watch now Shares of Carvana plummeted by more than 40% during trading Wednesday after the embattled online used car retailer’s largest creditors signed a deal binding them to act together in negotiations with the company. The pact, as first reported by Bloomberg, includes creditors such as Apollo Global Management and Pacific Investment Management that hold… Continue reading Carvana shares tank as bankruptcy concerns grow for used car retailer
Author: CNBC Online news
Vietnamese EV maker VinFast files to go public in the U.S.
The VF-8 electric vehicle from VinFast, a Vietnamese automaker producing electric cars and SUV’s, is on display at their showroom in Santa Monica, California, on July 18, 2022. Frederic J. Brown | AFP | Getty Images Vietnamese EV maker VinFast is going public in the U.S. VinFast on Tuesday said it has filed a registration… Continue reading Vietnamese EV maker VinFast files to go public in the U.S.
GM battery plant workers to vote on union representation in labor test for the EV industry
Striking United Auto Workers members and supporters attend a speech by Vermont Sen. Bernie Sanders outside General Motors’ Detroit-Hamtramck Assembly plant on Sept. 25, 2019 in Detroit. Michael Wayland / CNBC DETROIT — The United Auto Workers union will for the first time this week attempt to organize a major electric vehicle battery plant for… Continue reading GM battery plant workers to vote on union representation in labor test for the EV industry
Self-driving truck startup Kodiak Robotics wins $50 million deal to help develop driverless Army vehicles
Kodiak Robotics truck in front of an IKEA store. Source: Kodiak Robotics Self-driving truck startup Kodiak Robotics said Tuesday that it won a two-year, $49.9 million contract from the U.S. Department of Defense to help develop automated combat vehicles for the U.S. Army. The company said the vehicles will be tailored for reconnaissance, surveillance and… Continue reading Self-driving truck startup Kodiak Robotics wins $50 million deal to help develop driverless Army vehicles
GM continues to evaluate Twitter advertising suspension following Musk takeover
watch now General Motors continues to monitor Twitter and evaluate its decision to suspend advertising on the social media platform following Elon Musk’s takeover of the company, CEO Mary Barra told CNBC Tuesday. Barra said that the automaker’s decision to suspend advertising in October was in part an effort to protect its brands but was… Continue reading GM continues to evaluate Twitter advertising suspension following Musk takeover
Ford CEO says 65% of U.S. dealers agree to sell EVs under company’s investment programs
Ford F-150 Lightning trucks manufactured at the Rouge Electric Vehicle Center in Dearborn Michigan. Courtesy: Ford Motor Co. DETROIT – About 65% of Ford Motor’s dealers have agreed to sell electric vehicles as the company invests billions to expand production and sales of the battery-powered cars and trucks, CEO Jim Farley said Monday. About 1,920… Continue reading Ford CEO says 65% of U.S. dealers agree to sell EVs under company’s investment programs
DHL buying Ford E-Transit cargo vans showcases the automaker’s electric vehicle strategy
Delivery giant DHL and Club holding Ford Motor (F) struck an electric van and software deal that bolsters the automaker’s multipronged EV strategy, an approach that’s central to why we own the stock. The news DHL will acquire 2,000 Ford E-Transit cargo vans by the end of 2023, the companies announced Monday. The agreement also includes… Continue reading DHL buying Ford E-Transit cargo vans showcases the automaker’s electric vehicle strategy
These 10 cars have the greatest potential lifespan — and 6 are Toyotas
watch now New cars are getting increasingly expensive. But they’re also more durable than before, which means drivers have a better chance of getting their money’s worth. As the average transaction price for new cars reached an estimated $45,872 in November — the highest on record, according to a joint forecast from J.D. Power and LMC… Continue reading These 10 cars have the greatest potential lifespan — and 6 are Toyotas
GM, LG investing $275 million to expand Tennessee EV battery plant
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 General Motors and LG Energy Solution will spend an additional $275 million in their joint venture battery plant in Tennessee to increase production by more… Continue reading GM, LG investing $275 million to expand Tennessee EV battery plant
Ford claims No. 2 spot in EVs behind Tesla – but gap remains wide
Ford F-150 Lightning pickup trucks sit on the production line at the Ford Rouge Electric Vehicle Center on April 26, 2022 in Dearborn, Michigan. Bill Pugliano | Getty Images DETROIT – Ford Motor said Friday that it has achieved CEO Jim Farley’s goal of becoming the second best-selling automaker of electric vehicles in the U.S.… Continue reading Ford claims No. 2 spot in EVs behind Tesla – but gap remains wide