TrueCar to sell ALG to J.D. Power for $135 million

Municipalities are seeing a shift in public behavior and attitudes toward mass transit and electrification due to the pandemic.

The Toyota-affiliated supplier said the center plans to partner with local universities and companies for its research.

CEO Fred Lissalde, in a better-than-expected quarterly report, said BorgWarner will be building integrated drive modules for Ford's all-electric Mustang Mach-E crossover.

The company, which includes the ADESA wholesale auction unit, looks very different now from when it began the second quarter.

The partnership will include supplying cells and battery systems as well as combining research. CATL will supply batteries for the Mercedes EQS luxury sedan, which Daimler says will have more than 430 miles of range.

Between June and July, new-vehicle purchase intent in the U.S. declined 4 percent while used-vehicle intent rose 2 percent, according to a survey by McKinsey & Co. on how consumers are responding to COVID-19.

After going public in June, Nikola posted a quarterly loss of $86.6 million. Founder Trevor Milton disputed some analysts' assertions that the company, which has not yet brought a product to market, fell short of expectations. 

The supplier said it is bundling its Car Powertrain and E-Mobility units into one division to "further accelerate the transformation to plug-in hybrids and electric drives." 

The supplier said it could not give detailed financial guidance for the rest of 2020, but said global auto production could fall 10 percent to 20 percent in the third quarter.

Honda reported a quarterly operating loss as the pandemic spread to its key U.S. market, but the Japanese automaker still predicts a full-year profit. Honda's North American business booked an operating loss of 77.8 billion yen ($724.5 million) in the period.