A Cruise vehicle in San Francisco on Feb. 2, 2022. David Paul Morris | Bloomberg | Getty Images DETROIT – General Motors’ Cruise autonomous vehicle unit on Tuesday announced former Amazon and Microsoft executive Marc Whitten as its new CEO. Whitten was a founding engineer at Microsoft’s Xbox before leaving the company after more than… Continue reading GM’s Cruise names former Amazon, Microsoft Xbox executive as new CEO
Author: CNBC Online news
Rivian secures up to $5 billion from Volkswagen, shares soar 40%
Workers assemble second-generation R1 vehicles at electric automaker Rivian’s manufacturing facility in Normal, Illinois, on June 21, 2024. Joel Angel Juarez | Reuters Volkswagen plans to invest up to $5 billion in electric vehicle startup Rivian, starting with an initial investment of $1 billion. The additional $4 billion is expected by 2026. It includes plans… Continue reading Rivian secures up to $5 billion from Volkswagen, shares soar 40%
U.S. auto sales are expected to slow during the second half of 2024
Cars sit on a Chevrolet dealership’s lot on June 20, 2024 in Chicago, Illinois. A cyber attack on CDK Global, a software provider that helps dealerships manage sales and service, has crippled the workflow at approximately 15,000 dealerships across the United States and Canada. Scott Olson | Getty Images DETROIT — U.S. auto sales through… Continue reading U.S. auto sales are expected to slow during the second half of 2024
Tesla recalls Cybertruck to fix faulty windshield wipers, loose trim
The Tesla Cybertruck is unveiled at Tesla’s design studio on Nov. 21, 2019, in Hawthorne, Calif. Ringo H.W. Chiu | AP Tesla has issued two more recalls for its Cybertruck pickups in the U.S., as the automaker continues to face challenges with its newest electric vehicle about six months after beginning deliveries. The latest recalls… Continue reading Tesla recalls Cybertruck to fix faulty windshield wipers, loose trim
VW updates 2025 Jetta to boost sales of the brand’s entry-level car
2025 Volkswagen Jetta VW Volkswagen on Tuesday announced updates for its 2025 Jetta sedan to boost sales amid industry-wide affordability concerns. The entry-level version of the Jetta with an automatic transmission will start at $21,995 when it goes on sale, expected by the end of the third quarter, the company said. That model will replace… Continue reading VW updates 2025 Jetta to boost sales of the brand’s entry-level car
Ferrari CEO says all-electric model preserves the ’emotion’ of the famed supercars
watch now Ferrari’s all-electric model won’t be launched for over a year, but early tests indicate it has all the driving traits and emotion of a true Ferrari, according to Ferrari CEO Benedetto Vigna. “The final judge will be the client,” Vigna told CNBC during the opening of the company’s new E-Building in Maranello, Italy.… Continue reading Ferrari CEO says all-electric model preserves the ’emotion’ of the famed supercars
China wants EU to scrap planned higher tariffs and ‘abide by WTO rules,’ state media reports
GUANGZHOU, CHINA – NOVEMBER 17: A GAC Aion Hyper SSR electric sports car is on display during the Auto Guangzhou 2023 at China Import & Export Fair Pazhou Complex on November 17, 2023 in Guangzhou, Guangdong Province of China. (Photo by Chen Yihang/VCG via Getty Images) Vcg | Visual China Group | Getty Images China… Continue reading China wants EU to scrap planned higher tariffs and ‘abide by WTO rules,’ state media reports
Tesla has downsized by at least 14% this year after Elon Musk said layoffs would exceed 10%
Chief Technology Officer of X Elon Musk speaks onstage during the “Exploring the New Frontiers of Innovation: Mark Read in Conversation with Elon Musk” session at the Lumiere Theatre during the Cannes Lions International Festival Of Creativity 2024 – Day Three on June 19, 2024 in Cannes, France. Richard Bord | Wireimage | Getty Images… Continue reading Tesla has downsized by at least 14% this year after Elon Musk said layoffs would exceed 10%
China has spent at least $230 billion to build its EV industry, new study finds
Workers assemble a Wuling Hongguang Mini EV, an all-electric microcar manufactured by SAIC-GM-Wuling, at a plant of the joint automaker in Qingdao in east Chinas Shandong province Tuesday, Nov. 30, 2021. Future Publishing | Future Publishing | Getty Images BEIJING — China spent $230.8 billion over more than a decade to develop its electric car… Continue reading China has spent at least $230 billion to build its EV industry, new study finds
Startup Kinetic rolls out robots to fix electric cars, and someday robotaxis
Kinetic cofounders: CEO Nikhil Naikal, CTO Sander Marques, COO Chris Weber Courtesy: Kinetic Automation While electric vehicle demand is still increasing in the U.S., the sales growth rate for cars that pollute less has cooled down in 2024 due partly to the high cost of insurance and repairs for tech-laden new models. A 2024 study… Continue reading Startup Kinetic rolls out robots to fix electric cars, and someday robotaxis