Author: CNBC Online news

Lucid reports record quarterly vehicle deliveries, meets production target

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 Lucid Group on Monday reported record quarterly vehicle deliveries for the fourth quarter and confirmed production of more than 9,000 vehicles in 2024 — meeting a previously announced target.… Continue reading Lucid reports record quarterly vehicle deliveries, meets production target

Volkswagen and Xpeng to build super-fast charging network in China for EVs

Top Volkswagen and Xpeng executives pose at the German automaker’s launch event in Beijing, China, on Aug. 24, 2024. Bloomberg | Bloomberg | Getty Images Shares of Volkswagen and Xpeng both rose on Monday after the two firms announced plans to expand their partnership in electric vehicle charging stations in China. The German automaker and… Continue reading Volkswagen and Xpeng to build super-fast charging network in China for EVs

Tesla posted record China sales in 2024. But this year is going to be tough as competition heats up

Tesla models Y and 3 are displayed at a Tesla dealership in Corte Madera, California, on Dec. 20, 2024. Justin Sullivan | Getty Images Electric vehicle-maker Tesla’s sales in China climbed to a record high last year. Sustaining that performance in 2025 could prove tricky as competition with homegrown players intensifies, analysts said. The U.S.… Continue reading Tesla posted record China sales in 2024. But this year is going to be tough as competition heats up

GM, Ford report best annual U.S. sales since 2019 as auto recovery continues

Attendees view the 2025 Ford Bronco Stroppe Special Edition during the AutoMobility LA 2024 auto show at the Los Angeles Convention Center on November 21, 2024. Robyn Beck | Afp | Getty Images DETROIT – Sales of new vehicles in the U.S. continued to rise last year, rebounding from historical lows caused by the coronavirus… Continue reading GM, Ford report best annual U.S. sales since 2019 as auto recovery continues

Rivian stock has its best day ever after EV maker reports 2024 production, deliveries

Rivian electric vehicles (EV) are parked at the Rivian Venice Hub on November 13, 2024 in Venice, California.  Mario Tama | Getty Images Shares of Rivian Automotive recorded their best day ever after the electric vehicle maker reported 2024 production and deliveries that were in line with its previously announced expectations. Rivian stock closed Friday… Continue reading Rivian stock has its best day ever after EV maker reports 2024 production, deliveries

Hindenburg Research shorts Carvana, calling company’s turnaround a ‘mirage’

CFOTO | Future Publishing | Getty Images Noted short seller Hindenburg Research disclosed a bet against Carvana on Thursday, claiming the online used-car retailer’s recent turnaround is a “mirage” that is being propped up by unstable loans and accounting manipulation. The report, called “Carvana: A Father-Son Accounting Grift For The Ages,” centers on Carvana’s practice… Continue reading Hindenburg Research shorts Carvana, calling company’s turnaround a ‘mirage’

Tesla shares slide after it reports first drop in annual deliveries

watch now Tesla posted its fourth-quarter vehicle production and deliveries report on Thursday. Here are the key numbers: Total deliveries Q4 2024: 495,570 Total production Q4 2024: 459,445 Total annual deliveries 2024: 1,789,226 Total annual production 2024: 1,773,443 Results for the quarter represented the first annual drop in delivery numbers for Tesla, which reported 1.81 million deliveries… Continue reading Tesla shares slide after it reports first drop in annual deliveries

China’s electric car boom is increasingly more about hybrids

A Leapmotor vehicle with range extension is on display at the company’s headquarters in Hangzhou, China, on June 22, 2024. Bloomberg | Bloomberg | Getty Images BEIJING — Hybrid-powered vehicles are proving more popular than battery-only ones in China, even as consumers shift away from gas-only cars, full-year data show. BYD, by far the market… Continue reading China’s electric car boom is increasingly more about hybrids

Waymo dominated U.S. robotaxi market in 2024, but Tesla and Amazon’s Zoox loom

A Waymo rider-only robotaxi is seen during a test ride in San Francisco, California, U.S., December 9, 2022.  Paresh Dave | Reuters Despite General Motor’s decision to shutter its Cruise robotaxi business earlier this month, the U.S. has never been closer to a driverless future.  For the autonomous vehicle industry, 2024 will be remembered as… Continue reading Waymo dominated U.S. robotaxi market in 2024, but Tesla and Amazon’s Zoox loom