Chinese electric car company Nio launched its lower-cost brand Onvo on Wednesday, May 15, 2024, in Shanghai, China. CNBC | Evelyn Cheng BEIJING — Chinese electric car company Nio plans to expand to the Middle East this year, CEO William Li said on an earnings call Thursday, at a time when rivals have been increasing… Continue reading Chinese electric car company Nio to enter Middle East this year amid global expansion by peers
Author: CNBC Online news
EV slump, Hertz fire sale take used Teslas to ‘no haggle’ $25,000 price
The race to the $25,000 EV in the U.S. car market has been won, but not in the way the auto industry wanted. Since January, Hertz Global Holdings has been in Tesla sales mode, with 20,000 electric vehicles from its global fleet, representing nearly a third of the rental-car company’s existing EV inventory, on the… Continue reading EV slump, Hertz fire sale take used Teslas to ‘no haggle’ $25,000 price
Rivian redesigns all-electric R1 pickup and SUV, adds Nvidia chips and improves performance
2025 Rivian R1S Rivian Rivian Automotive has redesigned its all-electric R1 pickup and SUV models to improve range, performance and computing power with the help of Nvidia chips, the company said Thursday. While the 2025 model-year vehicles do not outwardly look too different than the current models, Rivian said it has changed more than half… Continue reading Rivian redesigns all-electric R1 pickup and SUV, adds Nvidia chips and improves performance
F1’s new regulations suggest car makers are not done with the internal combustion engine yet
Lewis Hamilton of the UK is driving the (44) Mercedes-AMG Petronas F1 Team F1 W15 E Performance Mercedes during the Formula 1 Grand Prix De Monaco in Montecarlo, Monaco, on May 26, 2024. Nurphoto | Nurphoto | Getty Images If you want to see into the future of car making, the Formula One rulebook has… Continue reading F1’s new regulations suggest car makers are not done with the internal combustion engine yet
Here’s why Cramer says Ford stock must be ‘bought aggressively’ on the dip
Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Wednesday’s key moments. The S & P 500 climbed Wednesday after a second round of weak jobs data pushed bond yields lower and gave the market hope for Federal Reserve interest rate cuts… Continue reading Here’s why Cramer says Ford stock must be ‘bought aggressively’ on the dip
New York City’s first-in-the-nation congestion pricing shelved indefinitely
Congestion Pricing Toll Readers are seen here installed on Third Ave. looking North at E. 60th St. Wednesday, Oct. 4, 2023 in Manhattan. (Photo by Barry Williams for NY Daily News via Getty Images) Barry Williams | New York Daily News | Getty Images The MTA is pushing “pause” indefinitely on New York City’s first-in-the-nation congestion… Continue reading New York City’s first-in-the-nation congestion pricing shelved indefinitely
Here’s why privacy advocates say automakers are spying on drivers
Today’s cars have an unprecedented capacity to surveil people inside and around them, and it’s raising alarms with privacy advocates. A growing chorus of advocates and politicians say automakers aren’t doing enough to protect consumer data from companies, criminals or even the government itself. One car owner in Florida filed a lawsuit in March against… Continue reading Here’s why privacy advocates say automakers are spying on drivers
EV concerns overshadow strong Ford sales. Jim Cramer says the stock is down enough
Ford had another month of strong sales, but a wider appeal on Wall Street for the stock depends on cutting the automaker’s massive EV division losses. Ford said Tuesday it sold more than 190,000 vehicles in May, an 11% increase from a year ago. Sales of internal combustion engine (ICE) vehicles — where most of… Continue reading EV concerns overshadow strong Ford sales. Jim Cramer says the stock is down enough
Politics playing a role in electric vehicle adoption: Michigan Gov. Gretchen Whitmer
Gov. Gretchen Whitmer (D-MI) delivers remarks at the SelectUSA Investment Summit in National Harbor, Maryland, on May 4, 2023. Kevin Dietsch | Getty Images The future of the electric vehicle is a critical issue for the U.S. auto industry and its home base of Detroit, Michigan. It’s also increasingly becoming a political issue, according to… Continue reading Politics playing a role in electric vehicle adoption: Michigan Gov. Gretchen Whitmer
Ford EV and hybrid sales surge 65% in May
The Mustang Mach-E on display at the New York International Auto Show on March 28, 2024. Danielle DeVries | CNBC DETROIT – Ford Motor’s U.S. new vehicle sales rose 11.2% last month compared with May of last year, boosted by strong sales growth for all-electric and hybrid models. The Detroit automaker on Tuesday reported roughly… Continue reading Ford EV and hybrid sales surge 65% in May