watch now Tesla said shareholders voted in favor of CEO Elon Musk’s almost $1 trillion pay plan, with 75% support among voting shares. Board members recommended shareholders approve the pay plan, which they introduced in September. Top proxy advisors Glass Lewis and ISS recommended voting against it. Results of the vote were announced on Thursday… Continue reading Tesla says shareholders approve Musk’s $1 trillion pay plan with over 75% voting in favor
Author: CNBC Online news
Ford reportedly considers ending production of all-electric F-150 Lightning
The Ford Lightning is seen at the New York International Auto Show on April 16, 2025. Danielle DeVries | CNBC DETROIT — Ford Motor is reportedly considering ending production of its all-electric F-150 Lightning pickup truck amid mounting losses and more challenging market conditions for EVs. The Wall Street Journal first reported the talks Thursday,… Continue reading Ford reportedly considers ending production of all-electric F-150 Lightning
AI startup Metropolis, biggest parking lot network in U.S., raises $1.6 billion for major retail expansion
watch now Metropolis, which uses AI and computer vision to identify vehicles and take parking lot payments without any physical transaction, has raised $1.6 billion in combined debt and equity in a new fundraising round at a $5 billion valuation. Already the largest parking lot network in the U.S., handling more than 7% of licensed… Continue reading AI startup Metropolis, biggest parking lot network in U.S., raises $1.6 billion for major retail expansion
CarMax stock falls 24% as CEO steps down, used car retailer releases weak outlook
A CarMax dealership in Santa Rosa, California, on April 11, 2023. Justin Sullivan | Getty Images DETROIT – Shares of CarMax Inc. fell 24% trading Thursday after the used car retailer announced a weak preliminary outlook for its current fiscal quarter and said CEO Bill Nash would be unexpectedly stepping down. The preliminary outlook for… Continue reading CarMax stock falls 24% as CEO steps down, used car retailer releases weak outlook
Lucid misses Wall Street expectations, cuts production guidance again
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 DETROIT – Lucid Group missed Wall Street’s expectations for a second consecutive quarter as the all-electric vehicle maker continues to address problems with the launch of its new flagship… Continue reading Lucid misses Wall Street expectations, cuts production guidance again
Tesla sales in Germany have cratered from last year, data shows
Elon Musk, CEO of Tesla Inc., arrives at the Tesla plant in Gruenheide, Germany, on March 13, 2024. Krisztian Bocsi | Bloomberg | Getty Images Tesla sold just 750 electric vehicles in Germany for October 2025, less than half of what it sold a year ago, according to data out Wednesday from the country’s federal… Continue reading Tesla sales in Germany have cratered from last year, data shows
How Chinese EV makers are winning in Brazil
On the streets of Rio de Janeiro, it’s not hard to spot the latest sign of China’s growing global auto ambitions. Electric vehicles from Chinese brands like BYD and Great Wall Motor have been flowing in. “There are a lot of Chinese cars on the streets,” said EV owner Sérgio Ramalho. Brazil has become the… Continue reading How Chinese EV makers are winning in Brazil
Rivian beats Wall Street’s Q3 expectations, maintains guidance
Rivian electric SUV parked outside brick showroom on a sunny day, San Francisco, California, August 19, 2025. Smith Collection/gado | Archive Photos | Getty Images DETROIT – Rivian Automotive beat Wall Street’s expectations for the third quarter, as the company reported a its second quarterly gross profit this year thanks to a joint venture with… Continue reading Rivian beats Wall Street’s Q3 expectations, maintains guidance
Pure EV automakers Rivian, Lucid face growing challenges amid Q3 results
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 DETROIT — Challenges are mounting for all-electric vehicle manufacturers Rivian Automotive and Lucid Group as the companies try to sell investors on a brighter, more profitable future to come.… Continue reading Pure EV automakers Rivian, Lucid face growing challenges amid Q3 results
Luxury carmaker Ferrari beats third-quarter profit expectations as revenues jump
Ferrari technicians inspect supercars on the production line inside the company’s factory in Maranello, Italy, October 2, 2025. REUTERS/Remo Casilli/File Photo Remo Casilli | Reuters Luxury carmaker Ferrari on Tuesday reported stronger-than-expected third-quarter profit, with net revenues jumping more than 7% compared to the same period last year. The Maranello, Italy-based sports car manufacturer posted… Continue reading Luxury carmaker Ferrari beats third-quarter profit expectations as revenues jump