Andrew J. Hawkins

Negotiations with an unnamed automaker (most likely Nissan) about a possible investment have collapsed. Trading has been halted on the company’s stock, but not before the share price plummeted 30 percent. Production on the Fisker Ocean is paused for six weeks to allow the company to raise $150 million by selling convertible notes.

The automaker was caught by the New York Times providing micro-details about its customers driving habits, including acceleration, braking, and trip length, to insurance companies. Clueless vehicle owners were then left wondering why their insurance premiums were going up. But now GM tells the Times it’s going to stop.

The Department of Transportation announced the “first industry-wide” review of the ten largest airlines to insure passengers’ sensitive personal information is not “improperly monetized” or shared with third-party data brokers.

Massachusetts Senator Elizabeth Warren (D) would like the Securities and Exchange Commission to investigate Tesla over the lack of independence of its board of directors from Elon Musk, according to the Wall Street Journal. Tesla’s board, which includes Musk’s brother and a number of the billionaire’s friends, poses a potential conflict of interest, that could harm shareholders, Warren alleges. The SEC, which has investigated Tesla more times than I can remember, declined to comment on its response to Warren.

The automaker (parent company to Jeep and Dodge) announced a purchase of 8.3 million shares in eVTOL company Archer, in a deal roughly worth over $39 million. Stellantis already has a deal to manufacture Archer’s electric vertical takeoff and landing aircraft, which are set to launch in 2025. Today’s open market stock purchase is meant to signal “Stellantis’ continued confidence in Archer’s plans” to bring its aircraft to market. Despite numerous layoffs, trade secret disputes, and company shutdowns, the eVTOL true believers are still racing to get something in the air to prove all this cash burn has been worth it.