TeraWatt site Courtesy: TeraWatt San Francisco startup TeraWatt Infrastructure on Thursday announced it’s developing the first network of electric vehicle-charging centers for heavy-duty and medium-duty trucks along the Interstate 10 highway, stretching from Long Beach, California, to the El Paso, Texas, area. The company, which raised more than $1 billion this year to build charging infrastructure,… Continue reading TeraWatt announces first interstate EV charging network for trucks
Author: CNBC Online news
Tesla comes in light on revenue, beats on earnings
Tesla CEO Elon Musk speaks at an event in Hawthorne, California April 30, 2015. Patrick T. Fallon | Reuters Tesla reported third-quarter earnings after the bell. Shares fell by about 3% after hours following the results. Here are the results. Earnings: $1.05 vs 99 cents per share (adjusted) expected, based on analysts polled by Refinitiv Revenue: $21.45… Continue reading Tesla comes in light on revenue, beats on earnings
Biden awards $2.8 billion for projects to boost electric vehicle battery manufacturing
U.S. President Joe Biden delivers remarks to highlight electric vehicle manufacturing in America, during a visit to the Detroit Auto Show, September 14, 2022. Kevin Lamarque | Reuters The Biden administration on Wednesday said it will award $2.8 billion in grants for projects to expand U.S. manufacturing of batteries for electric vehicles and domestic mineral production.… Continue reading Biden awards $2.8 billion for projects to boost electric vehicle battery manufacturing
Hyundai says Biden’s new EV tax credit rules deal ‘astronomical’ blow to business
Hyundai Ioniq 6 Hyundai DETROIT – The Biden administration’s elimination of tax credits for imported electric vehicles deals a massive blow to Hyundai Motor’s business, an executive for the automaker said Wednesday. Jose Munoz, global president and chief operating officer, declined to disclose a specific financial impact associated with the requirements of the Inflation Reduction… Continue reading Hyundai says Biden’s new EV tax credit rules deal ‘astronomical’ blow to business
Wall Street eyes auto industry earnings for signs of ‘demand destruction’
A sign advertises to purchase cars at a used car dealership in Arlington, Virginia, February 15, 2022. Saul Loeb | AFP | Getty Images DETROIT – Since the start of the pandemic in early 2020, U.S. automakers and dealers have seen record profits as demand outpaced supplies of new cars amid supply chain problems. But… Continue reading Wall Street eyes auto industry earnings for signs of ‘demand destruction’
BMW plans to invest $1.7 billion in U.S. to produce electric vehicles
BMW Concept XM BMW BMW Group plans to invest $1.7 billion in its U.S. operations to build electric vehicles and batteries, the company announced Wednesday. The investment will include $1 billion to prepare for production of EVs at the automaker’s existing Spartanburg factory in South Carolina, and $700 million for a new high-voltage battery-assembly facility… Continue reading BMW plans to invest $1.7 billion in U.S. to produce electric vehicles
IKEA teams with self-driving truck startup Kodiak Robotics to test deliveries in Texas
Kodiak Robotics truck in front of an IKEA store. Source: Kodiak Robotics Self-driving truck startup Kodiak Robotics said that it has begun a pilot program with IKEA in Texas. A semitruck equipped with Kodiak’s autonomous driving system is making daily delivery runs from an IKEA warehouse near Houston to a store close to Dallas, roughly… Continue reading IKEA teams with self-driving truck startup Kodiak Robotics to test deliveries in Texas
Warren Buffett-backed BYD pops more than 5% after Chinese EV maker forecasts surging profits
Warren Buffett-backed BYD said it expects a more than 300% jump in third-quarter profit. Despite headwinds including a resurgence of Covid in China, rising material costs and a slowing economy, BYD has remained fairly resilient. Nathan Laine | Bloomberg | Getty Images Shares of Chinese electric carmaker BYD rose Tuesday after the company forecast a… Continue reading Warren Buffett-backed BYD pops more than 5% after Chinese EV maker forecasts surging profits
GM tests limits of Cadillac’s brand power with $300,000 Celestiq electric car
2024 Cadillac Celestiq Cadillac DETROIT – Cadillac is testing the limits of its brand allure and pricing power with the 2024 Celestiq – a large, bespoke electric car that will start at more than $300,000. The vehicle – unveiled Monday night – launches the General Motors brand into the ultra-luxury segment against the likes of… Continue reading GM tests limits of Cadillac’s brand power with $300,000 Celestiq electric car
Stellantis debuts pure-electric Jeep, pledges new target on energy self-sufficiency
The Stellantis CEO Carlos Tavares photographed next to a Jeep Avenger at the Paris Motor Show on October 17, 2022. Nathan Laine | Bloomberg | Getty Images The CEO of Stellantis told CNBC Monday that the company would use its own sites to generate half the energy it needs for manufacturing by the middle of… Continue reading Stellantis debuts pure-electric Jeep, pledges new target on energy self-sufficiency