watch now DETROIT — Shares of General Motors saw their largest daily increase since March 2020 on Tuesday after the company topped Wall Street’s third-quarter earnings expectations, increased 2024 guidance and reconfirmed plans for shareholder returns and resilient earnings next year. Shares of the Detroit automaker closed Tuesday at $53.73, up 9.8% — marking the… Continue reading GM stock has best day since 2020 after automaker tops Wall Street’s third-quarter expectations, raises guidance
Author: CNBC Online news
Lucid CEO says Wall Street misinterpreted $1.75 billion capital raise
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 DETROIT — Investors misinterpreted a public offering on Wednesday by… Continue reading Lucid CEO says Wall Street misinterpreted $1.75 billion capital raise
Elon Musk offers $1 million a day to entice swing state voters to sign petition
Tesla CEO and X owner Elon Musk, who supports Republican presidential nominee former U.S. President Donald Trump, gestures as he speaks about voting during an America PAC Town Hall in Folsom, Pennsylvania, U.S., October 17, 2024. Rachel Wisniewski | Reuters Elon Musk said Saturday that he would randomly award $1 million a day to registered… Continue reading Elon Musk offers $1 million a day to entice swing state voters to sign petition
Stellantis to shutter and sell large testing facility amid cost-cutting efforts
Carlos Tavares, chief executive officer of Stellantis NV, speaks to the media at the Stellantis auto manufacturing plant in Sochaux, France, on Thursday, Oct. 3, 2024. Nathan Laine | Bloomberg | Getty Images DETROIT — Automaker Stellantis plans to shutter and sell its large vehicle proving grounds in Arizona at the end of this year,… Continue reading Stellantis to shutter and sell large testing facility amid cost-cutting efforts
Tesla faces NHTSA investigation of ‘Full Self-Driving’ after fatal collision
A Tesla Model 3 vehicle warns the driver to keep their hands on the wheel and be prepared to take over at anytime while driving using FSD (Full Self-Driving) in Encinitas, California, U.S., October 18, 2023. Mike Blake | Reuters Tesla faces a new investigation by the National Highway Traffic Safety Administration, or NHTSA, concerning… Continue reading Tesla faces NHTSA investigation of ‘Full Self-Driving’ after fatal collision
Germany’s auto giants are struggling to stay relevant
A VW Golf GTI stands in a parking lot within sight of the brand tower on the grounds of the VW plant in Wolfsburg, Germany. Julian Stratenschulte| Picture Alliance | Getty Images Germany’s automotive sector, long recognized for producing reliable and innovative internal combustion engine (ICE) cars, is struggling to preserve its relevance in the… Continue reading Germany’s auto giants are struggling to stay relevant
Auto giants launch a flurry of cheaper electric vehicles — taking the fight to China
Carlos Tavares, chief executive officer of Stellantis NV, beside a Citroen C5 Aircross Concept automobile at the Paris Motor Show in Paris, France, on Monday, Oct. 14, 2024. Bloomberg | Bloomberg | Getty Images PARIS, France — Several of Europe’s biggest carmakers unveiled low-cost electric vehicles (EVs) at the Paris Motor Show this week, seeking… Continue reading Auto giants launch a flurry of cheaper electric vehicles — taking the fight to China
Lucid shares tumble following public offering of nearly 262.5 million shares
Brand new Lucid electric cars sit parked in front of a Lucid Studio showroom on May 24, 2024 in San Francisco, California. Justin Sullivan | Getty Images Shares of Lucid Group dropped by more than 10% during after-hours trading following the electric vehicle startup announcing a public offering of nearly 262.5 million shares of its… Continue reading Lucid shares tumble following public offering of nearly 262.5 million shares
Chevrolet aims to defend highly profitable SUV market position with updated Tahoe, Suburban
2025 Chevrolet Tahoe. GM DETROIT — General Motors has updated its highly profitable large SUVs for Chevrolet for the 2025 model year to defend the brand’s long-standing segment leadership. The Detroit automaker’s Chevrolet Tahoe and Suburban have led the mainstream full-size SUV segment for more than 45 years, according to GM. But increased competition from… Continue reading Chevrolet aims to defend highly profitable SUV market position with updated Tahoe, Suburban
GM to invest $625 million in joint venture to mine EV battery raw materials in U.S.
The clay mixture from which lithium will be extracted is held by Tim Crowley, spokesman for Lithium Americas Corp. Carolyn Cole | Los Angeles Times | Getty Images DETROIT — General Motors has agreed to establish a joint venture with Lithium Americas Corp. that includes the automaker supplying $625 million in cash and credit to… Continue reading GM to invest $625 million in joint venture to mine EV battery raw materials in U.S.