A traveler arriving at Los Angeles International Airport looks for ground transportation during a statewide day of action to demand that ride-hailing companies Uber and Lyft follow California law and grant drivers “basic employee rights” in Los Angeles, California, U.S., August 20, 2020. Mike Blake | Reuters Ride-sharing app Lyft will lay off a significant… Continue reading Lyft’s new CEO begins tenure with layoffs, reportedly cutting 1,200 jobs
Author: CNBC Online news
Jim Cramer’s top 10 things to watch in the stock market Friday
1. Truist downgraded Tesla (TSLA) to hold from buy, while lowering its price target to $154 per share, from $245. The firm cited the electric vehicle maker’s “brazen willingness to accept lower product margins.” Meanwhile, Barclays lowered its price target on Tesla to $220 per share, from $230, but maintained an overweight rating on the… Continue reading Jim Cramer’s top 10 things to watch in the stock market Friday
Tesla shares fall nearly 10% after earnings decline from year-ago quarter
Tesla CEO Elon Musk attends the official opening of the new Tesla electric car manufacturing plant on March 22, 2022 near Gruenheide, Germany. The new plant, officially called the Gigafactory Berlin-Brandenburg, is producing the Model Y as well as electric car batteries. Christian Marquardt – Pool/Getty Images Shares of electric vehicle manufacturer Tesla fell nearly… Continue reading Tesla shares fall nearly 10% after earnings decline from year-ago quarter
Ford F-150 Lightning fire footage highlights a growing EV risk
watch now DEARBORN, Mich. — New video footage of a fire involving a Ford F-150 Lightning this year highlights a growing concern around electric vehicles: volatile fires from the batteries that power them. The previously unreleased footage, which CNBC obtained through Michigan’s Freedom of Information Act from the Dearborn Police Department, shows smoke billowing from… Continue reading Ford F-150 Lightning fire footage highlights a growing EV risk
Toyota reveals two more electric cars for China
Toyota displays a new concept electric car — developed jointly with BYD and FAW — at the Shanghai auto show in April 2023. CNBC | Evelyn Cheng BEIJING — Toyota this week began taking orders for its first electric sedan in China, and announced two more models are set to come to the local market… Continue reading Toyota reveals two more electric cars for China
Automaker Stellantis hires ex-Adidas, grocery executive as CFO
The logo of Stellantis, the world’s fourth-largest automaker which starts trading in Milan and Paris after Fiat Chrysler and Peugeot maker PSA finalised their merger, is seen at the main entrance of FCA Mirafiori plant in Turin, Italy, January 18, 2021. Massimo Pinca | Reuters Stellantis on Wednesday said it has hired the chief financial… Continue reading Automaker Stellantis hires ex-Adidas, grocery executive as CFO
Tesla net income and earnings drop more than 20% from last year
Employees of the Tesla Gigafactory Berlin Brandenburg work on the final inspection of the finished Model Y electric vehicles. The Tesla plant was opened and put into operation on March 22, 2022. Patrick Pleuil | Picture Alliance | Getty Images Shares in electric vehicle makers Tesla dropped 4% after the company reported first-quarter earnings after… Continue reading Tesla net income and earnings drop more than 20% from last year
Chinese EV giant BYD says self-driving tech is more valuable for factories than cars
BYD’s new luxury brand Yangwang is selling its first model, the U8, for more than 1 million yuan ($160,000). CNBC | Evelyn Cheng SHANGHAI — Fully autonomous driving is “basically impossible” and the technology would be better applied to manufacturing, according to Chinese battery and electric car company BYD. Many electric car and tech companies… Continue reading Chinese EV giant BYD says self-driving tech is more valuable for factories than cars
The Swedish rival to Tesla’s Semi scores a deal with PepsiCo to deliver snacks in the UK
Swedish electric vehicle maker Einride will supply two of its heavy-duty trucks to PepsiCo as part of an expansion into the U.K. Einride Swedish electric vehicle manufacturer Einride has signed a deal with PepsiCo to supply electric trucks that would transport Walkers chips in the U.K. It marks Einride’s first move into the U.K. market,… Continue reading The Swedish rival to Tesla’s Semi scores a deal with PepsiCo to deliver snacks in the UK
Some electric vehicles from BMW, Nissan, Hyundai and Volkswagen will no longer get federal tax credits
An electric vehicle is charged in Monterey Park, California, on April 12, 2023. – US President Joe Biden’s administration unveiled new proposed auto emissions rules, aiming to accelerate the electric vehicle transition with a target of two-thirds of the new US car market by 2032. Frederic J. Brown | AFP | Getty Images Fewer electric… Continue reading Some electric vehicles from BMW, Nissan, Hyundai and Volkswagen will no longer get federal tax credits