A Mercedes-Benz van retrofitted with different types of lidar systems, including Luminar’s Iris, to showcase the differences in the technologies. Michael Wayland / CNBC Lidar maker Luminar Technologies, stung by a recent Wall Street downgrade, is responding in an unusual way: taking its case directly to the shareholders. In a letter seen by CNBC on… Continue reading Luminar CFO defends lidar maker’s pricing and revenue in the wake of a Goldman downgrade
Author: CNBC Online news
Ford plans to build 500,000 EVs annually at its $5.6 billion Tennessee campus
Ford’s BlueOval City electric vehicle and battery manufacturing campus in West Tennessee is scheduled to begin production in 2025. It will be home to Ford’s second-generation electric truck, code named Project T3, and will be capable of producing 500,000 EV trucks a year at full production. Ford Ford Motor’s new plant being constructed outside Memphis,… Continue reading Ford plans to build 500,000 EVs annually at its $5.6 billion Tennessee campus
Lidar maker Ouster dips as quarterly losses widen, but CEO sees savings in Velodyne merger
The New York Stock Exchange welcomes Ouster Inc. (NYSE: OUST), today, Friday, March 12, 2021, in celebration of its Initial Listing. To honor the occasion, Ouster CEO Angus Pacala, joined by Chris Taylor, Vice President, NYSE Listings and Services, rings The Opening Bell®. NYSE Lidar maker Ouster said on Thursday that it remains on track… Continue reading Lidar maker Ouster dips as quarterly losses widen, but CEO sees savings in Velodyne merger
Apple, Ford and Estee Lauder are in the news Thursday. Here are our takes
Ford Motor Co., CEO Jim Farley gives the thumbs up sign before announcing Ford Motor will partner with Chinese-based, Amperex Technology, to build an all-electric vehicle battery plant in Marshall, Michigan, during a press conference in Romulus, Michigan February 13, 2023. Rebecca Cook | Reuters Go to Source
How Ford plans to turn a profit on EVs in under four years
John Lawler, Chief Financial Officer of Ford, rings the opening bell at the New York Stock Exchange (NYSE), March 23, 2023. Brendan McDermid | Reuters Ford Motor disclosed Thursday that its electric vehicle unit, called Ford Model e, lost $2.1 billion in 2022 — and could lose as much as $3 billion in 2023. But… Continue reading How Ford plans to turn a profit on EVs in under four years
Ford’s EV business lost $2 billion in 2022, offset by big profits in fleet and legacy units
The badge of a Ford Motor Co. E-Transit electric vehicle during a presentation in Washington, D.C., U.S., on Wednesday, July 28, 2021. Al Drago | Bloomberg | Getty Images Ford Motor said Thursday its electric vehicle business lost $2.1 billion last year on an operating basis, a loss that was more than offset by $10… Continue reading Ford’s EV business lost $2 billion in 2022, offset by big profits in fleet and legacy units
Cruise robotaxis blocked a road in San Francisco after a storm downed trees and wires
General Motors‘ self-driving vehicle unit Cruise acknowledged that some of its cars stalled out on city streets in San Francisco following rainstorms that downed trees there on Tuesday night. A witness to the Cruise robotaxi failures, John-Phillip Bettencourt, shared photos of the stalled vehicles on Twitter. He told CNBC that around 1:45 p.m. on March… Continue reading Cruise robotaxis blocked a road in San Francisco after a storm downed trees and wires
The Chevrolet Camaro as you know it will fall out of production next year, GM says
The Chevrolet Camaro ZL1 starts at about $62,000 and is powered by a 650-horsepower V8 engine, a considerable upgrade over the roughly $26,000 base model. Source: General Motors DETROIT – General Motors will end production of the Chevrolet Camaro in its current form early next year, as the automaker transitions to all-electric vehicles. The Detroit automaker did… Continue reading The Chevrolet Camaro as you know it will fall out of production next year, GM says
Carvana shares pop as company offers first-quarter guidance, restructures debt
A Carvana glass tower sits illuminated on Feb. 23, 2022, in Oak Brook, Illinois. Armando L. Sanchez | Tribune News Service | Getty Images Shares of Carvana popped during early trading Wednesday after the embattled used car retailer pre-announced guidance for the first quarter and released plans to restructure some of its $9 billion debt… Continue reading Carvana shares pop as company offers first-quarter guidance, restructures debt
Ford is about to break out big EV losses for the first time
Incoming Ford CEO Jim Farley (left) and Ford Executive Chairman Bill Ford Jr. pose with a 2021 F-150 during an event Sept. 17, 2020 at the company’s Michigan plant that produces the pickup. Michael Wayland | CNBC DETROIT – Ford Motor is about to tell investors what they’ve long wondered: How much is the transition… Continue reading Ford is about to break out big EV losses for the first time