Chinese companies are aggressively developing autonomous vehicles. In August, China announced that it had issued 16,000 test licenses for driverless cars and opened up about 20,000 miles of roads nationwide for autonomous vehicle testing. But Chinese autonomous vehicle companies have also quietly been testing their technology on U.S. streets. Baidu, Didi, WeRide, Pony.ai and AutoX… Continue reading Here’s why China has been testing its autonomous car technology in the U.S. for years
Author: CNBC Online news
Lilium was once a promising ‘air taxi’ startup worth billions. Now it’s on the brink of insolvency
German company Lilium produces flying electric passenger drones. Lilium German aerospace startup Lilium faces insolvency if it doesn’t raise emergency funding from the state government for the southeastern state of Bavaria. Insolvency would mark a dramatic fall for a startup once touted as Europe’s best chance at building the 21st-century equivalent of “cars” that can… Continue reading Lilium was once a promising ‘air taxi’ startup worth billions. Now it’s on the brink of insolvency
CNBC Daily Open: High interest rate worries pressure stocks
Traders work on the floor at the New York Stock Exchange on March 5, 2024. Brendan Mcdermid | Reuters This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You… Continue reading CNBC Daily Open: High interest rate worries pressure stocks
GM stock has best day since 2020 after automaker tops Wall Street’s third-quarter expectations, raises guidance
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
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