A Tesla Model 3 vehicle on an auto carrier in front of a store in Rocklin, California, U.S., on Wednesday, July 21, 2021. Tesla Inc. is scheduled to release earnings figures on July 26. David Paul Morris | Bloomberg | Getty Images Tesla shares dropped 5% on Friday after the electric car company cut prices… Continue reading Tesla shares close down 5% after price cuts, Model 3 refresh
Author: CNBC Online news
Biden kept a Ford EV battery plant from going overseas. But not everyone is happy about it.
watch now MARSHALL, MICH. – On a gusty morning in a quaint central Michigan town, the sun’s glow hits the brightly colored mural on the side of a brick building. It reads, in bold letters, “GREETINGS FROM MARSHALL.” The sidewalk is lined with attractive shops like Living MI, where owner Caryn Drenth arranges a stack… Continue reading Biden kept a Ford EV battery plant from going overseas. But not everyone is happy about it.
UAW president says union has filed unfair labor practice charges against GM, Stellantis over contract talks
UAW President Shawn Fain addresses union members during a Solidarity Sunday rally in Warren, Michigan, Aug. 20, 2023 Michael Wayland / CNBC DETROIT — United Auto Workers has filed unfair labor practice charges against automakers General Motors and Stellantis to the National Labor Relations Board for not bargaining with the union in good faith or… Continue reading UAW president says union has filed unfair labor practice charges against GM, Stellantis over contract talks
Tesla reportedly facing DOJ, SEC probes over plans to build Elon Musk a large glass house
Elon Musk, Chief Executive Officer of SpaceX and Tesla and owner of Twitter, looks on as he attends the Viva Technology conference dedicated to innovation and startups at the Porte de Versailles exhibition centre in Paris, France, June 16, 2023. Gonzalo Fuentes | Reuters Tesla is reportedly facing two new federal probes over possible misuse… Continue reading Tesla reportedly facing DOJ, SEC probes over plans to build Elon Musk a large glass house
How Kia pulled off a massive turnaround in the U.S.
Korean carmaker Kia is something of a Cinderella story. When the automaker arrived in the U.S. in 1994, its cars were poorly reviewed, and it was seen mostly as a low-cost value brand. Now, Kia is winning awards and commanding higher markups than its peers. U.S. sales have gone from about 12,000 units in 1994… Continue reading How Kia pulled off a massive turnaround in the U.S.
Polestar second-quarter loss widens as it ramps up EV deliveries
The Polestar 3 SUV, originally expected late this year, has been pushed into early 2024 because of delays with its Volvo-developed software. Courtesy: Polestar Swedish electric vehicle maker Polestar on Thursday reiterated that it still expects to deliver at least 60,000 EVs in 2023, with a positive gross margin – and confirmed that its next… Continue reading Polestar second-quarter loss widens as it ramps up EV deliveries
Tesla ordered by auto regulators to provide data on ‘Elon mode’ Autopilot configuration
Tesla has received a special order from federal automotive safety regulators requiring the company to provide extensive data about its driver assistance and driver monitoring systems, and a once secret configuration for these known as “Elon mode.” Typically, when a Tesla driver uses the company’s driver assistance systems — which are marketed as Autopilot, Full… Continue reading Tesla ordered by auto regulators to provide data on ‘Elon mode’ Autopilot configuration
Redwood Materials, run by ex-Tesla CTO, raises $1 billion to expand recycling operations in U.S.
JB Straubel sits down with CNBC’s Phil LeBeau at Redwood Materials. Redwood Materials, the battery and e-waste recycling startup founded by former Tesla CTO JB Straubel, announced Tuesday that it has closed a $1 billion funding round to expand operations in the U.S. The company takes spent electric vehicle batteries, breaks them down, and uses… Continue reading Redwood Materials, run by ex-Tesla CTO, raises $1 billion to expand recycling operations in U.S.
Nio reports wider second-quarter loss amid China slowdown and product line revamp
Nio’s ET5 stands on display at the Central China International Auto Show on May 25, 2023, in Wuhan, China. Getty Images | Getty Images News | Getty Images Chinese electric vehicle maker Nio lost $835.1 million in the second quarter, more than twice its year-ago loss as deliveries of its upscale EVs slipped amid a… Continue reading Nio reports wider second-quarter loss amid China slowdown and product line revamp
GM, Google exploring ways to use AI across automaker’s business
The GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, March 16, 2021. Rebecca Cook | Reuters DETROIT – General Motors is working with Google to explore opportunities to implement AI technologies across the automaker’s business, the companies announced Tuesday. The broad partnership around generative, or conversational, AI between… Continue reading GM, Google exploring ways to use AI across automaker’s business