Car key for the Ferrari Purosangue SUV. Adam Jeffery | CNBC Luxury sports car manufacturer Ferrari topped Wall Street’s top- and bottom-line earnings expectations for the fourth quarter to finish off a record year of profits. The automaker reported a net profit of 1.26 billion euros, or $1.36 billion, for 2023, including 294 million euros,… Continue reading Ferrari finishes a record year by topping Wall Street’s estimates
Author: CNBC Online news
Tesla upgrades Model Y in China as BYD competition heats up
A Tesla Model Y is seen on a Tesla car lot in Austin, Texas, on May 31, 2023. Brandon Bell | Getty Images Tesla upgraded the self-driving hardware on the Model Y car it sells in China, Elon Musk’s automaker said on WeChat on Thursday, as it looks to boost sales and fend off rising… Continue reading Tesla upgrades Model Y in China as BYD competition heats up
Volvo shares jump 26% on higher sales, plans to stop Polestar funding
A Volvo C40 Recharge electric SUV is on display during the Volvo “A New Era of Volvo Cars” press conference at The Shilla Seoul on March 14, 2023 in Seoul, South Korea. Han Myung-gu | Wireimage | Getty Images Volvo Cars shares surged more than 26% on Thursday after the Swedish automaker announced it will… Continue reading Volvo shares jump 26% on higher sales, plans to stop Polestar funding
Elon Musk says Tesla will hold a shareholder vote to incorporate in Texas after Delaware pay snub
SpaceX, X (formerly known as Twitter), and Tesla CEO Elon Musk speaks during live interview with Ben Shapiro at the symposium on fighting antisemitism on January 22, 2024 in Krakow, Poland. Omar Marques | Getty Images Elon Musk said late Wednesday that Tesla will hold a shareholder vote on whether to transfer the electric car… Continue reading Elon Musk says Tesla will hold a shareholder vote to incorporate in Texas after Delaware pay snub
Tesla sued by 25 California counties over hazardous waste handling
An aerial view of the Tesla Fremont Factory on May 13, 2020 in Fremont, California. Justin Sullivan | Getty Images Electric vehicle maker Tesla was sued by district attorneys representing 25 counties in California over the company’s alleged improper handling of hazardous waste materials at facilities throughout the state. Although Tesla is now headquartered in… Continue reading Tesla sued by 25 California counties over hazardous waste handling
Volkswagen sets up its own AI lab as car industry looks to embrace the tech
Volkswagen, like other car giants, are pushing heavily into AI to boost their technology credentials and make their cars smarter. Ismail Aslandag | Anadolu via Getty Images German automaker Volkswagen has established its own artificial intelligence lab, the company said Wednesday, reflecting growing ambitions from the car industry to adopt the buzzy technology. In a… Continue reading Volkswagen sets up its own AI lab as car industry looks to embrace the tech
China comes just shy of Japan as the world’s largest car exporter
LIANYUNGANG, CHINA – JANUARY 17, 2024 – A large number of cars are ready to be shipped for export at the port of Lianyungang, Jiangsu province, China, January 17, 2024. (Photo credit should read CFOTO/Future Publishing via Getty Images) Future Publishing | Future Publishing | Getty Images BEIJING — China failed to replace Japan as… Continue reading China comes just shy of Japan as the world’s largest car exporter
Highlights of Tesla CEO Elon Musk’s court ruling: Mars, Frankenstein, a self-driving car pun
Elon Musk, chief executive officer of Tesla Inc., during a fireside discussion on artificial intelligence risks with Rishi Sunak, UK prime minister, not pictured, in London, UK, on Thursday, Nov. 2, 2023. Tolga Akmen | Bloomberg | Getty Images The bombshell, 200-page Delaware court ruling Tuesday ordering Tesla to undo its massive $56 billion compensation… Continue reading Highlights of Tesla CEO Elon Musk’s court ruling: Mars, Frankenstein, a self-driving car pun
Elon Musk’s $56 billion Tesla compensation voided by judge, shares slide
Elon Musk, CEO of Tesla, speaks during the annual New York Times DealBook Summit in New York City on Nov. 29, 2023. Michael M. Santiago | Getty Images A Delaware judge on Tuesday voided the $56 billion pay package of Tesla CEO Elon Musk, ruling that the company’s board of directors failed to prove “that… Continue reading Elon Musk’s $56 billion Tesla compensation voided by judge, shares slide
GM to release plug-in hybrid vehicles, backtracking on product plans
General Motors reveals the new 2016 Chevrolet Volt to the media at the 2015 North American International Auto Show on January 12, 2015 in Detroit, Michigan. Getty Images DETROIT – General Motors is changing its product lineup strategy to include plug-in hybrid electric vehicles, CEO Mary Barra told investors Tuesday. Barra did not disclose specific… Continue reading GM to release plug-in hybrid vehicles, backtracking on product plans