Ford workers produce the electric F-150 Lightning pickup on Dec. 13, 2022 at the automaker’s Ford Rouge Electric Vehicle Center (REVC). Michael Wayland | CNBC DETROIT – Ford Motor plans to restart production of its electric F-150 Lightning pickup on March 13 – more than a month after a battery issue caused one of the… Continue reading Ford plans to restart production of the electric F-150 Lightning on March 13
Author: CNBC Online news
Ford sales jump as supply chain issues improve
Ford Motor Co., CEO Jim Farley gives the thumbs up sign before announcing Ford Motor will partner with Chinese-based, Amperex Technology, to build an all-electric vehicle battery plant in Marshall, Michigan, during a press conference in Romulus, Michigan February 13, 2023. Rebecca Cook | Reuters DETROIT — Ford Motor’s February sales increased by more than… Continue reading Ford sales jump as supply chain issues improve
Tesla shares down nearly 6% after investor day despite positive analyst sentiment
Elon Musk speaking at Tesla Investor Day. Courtesy: Tesla Tesla shares continued sliding Thursday, a movement that began the prior day during the company’s investor day event, which provided investors with a long-term vision but lacked detail on new products or services. The electric vehicle manufacturer’s closed down Thursday over 5.8%, paring earlier losses, despite… Continue reading Tesla shares down nearly 6% after investor day despite positive analyst sentiment
Elon Musk is set to reveal ‘Master Plan Part 3’ at Tesla Investor Day after the bell
Elon Musk speaks at Tesla’s 2023 investor day on March 1. Screenshot Electric vehicle maker Tesla laid out its long-term vision at a 2023 Investor Day presentation in Austin, Texas, on Wednesday. CEO Elon Musk took the stage to share his “Master Plan 3,” and to discuss how Tesla plans to scale up in the… Continue reading Elon Musk is set to reveal ‘Master Plan Part 3’ at Tesla Investor Day after the bell
Aston Martin shares surge 14% on profitability forecast for 2023
The exterior of an Aston Martin store. Jeremy Moeller | Getty Images News | Getty Images LONDON — British luxury carmaker Aston Martin Lagonda forecasts better profitability this year, after widening its 2022 pretax losses on the back of a weakening U.K. currency. The company more than doubled year-on-year pretax losses to £495 million ($598… Continue reading Aston Martin shares surge 14% on profitability forecast for 2023
General Motors cuts 500 salaried employees
Mary Barra, CEO, GM at the NYSE, November 17, 2022. Source: NYSE DETROIT – General Motors is cutting hundreds of salaried positions as it follows other major companies, including competitors, in downsizing headcounts to preserve cash and boost profits. The cuts affect about 500 positions, according to a person familiar with the plans, which were… Continue reading General Motors cuts 500 salaried employees
Rivian posts mixed fourth quarter and underwhelming EV production outlook, stock falls
Rivian electric pickup trucks sit in a parking lot at a Rivian service center on May 09, 2022 in South San Francisco, California. Justin Sullivan | Getty Images Electric vehicle startup Rivian Automotive reported mixed fourth-quarter earnings and a lackluster production outlook after the bell Tuesday. Shares of Rivian were down by roughly 8% during… Continue reading Rivian posts mixed fourth quarter and underwhelming EV production outlook, stock falls
UAW leadership faces historic upheaval ahead of union negotiations with Detroit automakers
United Auto Workers members on strike picket outside General Motors’ Detroit-Hamtramck Assembly plant on Sept. 25, 2019 in Detroit. Michael Wayland / CNBC DETROIT – As the United Auto Workers prepares for what are expected to be highly contentious negotiations with the Detroit automakers later this year, the union’s leadership is undergoing its largest upheaval… Continue reading UAW leadership faces historic upheaval ahead of union negotiations with Detroit automakers
Odometer fraud is a $1 billion problem. Here’s how it costs American drivers
A type of motor vehicle crime that costs consumers in the U.S. about $1 billion a year is on the rise, according to data firm Carfax. It’s called odometer fraud. Fraudsters looking to boost profits on the sale of a vehicle roll back the numbers on an odometer, duping buyers into thinking the car has… Continue reading Odometer fraud is a $1 billion problem. Here’s how it costs American drivers
Fisker confirms Ocean EV deliveries will begin in spring, it’s on track to build more than 40,000 in 2023
Henrik Fisker stands with the Fisker Ocean electric vehicle after it was unveiled at the Manhattan Beach Pier ahead of the Los Angeles Auto Show and AutoMobilityLA on November 16, 2021 in Manhattan Beach, California. Patrick T. Fallon | AFP | Getty Images Electric vehicle startup Fisker said Monday that it spent less money in… Continue reading Fisker confirms Ocean EV deliveries will begin in spring, it’s on track to build more than 40,000 in 2023