Line workers work on the chassis of full-size General Motors pickup trucks at the Flint Assembly plant on June 12, 2019 in Flint, Michigan. JEFF KOWALSKY / AFP / Getty Images FLINT, Mich. — General Motors plans to invest nearly $1 billion in four U.S. plants to support production of components for electric vehicles as… Continue reading GM to invest $918 million in new V-8 gas engines and EV components
Author: CNBC Online news
Tesla will ‘keep blowing our minds’ despite Elon Musk’s distractions, shareholder Tencent says
A Tesla store in Changzhou, China, in April 2022. Tencent, known as one of the world’s largest gaming and social media firms, invested in Tesla in 2017, taking a 5% stake for around $1.78 billion. Sheldon Cooper | Sopa Images | Lightrocket | Getty Images Tesla will “keep blowing our minds” with technology even while… Continue reading Tesla will ‘keep blowing our minds’ despite Elon Musk’s distractions, shareholder Tencent says
Even with used-car prices falling, buyers are still paying more than $7,100 above ‘normal,’ report finds
Fotostorm | E+ | Getty Images There’s still a ways to go before used car prices come back down to earth. While prices were 8.8% lower in December from a year earlier, consumers continue to pay more for used cars than they would if typical depreciation expectations were in play, according to car-shopping app CoPilot,… Continue reading Even with used-car prices falling, buyers are still paying more than $7,100 above ‘normal,’ report finds
Why GM’s new Chevy Corvette is a hybrid and not an all-electric car
watch now DETROIT – General Motors’ future may be in all-electric vehicles, but it still needs its current models to pay the bills to allow it to invest in those new products. That’s one of the reasons why the automaker on Tuesday revealed the 2024 Chevrolet Corvette E-Ray – the first-ever “electrified,” or hybrid, version… Continue reading Why GM’s new Chevy Corvette is a hybrid and not an all-electric car
Hertz is bringing thousands of EVs and chargers to the city of Denver in a broad new partnership
Tesla Model 3 electric vehicles at a Hertz airport location. Photo by E.R. Davidson Hertz is teaming up with the city of Denver — and soon, it hopes, with other cities — to build out its charging infrastructure to support the ongoing transition to electric vehicles. The partnership is a big step toward helping rental… Continue reading Hertz is bringing thousands of EVs and chargers to the city of Denver in a broad new partnership
GM reveals new Chevy Corvette E-Ray hybrid sports car, starting at over $104,000
watch now DETROIT – General Motors’ first-ever “electrified” Corvette will be available later this year starting at more than $104,000, the automaker said Tuesday. The vehicle also will be all-wheel drive, another first for the quintessential American sports car. The carmaker said the E-Ray, which GM first confirmed to CNBC last year, will be the… Continue reading GM reveals new Chevy Corvette E-Ray hybrid sports car, starting at over $104,000
Toyota is investing $35 billion into EVs. But some say it may be too late.
The world’s largest automaker, Toyota, is battling criticism that it is not moving fast enough to reduce carbon emissions. Some even say it is opposing climate-mitigation efforts. But the automaker says it does believe in an all-electric future. It just maintains that future will not reach all of Toyota’s markets at the same time. related investing… Continue reading Toyota is investing $35 billion into EVs. But some say it may be too late.
10 auto industry predictions for investors to keep an eye on this year
A customer looks at a vehicle at a BMW dealership in Mountain View, California, on Dec. 14, 2022. David Paul Morris | Bloomberg | Getty Images DETROIT — Wall Street and industry analysts remain on high alert for signs of a “demand destruction” scenario for the U.S. automotive industry this year as interest rates rise… Continue reading 10 auto industry predictions for investors to keep an eye on this year
Tesla and the EV industry get their first recession stress test. Will it be a bust?
Pedestrians walk past the Tesla Motors official authorized car dealer store in Hong Kong. Sopa Images | Lightrocket | Getty Images Is the first electric-vehicle recession here, or coming soon? As electric-car stocks plummeted in late 2022, the rout evoked comparisons to the dot-com stock bust two decades ago. Like the internet industry then, the… Continue reading Tesla and the EV industry get their first recession stress test. Will it be a bust?
Are you buying ‘too much car’? Americans’ obsession with pricey options like touch screens is causing an affordability crisis
watch now If you haven’t shopped for a car lately, brace for sticker shock. Not only are vehicle prices at an all-time high, but the interest rate to finance a purchase has also jumped dramatically. A record 15% of new car buyers who financed a new car last quarter committed to a monthly payment of… Continue reading Are you buying ‘too much car’? Americans’ obsession with pricey options like touch screens is causing an affordability crisis