Sebastian Gollnow | picture alliance | Getty Images The CEO of Daimler emphasized the importance of low-emission technologies and innovation on Friday, telling CNBC that the automotive industry was “in the middle of a transformation.” “Next to the things that we know well — to build, frankly, the world’s most desirable cars — there are… Continue reading Daimler’s Mercedes-Benz triples its electric car sales as CEO predicts a ‘transformative’ decade
Author: CNBC Online news
Chinese search firm Baidu to create an electric vehicle company as tech giants jump into auto space
GUANGZHOU, China — Chinese search giant Baidu will create a standalone electric vehicle company, a person familiar with the matter told CNBC. The Beijing-headquartered company will be the majority shareholder while Chinese automaker Geely will take a minority stake, the person said. Geely will be responsible for manufacturing the vehicles while Baidu will focus on… Continue reading Chinese search firm Baidu to create an electric vehicle company as tech giants jump into auto space
GM leads $23 million investment in on-demand vehicle maintenance service Yoshi
GM Ventures is leading a $23 million investment round into on-demand car maintenance service Yoshi. Yoshi General Motors is leading a $23 million funding round for an on-demand car maintenance service called Yoshi. It’s the second time GM’s venture capital arm has invested in the Silicon Valley start-up since 2018. The Series B funding round… Continue reading GM leads $23 million investment in on-demand vehicle maintenance service Yoshi
Tesla tells employees Model S and X production will shut down for 18 days
Kuka robots work on Tesla Model X in the Tesla factory in Fremont, California, on Thursday, July 26, 2018. Mason Trinca | The Washington Post | Getty Images Tesla informed employees in its Fremont, California, factory on Friday that its Model S and Model X electric vehicle production lines will close from December 24th to… Continue reading Tesla tells employees Model S and X production will shut down for 18 days
Ford adds new off-road ‘Tremor’ pickup to its profitable F-150 lineup
2021 Ford F-150 Tremor Ford Ford Motor is expanding its highly profitable truck lineup with a new off-road “Tremor” model for the F-150 pickup. The 2021 F-150 Tremor, announced Tuesday, features all-terrain equipment upgrades in addition to several new features of a redesigned version of the pickup, which is arriving nationwide to dealers across the… Continue reading Ford adds new off-road ‘Tremor’ pickup to its profitable F-150 lineup
General Motors will not offer buyouts to GMC dealers who don’t want to sell Hummer EVs
2022 GMC Hummer EV sport utility truck “Edition 1” GM DETROIT – General Motors does not plan to offer buyouts to GMC dealers like it has for franchise owners of its Cadillac brand who don’t want to invest in stores to sell all-electric vehicles. Duncan Aldred, vice president of GMC, said the brand is executing… Continue reading General Motors will not offer buyouts to GMC dealers who don’t want to sell Hummer EVs
About 150 Cadillac dealers take GM buyouts rather than invest in EVs
General Motors released this teaser image of an illuminated Cadillac crest on the front of the Lyriq ahead of the crossover’s debut. GM DETROIT – About 150 General Motors dealers have accepted buyouts and will stop selling Cadillacs as the Detroit automaker pivots the luxury brand to lead its all-electric vehicle efforts, a person familiar… Continue reading About 150 Cadillac dealers take GM buyouts rather than invest in EVs
JPMorgan ‘skeptical’ about GM producing Nikola badger pickup
Nikola Motor Company Source: Nikola Motor Company JPMorgan is “skeptical” about Nikola finalizing a deal with General Motors to produce an electric pickup truck called the Badger for the embattled vehicle start-up. Instead, JPM analyst Paul Coster expects the two companies to renegotiate a previously announced $2 billion deal without the Badger, focusing on GM… Continue reading JPMorgan ‘skeptical’ about GM producing Nikola badger pickup
Tesla recalls 9,500 Model X and Model Y cars over roof, bolt issues
Elon Musk, chairman and chief executive officer of Tesla Motors David Paul Morris | Bloomberg | Getty Images Tesla is recalling more than 9,500 of its Model X and Model Y electric vehicles over potentially faulty roof trim and bolts that could be inadequately tightened. The company’s stock dipped slightly early Wednesday before trading up… Continue reading Tesla recalls 9,500 Model X and Model Y cars over roof, bolt issues
Nikola shares fall after CEO fails to reassure investors GM won’t pull out of $2 billion deal
Nikola Motor Company Two truck Source: Nikola Motor Company Shares of embattled electric vehicle start-up Nikola Corp. fell by as much as 17.4% during trading Wednesday morning after CEO Mark Russell failed to reassure investors that the company’s $2 billion deal with General Motors would still go through and that ousted founder Trevor Milton wouldn’t… Continue reading Nikola shares fall after CEO fails to reassure investors GM won’t pull out of $2 billion deal