A Xpeng P7 electric car is on display during the 18th Guangzhou International Automobile Exhibition at China Import and Export Fair Complex on November 20, 2020 in Guangzhou, Guangdong Province of China. VCG | Visual China Group | Getty Images Xpeng on Friday reported a wider-than-expected loss in the second quarter, sending the Chinese electric… Continue reading Xpeng shares drop 7% after the Chinese electric car maker posts a record quarterly loss
Author: CNBC Online news
Looming auto workers strike could cost $5 billion in just 10 days, new analysis says
United Auto Workers members on strike picket outside General Motors’ Detroit-Hamtramck Assembly plant in Detroit with Sen. Bernie Sanders, of Vermont, far left, Sept. 25, 2019. Michael Wayland | CNBC DETROIT – If the United Auto Workers union decides to strike against Detroit’s Big Three automakers when current labor contracts expire next month, the economic… Continue reading Looming auto workers strike could cost $5 billion in just 10 days, new analysis says
Tesla makes further price cuts in China, reducing models S and X by $7,400 to $8,500
Visitors check a Tesla Model 3 car next to a Model Y displayed at a showroom of the U.S. electric vehicle (EV) maker in Beijing, China February 4, 2023. Florence Lo | Reuters Tesla on Wednesday slashed the price of the existing inventory of its Model S and Model X cars in China, as the… Continue reading Tesla makes further price cuts in China, reducing models S and X by $7,400 to $8,500
General Motors is investing in a startup working on better and cheaper EV batteries
Sales of the sub-$30,000 Chevy Bolt, being assembled here in Orion Township, Michigan, allowed GM to recently pass Ford as a distant No. 2 behind Tesla in EVs. Future low-cost GM EVs could benefit from the batteries being developed by Mitra Chem. Joe White | Reuters General Motors said Wednesday it’s leading a $60 million… Continue reading General Motors is investing in a startup working on better and cheaper EV batteries
Roundabouts are safer than traffic lights. So why are there so few in the U.S.?
Consider the simple roundabout — a traffic circle well known in Europe but less familiar across most of America. Proponents say roundabouts can dramatically reduce crashes, injuries and deaths, can improve traffic and even save a city a fair bit of money. But they have only recently caught on in the U.S., and not without… Continue reading Roundabouts are safer than traffic lights. So why are there so few in the U.S.?
Vietnamese EV maker VinFast is now worth more than Ford and GM after Nasdaq debut
BANGKOK, THAILAND – 2023/05/18: VinFast displays its vehicles at Future Energy Asia Exhibition 2023 at Queen Sirikit National Convention Center. Nathalie Jamois | Lightrocket | Getty Images VinFast‘s shares jumped after its U.S. trading debut, vaulting its total market value past some of the world’s largest automakers such as Ford, GM, BMW and Volkswagen. On… Continue reading Vietnamese EV maker VinFast is now worth more than Ford and GM after Nasdaq debut
Jim Cramer worries about a UAW union strike at Ford. Here’s how we’re playing the stock
Jim Cramer is cautious about Ford (F) due to the heightened risk of a United Auto Workers strike, which has been a recent overhang on the Club stock. But, Jim is encouraged by the automaker’s electric vehicle efforts and its embrace of other emerging technologies. UAW strike concerns Ford shares had seen a nice rally… Continue reading Jim Cramer worries about a UAW union strike at Ford. Here’s how we’re playing the stock
Tesla launches lower-range Model X and Model S that are $10,000 cheaper
TESLA logo on a charging station at on May 26, 2023 in Merklingen, Germany. Harry Langer/ | Defodi Images | Getty Images Tesla rolled out cheaper versions of its Model S and Model X vehicles in the U.S. as competition in the electric vehicle space continues to ramp up. The lower-cost versions of both vehicles… Continue reading Tesla launches lower-range Model X and Model S that are $10,000 cheaper
Vietnamese EV maker VinFast debuts on the Nasdaq after completing SPAC merger
watch now Shares of Vietnamese electric vehicle maker VinFast began trading on the Nasdaq on Tuesday, following completion of its merger with the U.S.-listed special purpose acquisition company Black Spade Acquisition. VinFast’s new U.S. shares opened at $22 on Tuesday and rose sharply to end the day at $37.06 for a gain of over 68%.… Continue reading Vietnamese EV maker VinFast debuts on the Nasdaq after completing SPAC merger
China is on course to overtake Japan and become the world’s No.1 car exporter
China, automobile, vehicles Vcg | Visual China Group | Getty Images China is on course to overtake Japan as the world’s top auto exporter by the end of 2023, according to Moody’s Analytics. “China made heads turn through the pandemic as it strutted past South Korea in 2021 and Germany in 2022, making it the… Continue reading China is on course to overtake Japan and become the world’s No.1 car exporter