A battery-electric Nikola Tre semitruck. Nikola is recalling all of the battery-electric Tres to repair a flaw in their battery packs that could start a fire. Five battery-electric Tres were destroyed in a fire at Nikola’s headquarters in June 2023. Courtesy: Nikola Shares of electric truck maker Nikola opened sharply lower Monday after the company… Continue reading Nikola shares fall after EV maker recalls all of its battery-electric semitrucks following a fire
Author: CNBC Online news
Ford hires Apple veteran to lead consumer software efforts
An electric Ford truck is displayed during the Electrify Expo In D.C. on July 23, 2023 in Washington, DC. Nathan Howard | Getty Images DETROIT – Ford Motor said Monday that it has hired Apple veteran Peter Stern to lead a newly created division focused on developing and marketing software-enabled customer experiences for the automaker.… Continue reading Ford hires Apple veteran to lead consumer software efforts
Why Americans are struggling with car loans
There are more than 275 million cars on the road in the U.S. But in recent years, car ownership has gotten more expensive than ever — due to the Covid-19 pandemic, supply chain issues, stubborn inflation and the Federal Reserve’s interest rate hikes. “Outside of purchasing your first home, a new car … is the… Continue reading Why Americans are struggling with car loans
A totaled Tesla was sold for parts in the U.S. but came back online in Ukraine — here’s what happened
CNBC Executive Editor Jay Yarow’s Tesla Model X that was “totaled” in the U.S. late last year. Jay Yarow / CNBC A Tesla Model X totaled in the U.S. late last year suddenly came back online and started sending notifications to the phone of its former owner, CNBC Executive Editor Jay Yarow, months later. The car… Continue reading A totaled Tesla was sold for parts in the U.S. but came back online in Ukraine — here’s what happened
2025 Cadillac Escalade IQ, GM’s new all-electric SUV, starts at $130,000. Here’s a first look
watch now NEW YORK – Twenty-five years after the Cadillac Escalade launched General Motors into large, highly profitable luxury SUVs, the Detroit automaker is hoping a new all-electric version of the vehicle will ignite the same success for a new generation of luxury buyers. GM on Wednesday revealed the 2025 Cadillac Escalade IQ, an all-electric… Continue reading 2025 Cadillac Escalade IQ, GM’s new all-electric SUV, starts at $130,000. Here’s a first look
Indian automaker Mahindra says competition from Tesla ‘does not faze us’
Mahindra atom electric car at Auto Expo 2020, on February 5, 2020, in Greater Noida, India. Pradeep Gaur | Mint | Hindustan Times | Getty Images Mahindra Group isn’t worried about global players like Tesla entering India’s highly competitive electric vehicle market, its CEO and managing director Anish Shah told CNBC. “We’ve seen tremendous competition… Continue reading Indian automaker Mahindra says competition from Tesla ‘does not faze us’
UAW leader defends union’s lofty demands, (literally) trashes Stellantis contract proposals
During a Facebook Live on Aug. 8, 2023, UAW President Shawn Fain Screenshot The leader of the United Auto Workers on Tuesday adamantly defended lofty demands for the union’s members who work for the Detroit automakers, while calling recent contract proposals from Stellantis “trash.” UAW President Shawn Fain during a Facebook Live webcast heavily criticized… Continue reading UAW leader defends union’s lofty demands, (literally) trashes Stellantis contract proposals
Rivian raises 2023 EV production guidance, posts narrower-than-expected quarterly loss
Production of electric Rivian R1T pickup trucks on April 11, 2022 at the company’s plant in Normal, Ill. Michael Wayland / CNBC Electric vehicle maker Rivian Automotive on Tuesday reported a loss for the second quarter that was narrower than expected and raised its production guidance for the full year. It now expects to build about 52,000 vehicles… Continue reading Rivian raises 2023 EV production guidance, posts narrower-than-expected quarterly loss
Electric Cadillac Escalade to test GM’s EV strategy, cash machine
2023 Cadillac Escalade V-Series Cadillac NEW YORK – General Motors on Wednesday will reveal a new all-electric version of the Cadillac Escalade, testing the luxury SUV’s prestige for a new era of drivers and the company’s strategy to turn its most lucrative vehicles into money-making EVs. GM CEO Mary Barra and other executives have promised… Continue reading Electric Cadillac Escalade to test GM’s EV strategy, cash machine
Lucid misses revenue expectations after EV deliveries disappoint
In an aerial view, a sign is posted on the exterior of Lucid headquarters on March 29, 2023 in Newark, California. Justin Sullivan | Getty Images Luxury electric vehicle maker Lucid Group reported that its second-quarter revenue fell short of Wall Street’s expectations after it delivered fewer of its Air luxury sedans than expected during the period.… Continue reading Lucid misses revenue expectations after EV deliveries disappoint