Carlos Tavares, Chief Executive Officer of Stellantis, poses during a presentation at the New York International Auto Show, in Manhattan, New York City, April 5, 2023. David Dee Delgado | Reuters DETROIT — Stellantis is offering voluntary buyouts to about 33,500 U.S. employees, as the global automaker attempts to cut costs and head count. The… Continue reading Chrysler parent Stellantis offering buyouts to 33,500 U.S. employees
Author: CNBC Online news
Electric car sales surged by 55% last year to surpass 10 million, and China led the way: IEA
Electric vehicles from Tesla photographed in China. The world’s second largest economy is a major player when it comes to the sale of electric vehicles. Vcg | Visual China Group | Getty Images Electric car sales jumped to more than 10 million last year, with China accounting for roughly 60% of the market, according to… Continue reading Electric car sales surged by 55% last year to surpass 10 million, and China led the way: IEA
China’s EV players are starting to compete on driver assist tech
Huawei’s co-developed Aito electric car brand is now selling an updated version of the M5 model that comes with new driver-assist tech. Bloomberg | Bloomberg | Getty Images BEIJING — Companies in China are playing up assisted driving technology as a way to compete in the hot electric car market. Around the Shanghai auto show… Continue reading China’s EV players are starting to compete on driver assist tech
Cruise robotaxis now run all day in San Francisco, with public access after 10 p.m.
A Cruise vehicle in San Francisco, California, on Wednesday Feb. 2, 2022. David Paul Morris | Bloomberg | Getty Images Kyle Vogt, CEO and founder of GM-owned autonomous vehicle company Cruise, announced Tuesday that the company’s robotaxis are now running around the clock in San Francisco. The company’s paid, driverless service is a step towards… Continue reading Cruise robotaxis now run all day in San Francisco, with public access after 10 p.m.
Lucid’s Gravity SUV is taking another step toward production with tests on public roads
Lucid showing a preproduction version of the Gravity, a luxury electric SUV, testing on US public roads. The Gravity is expected to begin shipping in 2024. Courtesy: Lucid Luxury electric-vehicle maker Lucid Group said Tuesday that it has begun testing its next model, a large SUV called Gravity, on public roads in the U.S., a… Continue reading Lucid’s Gravity SUV is taking another step toward production with tests on public roads
GM to end production of electric Chevy Bolt, its first mass-market EV, later this year
UAW Local 5960 member Kimberly Fuhr inspects a Chevrolet Bolt EV during vehicle production on May 6, 2021, at the General Motors Orion Assembly Plant in Orion Township, Michigan. Steve Fecht for Chevrolet DETROIT – General Motors plans to stop production of its electric Chevrolet Bolt models by the end of this year, CEO Mary… Continue reading GM to end production of electric Chevy Bolt, its first mass-market EV, later this year
General Motors raises 2023 guidance as first-quarter earnings beat expectations
General Motors CEO Mary Barra, center, at the New York Stock Exchange, Nov. 17, 2022. Source: NYSE DETROIT — General Motors on Tuesday raised key guidance for 2023 after reporting first-quarter results that topped Wall Street’s top- and bottom-line forecasts. Here’s how GM did, compared with what Wall Street expected based on average estimates compiled… Continue reading General Motors raises 2023 guidance as first-quarter earnings beat expectations
Are gas-powered or electric vehicles a better deal? EVs may win out in long run, experts say
Halfpoint Images | Moment | Getty Images Sales of electric cars are poised for a boom, spurred by factors such as federal policy, technological advances and environmental concerns. To that point, 41% of Americans are at least somewhat likely to buy an electric vehicle as their next car, according to a recent poll from the… Continue reading Are gas-powered or electric vehicles a better deal? EVs may win out in long run, experts say
Why Porsche, Mercedes and GM are betting on silicon-anode batteries
Lithium-ion battery performance has hit a plateau in recent years, but a breakthrough in technology promises new heights are soon to be in sight. Batteries made with silicon instead of graphite — the commonly used material in battery anodes today — have been shown to enable significantly higher energy density and faster charging. “Silicon anode… Continue reading Why Porsche, Mercedes and GM are betting on silicon-anode batteries
Elon Musk had a rough week across his empire — Tesla, Twitter and SpaceX
Theo Wargo | Wireimage | Getty Images A rough week for Elon Musk was capped Friday when institutional shareholders in Tesla admonished the company’s board of directors to rein in an “over-committed” CEO in an open letter. The letter follows the midair explosion of the SpaceX Starship rocket in its first test flight Thursday and… Continue reading Elon Musk had a rough week across his empire — Tesla, Twitter and SpaceX