A 2024 Chevrolet Silverado EV RST all-electric pickup truck on display at the International Auto Show at the Jacob Javits Convention Center in New York on April 13, 2022. China News Service | China News Service | Getty Images Car shoppers are paying more than ever to finance new vehicles — and pickup trucks are… Continue reading Truck purchases are driving up the average cost of car payments. Some buyers pay over $1,000 a month
Author: CNBC Online news
Malaysia eyes more investments to enlarge EV footprint after landmark Tesla deal
watch now Malaysia has set its sights on a larger part of the electric vehicle supply chain business as competition in Southeast Asia heats up, following Tesla‘s announcement of a regional headquarters in Malaysia. “EV happens to be our priority,” Malaysia’s Prime Minister Anwar Ibrahim told CNBC’s Martin Soong in an exclusive interview Friday at the prime… Continue reading Malaysia eyes more investments to enlarge EV footprint after landmark Tesla deal
Tesla engineering executive Colin Campbell joins Redwood Materials as technology chief
Pallets of depleted lithium-ion batteries at JB Straubel’s Redwood Materials are ready for recycling. Source: CNBC Redwood Materials, the battery-recycling startup founded by Tesla board member JB Straubel, recently nabbed Tesla’s vice president of powertrain engineering, Colin Campbell, to serve as chief technology officer. Based in Carson City, Nevada, Redwood was founded by Straubel in… Continue reading Tesla engineering executive Colin Campbell joins Redwood Materials as technology chief
Ferrari CEO says nearly a third of new buyers are under 40, even as wait lists grow
watch now Despite a waiting list of three years for some of its cars, Ferrari’s CEO said the company has no plans to supercharge production to meet demand. “We are a brand that is not looking for volume,” Ferrari CEO Benedetto Vigna told CNBC in an exclusive interview from Pebble Beach. “We are a brand… Continue reading Ferrari CEO says nearly a third of new buyers are under 40, even as wait lists grow
Chinese EV maker Xpeng expects cost cuts, Volkswagen deal to narrow losses
A XPeng Inc. G6 electric sport utility vehicle (SUV). Qilai Shen | Bloomberg | Getty Images Xpeng expects cost cuts and its Volkswagen partnership to narrow the firm’s losses, the Chinese EV maker told CNBC in an exclusive interview on Monday. On Friday, the firm logged its biggest quarterly loss since its U.S. listing in… Continue reading Chinese EV maker Xpeng expects cost cuts, Volkswagen deal to narrow losses
Automaker Stellantis has discussed moving pickup truck production from the U.S. to Mexico, union leader says
UAW Vice President Rich Boyer addresses union members during a “Solidarity Sunday” rally on Aug. 20, 2023 in Warren, Mich. Michael Wayland / CNBC WARREN, Mich. – Automaker Stellantis has threatened to move production of the current Ram 1500 pickup truck from a factory in suburban Detroit to Mexico, a union leader said Sunday. United… Continue reading Automaker Stellantis has discussed moving pickup truck production from the U.S. to Mexico, union leader says
How gas station economics will change in the electric vehicle charging future
As electric vehicles proliferate, some gas stations are making expensive overhauls to add EV charging stations. In most cases, they aren’t scrapping traditional liquid fuel pumps. But select locations, including an RS Automotive in Takoma Park, Md., and a Shell station in Fulham, England, have made a full switch. Location, cost, power requirements and conversion… Continue reading How gas station economics will change in the electric vehicle charging future
What Wall Street needs to know about UAW talks, a potential strike and what it could all cost
United Auto Workers members on strike picket outside General Motors’ Detroit-Hamtramck Assembly plant in Detroit, Sept. 25, 2019. Michael Wayland / CNBC DETROIT — The Oracle of Omaha is cutting exposure to the U.S. automotive industry amid union negotiations — potentially for good reason. Warren Buffett’s Berkshire Hathaway this week said it nearly halved its… Continue reading What Wall Street needs to know about UAW talks, a potential strike and what it could all cost
Cruise robotaxi gets in accident with San Francisco fire truck, one injured
A Cruise self-driving car, which is owned by General Motors Corp, is seen outside the company’s headquarters in San Francisco. Heather Somerville | Reuters A Cruise self-driving car was involved in a crash with a San Francisco Fire Department truck just one week after California regulators approved 24/7 robotaxi service in San Francisco. The incident… Continue reading Cruise robotaxi gets in accident with San Francisco fire truck, one injured
Automakers are finally embracing lidar sensors. A few startups look like market-share winners
A Hesai lidar sensor on top of a vehicle in Shenzhen, China, July 10, 2022. Jade Gao | AFP | Getty Images For investors in lidar startups, this has been a long time coming. After years of talk — and a SPAC boom in the sensor sector — automakers have finally started incorporating lidar units… Continue reading Automakers are finally embracing lidar sensors. A few startups look like market-share winners