A Polestar 4 electric SUV is on display during the 20th Shanghai International Automobile Industry Exhibition at the National Exhibition and Convention Center (Shanghai) on April 18, 2023 in Shanghai, China. Vcg | Visual China Group | Getty Images Swedish electric vehicle maker Polestar on Wednesday cut its longstanding 2025 deliveries target and said that… Continue reading Polestar cuts its guidance as it retools its business plan for lower EV sales, higher profits
Author: CNBC Online news
GM’s Cruise is recalling 950 robotaxis after pedestrian collision
Sydney Boyo Cruise, the autonomous vehicle venture owned by General Motors, has issued a recall effecting 950 of its robotaxis following a pedestrian collision in San Francisco last month. Previously, the company had grounded all of its driverless operations following the Oct. 2 collision during which a pedestrian was thrown into the path of the Cruise robotaxi… Continue reading GM’s Cruise is recalling 950 robotaxis after pedestrian collision
China’s truck industry is buying more driver-assist technology
People attend a launch ceremony of Inceptio’s autonomous driving system on March 10, 2021 in Shanghai, China. Huanqiu.com | Visual China Group | Getty Images BEIJING — China’s truck industry is finding more reasons to buy vehicles with assisted-driving technology. It’s a critical step toward monetization in a nascent business that’s drawn many investor dollars,… Continue reading China’s truck industry is buying more driver-assist technology
Stellantis’ new Ram pickup is an EV — with a gas-powered generator in case the battery runs out
2025 Ram 1500 Ramcharger Tungsten Ram DETROIT — Automaker Stellantis plans to produce an industry-first electric pickup truck called the Ram 1500 Ramcharger that’s equipped with an electric generator and a gas engine. If that sounds like an oxymoron, here’s how it works: The truck can operate as a zero-emissions EV until its battery dies… Continue reading Stellantis’ new Ram pickup is an EV — with a gas-powered generator in case the battery runs out
Cruise confirms robotaxis rely on human assistance every four to five miles
This Cruise in San Francisco seemingly could not figure out how to pull aside on a narrow street to let a buss pass. Matt Rosoff, CNBC Cruise CEO and founder Kyle Vogt posted comments on Hacker News on Sunday responding to allegations that his company’s robotaxis aren’t really self-driving, but instead require frequent help from… Continue reading Cruise confirms robotaxis rely on human assistance every four to five miles
GM is expected to invest $13 billion in U.S. facilities under new UAW deal
United Auto Workers (UAW) members strike at a General Motors assembly plant that builds the U.S. automaker’s full-size sport utility vehicles, in another expansion of the strike in Arlington, Texas, October 24, 2023. James Breeden | Reuters DETROIT – General Motors plans to invest roughly $13 billion in U.S. facilities by April 2028, the United… Continue reading GM is expected to invest $13 billion in U.S. facilities under new UAW deal
Why San Francisco’s robotaxi rollout has been such a mess
Self-driving cars have flooded San Francisco streets, and many of them have no safety drivers behind the wheel. In August, two of the leading autonomous vehicle companies, General Motors-owned Cruise and Alphabet’s Waymo, were granted permission to expand operations, allowing people to hail a driverless car the same way they order an Uber. Users who… Continue reading Why San Francisco’s robotaxi rollout has been such a mess
UAW has Tesla, Toyota in its sights after contract wins at Detroit automakers
United Auto Workers President Shawn Fain gestures in solidarity with striking workers during a rally at UAW Local 551 on Saturday, Oct. 7, 2023, in Chicago. John J. Kim | Tribune News Service | Getty Images DETROIT – United Auto Workers President Shawn Fain wants to expand the union’s battle from the Detroit automakers to… Continue reading UAW has Tesla, Toyota in its sights after contract wins at Detroit automakers
Here are 4 big trades for the portfolio this week and 2 difficult rating changes
What a difference a week makes. Following last week’s stumbles, the Dow Jones Industrial Average , the S & P 500 and the Nasdaq Composite are all tracking to go wire-to-wire this week, with five-straight days of gains. Dovish rhetoric from the Federal Reserve on Wednesday and a Goldilocks (not too hot, not too cold)… Continue reading Here are 4 big trades for the portfolio this week and 2 difficult rating changes
Chinese Tesla rival Nio cuts 10% of workforce as CEO predicts ‘intense competition’
Nio’s ET5 stands on display at the Central China International Auto Show on May 25, 2023, in Wuhan, China. Getty Images | Getty Images News | Getty Images Chinese electric carmaker Nio plans to cut 10% of its workforce amid “fierce competition,” CEO William Li said Friday. The job cuts will be completed by November.… Continue reading Chinese Tesla rival Nio cuts 10% of workforce as CEO predicts ‘intense competition’