Elon Musk, the chief executive of Tesla, disclosed on Wednesday that he had sold about $5 billion worth of Tesla shares, in part to cover his tax obligations after exercising options on a large tranche of stock. Mr. Musk sold about 4.5 million shares between Monday and Wednesday, according to filings with the Securities and… Continue reading Elon Musk Sells $5 Billion in Tesla Stock
Author: New York Times Online News
Looking for a Way to Soup Up Your Car? Go Electric.
When G.M.’s e-crate is released, it will be part of a complete implementation package including batteries and a computer management system. According to Mr. O’Blenes, the company feels this is the best way to ensure modifications are done safely. Ford’s e-crate, released earlier this month, is the motor only; buyers must acquire, design and install… Continue reading Looking for a Way to Soup Up Your Car? Go Electric.
A New Mercedes SL Stresses Horsepower and Verve
Under the long hood is a sophisticated and potent engine. The small cabin is just right for two adults. The tapering trunk is roomy enough to carry golf clubs, or the accouterments for a long weekend in Monaco or Montecito. A convertible top completes the package. This formula dates to 1954 for the Mercedes SL,… Continue reading A New Mercedes SL Stresses Horsepower and Verve
Rivian, the Electric-Truck Maker, Closes with a Big Gain After Its I.P.O.
Charging remains a challenge for all companies introducing electric vehicles. While stations are available in many urban centers, their numbers are fewer in suburbs and many less densely populated areas have no charging infrastructure. That could be a particular issue for Rivian since it expects owners to take its vehicles out into the wilderness where… Continue reading Rivian, the Electric-Truck Maker, Closes with a Big Gain After Its I.P.O.
Chip Shortage Creates New Power Players
SAN FRANCISCO — Since 1989, Microchip Technology has operated in an unglamorous backwater of the electronics industry, making chips called microcontrollers that add computing power to cars, industrial equipment and many other products. Now a global chip shortage has elevated the company’s profile. Demand for Microchip’s products is running more than 50 percent higher than… Continue reading Chip Shortage Creates New Power Players
Volkswagen’s Herbert Diess to Remain C.E.O., With Less Control
BERLIN — Volkswagen’s chief executive, Herbert Diess, won fresh backing from the automaker’s supervisory board on Thursday, but his responsibilities will be pared as the company seeks to win back investor confidence lost in recent weeks during a dispute about his leadership style. As part of a compromise deal reached with Mr. Diess, 63, more… Continue reading Volkswagen’s Herbert Diess to Remain C.E.O., With Less Control
Rivian’s Electric Truck Is a Cutie and a Beast
The redoubtable Rivian R1T, the first crusher in a coming wave of electric pickup trucks, can soar unscathed over gnarly boulders, hitch an 11,000-pound load and scorch 60 m.p.h. in about 3.5 seconds. The truck brings everything and the kitchen sink, with outdoorsy options such as a rooftop tent and a track-mounted Camp Kitchen, which… Continue reading Rivian’s Electric Truck Is a Cutie and a Beast
Rivian will start trading today after an I.P.O. valuing it at nearly $70 billion.
Rivian, a maker of electric trucks and vans, is going public at a stock price that values the company at nearly $70 billion, a remarkable number that highlights the belief on Wall Street that the fast-growing electric vehicle market is still a wide-open field. In a securities filing on Tuesday, Rivian said it was selling… Continue reading Rivian will start trading today after an I.P.O. valuing it at nearly $70 billion.
Ford’s profit declines as automakers deal with supply-chain troubles.
Ford Motor reported $1.8 billion in profit for the three months that ended in September, a decline of $600 million from a year earlier that the company attributed mainly to the global shortage of computer chips. Revenue fell about 5 percent, to $35.7 billion, the automaker said Wednesday. In the same period a year ago,… Continue reading Ford’s profit declines as automakers deal with supply-chain troubles.
General Motors’ Third-Quarter Profit Hit Hard by Chip Shortage
Two big Detroit automakers said Wednesday that the worldwide shortage of computer chips had weighed on their third-quarter earnings, but there were signs that the worst of the disruption was behind them. Of the two, Ford Motor fared better. Its revenue fell about 5 percent from a year earlier, to $35.7 billion, while General Motors’… Continue reading General Motors’ Third-Quarter Profit Hit Hard by Chip Shortage