Vanguard Goes Big on Crypto, Thanks to the Index-Fund Boom It Unleashed
Vanguard Group Inc. executives, channeling the logic of the venerable Jack Bogle, have made their opinions on crypto clear. Yet thanks to the cold logic of index investing, the $10 trillion money-management giant is now the biggest backer of Strategy, the software firm that famously reinvented itself as a proxy for Bitcoin and became a poster child for the industry's ambitions.
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Motor Trend
4 minutes ago
- Motor Trend
GM's Tennessee Plant to Start Churning Out Cheaper EV Batteries Soon
For current electric vehicle buyers, the news of the federal EV tax credits disappearing before the end of the year is probably spurring a second look at their budgets. Can they still swing that entry-level EV without a $7,500 tax break? For those looking at GM products, at least, there might be some good news on the horizon. Thanks to an investment into its Spring Hill, Tennessee battery plant, GM's Ultium battery packs might get a cheaper cell design soon—and since the battery is one of the most expensive components in an EV, any cost reduction there directly translates to savings on the car's MSRP. Same goes for the location of that battery plant. Cells built in the U.S. can mitigate today's tariff costs. GM's Tennessee plant will produce cheaper LFP battery cells by 2027, reducing EV costs as federal tax credits phase out. LFP cells are less costly due to abundant materials but have lower energy density. The move aims to offset tariffs and make entry-level EVs more affordable. This summary was generated by AI using content from this MotorTrend article Read Next Utilizing its joint venture with LG Energy Solution and its $2.3 billion investment, GM will expand the Ultium Spring Hill, Tennessee battery production plant in order to produce new lithium iron phosphate (LFP) battery cells. Commercial production volumes are expected to start in late 2027. Currently—no pun intended—Ultium cells built at the Warren, Ohio, and Spring Hill, Tennessee, plants utilize nickel manganese cobalt (NMC) aluminum chemistry. While powerful and well developed, NMC batteries come with inherent problems stemming from sourcing cobalt and the cost of nickel raw materials. Both issues create a battery cell that is quite expensive, even as overall production scale continues to drive costs down. Those who know battery chemistries know that there is a better alternative already in reality (unlike some solid-state battery chemistries that border on fantasy): LFP. While not a solid-state battery, LFP has many advantages, namely its lower material costs. Both iron and phosphate raw materials can dip into cents per pound while something like nickel is dollars per pound and cobalt can reach the tens of dollars per pound. The drawback of LFP is mainly its energy density and its performance. LFP batteries don't hold quite as much energy as an NMC battery and can be slower to both charge and discharge on demand. Density is easy to improve by just making a bigger battery cell, but that does mean it will weigh more. Despite those issues, the carrot of lower materials cost is just too good to pass up, especially for lower-priced EVs that tend to skip out on ultra-fast charging and mega range anyhow. But just how much cheaper could a GM vehicle using LFP batteries be? We asked GM for those details but it wasn't able to respond to our questions in time for publication. Once it gives us those details, we'll update this story with some ideas.
Motor 1
5 minutes ago
- Motor 1
Porsche Hikes Prices Again Due to 'Market Conditions'
A Porsche being expensive is not news. These cars always have been, and always will be. But, recently, the automaker implemented price increases across its entire lineup, citing "market conditions." Initially brought to our attention by Road & Track , Porsche has since confirmed these price increases. "With our customers front of mind, we keep a regular watch on market conditions, absorbing costs where we can and making adjustments only when it's absolutely necessary to do so," a spokesperson said in a statement. "Where possible, we have taken steps to support our customers, but market conditions necessitate incremental adjustments to MSRP. The price adjustment encompasses all models and varies from model to model, from between 2.3 and 3.6 percent." Here are the previous and current prices for each Porsche base model. Model New Price Previous Price Increase 2025 718 Cayman $77,395 $74,795 3.5% 2026 911 Carrera $134,650 $129,950 3.6% 2026 Cayenne $91,950 $88,795 3.6% 2026 Macan $66,950 $65,350 2.4% 2026 Panamera $112,450 $108,550 3.6% 2026 Taycan $106,250 $102,550 3.6% Porsche also tells us, "market conditions necessitate incremental adjustments to individual option pricing and delivery fees from time to time." So, depending on what options your car has, the new price may be more than 3.6 percent higher than it was a few months ago. Porsche didn't blame tariffs specifically here, but it's one of a handful of volume automakers that doesn't make cars in the US. The company builds all its cars in