Auto insurers refunded $14 billion in premiums last year, according to the Insurance Information Institute. Rates have since stagnated or declined. Go to Source
Author: CNBC Online news
Tesla begins deliveries of its new Model S Plaid
CEO Elon Musk had hyped the vehicle as the “quickest production car ever made” in weeks before the event. Go to Source
California will allow GM-backed Cruise to transport passengers in driverless test vehicles
The California Public Utilities Commission authorized Cruise to give passengers rides in prototype robotaxis. Go to Source
Tesla shares drop on report of steep May sales decline in China
Investors were shaken by a single-sourced report that Tesla net orders in China had nearly halved between April and May. Go to Source
Tesla is recalling up to 7,696 Model 3 and Y vehicles over seat belt issues
Tesla has issued three separate recalls this week after problems with assembly caused potential safety issues. Go to Source
Ford to expand profitable truck lineup with new small Maverick pickup
The Ford Maverick pickup is expected to be among the smallest and cheapest pickups in the U.S., filling a void for some buyers. Go to Source
Tesla recalls hundreds of Model 3 cars that were shipped to China
The recall affects 734 vehicles produced in 2019, according to China’s market regulator, which cited a recall plan that Tesla filed. Go to Source
Tesla faces pressure as EV competition heats up, ex-Ford CEO says
Elon Musk pushed the auto industry to adopt electric vehicles, but the shift has since turned into a major challenge for Tesla, ex-Ford CEO Mark Fields said. Go to Source
Inside Redwood Materials, former Tesla CTO’s effort to recycle batteries for rare components
Lithium-ion batteries are everywhere — in phones, laptops, tablets, cameras and increasingly cars. Demand for lithium-ion batteries has risen sharply in the past five years and is expected to grow from a $44.2 billion market in 2020 to a $94.4 billion market by 2025, mostly due to the boom in electric cars, according to MarketsandMarkets.… Continue reading Inside Redwood Materials, former Tesla CTO’s effort to recycle batteries for rare components
GM unveils electric Hummer SUV topping $110,000
The 2024 GMC Hummer EV SUV and 2022 GMC Hummer EV sport utility truck, or SUT. GM DETROIT – General Motors unveiled an all-electric Hummer SUV Saturday that will top $110,000 when it goes on sale in 2023. The vehicle will be the stablemate to an upcoming Hummer pickup that’s scheduled to go on sale… Continue reading GM unveils electric Hummer SUV topping $110,000