watch now Shares in electric vehicle maker Tesla sank to a new 52-week low on Tuesday, closing around $138 per share, or 8% lower for the day in an otherwise mixed day for stocks. CEO Elon Musk tried to blame the sinking price partly on macroeconomic factors. related investing news Long-time Tesla bull Ross Gerber… Continue reading Elon Musk tries to explain why Tesla shares are tanking
Author: CNBC Online news
Porsche begins production of ‘e-fuel’ that could provide gas alternative amid EV push
Barbara Frenkel, member of the executive board for procurement at Porsche, (left) and Michael Steiner, member of the executive board for development and research fuel a 911 with e-fuel at a pilot plant, Punta Arenas, Chile. Porsche AG Porsche and several partners have started production of a climate neutral “e-fuel” aimed at replacing gasoline in… Continue reading Porsche begins production of ‘e-fuel’ that could provide gas alternative amid EV push
Biden unveils stricter emissions rules for heavy-duty trucks
EPA Administrator Michael Regan gives remarks at an event on new national clean air standards for heavy-duty trucks near the U.S. Environmental Protection Agency Headquarters on December 20, 2022 in Washington, DC. Anna Moneymaker | Getty Images News | Getty Images The Biden administration on Tuesday announced stricter standards on smog-forming emissions from trucks, vans… Continue reading Biden unveils stricter emissions rules for heavy-duty trucks
U.S. Postal Service to transform delivery fleet with 66,000 electric vehicles by 2028
Three United States Postal Service (USPS) mail trucks are parked in front of the post office in Danville. On July 20, the USPS announced that at least 40 percent of its Next Generation Delivery Vehicles (NGDVs) and commercial off-the-street (COTS) vehicles will be battery electric vehicles. Paul Weaver | Sopa Images | Getty Images The… Continue reading U.S. Postal Service to transform delivery fleet with 66,000 electric vehicles by 2028
Treasury Department delays electric vehicle tax credit guidance until March
UAW Local 5960 member Kimberly Fuhr inspects a Chevrolet Bolt EV during vehicle production on Thursday, May 6, 2021, at the General Motors Orion Assembly Plant in Orion Township, Michigan. Steve Fecht for Chevrolet The Treasury Department is delaying plans to issue proposed guidance for the sourcing of electric vehicle batteries for federal tax incentives… Continue reading Treasury Department delays electric vehicle tax credit guidance until March
How disrupting the used car market caused Carvana to succeed and stumble
Carvana is a used car retailer that lets customers find, tour, buy and finance vehicles completely online. The company then delivers the vehicles straight to a customer’s home or allows them to pick up their purchase from one of Carvana’s 33 fully-automated car vending machines. It’s a business model that helped propel the company to… Continue reading How disrupting the used car market caused Carvana to succeed and stumble
The best bang for your buck: These 10-year-old used cars cost less than $16,000 and could go for another 100,000 miles
watch now When it comes to car buying, there may be fewer deals out there, but there is still plenty of value to be had. To that end, cost-conscious car shoppers are increasingly seeking out used vehicles in good condition. To be sure you get what you pay for, check for excess wear and tear beyond… Continue reading The best bang for your buck: These 10-year-old used cars cost less than $16,000 and could go for another 100,000 miles
Elon Musk polled Twitter on whether he should step down as CEO. Most voters said yes
watch now Twitter’s new owner and CEO, Elon Musk, posted an informal poll of the social media platform’s users Sunday asking if he should step down as head of the company. At 6:20 a.m. ET on Monday, the poll ended with a majority of respondents (57.5%) calling for the billionaire to leave his post. More than 17… Continue reading Elon Musk polled Twitter on whether he should step down as CEO. Most voters said yes
Ford again hikes the starting price of the F-150 Lightning pickup, now up 40% since launch
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 – Ford Motor has once again increased the starting price of its electric F-150 Lightning, citing higher raw material costs for the pickup truck. The new price of the… Continue reading Ford again hikes the starting price of the F-150 Lightning pickup, now up 40% since launch
U.S. safety regulators investigating GM’s Cruise robotaxis blocking traffic, causing collisions
A Cruise vehicle in San Francisco, California, on Wednesday Feb. 2, 2022. David Paul Morris | Bloomberg | Getty Images U.S. automotive safety officials have opened a formal probe into the autonomous driving system used by General Motors’ self-driving vehicle unit Cruise. The National Highway Traffic Safety Administration said it has received complaints about the… Continue reading U.S. safety regulators investigating GM’s Cruise robotaxis blocking traffic, causing collisions