A software and robotics machine called mGripAI from Massachusetts-based Soft Robotics sorts artifical pieces of chicken into trays for packaging at an automation conference held by the Association for Advancing Automation in Detroit. Michael Wayland / CNBC DETROIT — The automotive and logistics industries are no strangers to robots. They’re among the most heavily invested… Continue reading Three industries ripe for automation, according to a robotics guru
Author: CNBC Online news
The rise of Albemarle, the world’s largest lithium producer
Demand for lithium, a key component for electric vehicle batteries, is expected to surge, from 500,000 metric tons of lithium carbonate in 2021 to three to four million metric tons in less than a decade, according to McKinsey & Company. Albemarle, the world’s top producer of this critical metal and the operator of mines in Australia, Chile and… Continue reading The rise of Albemarle, the world’s largest lithium producer
Chinese EV startup Li Auto says car deliveries more than doubled in May
A Li Auto store inside a shopping mall in Yantai, Shandong province on May 6, 2023. Future Publishing | Future Publishing | Getty Images BEIJING — Chinese electric car startup Li Auto said it delivered more than twice as many cars in May versus a year ago. For a third-straight month, Li Auto’s deliveries topped… Continue reading Chinese EV startup Li Auto says car deliveries more than doubled in May
Elon Musk wrapped up his first visit to China in years. Here’s what the Tesla CEO was up to
Elon Musk last visited China in 2020 for the delivery ceremony of the Model 3. His first visit in 3 years saw the Tesla CEO meet with top government officials and speak to staff at the Shanghai Gigafactory. Ding Ting | Xinhua News Agency | Getty Images Musk meets Chinese officials Musk met with China’s… Continue reading Elon Musk wrapped up his first visit to China in years. Here’s what the Tesla CEO was up to
How inflation and higher interest rates have reshaped car buying for many Americans
Cars are displayed on the sales lot Serramonte Subaru on May 16, 2023 in Colma, California. Justin Sullivan | Getty Images The Federal Reserve’s battle to taper inflation by ratcheting up interest rates is limiting who can afford to purchase a new or used vehicle. The rate hikes have many Americans lowering their buying expectations,… Continue reading How inflation and higher interest rates have reshaped car buying for many Americans
UAW union outlines lofty demands ahead of critical negotiations with Detroit automakers
United Auto Workers members on strike picket outside General Motors’ Detroit-Hamtramck Assembly plant in Detroit on Sept. 25, 2019, with Sen. Bernie Sanders, of Vermont, far left. Michael Wayland | CNBC DETROIT — The United Auto Workers union appears ready to take a hard line when it comes to national negotiations this year with the… Continue reading UAW union outlines lofty demands ahead of critical negotiations with Detroit automakers
Elon Musk is the world’s richest person again
Elon Musk is the wealthiest person in the world again. Michel Euler | AFP | Getty Images Elon Musk is the richest person in the world again, according to Bloomberg Billionaires Index updated figures Thursday. The Tesla CEO saw his wealth jump 40.3% this year to $192 billion, after shares of the electric car maker… Continue reading Elon Musk is the world’s richest person again
EV maker Lucid announces $3 billion raise from Saudi public wealth fund and stock offering
In an aerial view, a sign is posted on the exterior of Lucid headquarters on March 29, 2023 in Newark, California. Electric vehicle maker Lucid announced plans to lay off 1,300 workers, 18 percent of its workforce, as part of a restructuring plan. Justin Sullivan | Getty Images Lucid Group said on Wednesday that it… Continue reading EV maker Lucid announces $3 billion raise from Saudi public wealth fund and stock offering
Advance Auto Parts shares plummet 35% after dismal results, cuts to outlook and dividend
Customer vehicles sit parked outside an Advance Auto Parts automotive supply store in La Grange, Kentucky. Luke Sharrett | Bloomberg | Getty Images Shares of Advance Auto Parts suffered their worst day of trading on record Wednesday after the company’s fiscal first-quarter earnings significantly missed Wall Street’s expectations and executives slashed the retailer’s yearly guidance… Continue reading Advance Auto Parts shares plummet 35% after dismal results, cuts to outlook and dividend
Two Club stocks get Wall Street upgrades, sending shares higher
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 Tuesday’s key moments. Trimming tech Watch Constellation Brands Stick with Ford 1. Trimming tech, as Nasdaq climbs Equities were mixed Tuesday morning, even as positive sentiment around artificial intelligence continued to pull the… Continue reading Two Club stocks get Wall Street upgrades, sending shares higher