Dave Walters of Orange County, California, stands by his newly leased Hyundai Ioniq 5 electric vehicle. Provided by Dave Walters Fed up with high gas prices and enticed by federal tax credits, Dave Walters decided he wanted an all-electric Hyundai Ioniq 5 for his next vehicle. The Orange County, California, resident initially thought about purchasing… Continue reading Automakers find a tax credit loophole to increase EV leasing and boost sales
Author: CNBC Online news
Polestar to cut 10% of workforce as delays push upcoming SUV to 2024
Polestar 3 Courtesy: Polestar Swedish electric vehicle maker Polestar on Thursday trimmed its full-year production guidance, saying that its upcoming Polestar 3 SUV will be delayed until 2024 because of software issues. The company also said it will cut about 10% of its workforce to reduce costs. Shares fell sharply following the news and ended… Continue reading Polestar to cut 10% of workforce as delays push upcoming SUV to 2024
Two dead in shooting at Mercedes plant in Germany
A Mercedes S-Class luxury automobile rolls off the assembly line at the Mercedes-Benz Group plant in Sindelfingen, Germany, on Monday, Feb. 13, 2023. Krisztian Bocsi | Bloomberg | Getty Images Two people, both 44, were killed in a shooting at the Mercedes-Benz Daimler factory in Sindelfingen, southern Germany on Thursday, local German police said. The… Continue reading Two dead in shooting at Mercedes plant in Germany
Hyundai explains how it plans to become one of the world’s top three EV makers by 2030
A presenter stand next to Hyundai’s all-electric SUV ‘IONIQ 5’ during its launch at the Auto Expo 2023 on January 11, 2023 in Greater Noida, India. Ajay Aggarwal | Hindustan Times | Getty Images South Korean automaker Hyundai Motor Company is ramping up its production capabilities as it aims to become one of the world’s… Continue reading Hyundai explains how it plans to become one of the world’s top three EV makers by 2030
Ford reveals redesigned Ranger pickup with new Raptor performance model
2024 Ford Ranger Raptor Ford DETROIT — Ford Motor on Wednesday revealed its redesigned Ranger midsize pickup truck for the U.S., including a new Raptor performance model. The addition of the Raptor — starting at $56,960 — is part of Ford’s plan to increase high-profit variants to boost its bottom line, as the company pours… Continue reading Ford reveals redesigned Ranger pickup with new Raptor performance model
Rivian reports a narrower-than-expected quarterly loss, reaffirms EV production target
Rivian Courtesy: Rivian Electric vehicle maker Rivian Automotive on Tuesday reported a first-quarter loss that was narrower than expected and said it’s still on track to meet a 50,000-vehicle production target for 2023. Shares were up about 4% in after-hours trading following the news. related investing news Here’s how the company did as per consensus… Continue reading Rivian reports a narrower-than-expected quarterly loss, reaffirms EV production target
GM hires ex-Apple exec to lead new software unit
A sign with the General Motors quality mission statement stands in the lobby at the GM Warren Tech Center in Warren, Michigan. Rebecca Cook | Reuters DETROIT – General Motors has hired former Apple executive Mike Abbott to lead a newly created software unit for the Detroit automaker. Abbott, former vice president of engineering for… Continue reading GM hires ex-Apple exec to lead new software unit
Nikola exits European joint venture to focus on hydrogen trucks in North America
Nikola Motor Company Source: Nikola Motor Company Electric heavy truck maker Nikola said Tuesday that it’s “refocusing the company on North America” as it exited a European joint venture with its chassis supplier, The news came as the company reported its first-quarter results. Here are the key numbers, together with Wall Street estimates as reported… Continue reading Nikola exits European joint venture to focus on hydrogen trucks in North America
Fisker cuts production guidance for Ocean EV after last-minute snags
Henrik Fisker stands with the Fisker Ocean electric vehicle after it was unveiled at the Manhattan Beach Pier ahead of the Los Angeles Auto Show and AutoMobilityLA on November 16, 2021 in Manhattan Beach, California. Patrick T. Fallon | AFP | Getty Images Electric vehicle startup Fisker on Tuesday reported a wider first-quarter loss than… Continue reading Fisker cuts production guidance for Ocean EV after last-minute snags
49. Monarch Tractor
Founders: Praveen Penmetsa (CEO), Mark Schwager, Zachary Omohundro, Carlo MondaviLaunched: 2018Headquarters: Livermore, CaliforniaFunding: $116.4 millionValuation: $271 millionKey technologies: Autonomous vehicles, roboticsIndustry: AgriculturePrevious appearances on Disruptor 50 List: 1 (No. 20 in 2022) Persephone Kavallines Agriculture has been difficult to disrupt, and decarbonize. As the producer of the world’s first-ever fully electric, driver-optional smart tractor, Monarch Tractor’s goal… Continue reading 49. Monarch Tractor