Tesla CEO Elon Musk attends an opening ceremony for Tesla China-made Model Y program in Shanghai, east China, Jan. 7, 2020. Ding Ting | Xinhua News Agency | Getty Images Tesla shares slipped as much as 7% Monday morning after the company cut the price of some of its cars in China. They were down more… Continue reading Tesla shares closed down 1% after Elon Musk’s EV firm cuts price of cars in China
Author: CNBC Online news
GM’s new GMC Sierra EV will offer traditional truck buyers an upscale electric alternative to the Hummer
2024 Sierra EV Denali Edition Source: General Motors General Motors unveiled its latest electric pickup, the new electric GMC Sierra, and began taking reservations for a fully-loaded $107,000 version, called Sierra EV Denali Edition 1, on Thursday. The automaker expects to begin shipping the Edition 1 in early 2024 and to add lower-priced versions of… Continue reading GM’s new GMC Sierra EV will offer traditional truck buyers an upscale electric alternative to the Hummer
Musk says Tesla expects to meet Inflation Reduction Act requirements for new tax credits on EVs
A Tesla electric vehicle at a supercharger station in Hawthorne, California, on Aug. 9, 2022. Patrick T. Fallon | AFP | Getty Images Tesla CEO Elon Musk said during the company’s third-quarter earnings call on Wednesday evening that the company expects to fully meet the Inflation Reduction Act requirements that would allow consumers to receive… Continue reading Musk says Tesla expects to meet Inflation Reduction Act requirements for new tax credits on EVs
TeraWatt announces first interstate EV charging network for trucks
TeraWatt site Courtesy: TeraWatt San Francisco startup TeraWatt Infrastructure on Thursday announced it’s developing the first network of electric vehicle-charging centers for heavy-duty and medium-duty trucks along the Interstate 10 highway, stretching from Long Beach, California, to the El Paso, Texas, area. The company, which raised more than $1 billion this year to build charging infrastructure,… Continue reading TeraWatt announces first interstate EV charging network for trucks
Tesla comes in light on revenue, beats on earnings
Tesla CEO Elon Musk speaks at an event in Hawthorne, California April 30, 2015. Patrick T. Fallon | Reuters Tesla reported third-quarter earnings after the bell. Shares fell by about 3% after hours following the results. Here are the results. Earnings: $1.05 vs 99 cents per share (adjusted) expected, based on analysts polled by Refinitiv Revenue: $21.45… Continue reading Tesla comes in light on revenue, beats on earnings
Biden awards $2.8 billion for projects to boost electric vehicle battery manufacturing
U.S. President Joe Biden delivers remarks to highlight electric vehicle manufacturing in America, during a visit to the Detroit Auto Show, September 14, 2022. Kevin Lamarque | Reuters The Biden administration on Wednesday said it will award $2.8 billion in grants for projects to expand U.S. manufacturing of batteries for electric vehicles and domestic mineral production.… Continue reading Biden awards $2.8 billion for projects to boost electric vehicle battery manufacturing
Hyundai says Biden’s new EV tax credit rules deal ‘astronomical’ blow to business
Hyundai Ioniq 6 Hyundai DETROIT – The Biden administration’s elimination of tax credits for imported electric vehicles deals a massive blow to Hyundai Motor’s business, an executive for the automaker said Wednesday. Jose Munoz, global president and chief operating officer, declined to disclose a specific financial impact associated with the requirements of the Inflation Reduction… Continue reading Hyundai says Biden’s new EV tax credit rules deal ‘astronomical’ blow to business
Wall Street eyes auto industry earnings for signs of ‘demand destruction’
A sign advertises to purchase cars at a used car dealership in Arlington, Virginia, February 15, 2022. Saul Loeb | AFP | Getty Images DETROIT – Since the start of the pandemic in early 2020, U.S. automakers and dealers have seen record profits as demand outpaced supplies of new cars amid supply chain problems. But… Continue reading Wall Street eyes auto industry earnings for signs of ‘demand destruction’
BMW plans to invest $1.7 billion in U.S. to produce electric vehicles
BMW Concept XM BMW BMW Group plans to invest $1.7 billion in its U.S. operations to build electric vehicles and batteries, the company announced Wednesday. The investment will include $1 billion to prepare for production of EVs at the automaker’s existing Spartanburg factory in South Carolina, and $700 million for a new high-voltage battery-assembly facility… Continue reading BMW plans to invest $1.7 billion in U.S. to produce electric vehicles
IKEA teams with self-driving truck startup Kodiak Robotics to test deliveries in Texas
Kodiak Robotics truck in front of an IKEA store. Source: Kodiak Robotics Self-driving truck startup Kodiak Robotics said that it has begun a pilot program with IKEA in Texas. A semitruck equipped with Kodiak’s autonomous driving system is making daily delivery runs from an IKEA warehouse near Houston to a store close to Dallas, roughly… Continue reading IKEA teams with self-driving truck startup Kodiak Robotics to test deliveries in Texas