2023 Cadillac Escalade V-Series Cadillac NEW YORK – General Motors on Wednesday will reveal a new all-electric version of the Cadillac Escalade, testing the luxury SUV’s prestige for a new era of drivers and the company’s strategy to turn its most lucrative vehicles into money-making EVs. GM CEO Mary Barra and other executives have promised… Continue reading Electric Cadillac Escalade to test GM’s EV strategy, cash machine
Author: CNBC Online news
Lucid misses revenue expectations after EV deliveries disappoint
In an aerial view, a sign is posted on the exterior of Lucid headquarters on March 29, 2023 in Newark, California. Justin Sullivan | Getty Images Luxury electric vehicle maker Lucid Group reported that its second-quarter revenue fell short of Wall Street’s expectations after it delivered fewer of its Air luxury sedans than expected during the period.… Continue reading Lucid misses revenue expectations after EV deliveries disappoint
Tesla CFO Zach Kirkhorn steps down
Zachary Kirkhorn, CFO, Tesla Source: Tesla Tesla‘s chief financial officer, Zach Kirkhorn, stepped down from his position effective Friday, the automaker announced Monday morning in a regulatory filing. Tesla’s chief accounting officer, Vaibhav Taneja, was appointed as the new CFO and will hold both roles concurrently. Shares of Tesla were trading down nearly 3% on… Continue reading Tesla CFO Zach Kirkhorn steps down
Vietnam’s EV ownership will see ‘strong growth’ in 2023, says new report
VinFast LLC’s EV VF8 vehicles. Linh Pham | Bloomberg | Getty Images Vietnam’s electric vehicle market appears poised for rapid expansion in the next decade, but there could be significant headwinds blunting that growth. According to BMI Research, a Fitch Solutions research unit, passenger EV sales in the country is expected to at least double this year.… Continue reading Vietnam’s EV ownership will see ‘strong growth’ in 2023, says new report
X, formerly Twitter, commandeers ‘@music’ handle from user with half a million followers
Lorenzo Di Cola | Nurphoto | Getty Images Social network Twitter, recently rebranded as X, has commandeered the handle “@music” from open-source software developer Jeremy Vaught, who told CNBC he created the account in 2007, and had built a community of around half a million followers there. While Elon Musk-led X gave Vaught no choice… Continue reading X, formerly Twitter, commandeers ‘@music’ handle from user with half a million followers
Nikola shares sink 26% after messy second quarter, CEO departure and news of a stock sale
Nikola TRE FCEV2 Courtesy: Nikola Shares of electric truck maker Nikola fell more than 26% Friday after a complicated second-quarter report, news of a CEO departure and shareholder approval to issue new stock. Nikola said Friday its CEO, Michael Lohscheller, will step down effective immediately due to a “family health matter.” Nikola’s current board chair,… Continue reading Nikola shares sink 26% after messy second quarter, CEO departure and news of a stock sale
Fisker’s loss narrows as EV deliveries begin despite supplier snags
Fisker began deliveries of its battery-electric Ocean SUV in the second quarter of 2023. Courtesy: Fisker Electric vehicle startup Fisker on Friday reported a second-quarter loss that was narrower than expected, despite struggling to get the electric Ocean SUV into full production during the period amid supplier issues. Shares of Fisker fell more than 7%… Continue reading Fisker’s loss narrows as EV deliveries begin despite supplier snags
Automakers promote advanced tech to compete in China — the world’s top EV market
An XPeng Inc. G9 electric vehicle at the Shanghai Auto Show in Shanghai, China, on Monday, April 24, 2023. Qilai Shen | Bloomberg | Getty Images Global electric vehicle makers are tapping advanced technology to vie with each other and domestic brands in the intensively competitive Chinese market. China is the world’s largest EV market… Continue reading Automakers promote advanced tech to compete in China — the world’s top EV market
Nikola wins shareholder approval to issue new stock, paving the way for significant fundraise
Nikola Tre BEV Courtesy: Nikola Electric truck maker Nikola won shareholder approval to issue new stock, the company said late on Thursday. The vote paves the way for Nikola to raise additional funds to support the launch of its fuel-cell-powered electric Tre semitruck and the buildout of a hydrogen refueling network in the U.S. and Canada.… Continue reading Nikola wins shareholder approval to issue new stock, paving the way for significant fundraise
EVgo revenue beats analyst expectations as private-label charging business booms
A view of an EVgo EV charging station on July 28, 2023 in Corte Madera, California. Justin Sullivan | Getty Images EV charging network operator EVgo on Wednesday reported second-quarter revenue that beat Wall Street’s expectations and posted a narrower-than-expected loss, as more EV drivers used its network and revenue from its private-label eXtend unit boomed. EVgo… Continue reading EVgo revenue beats analyst expectations as private-label charging business booms