Germany, except for the Cayenne, which is made in Slovakia, and in very small numbers in Malaysia for that market only. The Trump administration put a 25-percent tariff on imported automobiles and automobile parts in place back in April, on top of a preexisiting 2.5% import duty. Trump on Saturday threatened a 30-percent tariff on all goods from the EU . This, of course, would apply to all Porsche cars. Earlier this year, we reported that Porsche is considering starting US production . Obviously, its customers have long been used to paying premium prices for their cars, and while a 3.6 percent increase might not be a huge deal for 911, Taycan, and Panamera buyers, it could be an impediment to customers of less expensive, larger-volume models like the Cayenne and Macan. Porsche is in a precarious situation right now. Its sales are down globally—especially in China, where buyers are rejecting non-domestic automakers—and customer response to EVs like the Taycan and Macan Electric is less enthusiastic than the automaker hoped. US sales have remained strong, but buyers here aren't adopting EVs as quickly as everyone (including Porsche) thought they would, and tariffs are complicating everything. It just illustrates the rewriting of the automotive order. Up until recently, Porsche was the envy of the auto industry, wildly profitable and beloved by so many. That's still true today, but the picture is not as rosy in Stuttgart as it once was. More on Porsche Porsche: New Cayenne 'Will Shape the Future of Electric Driving' The Electric Porsche Macan Is Outselling the Gas Model. But There's More to the Story Get the best news, reviews, columns, and more delivered straight to your inbox, daily. back Sign up For more information, read our Privacy Policy and Terms of Use . Share this Story Facebook X LinkedIn Flipboard Reddit WhatsApp E-Mail Got a tip for us? Email: tips@ Join the conversation ( )
Yahoo
5 minutes ago
- Yahoo
Thailand Mulls Zero Duty for More US Goods to Win Tariff Deal
(Bloomberg) -- Thailand is weighing allowing zero-duty market access for more US goods to help persuade the Trump administration to lower a threatened 36% tariff on its exports. Why Did Cars Get So Hard to See Out Of? How German Cities Are Rethinking Women's Safety — With Taxis Philadelphia Reaches Pact With Workers to End Garbage Strike Advocates Fear US Agents Are Using 'Wellness Checks' on Children as a Prelude to Arrests Thailand, which has previously cut tariffs on imports of longan and tilapia fish from other countries, could lower the levy for the US on those goods to zero, Finance Minister Pichai Chunahavajira said. The government may also amend existing regulations to allow left-hand drive vehicles from the US and eliminate taxes on goods already included in free-trade agreements with other countries, he said. The US is pushing for 'ambitious proposals,' the minister told a trade seminar in Bangkok Monday, without elaborating. The two sides remain engaged in ongoing dialogue to reach a deal, he said. Thai officials are optimistic about finalizing an agreement before the Aug. 1 deadline set by President Donald Trump. Thailand has pledged to eliminate import duties on 90% of US goods and to remove various non-tariff barriers. The government has also offered to increase purchases of US agricultural and energy products in a bid to reduce its trade surplus, which stood at $46 billion last year. The US was Thailand's largest export destination in 2024, accounting for approximately 18% of total shipments. Thai exports have increased by about 15% in the first five months of this year, driven by accelerated orders ahead of the anticipated tariff implementation. Some of the US demands in trade talks go beyond tariff and non-tariff reductions and cover geopolitical issues, Pichai told a trade seminar in Bangkok Monday. Conceding to such demands may spark domestic unrest, he said, adding that any agreement with the US must be mutually beneficial and sustainable for Thailand in the long term. US demands regarding local content requirements are unlikely to have a major impact as Thailand's exports are mostly from older industries with high domestic inputs, Pichai said. The US has threatened higher tariffs on countries suspected of rerouting Chinese goods to avoid the trade war. Trump recently announced a deal with Vietnam that includes a 20% tariff on exports and a 40% rate on products considered to be transshipped. Thailand is among several countries that have received tariff warning letters from the Trump administration and is now racing to finalize a deal to avoid steep levies. Failure to secure reduced tariffs from its largest export market could lead to a sharp decline in shipments and shave up to one percentage point off the nation's projected economic growth. 'Our Goal Is to Get Their Money': Inside a Firm Charged With Scamming Writers for Millions Trump's Cuts Are Making Federal Data Disappear Trade War? No Problem—If You Run a Trade School Thailand's Changing Cannabis Rules Leave Farmers in a Tough Spot Will Trade War Make South India the Next Manufacturing Hub? ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
