Traffic and congestion have been worsening in American cities for decades. The average American driver lost 51 hours and $869 in valued time by sitting in traffic in 2022, a 54% jump from the previous year, according to a report by INRIX, a global traffic tracker. In 2019, before the pandemic, traffic snarls cost the… Continue reading Why traffic can’t be solved with just adding more highway lanes
Author: CNBC Online news
Canoo’s shares sink after EV maker agrees to sell $52 million in discounted stock
The Lifestyle Vehicle electric minivan from Canoo. Source: Canoo Shares of electric vehicle startup Canoo were sharply lower in early trading on Monday after the company said that it has agreed to sell discounted shares to raise $52.5 million. Canoo’s shares closed at $1.09 on Monday, down over 12%. The stock has lost more than… Continue reading Canoo’s shares sink after EV maker agrees to sell $52 million in discounted stock
Auto loan delinquencies are rising. Here’s what to do if you’re struggling with payments
Fotostorm | E+ | Getty Images For a rising share of car owners, monthly auto loan payments appear to be evolving into a problem. While borrowers who are behind on their payments by more than 60 days represent a tiny portion of all outstanding auto loans — 1.84% — their ranks are growing, according to… Continue reading Auto loan delinquencies are rising. Here’s what to do if you’re struggling with payments
Jury finds Musk, Tesla not liable in securities fraud trial following ‘funding secured’ tweets
Tesla CEO Elon Musk and his security detail depart the company’s local office in Washington, January 27, 2023. Jonathan Ernst | Reuters Elon Musk and Tesla were found not liable by a jury in a San Francisco federal court on Friday in a class-action securities fraud trial stemming from tweets Musk made in 2018. The… Continue reading Jury finds Musk, Tesla not liable in securities fraud trial following ‘funding secured’ tweets
Ford sold 91 million shares of EV startup Rivian last year
RJ Scaringe, Rivian founder and CEO, and Ford Executive Chairman Bill Ford announce a $500 million Ford investment in Rivian. Source: Ford Motor Co. DETROIT – Ford Motor liquidated most of its ownership stake last year in electric vehicle maker Rivian Automotive, according to the Detroit automaker’s annual report submitted to the Securities and Exchange… Continue reading Ford sold 91 million shares of EV startup Rivian last year
Ford’s CEO needs to deliver by next quarter, or we’re moving on from the stock
Ford Motor (F) CEO Jim Farley said the automakers’ messy fourth quarter was a function of its transition to a new business structure that limited production capacity, combined with poor execution. But we remain disappointed in the results and need to see an increase in profitability to stick with the stock after the next quarter.… Continue reading Ford’s CEO needs to deliver by next quarter, or we’re moving on from the stock
Biden administration expands EV tax credits in boost for Tesla, Cadillac, others
A Tesla Model Y on display inside a Tesla store at the Westfield Culver City shopping mall in Culver City, California, U.S., on Thursday, April 14, 2022. Bing Guan | Bloomberg | Getty Images DETROIT – The U.S. Treasury said Friday it is changing its definition of an “SUV” to make more electric vehicles from… Continue reading Biden administration expands EV tax credits in boost for Tesla, Cadillac, others
Ford CEO Jim Farley’s frustration builds as he vows to transform the automaker
watch now Ford CEO Jim Farley is frustrated. The company’s fourth-quarter earnings on Thursday missed analyst expectations by a wide margin, as costs and supply chain issues again hurt Ford’s bottom line, Farley knows his company needs to change. related investing news “We have to change our cost profile,” Farley told CNBC after a call… Continue reading Ford CEO Jim Farley’s frustration builds as he vows to transform the automaker
Chinese Tesla rival Xpeng launches flagship EVs in Europe in international push
Xpeng is pushing aggressively into international markets. The Chinese electric car start-up launched its P7 sedan and G9 SUV in Denmark, Norway, the Netherlands and Sweden. Zhang Peng | LightRocket | Getty Images Xpeng, a Chinese electric vehicle startup, on Friday launched two of its flagship cars across a number of European countries, as it… Continue reading Chinese Tesla rival Xpeng launches flagship EVs in Europe in international push
Ford posts ugly fourth quarter, full-year net loss as ‘execution issues’ plague production
Ford CEO Jim Farley takes off his mask at the Ford Built for America event at Fords Dearborn Truck Plant on September 17, 2020 in Dearborn, Michigan. Nic Antaya | Getty Images DETROIT – Ford Motor reported an ugly fourth quarter, missing Wall Street’s earnings expectations and falling short of its own full-year guidance by… Continue reading Ford posts ugly fourth quarter, full-year net loss as ‘execution issues’ plague production