Employees stand next to a ET7 sedan at a NIO Inc. dealership in Shanghai, China, on Wednesday, June 8, 2022. Chinese electric vehicle maker Nio on Thursday reported a loss of $577.9 million for the third quarter, significantly wider than a year ago, despite strong revenue following a 29% increase in vehicle sales. Here are… Continue reading Nio reports strong third-quarter revenue as it gears up for a big year-end production push
Author: CNBC Online news
President Biden says Elon Musk’s relationships with other countries are worth looking into
Joe Biden, left, and Elon Musk Evelyn Hockstein | Reuters; Andrew Harrer | Bloomberg | Getty Images Asked on Wednesday whether Tesla, SpaceX and Twitter CEO Elon Musk posed a threat to national security, President Joe Biden said that the centi-billionaire’s “relationships with other countries is worthy of being looked at.” At a White House… Continue reading President Biden says Elon Musk’s relationships with other countries are worth looking into
Rivian sticks to full-year EV production target as quarterly losses come in narrower than expected
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 maker Rivian Automotive on Wednesday reaffirmed its 25,000-vehicle production target for 2022, but said it plans to spend less to do it as the company… Continue reading Rivian sticks to full-year EV production target as quarterly losses come in narrower than expected
Tesla sinks to almost two-year low on Elon Musk stock sales, Twitter distraction
Tesla CEO Elon Musk speaks at an event in Hawthorne, California April 30, 2015. Patrick T. Fallon | Reuters Tesla shares dropped more than 7% on Wednesday to close at $177.59, their lowest since November 2020, after CEO Elon Musk disclosed the sale of close to $4 billion worth of stock in the electric car… Continue reading Tesla sinks to almost two-year low on Elon Musk stock sales, Twitter distraction
Volvo reveals new $80,000 electric SUV with Luminar lidar
Volvo EX90 Volvo Volvo’s plans to exclusively sell all-electric vehicles by 2030 kicked off Wednesday with the reveal of its EX90 – the first in a new lineup of EVs for the Swedish automaker. The carmaker is calling the seven-seat SUV its new flagship vehicle, starting at just under $80,000. The company said production of… Continue reading Volvo reveals new $80,000 electric SUV with Luminar lidar
UK’s first large-scale lithium refinery chooses location as race for ‘white gold’ intensifies
A lithium-ion battery photographed at a Volkswagen facility in Germany. Lithium-ion batteries are crucial components in electric vehicles. Jan Woitas | Picture Alliance | Getty Images LONDON — A facility described as the U.K.’s “first large-scale lithium refinery” will be located in the north of England, with those behind the project hoping its output will… Continue reading UK’s first large-scale lithium refinery chooses location as race for ‘white gold’ intensifies
Autos giant Renault is betting the market for gasoline cars will continue to grow
watch now Renault sees the internal combustion engine continuing to play a crucial role in its business over the coming years, according to a top executive at the French automotive giant. On Tuesday, it was announced that the Renault Group and Chinese firm Geely had signed a non-binding framework agreement to establish a company… Continue reading Autos giant Renault is betting the market for gasoline cars will continue to grow
Electric vehicle maker Lucid reports third-quarter loss, confirms it’s on track to meet production guidance
Electric vehicle start-up Lucid on Sept. 28, 2021 said production of its first cars for customers has started at its factory in in Casa Grande, Arizona. Lucid Electric vehicle maker Lucid Group on Tuesday reported that it lost $530 million in the third quarter but confirmed that it’s still on track to make between 6,000… Continue reading Electric vehicle maker Lucid reports third-quarter loss, confirms it’s on track to meet production guidance
Auto loan delinquencies rise as loan-accommodation programs end
watch now With inflation cutting into the budgets of Americans, a growing percentage of people with auto loans are struggling to make their monthly payments. TransUnion, which tracks more than 81 million auto loans in the U.S., said Tuesday the percentage of loans that are at least 60 days delinquent hit 1.65% in the third… Continue reading Auto loan delinquencies rise as loan-accommodation programs end
Renault and Google team up to develop a ‘software defined’ vehicle
Details of Renault’s Scénic Vision concept car were presented to the public on May 19, 2022. The firm’s idea of developing a passenger vehicle that uses hydrogen technology is not unique. Benjamin Girette | Bloomberg | Getty Images French automaker Renault is partnering with Google to develop its cars like a tech company makes software.… Continue reading Renault and Google team up to develop a ‘software defined’ vehicle