watch now Shares of Vietnamese electric vehicle maker VinFast began trading on the Nasdaq on Tuesday, following completion of its merger with the U.S.-listed special purpose acquisition company Black Spade Acquisition. VinFast’s new U.S. shares opened at $22 on Tuesday and rose sharply to end the day at $37.06 for a gain of over 68%.… Continue reading Vietnamese EV maker VinFast debuts on the Nasdaq after completing SPAC merger
Author: CNBC Online news
China is on course to overtake Japan and become the world’s No.1 car exporter
China, automobile, vehicles Vcg | Visual China Group | Getty Images China is on course to overtake Japan as the world’s top auto exporter by the end of 2023, according to Moody’s Analytics. “China made heads turn through the pandemic as it strutted past South Korea in 2021 and Germany in 2022, making it the… Continue reading China is on course to overtake Japan and become the world’s No.1 car exporter
Biden urges ‘fair agreement’ between UAW and Detroit automakers that avoids plant closures
Speaking in front of a backdrop of American-made vehicles and a UAW sign, President Joe Biden, then a presidential candidate, speaks about new proposals to protect U.S. jobs during a campaign stop in Warren, Michigan, Sept. 9, 2020. Leah Millis | Reuters DETROIT – President Joe Biden is calling for a “fair agreement” between the… Continue reading Biden urges ‘fair agreement’ between UAW and Detroit automakers that avoids plant closures
Cruise vehicles cause weekend traffic jam one day after California approves 24-7 robotaxi service
In an aerial view, Chevrolet Cruise autonomous vehicles sit parked in a staging area on June 08, 2023 in San Francisco, California. Autonomous vehicle companies Cruise and Waymo have been testing their vehicles throughout San Francisco and residents are not happy with the problems that the cars are bringing to the city. Justin Sullivan |… Continue reading Cruise vehicles cause weekend traffic jam one day after California approves 24-7 robotaxi service
Nikola shares fall after EV maker recalls all of its battery-electric semitrucks following a fire
A battery-electric Nikola Tre semitruck. Nikola is recalling all of the battery-electric Tres to repair a flaw in their battery packs that could start a fire. Five battery-electric Tres were destroyed in a fire at Nikola’s headquarters in June 2023. Courtesy: Nikola Shares of electric truck maker Nikola opened sharply lower Monday after the company… Continue reading Nikola shares fall after EV maker recalls all of its battery-electric semitrucks following a fire
Ford hires Apple veteran to lead consumer software efforts
An electric Ford truck is displayed during the Electrify Expo In D.C. on July 23, 2023 in Washington, DC. Nathan Howard | Getty Images DETROIT – Ford Motor said Monday that it has hired Apple veteran Peter Stern to lead a newly created division focused on developing and marketing software-enabled customer experiences for the automaker.… Continue reading Ford hires Apple veteran to lead consumer software efforts
Why Americans are struggling with car loans
There are more than 275 million cars on the road in the U.S. But in recent years, car ownership has gotten more expensive than ever — due to the Covid-19 pandemic, supply chain issues, stubborn inflation and the Federal Reserve’s interest rate hikes. “Outside of purchasing your first home, a new car … is the… Continue reading Why Americans are struggling with car loans
A totaled Tesla was sold for parts in the U.S. but came back online in Ukraine — here’s what happened
CNBC Executive Editor Jay Yarow’s Tesla Model X that was “totaled” in the U.S. late last year. Jay Yarow / CNBC A Tesla Model X totaled in the U.S. late last year suddenly came back online and started sending notifications to the phone of its former owner, CNBC Executive Editor Jay Yarow, months later. The car… Continue reading A totaled Tesla was sold for parts in the U.S. but came back online in Ukraine — here’s what happened
2025 Cadillac Escalade IQ, GM’s new all-electric SUV, starts at $130,000. Here’s a first look
watch now NEW YORK – Twenty-five years after the Cadillac Escalade launched General Motors into large, highly profitable luxury SUVs, the Detroit automaker is hoping a new all-electric version of the vehicle will ignite the same success for a new generation of luxury buyers. GM on Wednesday revealed the 2025 Cadillac Escalade IQ, an all-electric… Continue reading 2025 Cadillac Escalade IQ, GM’s new all-electric SUV, starts at $130,000. Here’s a first look
Indian automaker Mahindra says competition from Tesla ‘does not faze us’
Mahindra atom electric car at Auto Expo 2020, on February 5, 2020, in Greater Noida, India. Pradeep Gaur | Mint | Hindustan Times | Getty Images Mahindra Group isn’t worried about global players like Tesla entering India’s highly competitive electric vehicle market, its CEO and managing director Anish Shah told CNBC. “We’ve seen tremendous competition… Continue reading Indian automaker Mahindra says competition from Tesla ‘does not faze us’