Ford CEO Jim Farley announces at a press conference that Ford Motor Company will be partnering with the worlds largest battery company, a China-based company called Contemporary Amperex Technology, to create an electric-vehicle battery plant in Marshall, Michigan, on February 13, 2023 in Romulus, Michigan. Bill Pugliano | Getty Images News | Getty Images DETROIT… Continue reading Lawmakers seek review of Ford partnership with Chinese battery supplier
Author: CNBC Online news
EV battery plants emerge as wild card issue in UAW contract talks
General Motors revealed its all-new modular platform and battery system, Ultium, on March 4, 2020 at its Tech Center campus in Warren, Michigan. Photo by Steve Fecht for General Motors DETROIT – In already-contentious labor talks between the United Auto Workers union and major automakers, there’s a wild-card issue hanging over the discussions. Multibillion-dollar EV… Continue reading EV battery plants emerge as wild card issue in UAW contract talks
How BMW uses A.I. to make vehicle assembly more efficient
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
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