Elon Musk, chief executive officer of Tesla Inc., departs court in San Francisco, California, US, on Tuesday, Jan. 24, 2023. Marlena Sloss | Bloomberg | Getty Images The SEC argued in a letter to the U.S. Court of Appeals for the Second Circuit in New York this week that Tesla CEO Elon Musk still needs… Continue reading SEC rebuffs Elon Musk’s attempt to get out of ‘funding secured’ settlement
Author: CNBC Online news
Lordstown halts production, shipments of Endurance electric trucks to address quality issues
Lordstown Motors gave rides in prototypes of its upcoming electric Endurance pickup truck on June 21, 2021 as part of its “Lordstown Week” event. Michael Wayland / CNBC Lordstown Motors said Thursday it will suspend production and deliveries of its all-electric Endurance pickup to address performance and quality issues with certain components. The electric vehicle… Continue reading Lordstown halts production, shipments of Endurance electric trucks to address quality issues
Nikola’s fourth-quarter revenue falls short as it delivers just 20 trucks
Nikola Motor Company Source: Nikola Motor Company Electric heavy-truck maker Nikola said Thursday it produced 133 battery-electric trucks in the fourth quarter, but delivered just 20 to dealers, generating revenue that fell well short of Wall Street’s expectations. Nikola said it made a series of changes to its battery-electric truck during the quarter in response… Continue reading Nikola’s fourth-quarter revenue falls short as it delivers just 20 trucks
Lucid’s revenue falls short of estimates as it guides to higher EV production in 2023
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 on Wednesday reported fourth-quarter revenue that fell short of expectations after building just 7,000 of its Air luxury sedans last year amid manufacturing challenges.… Continue reading Lucid’s revenue falls short of estimates as it guides to higher EV production in 2023
Lidar maker Luminar announces ‘multibillion dollar’ expansion of its deal with Mercedes-Benz
Austin Russell, Luminar founder and CEO, with Markus Schäfer, Mercedes-Benz AG chief technology officer at Mercedes-Benz’ Sindelfingen, Germany plant. Mercedes-Benz Lidar maker Luminar said Wednesday that Mercedes-Benz will incorporate its sensors and software in a “broad range” of vehicles starting mid-decade, in a significant expansion of an ongoing partnership between the two companies. Under the… Continue reading Lidar maker Luminar announces ‘multibillion dollar’ expansion of its deal with Mercedes-Benz
Nikola will offer a driver-assist system for its trucks starting next year
Nikola Motor Company Two truck Source: Nikola Motor Company Nikola will begin offering an advanced driver-assist system on its electric heavy trucks starting late next year, the company said Wednesday. The system, made by Plus and called PlusDrive, is similar to the highway driving systems offered by automakers including Tesla, General Motors and Ford Motor… Continue reading Nikola will offer a driver-assist system for its trucks starting next year
Jeep, Dodge maker Stellantis posts record annual profit, announces $4.47 billion shareholder payout
An engine undergoes assembly at the Stellantis Dundee Engine Complex on August 18, 2022 in Dundee, Michigan. Bill Pugliano | Getty Images Carmaker Stellantis on Wednesday announced record full-year results, reporting a 26% rise in net profit to 16.8 billion euros ($17.9 billion) and a 41% annual jump in global battery and electric vehicle sales.… Continue reading Jeep, Dodge maker Stellantis posts record annual profit, announces $4.47 billion shareholder payout
Bentley to end production of ultra-performance 12-cylinder engine as it transitions to EVs
A staff member checks a Bentayga SUV on the Bentley production line at their factory in Crewe, Britain, December 7, 2022. Phil Noble | Reuters Bentley Motors plans to end production of its 12-cylinder engine next April as the famed luxury carmaker transitions to electric vehicles. The British automaker of ultra-luxury performance cars said the… Continue reading Bentley to end production of ultra-performance 12-cylinder engine as it transitions to EVs
Solid fourth-quarter earnings push AutoNation stock to an all-time high
Vehicles are displayed for sale at an AutoNation car dealership on April 21, 2022 in Valencia, California. Mario Tama | Getty Images A solid fourth-quarter earnings report from AutoNation on Friday propelled the car dealer’s stock to a new all-time high and its best day in nearly three years. The Florida-based dealership group reported an… Continue reading Solid fourth-quarter earnings push AutoNation stock to an all-time high
Ford warned some F-150 Lightning owners about separate EV battery issue before this month’s fire
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 – A defective battery that caused a Ford F-150 Lightning in the company’s possession to catch fire earlier this month isn’t the only problem the Detroit automaker has recently… Continue reading Ford warned some F-150 Lightning owners about separate EV battery issue before this month’s fire