Mary Barra, CEO, GM at the NYSE, November 17, 2022. Source: NYSE General Motors expects its new electric vehicle profits to be in-line with cars and trucks with traditional engines by 2025 – years ahead of schedule and what many thought was possible. GM CEO Mary Barra on Thursday said the updated forecast factors in… Continue reading GM expects EV profits to be comparable to gas vehicles by 2025, years ahead of schedule
Author: CNBC Online news
Elon Musk says in court that he doesn’t want to be CEO of any company and tries to walk back SEC insults
Tesla Inc CEO Elon Musk attends the World Artificial Intelligence Conference (WAIC) in Shanghai, China August 29, 2019. Aly Song | Reuters Elon Musk said in court Wednesday that he does not want to be the CEO of any company. He recently acquired social media giant Twitter and appointed himself as the CEO, adding to… Continue reading Elon Musk says in court that he doesn’t want to be CEO of any company and tries to walk back SEC insults
Toyota unveils new Prius hybrids amid skepticism of its EV strategy
2023 Toyota Prius Prime plug-in hybrid electric vehicle Toyota Toyota Motor is not giving up on its flagship Prius hybrid anytime soon, despite investing billions in all-electric vehicles amid criticism it hasn’t moved fast enough into the emerging segment. The automaker late Tuesday revealed new versions of the Prius hybrid and Prius Prime, a plug-in… Continue reading Toyota unveils new Prius hybrids amid skepticism of its EV strategy
Why U.S. rail travel is so expensive
Amtrak’s Acela is the fastest passenger train in the Western Hemisphere, but tickets can be pricey. Amtrak fares can vary dramatically in the Northeast, home of the most heavily used stretch of track in the railroad’s nationwide network, which also includes stops in Canada. But tickets are often more expensive than plane tickets, despite flight… Continue reading Why U.S. rail travel is so expensive
Ford says making its own parts for electric vehicles could offset job losses
Ford CEO Jim Farley (left) with Michael Wayland / CNBC DETROIT – Ford Motor is attempting to build as many of its own parts as possible for its electric vehicles to offset an expected 40% reduction in workers needed to build such cars and trucks, CEO Jim Farley said Tuesday. Farley compared Ford’s latest efforts… Continue reading Ford says making its own parts for electric vehicles could offset job losses
Electric vehicles are less reliable because of newer technologies, Consumer Reports finds
watch now Electric vehicles are among the least reliable cars and trucks in the automotive industry today, according to Consumer Reports rankings released Tuesday. When compared with hybrid and gas-powered cars and trucks, electric vehicles powered entirely by batteries were the worst-performing segment, aside from traditional full-size pickup trucks, according to Consumer Reports. related investing… Continue reading Electric vehicles are less reliable because of newer technologies, Consumer Reports finds
Charlie Munger calls the success of Elon Musk’s Tesla a ‘minor miracle’ in the car business
watch now Berkshire Hathaway Vice Chairman Charlie Munger spoke highly of Elon Musk’s electric vehicle company, Tesla, calling it an amazing feat in the American auto industry. “I was certainly surprised that Tesla did as well as it did,” Munger said in an interview with CNBC’s Becky Quick that aired Tuesday on “Squawk Box.” “I do not… Continue reading Charlie Munger calls the success of Elon Musk’s Tesla a ‘minor miracle’ in the car business
Lucid reveals new lower-cost versions of the Air electric luxury sedan
watch now Luxury electric vehicle maker Lucid Group on Tuesday revealed several new versions of its Air sedan – including its lowest-cost model yet. CEO Peter Rawlinson said in an interview with CNBC’s Phil LeBeau the Lucid Air Pure will start at $87,400. An all-wheel drive version with 410 miles of range will ship by… Continue reading Lucid reveals new lower-cost versions of the Air electric luxury sedan
Panasonic and Redwood Materials strike multibillion-dollar battery component deal for U.S. production
JB Straubel sits down with CNBC’s Phil LeBeau at Redwood Materials. Panasonic Energy of North America, the largest supplier of battery cells for electric vehicles in the U.S., has struck a deal with Nevada-based battery recycling company Redwood Materials to buy a key material for the production of batteries. Redwood Materials, which will supply high-nickel… Continue reading Panasonic and Redwood Materials strike multibillion-dollar battery component deal for U.S. production
Ford vs. GM: Same industry, two increasingly different companies
Jim Farley, CEO, Ford, left, and Mary Barra, CEO, General Motors Reuters; General Motors DETROIT — “Same industry. Two different companies.” That’s how influential Morgan Stanley auto industry analyst Adam Jonas recently described General Motors and Ford Motor The two have consistently attempted to outgun each other in sales, performance and styling of new vehicles.… Continue reading Ford vs. GM: Same industry, two increasingly different companies