Ford Motor Company’s electric F-150 Lightning on the production line at its Rouge Electric Vehicle Center in Dearborn, Michigan, on Sept. 8, 2022. Jeff Kowalsky | AFP | Getty Images Shares of Ford Motor traded sharply lower Friday after the company reported earnings that missed estimates and said that demand for its electric vehicles was… Continue reading Ford shares fall 12% after earnings underline worries about costs and EV plans
Author: CNBC Online news
Chinese smartphone maker Xiaomi releases a new operating system as it plans car integration
The Xiaomi HyperOS logo is displayed on a smartphone. Sopa Images | Lightrocket | Getty Images BEIJING — Chinese smartphone and appliance maker Xiaomi announced late Thursday a new operating system — as it seeks to develop its ecosystem with the imminent release of its own car. Xiaomi shares rose more than 1% in Hong… Continue reading Chinese smartphone maker Xiaomi releases a new operating system as it plans car integration
Cruise pauses all driverless operations after collisions with pedestrians, permit suspensions in California
A Cruise vehicle in San Francisco, California, on Wednesday Feb. 2, 2022. David Paul Morris | Bloomberg | Getty Images Cruise, the autonomous vehicle startup owned by General Motors, has paused all of its driverless operations after collisions led to investigations, a disagreement with state regulators, and a suspension of its licenses in California earlier… Continue reading Cruise pauses all driverless operations after collisions with pedestrians, permit suspensions in California
Ford will postpone about $12 billion in EV investment as buyers become more cautious
Ford workers produce the electric F-150 Lightning pickup on Dec. 13, 2022 at the automaker’s Ford Rouge Electric Vehicle Center (REVC). Michael Wayland | CNBC As a result, it’s postponing about $12 billion in planned spending on new EV manufacturing capacity. Customers’ reluctance to pay extra for EVs has complicated Ford’s ambitious and expensive plans… Continue reading Ford will postpone about $12 billion in EV investment as buyers become more cautious
Hertz pulls back on EV plans citing Tesla price cuts, high repair costs
Tesla Model 3 electric vehicles at a Hertz airport location. Photo by E.R. Davidson Hertz is pumping the brakes on plans to electrify more of its rental car fleet after EV repair costs came in higher than the company anticipated, and after Tesla price cuts reduced the resale value of the majority of electric cars… Continue reading Hertz pulls back on EV plans citing Tesla price cuts, high repair costs
Ford misses Wall Street’s Q3 expectations, pulls guidance due to UAW strike, pending deal
2024 Ford F-150 Raptor Ford DETROIT — Ford Motor on Thursday missed Wall Street’s third-quarter expectations, as it restructures its operations and regroups following the end of a nearly six-week U.S. labor strike that in total has cost the company $1.3 billion. Shares of the company fell about 4% in after-hours trading. Due to the… Continue reading Ford misses Wall Street’s Q3 expectations, pulls guidance due to UAW strike, pending deal
Here’s what we think about Ford stock after tentative UAW deal and ahead of earnings
Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Thursday’s key moments. 1. Stocks were having another down day, led lower again by the mega-cap tech names. Jim Cramer said Thursday it’s the S & P Oscillator pointing to an oversold market… Continue reading Here’s what we think about Ford stock after tentative UAW deal and ahead of earnings
Uber begins offering rides in self-driving Waymo cars
Passengers ride in an electric Waymo full self-driving technology in Santa Monica Allen J. Schaben | Los Angeles Times | Getty Images Customers ordering an Uber in Phoenix now have the option to take their ride in a fully autonomous vehicle, the company announced in a blog post Thursday. Uber partnered with the autonomous car… Continue reading Uber begins offering rides in self-driving Waymo cars
We’re hopeful the UAW strike isn’t costing Ford as much lost production as GM
Investors just got a look at how much the United Auto Workers strike is costing General Motors (GM) in lost production. We’re hoping it won’t be as bad at Ford (F), which reports earnings Thursday evening. The UAW began striking Detroit’s three automakers last month after Ford, GM and Chrysler-parent Stellantis (STLA) failed to reach… Continue reading We’re hopeful the UAW strike isn’t costing Ford as much lost production as GM
GM, Honda scrap plans to co-develop ‘affordable’ sub-$30,000 EVs
The 2024 Honda Prologue is one of two EVs being made by General Motors for the Japanese automaker, utilizing its Ultium battery technologies. Honda DETROIT – General Motors and Honda Motor have canceled plans to jointly develop affordable electric vehicles as they face slower-than-expected demand and changing market conditions. The unwinding of the tie-up roughly… Continue reading GM, Honda scrap plans to co-develop ‘affordable’ sub-$30,000 EVs