An Amazon Rivian electric delivery van at the company’s manufacturing facility in Normal, Illinois, US., on Monday, April 11, 2022. Jamie Kelter Davis | Bloomberg | Getty Images Rivian said Monday it was pausing plans to manufacture electric commercial vans in Europe and would “no longer pursue” the agreement it made with Mercedes-Benz just three… Continue reading Rivian pauses plans to make electric vans in Europe with Mercedes-Benz
Author: CNBC Online news
Electric school buses are giving kids a cleaner, but costlier, ride to class
BEVERLY, Mass. — It’s a gray November morning, and we’re on board a long, yellow school bus. The bus bounces over this Boston suburb’s patched streets in a way that would be familiar to anyone who ever rode a bus to class. But the bus is quiet – and not just because there are no… Continue reading Electric school buses are giving kids a cleaner, but costlier, ride to class
Stellantis to indefinitely idle Jeep plant, lay off workers to cut costs for EVs
2016 Jeep Cherokee Sport Source: Jeep DETROIT – Stellantis said Friday that it plans to indefinitely idle a Jeep plant in Illinois, starting early next year, to cut costs as it invests in electric vehicles. The transatlantic automaker, formerly known as Fiat Chrysler, said the plant will cease production as of Feb. 28. The more… Continue reading Stellantis to indefinitely idle Jeep plant, lay off workers to cut costs for EVs
Getaround stock crashes after carsharing company goes public in SPAC deal
Paul Chinn | San Francisco Chronicle | Getty Images Carsharing company Getaround made its public market debut Friday through a merger with blank-check company InterPrivate II Acquisition Corp. The company saw its share value drop more than 65%, reflecting the chilly environment for both SPACs and ridesharing companies. Getaround, which made the very first CNBC… Continue reading Getaround stock crashes after carsharing company goes public in SPAC deal
GM battery plant workers vote to unionize with UAW, a key win for labor as industry shifts to EVs
Speaking in front of a backdrop of American-made vehicles and a United Auto Workers (UAW) sign, Democratic U.S. presidential nominee and former Vice President Joe Biden speaks about new proposals to protect U.S. jobs during a campaign stop in Warren, Michigan, U.S., September 9, 2020. Leah Millis | Reuters DETROIT — Workers at a General Motors… Continue reading GM battery plant workers vote to unionize with UAW, a key win for labor as industry shifts to EVs
SpaceX, Tesla, and Boring Company execs are helping Elon Musk at Twitter, records reveal
An image of new Twitter owner Elon Musk is seen surrounded by Twitter logos in this photo illustration in Warsaw, Poland on 08 November, 2022. STR | Nurphoto | Getty Images Elon Musk led a $44 billion acquisition of Twitter and appointed himself CEO there in late October. Ever since, he has enlisted high-ranking executives… Continue reading SpaceX, Tesla, and Boring Company execs are helping Elon Musk at Twitter, records reveal
Used vehicle demand and prices continue to decline from record highs
A pedestrian walks past a certified pre-owned car sales lot in Alhambra, California on January 12, 2022. Frederic J. Brown | AFP | Getty Images DETROIT – Wholesale prices of used vehicles reached their lowest level in more than a year last month, as retail sales decline amid interest rate hikes, rising new vehicle availability… Continue reading Used vehicle demand and prices continue to decline from record highs
Carvana shares tank as bankruptcy concerns grow for used car retailer
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
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