote, which came after a settlement reached with Tridonex following a U.S. complaint filed under a labor enforcement mechanism in the U.S.-Mexico-Canada trade agreement.

FRANKFURT, March 1 (Reuters) – The German carmaker BMW said on Tuesday it had halted the export of cars to Russia and would stop production on the ground there.

The company also said it expected production would be interrupted because of supply bottlenecks.

“Due to the current geopolitical situation, we are discontinuing our local production in Russia and export to the Russian market,” BMW said in a statement.

WASHINGTON, March 1 (Reuters) – U.S.-based United Parcel Service Inc (UPS.N) said Tuesday it has halted overflights of Russia as the White House continues to debate whether to close U.S. airspace to Russia.

A UPS spokesman said the company has “put contingency plans in place to continue serving customers, while not flying in restricted areas. That includes not overflying Russia.” American Airlines and Delta Air Lines (DAL.N) both said Monday they have halted overflights of Russia as well.

MOSCOW, March 1 (Reuters) – Hyundai Motor Co (005380.KS) will suspend its car assembly plant in Russia’s St Petersburg on March 1-5 due to supply chain interruptions, Interfax newsagency reported on Tuesday, citing a company official for the South Korean company in Russia.