Michael Wayland

Key Points Lamborghini CEO Stephan Winkelmann told CNBC the automaker's decision to kill its all-electric vehicle plans to focus on plug-in hybrid electric vehicles was “the right way to go” for his company.

Key Points A House bill aimed at blocking Chinese-linked automakers could result in a U.S. ban of new Mercedes-Benz vehicles.

Nearly 1,000 workers at a Michigan supplier plant that makes parts for GM pickup trucks went on strike Monday after not reaching a new contract deal. The United Auto Workers union on Monday confirmed that workers at an axle and components plant in Three Rivers, Michigan, for Dauch Corp. — formerly known as American Axle and Manufacturing — are on strike.

Rivian CEO RJ Scaringe said he believes the vehicle will compete with Tesla but also legacy mainstream automotive brands such as Jeep and Subaru.

GM is expanding efforts to capitalize on the expected growth of energy storage and data centers and the development of next-generation sodium-ion batteries.

Key Points Rivian CEO RJ Scaringe started a robotics company last year called Mind Robotics that he says has has raised more than $1 billion.

Key Points Carvana, known for dominating used car sales in the U.S., has bought seven new vehicle franchises since last year that primarily sell Stellantis' Chrysler, Dodge, Jeep and Ram brands.

Rivian said Tuesday it was laying off hundreds of workers, or less than 2% of its workforce.

Instead, the online vehicle retailer said it intends to use such franchised dealerships as service locations, test drive centers and

Despite the beats, questions remain about the company's ability to grow and cut costs under the plan amid tougher market conditions, including margin pressure.