Signage outside Lordstown Motors Corp. headquarters in Lordstown, Ohio, on Saturday, May 15, 2021. Dustin Franz | Bloomberg | Getty Images Electric vehicle startup Lordstown Motors disclosed on Monday that a funding deal with Foxconn is in jeopardy – and that it may go bankrupt if the deal doesn’t happen. Lordstown’s shares fell sharply on… Continue reading Lordstown Motors warns of bankruptcy after Foxconn threatens to walk away from crucial funding deal
Author: CNBC Online news
Why GM is killing the Chevy Bolt — America’s cheapest EV — amid record sales
A Chevrolet Bolt EUV on display at the New York Auto Show, April 13, 2022. Scott Mlyn | CNBC DETROIT — After years of lackluster performance and a fire-provoked recall, the all-electric Chevrolet Bolt EV was finally gaining traction for General Motors. As America’s cheapest EV following significant price cuts, U.S. sales of the Chevy… Continue reading Why GM is killing the Chevy Bolt — America’s cheapest EV — amid record sales
Mobileye shares plunge after self-driving tech company cuts guidance amid Tesla’s EV price war
Mobileye signage during the company’s IPO at the Nasdaq MarketSite in New York, US, on Wednesday, Oct. 26, 2022. Mobileye Global Inc., the self-driving technology company owned by Intel Corp., priced one of the biggest US initial public offerings of the year above its marketed range to raise $861 million. Michael Nagle | Bloomberg |… Continue reading Mobileye shares plunge after self-driving tech company cuts guidance amid Tesla’s EV price war
Wall Street worries GM will face a tougher 2023 than the automaker is letting on
Mary Barra, chief executive officer of General Motors Co., during the South by Southwest festival in Austin, Texas, March 14, 2023. Jordan Vonderhaar | Bloomberg | Getty Images DETROIT — Doubts are creeping in on Wall Street about the rest of 2023 for General Motors. The company on Tuesday beat Wall Street’s first-quarter earnings expectations… Continue reading Wall Street worries GM will face a tougher 2023 than the automaker is letting on
Chrysler parent Stellantis offering buyouts to 33,500 U.S. employees
Carlos Tavares, Chief Executive Officer of Stellantis, poses during a presentation at the New York International Auto Show, in Manhattan, New York City, April 5, 2023. David Dee Delgado | Reuters DETROIT — Stellantis is offering voluntary buyouts to about 33,500 U.S. employees, as the global automaker attempts to cut costs and head count. The… Continue reading Chrysler parent Stellantis offering buyouts to 33,500 U.S. employees
Electric car sales surged by 55% last year to surpass 10 million, and China led the way: IEA
Electric vehicles from Tesla photographed in China. The world’s second largest economy is a major player when it comes to the sale of electric vehicles. Vcg | Visual China Group | Getty Images Electric car sales jumped to more than 10 million last year, with China accounting for roughly 60% of the market, according to… Continue reading Electric car sales surged by 55% last year to surpass 10 million, and China led the way: IEA
China’s EV players are starting to compete on driver assist tech
Huawei’s co-developed Aito electric car brand is now selling an updated version of the M5 model that comes with new driver-assist tech. Bloomberg | Bloomberg | Getty Images BEIJING — Companies in China are playing up assisted driving technology as a way to compete in the hot electric car market. Around the Shanghai auto show… Continue reading China’s EV players are starting to compete on driver assist tech
Cruise robotaxis now run all day in San Francisco, with public access after 10 p.m.
A Cruise vehicle in San Francisco, California, on Wednesday Feb. 2, 2022. David Paul Morris | Bloomberg | Getty Images Kyle Vogt, CEO and founder of GM-owned autonomous vehicle company Cruise, announced Tuesday that the company’s robotaxis are now running around the clock in San Francisco. The company’s paid, driverless service is a step towards… Continue reading Cruise robotaxis now run all day in San Francisco, with public access after 10 p.m.
Lucid’s Gravity SUV is taking another step toward production with tests on public roads
Lucid showing a preproduction version of the Gravity, a luxury electric SUV, testing on US public roads. The Gravity is expected to begin shipping in 2024. Courtesy: Lucid Luxury electric-vehicle maker Lucid Group said Tuesday that it has begun testing its next model, a large SUV called Gravity, on public roads in the U.S., a… Continue reading Lucid’s Gravity SUV is taking another step toward production with tests on public roads
GM to end production of electric Chevy Bolt, its first mass-market EV, later this year
UAW Local 5960 member Kimberly Fuhr inspects a Chevrolet Bolt EV during vehicle production on May 6, 2021, at the General Motors Orion Assembly Plant in Orion Township, Michigan. Steve Fecht for Chevrolet DETROIT – General Motors plans to stop production of its electric Chevrolet Bolt models by the end of this year, CEO Mary… Continue reading GM to end production of electric Chevy Bolt, its first mass-market EV, later this year