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
Author: CNBC Online news
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.
The solid-state batteries hype is fading – prompting auto giants to consider alternatives
Car batteries at a factory in Nanjing in China’s eastern Jiangsu province. Str | Afp | Getty Images PARIS, France — The push to commercialize solid-state batteries for electric vehicles (EVs) is well underway, but analysts say auto giants could be on the cusp of turning to a different kind of transformative science. Solid-state batteries… Continue reading The solid-state batteries hype is fading – prompting auto giants to consider alternatives
American consumers are increasingly underwater on their car loans
Cars sit in a Chevrolet dealership’s lot in Chicago on June 20, 2024. Scott Olson | Getty Images News | Getty Images DETROIT — A growing number of Americans with auto loans owe more than their vehicles are worth, according to a report Tuesday from Edmunds.com. The auto data and consumer research company reports the… Continue reading American consumers are increasingly underwater on their car loans
Inside a high-tech parking garage where robots valet park your car
watch now Hidden inside a 46-story luxury condominium building in Miami is a massive garage where dozens of busy robots whisk cars to and from parking spots. The futuristic 24/7 operation unfolds across a 13-level garage and employs five car lifts, dozens of lasers and hundreds of bar codes embedded in the floors. Residents who pull… Continue reading Inside a high-tech parking garage where robots valet park your car
From swimming cars to rectangular steering wheels, here’s what’s going on at the Paris auto show
A Peugeot Inception concept car at the Paris Motor Show on October 14, 2024. Riccardo Milani | Afp | Getty Images PARIS, France — Auto giants have descended on the Paris Motor Show to showcase their latest concepts and production models, jostling to capture the public’s attention with eye-catching designs and futuristic technologies. The biennial… Continue reading From swimming cars to rectangular steering wheels, here’s what’s going on at the Paris auto show
Xpeng president says Chinese EV firm remains committed to Europe despite pressure from tariffs
watch now Chinese electric vehicle maker Xpeng remains committed to Europe for the long term despite pressure it faces from the European Union’s tariffs, according to a top company official. “Our plan for Europe is a very long term one,” Brian Gu, Xpeng’s vice chairman and co-president, told CNBC’s Charlotte Reed Monday at the Paris… Continue reading Xpeng president says Chinese EV firm remains committed to Europe despite pressure from tariffs
Trump or Harris? Here are the 2024 stakes for airlines, banks, EVs, health care and more
Former President Donald Trump and Vice President Kamala Harris face off in the ABC presidential debate on Sept. 10, 2024. Getty Images With the U.S. election less than a month away, the country and its corporations are staring down two drastically different options. For airlines, banks, electric vehicle makers, health-care companies, media firms, restaurants and… Continue reading Trump or Harris? Here are the 2024 stakes for airlines, banks, EVs, health care and more
Jim Cramer says hold still on Tesla stock after Cybercab debut flops
watch now After Wall Street balked at Tesla‘s highly-anticipated robotaxi unveiling, CNBC’s Jim Cramer told investors not to make any moves on the stock. While he said he wouldn’t recommend buying Tesla after Thursday night’s event flopped, Cramer discouraged shorting the stock, saying it’s “dangerous to bet against” CEO Elon Musk. “Even though Tesla’s robotaxi… Continue reading Jim Cramer says hold still on Tesla stock after Cybercab debut flops