An employee inspects the door of a 2018 Honda Accord vehicle during production at the Honda of America Manufacturing Inc. Marysville Auto Plant in Marysville, Ohio, on Thursday, Dec. 21, 2017. Ty Wright | Bloomberg | Getty Images Honda Motor and LG Energy Solution on Tuesday said a new multibillion-dollar plant to produce batteries for… Continue reading Honda’s new $4.4 billion EV battery plant will be built in Ohio
Author: CNBC Online news
Lyft exec was wrong about driverless vehicles — but he still believes in their potential
Confetti falls as Lyft CEO Logan Green (C) and President John Zimmer (LEFT C) ring the Nasdaq opening bell celebrating the company’s initial public offering (IPO) on March 29, 2019 in Los Angeles, California. The ride hailing app company’s shares were initially priced at $72. Mario Tama / Getty Images DETROIT — In 2016, Lyft… Continue reading Lyft exec was wrong about driverless vehicles — but he still believes in their potential
GM is launching a new business to connect homes and businesses with EV chargers, energy storage
Electric Chevrolet Silverado shown at the New York Auto Show, April, 2022. Scott Mlyn | CNBC General Motors on Tuesday said that it is forming a new business unit to offer stationary battery packs, solar panels, electric vehicle chargers and other energy-management products for homes and businesses. The new unit, called GM Energy, aims to… Continue reading GM is launching a new business to connect homes and businesses with EV chargers, energy storage
Auto giant Stellantis looks to Australian materials, including nickel, for its EVs
This image, from July 2021, shows a Citroen e-C4 electric vehicle on display at a showroom in Paris, France. Citroen is a brand of Stellantis, one of the world’s biggest automakers. Benjamin Girette | Bloomberg | Getty Images Stellantis is turning to Australia as it looks to procure the materials needed for its electric vehicle… Continue reading Auto giant Stellantis looks to Australian materials, including nickel, for its EVs
Here’s why UBS’s downgrade of Ford is misguided — and late
Ford Motor (F) shares plummeted Monday after UBS downgraded the Club holding — a call that strikes us as both belated and short-sighted given the stock’s considerable slide since January. With a dividend yield north of 5%, the Club is sitting tight. In a research note to clients, the bank warned that automakers like Ford… Continue reading Here’s why UBS’s downgrade of Ford is misguided — and late
GM and Ford shares fall after UBS downgrades on expectations for weakening demand
The General Motors world headquarters office is seen at Detroit’s Renaissance Center. Paul Hennessy | LightRocket | Getty Images DETROIT — Shares of General Motors and Ford Motor each tumbled Monday after a pair of UBS downgrades citing expectations for weakening demand amid inflationary pressures. Ford’s stock was down by more than 8% during intraday… Continue reading GM and Ford shares fall after UBS downgrades on expectations for weakening demand
Rivian shares slumped after the company announced a big recall
Production of electric Rivian R1T pickup trucks on April 11, 2022 at the company’s plant in Normal, Ill. Michael Wayland / CNBC Shares of Rivian Automotive fell sharply on Monday after the electric vehicle maker said late Friday that it is recalling more than 12,000 vehicles – nearly every EV it has made to date… Continue reading Rivian shares slumped after the company announced a big recall
How GM plans to convince consumers to make the switch to electric vehicles
Electric Chevrolet Silverado shown at the New York Auto Show, April, 2022. Scott Mlyn | CNBC When people think of electric vehicles, their minds typically jump to Tesla. But Elon Musk’s company now has a lot more EV competition from Detroit. Within the past six years, General Motors CEO Mary Barra has pushed the company… Continue reading How GM plans to convince consumers to make the switch to electric vehicles
Tesla stock had its worst week since Mar. 2020 during a ‘very intense 7 days’ for Elon Musk
Michael Gonzalez | Getty Images News | Getty Images Tesla shares dropped nearly 16% during what CEO Elon Musk called a “very intense 7 days indeed” to one of his 108 million followers on Twitter. Tesla shares closed at $265.25 on Friday, Sept. 30. At market’s close one week later, Tesla shares were trading at… Continue reading Tesla stock had its worst week since Mar. 2020 during a ‘very intense 7 days’ for Elon Musk
Polestar confirms it will deliver 50,000 electric vehicles in 2022
Polestar, the Swedish electric performance car company, has announced that the world premiere of its next car, the Polestar 3 electric performance SUV, will be in October 2022. Polestar 3 is the company’s first SUV. Courtesy: Polestar Swedish electric vehicle maker Polestar said Friday that it is still on track to deliver 50,000 vehicles in… Continue reading Polestar confirms it will deliver 50,000 electric vehicles in 2022