Fair faces uphill battle to restructure

Fair Financial Corp.’s quest to disrupt car ownership with subscriptions has ended after five years. The company now is considering bankruptcy to eliminate debt tied to the inventory needed for that vision. Fair’s next act will be as a vehicle retailing platform, CEO Brad Stewart announced last month, complete with a new name — Fair …

Fair faces uphill battle to restructure

Fair Financial Corp.’s quest to disrupt car ownership with subscriptions has ended after five years. The company now is considering bankruptcy to eliminate debt tied to the inventory needed for that vision. Fair’s next act will be as a vehicle retailing platform, CEO Brad Stewart announced last month, complete with a new name — Fair …

Rivian gets U.S. regulatory approval to deliver EVs to customers, production ramps up

Rivian Automotive Inc., the electric vehicle maker backed by Amazon.com Inc. and Ford Motor Co., says it has received full regulatory certifications and can start delivering its debut electric vehicle to U.S. customers. “Rivian vehicles are fully certified by NHTSA, EPA and CARB, and are ready for sale in all 50 states,” a Rivian spokesperson …

GM makes $50 million commitment to Detroit for education, jobs, neighborhoods

DETROIT — General Motors has made a $50 million commitment to expand access to education and employment opportunities for Detroiters and strengthen the city’s neighborhoods. In a statement Tuesday, GM said it is launching the initiative in collaboration with the city of Detroit. GM Chair and CEO Mary Barra and Detroit Mayor Mike Duggan were …

UAW strikes key Stellantis supplier in Michigan

Employees at global supplier ZF Friedrichshafen’s plant in Marysville, Mich., went on strike Thursday after the UAW said the company backed out of an agreement to recognize the employees’ intentions to join the union. ZF disagreed, saying it did not renege on what is known as a neutrality agreement. Production is continuing at the plant, …