watch now Ford CEO Jim Farley is frustrated. The company’s fourth-quarter earnings on Thursday missed analyst expectations by a wide margin, as costs and supply chain issues again hurt Ford’s bottom line, Farley knows his company needs to change. related investing news “We have to change our cost profile,” Farley told CNBC after a call… Continue reading Ford CEO Jim Farley’s frustration builds as he vows to transform the automaker
Author: CNBC Online news
Chinese Tesla rival Xpeng launches flagship EVs in Europe in international push
Xpeng is pushing aggressively into international markets. The Chinese electric car start-up launched its P7 sedan and G9 SUV in Denmark, Norway, the Netherlands and Sweden. Zhang Peng | LightRocket | Getty Images Xpeng, a Chinese electric vehicle startup, on Friday launched two of its flagship cars across a number of European countries, as it… Continue reading Chinese Tesla rival Xpeng launches flagship EVs in Europe in international push
Ford posts ugly fourth quarter, full-year net loss as ‘execution issues’ plague production
Ford CEO Jim Farley takes off his mask at the Ford Built for America event at Fords Dearborn Truck Plant on September 17, 2020 in Dearborn, Michigan. Nic Antaya | Getty Images DETROIT – Ford Motor reported an ugly fourth quarter, missing Wall Street’s earnings expectations and falling short of its own full-year guidance by… Continue reading Ford posts ugly fourth quarter, full-year net loss as ‘execution issues’ plague production
Ford’s U.S. sales start 2023 on strong footing, boosted by F-Series and Bronco
Ford workers produce the electric F-150 Lightning pickup on Dec. 13, 2022 at the automaker’s Ford Rouge Electric Vehicle Center (REVC). Michael Wayland | CNBC DETROIT — Ford Motor‘s new U.S. vehicle sales started 2023 on a stronger footing than a year earlier but were down 18.4% from December, the company reported Thursday. January is… Continue reading Ford’s U.S. sales start 2023 on strong footing, boosted by F-Series and Bronco
Ferrari’s profits jump 13% in 2022, supercar maker expects an even better year in 2023
Ferrari CEO Benedetto Vigna poses for a photograph as Ferrari unveils a new long term strategy, in Maranello, Italy, June 15, 2022. Flavio Lo Scalzo | Reuters Ferrari on Thursday reported full-year profit up 13% year over year and guided to an even stronger year in 2023 on what its CEO called “persistently high demand”… Continue reading Ferrari’s profits jump 13% in 2022, supercar maker expects an even better year in 2023
Saudi Aramco backs Brooklyn-based startup turning ammonia into fuel
In the race to find cleaner fuels, the heavy duty transportation sector is woefully behind because batteries don’t have enough juice to power trucks and ships. Enter ammonia. New technology and new companies are working on turning ammonia into hydrogen to power tractors, trucks and even ships. The heavy duty trucking industry alone accounts for… Continue reading Saudi Aramco backs Brooklyn-based startup turning ammonia into fuel
Rivian to lay off 6% of its workforce as EV price war concerns grow
Workers inspect a Rivian R1T electric vehicle (EV) pickup truck on the assembly line at the company’s manufacturing facility in Normal, Illinois, US., on Monday, April 11, 2022. Jamie Kelter Davis | Bloomberg | Getty Images Electric truck maker Rivian Automotive said it is laying off 6% of its workforce in a bid to conserve… Continue reading Rivian to lay off 6% of its workforce as EV price war concerns grow
General Motors doesn’t expect significant U.S. production of EVs until second half of year
Production is now set to begin at the former Detroit-Hamtramck assembly plant, less than two years after GM announced the massive $2.2 billion investment to fully renovate the facility to build a variety of all-electric trucks and SUVs. Photo by Jeffrey Sauger for General Motors DETROIT – When General Motors launched the GMC Hummer EV… Continue reading General Motors doesn’t expect significant U.S. production of EVs until second half of year
The ‘land grab’ for lithium is just getting started with GM deal, says EV materials expert
Brine pools at the Albemarle Corp. Lithium mine in Calama, Antofagasta region, Chile, on Tuesday, July 20, 2021. Cristobal Olivares | Bloomberg | Getty Images General Motors‘ announcement on Tuesday that it plans to invest $650 million into Lithium Americas to secure access to lithium is probably the first of many such deals, according to Simon Moores,… Continue reading The ‘land grab’ for lithium is just getting started with GM deal, says EV materials expert
GM to invest $650 million in a lithium company to support its electric vehicle business
US President Joe Biden, with General Motors CEO Mary Barra, looks at a Chevrolet Silverado EV as he tours the 2022 North American International Auto Show at Huntington Place Convention Center in Detroit, Michigan on September 14, 2022. – Biden is visiting the auto show to highlight electric vehicle manufacturing. Mandel Ngan | Afp |… Continue reading GM to invest $650 million in a lithium company to support its electric vehicle business