Artificial intelligence is making a big effect on the auto industry. Revenue from sales of autonomous vehicles is anticipated to top $70 billion by 2033, according to Future Market Insights. But self-driving cars powered by AI are not the only change — AI technology is already being infused into vehicle production. related investing news As… Continue reading How BMW uses A.I. to make vehicle assembly more efficient
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Why Tesla investors should care about Elon Musk’s multiplying ventures
Tesla CEO Elon Musk and his security detail depart the company’s local office in Washington, January 27, 2023. Jonathan Ernst | Reuters Elon Musk‘s multiple ventures and the relationships between them are facing increased scrutiny as the Tesla CEO continues to add more to his plate. During Tesla’s second-quarter earnings call on Wednesday, Truist analyst… Continue reading Why Tesla investors should care about Elon Musk’s multiplying ventures
How the Middle East is preparing for the post-oil, EV era of transportation
U.S. electric vehicle maker Lucid Group will set up its first overseas factory in Saudi Arabia, the company announced. Javier Blas | Bloomberg | Getty Images When BlackRock, the world’s largest asset manager, announced this week it was adding the head of the world’s largest oil company, Saudi Aramco, to its board of directors, some… Continue reading How the Middle East is preparing for the post-oil, EV era of transportation
Tesla books record revenue of $24.9 billion with margin declining after price cuts
Chief Executive Officer of SpaceX and Tesla and owner of Twitter, Elon Musk attends the Viva Technology conference dedicated to innovation and startups at the Porte de Versailles exhibition centre on June 16, 2023 in Paris, France. Chesnot | Getty Images Tesla reported earnings after the bell, showing a record for quarterly revenue but lower… Continue reading Tesla books record revenue of $24.9 billion with margin declining after price cuts
India’s Tata Group to build $5 billion gigafactory in the UK
A Tata Motors concept EV on show at the India Auto Expo 2023 on Jan. 12, 2023. Anindito Mukherjee | Bloomberg | Getty Images The Tata Group will develop a major facility for the production of electric car batteries in the U.K., with the Indian conglomerate set to invest more than £4 billion (around $5.17… Continue reading India’s Tata Group to build $5 billion gigafactory in the UK
Carvana shares jump 40% on deal to reduce debt by $1.2 billion
A Carvana glass tower sits illuminated in Oak Brook, Illinois, Feb. 23, 2022. Armando L. Sanchez | Tribune News Service | Getty Images Carvana has reached a debt restructuring agreement that will reduce the used car retailer’s total debt outstanding by more than $1.2 billion, the company said Wednesday. Carvana said the agreement will eliminate… Continue reading Carvana shares jump 40% on deal to reduce debt by $1.2 billion
A key bank stock soars, but Cramer sticks to his discipline
Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Tuesday’s key moments. Watch Morgan Stanley Hold Eli Lilly Buy Ford 1. Watch Morgan Stanley Bank stocks climbed higher Tuesday, as Club holding Morgan Stanley (MS) delivered an earnings beat. Equities more broadly… Continue reading A key bank stock soars, but Cramer sticks to his discipline
Jim Cramer explains Ford’s electric vehicle price cuts
watch now CNBC’s Jim Cramer on Monday analyzed Ford Motor‘s move to slash prices for its electric F-150 Lightning pickup truck. Cramer said he thinks the price cuts are due at least in part to the novelty of EVs wearing off for many Americans. Ford announced on Monday it would cut prices for all versions… Continue reading Jim Cramer explains Ford’s electric vehicle price cuts
Here are the questions we have for Ford and its CEO Jim Farley about their latest EV price cuts
We’re raising our eyebrows at Ford ‘s (F) new price cuts on its popular electric pick-up truck. The move appears to challenge the automaker’s claims that the F-150 Lightning is in high demand. Ford announced Monday it will cut prices on the Lightning between 7% and 17% depending on the model. The base, which was… Continue reading Here are the questions we have for Ford and its CEO Jim Farley about their latest EV price cuts
GM redesigns Chevy Traverse crossover, adds hands-free driving technology
2024 Chevrolet Traverse LANSING, Mich. – General Motors on Monday revealed a redesigned version of its popular Chevrolet Traverse crossover with a more truck-like appearance that the company hopes will attract new buyers. The 2024 Chevy Traverse’s exterior features a more sculptured design than the smoother outgoing model. It also adds an off-road-inspired Z71 model… Continue reading GM redesigns Chevy Traverse crossover, adds hands-free driving technology