Norway has had massive success with EV adoption — 82% of new cars sold in the country in 2023 were electric, according to the Norwegian Road Federation. This high adoption rate can be attributed to the generous subsidies the Scandinavian country has offered to electric vehicle owners as well as its investment in charging infrastructure.… Continue reading How Tesla became the top-selling car company in Norway
Author: CNBC Online news
Tesla settles with Black worker who won two trials over racist discrimination
Workers assemble cars on the line at Tesla’s factory in Fremont. David Butow (Photo by David Butow/Corbis via Getty Images) David Butow | Corbis News | Getty Images Electric vehicle maker Tesla has settled a racist discrimination lawsuit in which a federal jury previously awarded $3.2 million in damages to Owen Diaz, a Black man… Continue reading Tesla settles with Black worker who won two trials over racist discrimination
Nio plans to launch its mass market EV brand in May
Nio holds a product event in Shanghai on Sept. 21, 2023. Evelyn Cheng | CNBC BEIJING — Chinese premium electric car company Nio said Thursday it plans to reveal its mass market brand in May. Executives confirmed the new brand will be named “Le Dao” in Chinese, and said the name is meant to reflect… Continue reading Nio plans to launch its mass market EV brand in May
Yellen touts electric vehicle ‘boom’ as automakers tone down hype
U.S. Treasury Secretary Janet Yellen testifies before a House Financial Services Committee hearing on the “Annual Report of the Financial Stability Oversight Council” on Capitol Hill in Washington, U.S., February 6, 2024. Amanda Andrade-rhoades | Reuters Treasury Secretary Janet Yellen on Wednesday lauded President Joe Biden‘s investment in electric vehicles for accelerating the sector, even… Continue reading Yellen touts electric vehicle ‘boom’ as automakers tone down hype
EV euphoria is dead. Automakers are scaling back or delaying their electric vehicle plans
Although consumer demand for EVs hasn’t shown up in the way executives had expected, sales of the vehicles are still predicted to increase in the years to come. Andrew Merry | Moment | Getty Images DETROIT — The buzz around electric vehicles is wearing off. For years, the automotive industry has been in a state… Continue reading EV euphoria is dead. Automakers are scaling back or delaying their electric vehicle plans
Raimondo says it’s ‘possible’ for Chinese EVs to one day be on U.S. roads
Philippine Department of Trade and Industry Secretary Alfredo Pascual (R) and US Commerce Secretary Gina Raimondo attend a press conference in the Philippines on March 11, 2024. Jam Sta Rosa | Afp | Getty Images Chinese electric cars can one day drive on U.S. roads if there are enough government controls on software and sensors,… Continue reading Raimondo says it’s ‘possible’ for Chinese EVs to one day be on U.S. roads
GM hires ex-Tesla, Google exec to replace retiring head of manufacturing
General Motors Executive Vice President Global Manufacturing and Labor Relations Gerald Johnson (middle) watches as engineers and technicians set-up and test the machines that will be used to manufacture Level 1 face masks at a plant in Warren, Michigan. Photo by John F. Martin for General Motors DETROIT – General Motors’ long-time head of manufacturing… Continue reading GM hires ex-Tesla, Google exec to replace retiring head of manufacturing
Xiaomi is set to launch its electric car on March 28
Chinese consumer electronics company Xiaomi revealed Thurs., Dec. 28, 2023, its long-awaited electric car, but declined to share its price or specific release date. CNBC | Evelyn Cheng BEIJING — Chinese smartphone company Xiaomi announced Tuesday it would formally launch its long-awaited electric car on March 28. The company claimed in a social media post… Continue reading Xiaomi is set to launch its electric car on March 28
Porsche warns of fall in profitability but hikes dividend on strong 2023 results
The Porsche Mission X on display at the IAA Mobility 2023 show in Munich, Germany. Arjun Kharpal | CNBC Porsche on Tuesday warned that profitability will decline this year as it launches new models amid tough economic conditions, but hiked its dividend on the back of a rise in 2023 operating profit. The German luxury… Continue reading Porsche warns of fall in profitability but hikes dividend on strong 2023 results
Paris has hiked parking charges on SUVs. Now cities like London are taking note
A view of the vehicles parked on the street in Paris, France on Nov. 22, 2023. Anadolu | Anadolu | Getty Images Parisians have voted to hike parking fees on large SUVs — and it’s not the only European city to set its sights on heavier, more polluting cars. At a referendum in Paris last… Continue reading Paris has hiked parking charges on SUVs. Now cities like London are taking note