Korean automobile manufacturer Kia displays the electric vehicle “EV6 GT-Line” during the 30th Gaikindo Indonesia International Auto Show in Tangerang on August 10, 2023. Yasuyoshi Chiba | Afp | Getty Images Indonesia’s EV-friendly policies have lured global investors to the country, but experts say they could also boost investments in Southeast Asia’s automotive industry more… Continue reading Indonesia’s EV ambitions could help boost investments in the rest of Southeast Asia
Author: CNBC Online news
Going beyond Tesla: ETF bets solely on electric vehicle makers
watch now A new exchange-traded fund is zeroing in on electric vehicle manufacturers. Defiance ETFs runs the Solactive Pure U.S. Electric Vehicle ETF — which is also known as the Pure EV Index fund. It’s designed to give investors a way to make a concentrated bet on the space. “We realized that investors are buying… Continue reading Going beyond Tesla: ETF bets solely on electric vehicle makers
UAW president invites Biden to join picket line as autoworker strikes expand to dozens of facilities
Shawn Fain, president of the United Auto Workers, speaks to the crowd during a UAW rally in Detroit, on Sept. 15, 2023. Emily Elconin | Bloomberg | Getty Images United Auto Workers President Shawn Fain on Friday invited President Joe Biden to join the picket line as striking workers expanded their walkout to dozens more… Continue reading UAW president invites Biden to join picket line as autoworker strikes expand to dozens of facilities
Could the United Auto Workers strike affect car prices? ‘Inevitably yes,’ expert says
Members of the United Auto Workers union hold a practice picket in front of Stellantis headquarters in Auburn Hills, Michigan, on Sept. 20, 2023. Bill Pugliano | Getty Images Regardless of the outcome, the United Auto Workers strike threatens to cause already-high car prices to escalate. After the Big Three automakers — Ford, GM and… Continue reading Could the United Auto Workers strike affect car prices? ‘Inevitably yes,’ expert says
Jim Cramer says Tesla will have a ‘substantial rally’ if it can prove Wall Street wrong
watch now Shares of Tesla (TSLA) edged lower Friday after Barclays forecasted the mega-cap name would miss on delivery results. Wall Street analysts expect Tesla to report third-quarter deliveries of 455,000 units, missing the consensus forecast of 463,000 units. Barclays maintained an equal weight (hold) rating on Tesla with a price target of $260 apiece… Continue reading Jim Cramer says Tesla will have a ‘substantial rally’ if it can prove Wall Street wrong
UAW targets 38 facilities at GM and Stellantis for expanded strikes, skips Ford
watch now DETROIT — The United Auto Workers is expanding strikes to 38 parts and distribution locations across 20 states, targeting General Motors and Stellantis, UAW President Shawn Fain said Friday morning. The union will not initiate additional strikes at Ford Motor, as the company has proven it’s “serious about reaching a deal,” Fain said… Continue reading UAW targets 38 facilities at GM and Stellantis for expanded strikes, skips Ford
Automakers question UAW’s strike motives after leaked ‘chaos’ messages
United Auto Workers President Shawn Fain (center) marches with UAW members through downtown Detroit after a rally in support of the union’s members as they strike the Big Three automakers, Detroit, Michigan, Sept. 15, 2023. Bill Pugliano | Getty Images DETROIT — Major automakers are calling into question the United Auto Workers’ motives in launching… Continue reading Automakers question UAW’s strike motives after leaked ‘chaos’ messages
Where key issues stand as UAW closes in on extended strikes against GM, Ford and Stellantis
(L-R) Supporter Ryan Sullivan, and United Auto Workers members Chris Sanders-Stone, Casey Miner, Kennedy R. Barbee Sr. and Stephen Brown picket outside the Jeep Plant on September 18, 2023 in Toledo, Ohio. Sarah Rice | Getty Images DETROIT — With a deadline for expanded strikes by the United Auto Workers against the Detroit automakers closing… Continue reading Where key issues stand as UAW closes in on extended strikes against GM, Ford and Stellantis
Chinese EV maker Nio releases a smartphone it expects at least half of its users to buy
watch now SHANGHAI — Chinese electric car brand Nio on Thursday released an Android smartphone, which the company expects at least half its users to buy, CEO William Li told CNBC in an exclusive interview ahead of the launch. The phone, priced from around $900 to $1,000, is an Android device that’s about $150 cheaper… Continue reading Chinese EV maker Nio releases a smartphone it expects at least half of its users to buy
GM and Stellantis just laid off more than 2,000 additional workers because of the UAW’s strike
United Auto Workers members on a picket line outside the Stellantis NV Toledo Assembly Complex in Toledo, Ohio, on Sept. 18, 2023. Emily Elconin | Bloomberg | Getty Images General Motors and Stellantis said they have laid off additional workers because of consequences related to the United Auto Workers strike. GM said in a statement… Continue reading GM and Stellantis just laid off more than 2,000 additional workers because of the UAW’s strike