Day: February 17, 2021

Ford Vows to Phase Out Gas Cars in Europe by 2030

BERLIN— Ford Motor Co. said it would invest $1 billion in a German factory as part of a plan to phase out gas-powered cars in Europe by 2030, the latest auto maker to embrace a shift to electric vehicles.

Ford said Wednesday that it will convert its plant in Cologne to produce electrics, including the company’s first European-built all-electric passenger car in 2023. By 2030, electric vehicles should account for all its passenger-car sales in Europe, along with two-thirds of its commercial vans and trucks, the company said.

Most of the car industry’s well-known brands have dramatically increased investment into electric vehicles as the broader automotive industry begins in earnest to phase out traditional engines and shift almost entirely to electric vehicles and hybrids over the next decade.

“Our announcement today to transform our Cologne facility… is one of the most significant Ford has made in over a generation.

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Carvana And Vroom Are Still Tiny Compared To Dealerships

I had hoped that the billion-dollar startups of online car sales like Carvana and Vroom would utterly quash megamall car dealerships forever. In fact, the big brick-and-mortar dealers seem to be surviving just fine.

This popped up on my radar from a somewhat troubling Automotive News headline declaring that startups were displacing small car dealerships, taking out the little guys while the most bloated big lots weathered the storm. “Smallest dealers pressed as online startups reshape used market,” Automotive News declares, citing a JP Morgan analyst:

“A lot of smaller independent used retailers, or independent franchise dealers, they are the ones that are likely to suffer the most because they don’t have the capital or the relationships or the bandwidth to invest in the move towards digital,” said Rajat Gupta, auto retail analyst with J.P. Morgan.

Certainly, this sounds like a potential problem for independent dealers in the

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She won $188M Powerball. Now her ex-fiance is suing her from prison, NC lawsuit says

Marie Holmes was 26 years old and working five jobs to support her children when she won the $188 million Powerball jackpot in 2015 — the largest jackpot winnings in North Carolina history at the time.

She had big plans for the money, which totaled $87.9 million after taxes, according to the N.C. Education Lottery. Holmes told lottery officials she planned to give some of the prize money to charities and religious organizations, as well as put it toward finishing her college degree and buying her mother a house.

But according to her ex-fiance Lamarr Andre McDow, the winnings also went to generous gifts for him that she allegedly gave away or sold after they split up.

Now he’s suing to get them back.

McDow, 36, accused Holmes of breaching her fiduciary duty when she reportedly gave away his 77-acre dirt bike track, his car repair shop and tens

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