GM said it is investing millions of dollars into a company that plans to extract lithium from the Salton Sea Geothermal Field in Imperial, California. Go to Source
Author: CNBC Online news
Embattled EV start-up Lordstown touts ‘real employees at a real plant’ as it seeks capital infusion
Executives with EV start-up Lordstown Motors this week are hoping to convince Wall Street investors and analysts that they can be a “real” automaker. Go to Source
Chinese Tesla rival Xpeng Motors to raise up to $2 billion in Hong Kong listing
Xpeng Motors will raise money to compete in China’s increasingly crowded electric car market against the likes of Tesla and Nio. Go to Source
Jeep Grand Cherokee L arriving in showrooms to expand brand’s reach
The 2021 Grand Cherokee L is scheduled to arrive in Jeep showrooms next week as the first three-row model for the brand in more than a decade. Go to Source
Auto insurance rates rise, but insurers could still qet squeezed by higher costs ahead
Auto insurers refunded $14 billion in premiums last year, according to the Insurance Information Institute. Rates have since stagnated or declined. Go to Source
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