The Lucid Air Pure is the least-expensive version of Lucid’s electric Air luxury sedan. Meghan Reeder | CNBC Shares of Lucid Group fell on Thursday after the company launched a cheaper version of its Air electric luxury sedan in a bid to stoke demand. The stock closed down about 7% on Thursday following the news.… Continue reading Lucid’s shares fall after company launches a cheaper version of the Air EV to boost demand
Author: CNBC Online news
Jim Cramer says Ford may eventually look to shift some production to Mexico amid UAW strike
watch now As the United Auto Workers strike against the Detroit Big 3 persists, CNBC’s Jim Cramer said Thursday he believes Ford (F) may eventually consider shifting additional production to Mexico. “There is some movement between Ford and the UAW,” Cramer said on “Squawk on the Street.” However, Cramer said, “I have a feeling that,… Continue reading Jim Cramer says Ford may eventually look to shift some production to Mexico amid UAW strike
Rivian shares fell over 20% after the EV maker said it plans to raise $1.5 billion
Taylor looks at Rivian electric trucks at the auto maker’s newly opened storefront in the Meatpacking District of Manhattan on June 23, 2023 in New York City. Spencer Platt | Getty Images Shares of Rivian Automotive fell sharply on Thursday, after the company surprised investors with a plan to offer $1.5 billion in convertible notes.… Continue reading Rivian shares fell over 20% after the EV maker said it plans to raise $1.5 billion
GM secures new $6 billion credit line as UAW strike costs reach $200 million
watch now DETROIT – General Motors secured a new $6 billion line of credit as the automaker braces for additional strikes by the United Auto Workers union. “The facility that we announced today is a $6 billion line of credit that I think is prudent in light of some of the messages that we’ve seen… Continue reading GM secures new $6 billion credit line as UAW strike costs reach $200 million
Ford pickup truck sales lead third-quarter growth
Ford F-150 pickup trucks are seen on Metro Ford’s sales lot in Miami, Florida. Joe Raedle | Getty Images DETROIT – Ford Motor’s third-quarter U.S. new vehicle sales increased 7.7% compared with a year earlier, led by higher sales of traditional pickup trucks across its lineup. The Detroit automaker on Wednesday reported a 15.3% increase… Continue reading Ford pickup truck sales lead third-quarter growth
San Francisco woman trapped under autonomous Cruise vehicle after being struck in hit and run
A woman crossing a normally busy stretch of downtown San Francisco suffered serious injuries Monday night after a hit-and-run driver struck her, throwing her into the path of an oncoming driverless Cruise car, which then ran her over, according to video recorded by the autonomous vehicle that Cruise showed to the NBC Bay Area Investigative… Continue reading San Francisco woman trapped under autonomous Cruise vehicle after being struck in hit and run
GM’s third-quarter sales jump 21% as UAW strike slowly expands
United Auto Workers (UAW) members and supporters on a picket line outside the General Motors Co. Flint Processing Center in Swartz Creek, Michigan, US, on Monday, Sept. 25, 2023. Emily Elconin | Bloomberg | Getty Images DETROIT – An ongoing strike by the United Auto Workers union against the Detroit automakers had little to no… Continue reading GM’s third-quarter sales jump 21% as UAW strike slowly expands
As EV sales surge and cars get heavier, parking garages will have to change
Charging points at an underground car park in England. The number of EVs on our roads is increasing. Peter Titmuss/UCG | Universal Images Group | Getty Images Driving is changing. Today, hybrids and pure electric vehicles are a common sight around the world, and the overall size and heft of cars — whether they’re fully… Continue reading As EV sales surge and cars get heavier, parking garages will have to change
Rivian reports better-than-expected EV deliveries for the third quarter
Mike Blake | Reuters Rivian Automotive on Monday reported record third-quarter electric vehicle deliveries and said it remains on track to produce 52,000 EVs in 2023. The company said it delivered 15,564 vehicles during the period, up 23% from the second quarter of 2023 and ahead of Wall Street estimates. Analysts surveyed by FactSet had… Continue reading Rivian reports better-than-expected EV deliveries for the third quarter
Tesla reported 435,059 deliveries for the third quarter, and production of 430,488 vehicles
Tesla vehicles waiting to be loaded on board a cargo vessel at Nangang port, in Shanghai, China, on Sept. 6, 2023. Vcg | Visual China Group | Getty Images Tesla posted its third-quarter vehicle production and delivery report for 2023 on Monday. Here are the key numbers from the electric vehicle maker: Total deliveries Q3 2023: 435,059 Total production… Continue reading Tesla reported 435,059 deliveries for the third quarter, and production of 430,488 vehicles