watch now DETROIT — General Motors will follow crosstown rival Ford Motor in partnering with Tesla to use the electric vehicle leader’s North American charging network and technologies. Under the deal, GM vehicles will be able to access 12,000 of Tesla’s fast chargers using an adapter and the Detroit automaker’s EV charging app, starting next… Continue reading GM to use Tesla charging network, joining Ford in leveraging the EV leader’s tech
Author: CNBC Online news
Carvana shares surge after the company boosts second-quarter guidance
A Carvana glass tower sits illuminated on Feb. 23, 2022, in Oak Brook, Illinois. Armando L. Sanchez | Tribune News Service | Getty Images Shares of online used-car retailer Carvana surged Thursday after the company said its second-quarter results would likely come in ahead of its earlier expectations as cost-reduction measures take hold. Shares gained… Continue reading Carvana shares surge after the company boosts second-quarter guidance
GM to invest $500 million to build next-generation Cadillac Escalade, other large SUVs
An employee uses a flash grinder to smooth out the metal frame of a sports utility vehicle (SUV) on the production line at the General Motors Co. (GM) assembly plant in Arlington, Texas. Matthew Busch | Bloomberg | Getty Images DETROIT – General Motors plans to invest more than $500 million in a plant in… Continue reading GM to invest $500 million to build next-generation Cadillac Escalade, other large SUVs
Used car prices are falling as sales soften amid high interest rates
A sign reads ‘We Buy Used Cars!!’ at an auto dealership on February 15, 2023 in Glendale, California. Mario Tama | Getty Images DETROIT – Wholesale used vehicle prices reached their lowest level of the year in May, as sales fell amid high interest rates and inflated retail prices. Cox Automotive reported Wednesday a 2.7%… Continue reading Used car prices are falling as sales soften amid high interest rates
Elon Musk discussed a possible Mongolia expansion with the country’s prime minister
Tesla CEO Elon Musk. Ludovic Marin | Afp | Getty Images Mongolia’s prime minister Luvsannamsrai Oyun-Erdene and Tesla CEO Elon Musk on Monday discussed possible expansion and investments into the Asian country over a virtual meeting. “They discussed the possibility of welcoming Tesla to Mongolia for its electric vehicles battery factory, leveraging the country’s wide… Continue reading Elon Musk discussed a possible Mongolia expansion with the country’s prime minister
‘Public nuisance’: New York sues Hyundai and Kia, alleging their cars are easy to steal
Hyundai Motor Co. vehicles are displayed at the company’s Motorstudio showroom in Goyang, South Korea, on Thursday, Oct. 22, 2020. Bloomberg | Bloomberg | Getty Images South Korean automakers Hyundai and Kia are being sued for causing a “public nuisance,” according to a complaint filed in Manhattan federal court. New York City is accusing the two firms of failing to… Continue reading ‘Public nuisance’: New York sues Hyundai and Kia, alleging their cars are easy to steal
This Black-owned startup is fixing and learning from broken EV charging stations
With electric vehicle adoption accelerating, so too is the need servicing public charging stations. Unlike fixing an old gas pump, some companies are using technology to both service and learn from the stations, to improve EV charging technology. More than one-quarter of public EV charging stations were found to be nonfunctioning, according to a survey… Continue reading This Black-owned startup is fixing and learning from broken EV charging stations
GM to invest more than $1 billion to produce new heavy-duty pickups
Line workers work on the chassis of full-size General Motors pickup trucks at the Flint Assembly plant in Flint, Michigan, June 12, 2019. JEFF KOWALSKY / AFP / Getty Images DETROIT – General Motors plans to invest more than $1 billion in two Michigan plants for production of next-generation heavy-duty trucks, the company said Monday.… Continue reading GM to invest more than $1 billion to produce new heavy-duty pickups
How new lithium extraction technology could help us meet electric vehicle targets
The world contains vast quantities of lithium, an integral element in electric vehicle batteries. And though lithium is commonly mined from hard rock, the majority of the world’s lithium reserves are actually found in brine, extremely salty water beneath the Earth’s surface. Today, brine mining involves evaporating the brine in massive, extravagantly colored pools over… Continue reading How new lithium extraction technology could help us meet electric vehicle targets
How Ford, GM auto dealers are thinking about Detroit’s EV transition and their future
Ford Mustang Mach-E vehicles at a Ford dealership in Colma, California, on July 22, 2022. Bloomberg | Getty Images After a home, buying a car is the most expensive purchase most consumers will ever make during their lifetime. The transition to electric vehicles by major auto makers is likely to make the process a little… Continue reading How Ford, GM auto dealers are thinking about Detroit’s EV transition and their future