A XPeng Inc. G6 electric sport utility vehicle (SUV). The company is hoping the release of the new car will boost sales which plunged in the first quarter. Qilai Shen | Bloomberg | Getty Images Shares of Xpeng were higher Monday in the U.S. after the Chinese electric vehicle maker reported a quarterly return to… Continue reading Shares of Chinese Tesla rival Xpeng climb as EV deliveries return to growth
Author: CNBC Online news
Tesla reported 466,140 deliveries for the second quarter, and production of 479,700 vehicles
Tesla posted its second-quarter vehicle production and delivery report for 2023 on Sunday. Here are the key numbers from the electric vehicle maker: Total deliveries Q2 2023: 466,140 Total production Q2 2023: 479,700 The numbers beat analysts’ expectations and indicate that deliveries rose 83% year-over-year for Tesla after Elon Musk’s auto business added manufacturing capacity, and… Continue reading Tesla reported 466,140 deliveries for the second quarter, and production of 479,700 vehicles
With just 8% of new vehicles costing under $30,000, ‘it’s the least affordable car market in modern history,’ expert says
watch now Car shoppers like luxury Well before the Covid-19 pandemic, consumer tastes had started to steadily shift away from sedans toward more expensive SUVs and trucks. Then, car buyers piled on options, such as high-tech touch screens, ambient lighting, 360-degree cameras and heated and cooled seats. “There’s a war of features,” said Ivan Drury,… Continue reading With just 8% of new vehicles costing under $30,000, ‘it’s the least affordable car market in modern history,’ expert says
Why Ford says new high-tech features for its Super Duty trucks will save marriages
2023 Ford Super Duty F-350 Limited Ford DETROIT — Let’s set a scene: A pickup driver and their spouse, the truck in reverse, attempting to align the hitch ball on the pickup with a coupler on the trailer. “A little left. No, your left. No, YOUR left. OK, now a little right. Never mind. Let’s… Continue reading Why Ford says new high-tech features for its Super Duty trucks will save marriages
Why the electric vehicle boom could put a major strain on the U.S. power grid
Over half of all new cars sold in the U.S. by 2030 are expected to be electric vehicles. That could put a major strain on our nation’s electric grid, an aging system built for a world that runs on fossil fuels. Domestic electricity demand in 2022 is expected to increase up to 18% by 2030… Continue reading Why the electric vehicle boom could put a major strain on the U.S. power grid
Polestar is the latest EV maker to announce a move to Tesla’s North American charging standard
The Polestar 2, a battery-electric crossover SUV. Polestar owners in North America will have access to Tesla’s charging network starting next year. Source: Polestar Swedish electric vehicle maker Polestar said Thursday that it has signed a deal with Tesla that will allow drivers of its EVs to charge at about 12,000 Tesla charging stations in… Continue reading Polestar is the latest EV maker to announce a move to Tesla’s North American charging standard
Volvo just became the latest EV maker to move to Tesla’s charging standard
Volvo EX30, a small electric crossover SUV, is expected to arrive in the U.S. next year. Courtesy: Volvo Swedish automaker Volvo Cars said Tuesday that it has signed a deal with Tesla that will allow drivers of its electric vehicles to charge at about 12,000 Tesla charging stations in North America starting next year. Under… Continue reading Volvo just became the latest EV maker to move to Tesla’s charging standard
Lordstown Motors files for bankruptcy, sues Foxconn over $170 million funding deal
The Lordstown Motors Corp. Endurance electric pickup truck is displayed during an unveiling event in Lordstown, Ohio, June 25, 2020. Matthew Hatcher | Bloomberg | Getty Images Struggling electric-truck maker Lordstown Motors filed for Chapter 11 bankruptcy protection Tuesday and said that it would put itself up for sale amid an ongoing dispute over investments… Continue reading Lordstown Motors files for bankruptcy, sues Foxconn over $170 million funding deal
Ford conducts engineering layoffs in U.S. and Canada
Ford CEO Jim Farley at a battery lab for the automaker in suburban Detroit, announcing a new $3.5 billion electric vehicle battery plant in the state to produce lithium iron phosphate batteries, Feb. 13, 2023. Michael Wayland/CNBC DETROIT — Ford Motor confirmed Monday it will carry out layoffs this week, primarily affecting engineering jobs in… Continue reading Ford conducts engineering layoffs in U.S. and Canada
The Investing Club’s top 10 things to watch in the stock market Monday
1. Stock futures were muted heading into the final week of June and the second quarter. The market is coming off a week that saw all three major indices fall by at least 1%, ending multi-week winning streaks. 2. Tesla (TSLA) gets hit with another downgrade after the stock’s roughly 24% rise since the start… Continue reading The Investing Club’s top 10 things to watch in the stock market Monday