Christina Locopo | CNBC Tesla’s vice president of hardware design engineering, Pete Bannon, is leaving the company after first joining in 2016 from Apple, CNBC has confirmed. Bannon was leading the development of Tesla’s Dojo supercomputer and reported directly to Musk. Bloomberg first reported on Bannon’s departure, and added that Musk ordered his team to… Continue reading Tesla exec leading development of chip tech and Dojo supercomputer is leaving company
Author: CNBC Online news
Toyota, world’s largest carmaker, cuts annual profit forecast by over $4 billion as U.S. tariffs bite
A sign with the Toyota logo in Surrey, England on August, 2023 Peter Dazeley | Getty Images News | Getty Images Toyota Motor on Thursday cut its annual operating profit forecast as the world’s largest auto company by sales volumes grapples with U.S. auto tariffs. Here are Toyota’s results compared with the mean estimates from… Continue reading Toyota, world’s largest carmaker, cuts annual profit forecast by over $4 billion as U.S. tariffs bite
Amazon’s Zoox robotaxi unit clears regulatory hurdle, safety probe
Amazon’s Zoox robotaxi unit is ramping up vehicle production at a new facility in Hayward, California. Zoox Amazon‘s Zoox has cleared a key regulatory hurdle, paving the way for demonstrations of its self-driving robotaxis. The National Highway Traffic Safety Administration said Wednesday that it granted Zoox an exemption from some requirements, a first for U.S.-built… Continue reading Amazon’s Zoox robotaxi unit clears regulatory hurdle, safety probe
Uber beats on revenue, announces $20 billion stock buyback
watch now Uber reported second-quarter results on Wednesday that beat on revenue and announced the authorization of a $20 billion stock buyback. Here’s how the company did versus analysts’ estimates compiled by LSEG: Earnings per share: 63 cents vs. 63 cents expected. Revenue: $12.65 billion vs. $12.46 billion expected. Here are the key segment numbers: Mobility (gross bookings): $23.76 billion, up… Continue reading Uber beats on revenue, announces $20 billion stock buyback
Musk says Tesla is training an upgraded Full Self-Driving model which could be released next month
The Tesla Motors Inc. logo. Michael Short | Bloomberg | Getty Images Tesla is now training a new Full Self-Driving model boasting “big” video improvements and size upgrades, CEO Elon Musk said Wednesday on social media. “Tesla is training a new FSD model with ~10X params and a big improvement to video compression loss. Probably… Continue reading Musk says Tesla is training an upgraded Full Self-Driving model which could be released next month
Honda Motor quarterly profit halves, missing estimates as U.S. auto tariffs bite
A sign marks the location of a Honda dealership in Libertyville, Illinois, on Dec. 18, 2024. Scott Olson | Getty Images Japanese auto giant Honda‘s first-quarter operating profits fell 50% year over year on Wednesday, missing estimates due to U.S. auto tariffs and a stronger yen. Here are Honda’s results compared with the mean estimates… Continue reading Honda Motor quarterly profit halves, missing estimates as U.S. auto tariffs bite
Lucid softens full-year production forecast as EV maker misses second-quarter estimates
A Lucid Air electric vehicle (EV) at the company’s showroom in Tysons, Virginia, US, on Saturday, Feb. 17, 2024. Samuel Corum | Bloomberg | Getty Images Lucid Group on Tuesday softened its production outlook for the rest of the year as it reported second-quarter earnings that missed Wall Street expectations. The electric vehicle maker now… Continue reading Lucid softens full-year production forecast as EV maker misses second-quarter estimates
Tesla sales in Britain and Germany fall by more than 55% as China’s BYD soars
Tesla vehicles are parked outside of a dealership on July 24, 2025 in Austin, Texas. Brandon Bell | Getty Images Tesla‘s new car sales plummeted in both Britain and Germany in July, according to industry data published Tuesday, extending a protracted European downturn for the U.S. electric automaker. Data published by the U.K.’s Society of… Continue reading Tesla sales in Britain and Germany fall by more than 55% as China’s BYD soars
Noted Tesla analyst Adam Jonas moving into new role at Morgan Stanley
Adam Jonas, Morgan Stanley auto analyst. CNBC Noted Morgan Stanley auto research analyst Adam Jonas will be stepping into a new role at the firm. Save for a brief stint as a researcher at a European competitor, Jonas has been with Morgan Stanley (and predecessor firm Dean Witter) since graduating from college, eventually working his… Continue reading Noted Tesla analyst Adam Jonas moving into new role at Morgan Stanley
Tesla awards Musk $29 billion in shares with prior pay package in limbo
watch now Tesla‘s board has awarded CEO Elon Musk an interim pay package of 96 million shares, according to a filing out Monday, which would be worth about $29 billion. The company said in the filing that Musk’s new package will include shares that vest in two years as long as he continues as CEO… Continue reading Tesla awards Musk $29 billion in shares with prior pay package in limbo