With President Donald Trump planning to escalate his trade war this week with new tariffs on Canada, Mexico and China, the outsized role that Elon Musk is playing as one of the president’s closest advisors and leader of the Department of Government Efficiency is jeopardizing Tesla and other companies in his diverse business empire. The… Continue reading For Tesla and Elon Musk in Trump’s global trade tariffs war, ‘the genie is out of the bottle’
Author: CNBC Online news
Xiaomi to sell EVs globally ‘within the next few years’ after launching $73,000 premium car
The Xiaomi SU7 Ultra on display at the Xiaomi store in Hangzhou, Zhejiang Province, China, Feb 27, 2025. Xiaomi’s first luxury model, the SU7 Ultra, will be officially launched on the evening of February 27. Cfoto | Future Publishing | Getty Images BARCELONA — Xiaomi plans to begin selling its electric vehicles outside of China… Continue reading Xiaomi to sell EVs globally ‘within the next few years’ after launching $73,000 premium car
FAA clears SpaceX for another Starship test flight after explosion in January
SpaceX’s Super Heavy booster is seen on the launch pad, without the Starship atop, as it is prepared for launch from the company’s Boca Chica launchpad on an uncrewed test flight, near Brownsville, Texas, U.S. Feb. 27, 2025. Joe Skipper | Reuters Elon Musk’s SpaceX has attained authorization from the Federal Aviation Administration to fly… Continue reading FAA clears SpaceX for another Starship test flight after explosion in January
How the German Autobahn ended up without speed limits
Germany’s national highway system — commonly known as the Autobahn — looks like many other highway systems in the world, except for its most famous feature: long stretches where you are legally permitted, at your own risk, to drive your car as fast as you want. This characteristic has given it a kind of mythical… Continue reading How the German Autobahn ended up without speed limits
After abrupt departure of Lucid CEO, here are the EV maker’s top priorities
Lucid Motors CEO Peter Rawlinson poses at the Nasdaq MarketSite as Lucid Motors (Nasdaq: LCID) begins trading on the Nasdaq stock exchange after completing its business combination with Churchill Capital Corp IV in New York City, New York, July 26, 2021. Andrew Kelly | Reuters Shares of electric vehicle maker Lucid Group were down more… Continue reading After abrupt departure of Lucid CEO, here are the EV maker’s top priorities
GM raises quarterly dividend, initiates $6 billion stock buyback
watch now DETROIT – General Motors is raising its quarterly dividend and initiating a new $6 billion share repurchase program as the company attempts to reward investors amid slowing industry sales and profits. GM announced Wednesday it is increasing its quarterly dividend by 25% to 15 cents per share — matching that of crosstown rival… Continue reading GM raises quarterly dividend, initiates $6 billion stock buyback
Crisis-stricken Stellantis sees revenue growth in 2025 after 70% drop in full-year profit
Stellantis worker at work inside of the new Hybrid and PHEV Vehicles Stellantis Group eDCT Assembly Plant on April 10, 2024 in Turin, Italy. Stefano Guidi | Getty Images News | Getty Images Crisis-stricken auto giant Stellantis on Wednesday said it sees return to revenue growth this year after a steep drop in 2024 earnings. The mutlinational conglomerate, which… Continue reading Crisis-stricken Stellantis sees revenue growth in 2025 after 70% drop in full-year profit
Lucid CEO steps down; EV maker plans to more than double production in 2025
Brand new Lucid electric cars sit parked in front of a Lucid Studio showroom in San Francisco on May 24, 2024. Justin Sullivan | Getty Images Electric vehicle maker Lucid Group on Tuesday said CEO Peter Rawlinson is stepping down as the company expects to more than double vehicle production this year to 20,000 units.… Continue reading Lucid CEO steps down; EV maker plans to more than double production in 2025
Tesla’s market cap sinks below $1 trillion as stock slumps more than 8%
Elon Musk, CEO of Tesla Inc., in the Oval Office of the White House in Washington, D.C., on Feb. 11, 2025. Aaron Schwartz | Bloomberg | Getty Images Tesla’s postelection pop has almost disappeared. Shares of the electric vehicle maker plunged more than 8% on Tuesday, pushing the company’s market cap below $1 trillion and… Continue reading Tesla’s market cap sinks below $1 trillion as stock slumps more than 8%
Here’s why Trump tariffs may raise your car insurance premiums
Nitat Termmee | Moment | Getty Images The Trump administration’s tariff policies may raise auto insurance premiums for motorists, according to a new Insurify analysis. This at a time when drivers continue to see costs soar amid pandemic-era inflation. A 25% tariff on imports from Canada and Mexico — which may take effect as soon… Continue reading Here’s why Trump tariffs may raise your car insurance premiums