General Motors CEO Mary Barra, center, at the New York Stock Exchange, Nov. 17, 2022. Source: NYSE DETROIT — General Motors on Tuesday raised key guidance for 2023 after reporting first-quarter results that topped Wall Street’s top- and bottom-line forecasts. Here’s how GM did, compared with what Wall Street expected based on average estimates compiled… Continue reading General Motors raises 2023 guidance as first-quarter earnings beat expectations
Author: CNBC Online news
Are gas-powered or electric vehicles a better deal? EVs may win out in long run, experts say
Halfpoint Images | Moment | Getty Images Sales of electric cars are poised for a boom, spurred by factors such as federal policy, technological advances and environmental concerns. To that point, 41% of Americans are at least somewhat likely to buy an electric vehicle as their next car, according to a recent poll from the… Continue reading Are gas-powered or electric vehicles a better deal? EVs may win out in long run, experts say
Why Porsche, Mercedes and GM are betting on silicon-anode batteries
Lithium-ion battery performance has hit a plateau in recent years, but a breakthrough in technology promises new heights are soon to be in sight. Batteries made with silicon instead of graphite — the commonly used material in battery anodes today — have been shown to enable significantly higher energy density and faster charging. “Silicon anode… Continue reading Why Porsche, Mercedes and GM are betting on silicon-anode batteries
Elon Musk had a rough week across his empire — Tesla, Twitter and SpaceX
Theo Wargo | Wireimage | Getty Images A rough week for Elon Musk was capped Friday when institutional shareholders in Tesla admonished the company’s board of directors to rein in an “over-committed” CEO in an open letter. The letter follows the midair explosion of the SpaceX Starship rocket in its first test flight Thursday and… Continue reading Elon Musk had a rough week across his empire — Tesla, Twitter and SpaceX
Lyft’s new CEO begins tenure with layoffs, reportedly cutting 1,200 jobs
A traveler arriving at Los Angeles International Airport looks for ground transportation during a statewide day of action to demand that ride-hailing companies Uber and Lyft follow California law and grant drivers “basic employee rights” in Los Angeles, California, U.S., August 20, 2020. Mike Blake | Reuters Ride-sharing app Lyft will lay off a significant… Continue reading Lyft’s new CEO begins tenure with layoffs, reportedly cutting 1,200 jobs
Jim Cramer’s top 10 things to watch in the stock market Friday
1. Truist downgraded Tesla (TSLA) to hold from buy, while lowering its price target to $154 per share, from $245. The firm cited the electric vehicle maker’s “brazen willingness to accept lower product margins.” Meanwhile, Barclays lowered its price target on Tesla to $220 per share, from $230, but maintained an overweight rating on the… Continue reading Jim Cramer’s top 10 things to watch in the stock market Friday
Tesla shares fall nearly 10% after earnings decline from year-ago quarter
Tesla CEO Elon Musk attends the official opening of the new Tesla electric car manufacturing plant on March 22, 2022 near Gruenheide, Germany. The new plant, officially called the Gigafactory Berlin-Brandenburg, is producing the Model Y as well as electric car batteries. Christian Marquardt – Pool/Getty Images Shares of electric vehicle manufacturer Tesla fell nearly… Continue reading Tesla shares fall nearly 10% after earnings decline from year-ago quarter
Ford F-150 Lightning fire footage highlights a growing EV risk
watch now DEARBORN, Mich. — New video footage of a fire involving a Ford F-150 Lightning this year highlights a growing concern around electric vehicles: volatile fires from the batteries that power them. The previously unreleased footage, which CNBC obtained through Michigan’s Freedom of Information Act from the Dearborn Police Department, shows smoke billowing from… Continue reading Ford F-150 Lightning fire footage highlights a growing EV risk
Toyota reveals two more electric cars for China
Toyota displays a new concept electric car — developed jointly with BYD and FAW — at the Shanghai auto show in April 2023. CNBC | Evelyn Cheng BEIJING — Toyota this week began taking orders for its first electric sedan in China, and announced two more models are set to come to the local market… Continue reading Toyota reveals two more electric cars for China
Automaker Stellantis hires ex-Adidas, grocery executive as CFO
The logo of Stellantis, the world’s fourth-largest automaker which starts trading in Milan and Paris after Fiat Chrysler and Peugeot maker PSA finalised their merger, is seen at the main entrance of FCA Mirafiori plant in Turin, Italy, January 18, 2021. Massimo Pinca | Reuters Stellantis on Wednesday said it has hired the chief financial… Continue reading Automaker Stellantis hires ex-Adidas, grocery executive as CFO