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
Author: CNBC Online news
Automakers use virtual reality to cut the development time for vehicles like the Hummer EV
General Motors unveiled the 2022 GMC Hummer EV sport utility truck, or SUT, online and during national television broadcasts on Oct. 20, 2020. GM General Motors developed the 2022 GMC Hummer EV in rapid time with help of virtual reality, an increasing trend for the automotive industry before and during the coronavirus pandemic. GM CEO… Continue reading Automakers use virtual reality to cut the development time for vehicles like the Hummer EV
Toyota president: Tesla has ‘not created a real business in the real world yet’
The logo of Toyota Motor is displayed at a company’s car showroom in Tokyo on February 6, 2019. Kazuhiro Nogi | AFP | Getty Images During a Toyota Motors earnings call on Friday, executives answered questions about how they plan to compete in the expanding field of electric vehicles, and took a potshot at Tesla’s… Continue reading Toyota president: Tesla has ‘not created a real business in the real world yet’
GM CEO Mary Barra ‘cautiously optimistic’ on coronavirus recovery, consumer demand
General Motors CEO and Chairman Mary Barra told CNBC on Wednesday she is “cautiously optimistic” about consumer demand returning as well as a global economic recovery as businesses continue to reopen following shutdowns due to the coronavirus pandemic. “We’ve been pleasantly surprised how demand has come back,” she said in a “Squawk Box” interview. Barra said the company… Continue reading GM CEO Mary Barra ‘cautiously optimistic’ on coronavirus recovery, consumer demand
Feds clear General Motors in UAW union corruption probe
FBI agents finish loading materials into a truck out of the home of United Auto Workers President Gary Jones on Wednesday, Aug. 28, 2019. Michael Wayland / CNBC Federal prosecutors this week informed General Motors that it is not currently a target in a yearslong investigation into corruption of the United Auto Workers union. The… Continue reading Feds clear General Motors in UAW union corruption probe
Tesla is dismissing contractors from its California and Nevada factories, sources say
Tesla Chief Executive Office Elon Musk speaks at his company’s factory in Fremont, California. Noah Berger | Reuters Tesla is letting go of contractors from its U.S. car and battery plants, according to three workers and correspondence shared with CNBC. The company is cutting contractors from its workforce, both in its vehicle factory in Fremont,… Continue reading Tesla is dismissing contractors from its California and Nevada factories, sources say
Why BMW and Mercedes made cheap cars that failed and why they keep trying
German brands such as Mercedes-Benz, BMW, and Audi built their reputations on being purveyors of precise engineering cars, luxurious interiors, cutting-edge technology, and above all, pretty high sticker prices. But increasingly, they are selling cars with prices that are quite average. In their quest to grow volumes and reach a broader chunk of the new… Continue reading Why BMW and Mercedes made cheap cars that failed and why they keep trying
GM, Ford studying whether auto factories can be used to make medical supplies in coronavirus fight
GM CEO and Chairman Mary Barra and LG Chem Vice Chairman and CEO Hak-Cheol Shin at the automaker’s battery lab in Warren, Mich., where the companies announced a new $2.6-billion joint venture on Dec. 5, 2019. GM General Motors and Ford are studying whether they can use their auto factories to support production of ventilators… Continue reading GM, Ford studying whether auto factories can be used to make medical supplies in coronavirus fight
Volkswagen to suspend production in Europe, warns of ‘very difficult’ year
Sean Gallup | Getty Images News | Getty Images German carmaker Volkswagen has announced it is preparing to temporarily shut down most of its European plants in the wake of the coronavirus pandemic. Speaking to reporters on Tuesday, Chief Executive Herbert Diess said the company would shut down production at factories operated by the group’s… Continue reading Volkswagen to suspend production in Europe, warns of ‘very difficult’ year
Fiat Chrysler plant workers walk out over coronavirus concerns in Canada
An employee at Fiat Chrysler’s Windsor Assembly Plant works inside the chassis of the Chrysler Pacifica Hybrid in December 2016. Fiat Chrysler Fiat Chrysler’s minivan plant in Canada has halted production following workers refusing to work amid concerns of an employee contracting the coronavirus. There are no confirmed cases of COVID-19 at the plant, however there… Continue reading Fiat Chrysler plant workers walk out over coronavirus concerns in Canada