Ford had another month of strong sales, but a wider appeal on Wall Street for the stock depends on cutting the automaker’s massive EV division losses. Ford said Tuesday it sold more than 190,000 vehicles in May, an 11% increase from a year ago. Sales of internal combustion engine (ICE) vehicles — where most of… Continue reading EV concerns overshadow strong Ford sales. Jim Cramer says the stock is down enough
Author: CNBC Online news
Politics playing a role in electric vehicle adoption: Michigan Gov. Gretchen Whitmer
Gov. Gretchen Whitmer (D-MI) delivers remarks at the SelectUSA Investment Summit in National Harbor, Maryland, on May 4, 2023. Kevin Dietsch | Getty Images The future of the electric vehicle is a critical issue for the U.S. auto industry and its home base of Detroit, Michigan. It’s also increasingly becoming a political issue, according to… Continue reading Politics playing a role in electric vehicle adoption: Michigan Gov. Gretchen Whitmer
Ford EV and hybrid sales surge 65% in May
The Mustang Mach-E on display at the New York International Auto Show on March 28, 2024. Danielle DeVries | CNBC DETROIT – Ford Motor’s U.S. new vehicle sales rose 11.2% last month compared with May of last year, boosted by strong sales growth for all-electric and hybrid models. The Detroit automaker on Tuesday reported roughly… Continue reading Ford EV and hybrid sales surge 65% in May
Meta AI chief LeCun slams Elon Musk over ‘blatantly false’ predictions, spreading conspiracy theories
Elon Musk and Yann LeCun. David Swanson | Gonzalo Fuentes | Reuters Meta‘s chief artificial intelligence scientist Yann LeCun has spent much of the past week sparring with Elon Musk over the Tesla CEO’s treatment of scientists and news organizations, and for spreading false conspiracies on social media. “I like his cars (I own a… Continue reading Meta AI chief LeCun slams Elon Musk over ‘blatantly false’ predictions, spreading conspiracy theories
Elon Musk ordered Nvidia to ship thousands of AI chips reserved for Tesla to X and xAI
Elon Musk, chief executive officer of SpaceX and Tesla and owner of X, speaks at the Milken Conference 2024 in Beverly Hills, California, May 6, 2024. David Swanson | Reuters Elon Musk says he can grow Tesla into “a leader in AI & robotics,” an ambition that he’s said will require a lot of pricey… Continue reading Elon Musk ordered Nvidia to ship thousands of AI chips reserved for Tesla to X and xAI
Jeep expects to grow plug-in hybrid SUV sales by as much as 50% in 2024
A Jeep Wrangler plug-in hybrid electric vehicle (PHEV) during the 2023 New York International Auto Show (NYIAS) in New York, on Wednesday, April 5, 2023. Stephanie Keith | Bloomberg | Getty Images NEW YORK – Jeep plans to grow U.S. sales of its plug-in hybrid electric vehicles by as much as 50% this year as… Continue reading Jeep expects to grow plug-in hybrid SUV sales by as much as 50% in 2024
See inside Ford’s new tech campus, a century-old Detroit train station restored for $950 million
Ford Motor is turning an abandoned train station used for decades as an infamous symbol of Detroit’s downfall and blight into a new technology campus for the automaker and mixed-use property for the city. Michael Wayland / CNBC DETROIT – Ford’s latest project out of the Motor City is the restoration and reopening of an abandoned… Continue reading See inside Ford’s new tech campus, a century-old Detroit train station restored for $950 million
Aston Martin gets a boost from Formula 1 and new high-performance models
watch now With a parade of new models and a marketing tailwind from Formula 1, sports carmaker Aston Martin expects to become cash-flow positive this year, according to Executive Chairman Lawrence Stroll. “We’re now at a really transitional moment, with an inflection point for this company,” Stroll told CNBC. “We’re introducing all our products, finally,… Continue reading Aston Martin gets a boost from Formula 1 and new high-performance models
Top proxy advisor ISS recommends against Elon Musk’s $56 billion Tesla pay package
Elon Musk attends the 2024 Breakthrough Prize Ceremony at Academy Museum of Motion Pictures on April 13, 2024 in Los Angeles, California. Taylor Hill | Getty Images Top proxy advisor Institutional Shareholder Services on Friday recommended Tesla shareholders vote against the reapproval of CEO Elon Musk’s $56 billion pay package and withhold their support from… Continue reading Top proxy advisor ISS recommends against Elon Musk’s $56 billion Tesla pay package
Why there’s a massive copper shortage
Demand for copper is surging. The red metal, considered a barometer for economic health, is a vital component for the construction and defense industries as well as a key component in electric cars, wind turbines and the power grid. But mining companies are having a hard time keeping up. Existing mines and projects under construction… Continue reading Why there’s a massive copper shortage