Mercedes-AMG GT 43 4MATIC+ on display at Brussels Expo on January 9, 2020 in Brussels, Belgium. Sjoerd Van Der Wal | Getty Images News | Getty Images Mercedes-Benz shares gained around 5% on Thursday after the German carmaker beat fourth-quarter earnings expectations and announced a new share buyback program, despite warning of “exceptional” risks in… Continue reading Mercedes shares climb 5% on share buyback, despite ‘exceptional’ uncertainty ahead
Author: CNBC Online news
Tesla faces hurdle in Germany as locals vote to oppose factory expansion
Employees of the Tesla Gigafactory Berlin-Brandenburg work on a production line of a Model Y electric vehicle on March 20, 2023. Patrick Pleuil | Picture Alliance | Getty Images Electric vehicle maker Tesla failed to secure a vote among locals in favor of authorizing a major factory expansion for the company’s battery and car assembly… Continue reading Tesla faces hurdle in Germany as locals vote to oppose factory expansion
Ford, UAW reach local labor deal to avert strike at Kentucky plant
Ford Super Duty trucks are seen at the Kentucky Truck assembly plant in Louisville, Kentucky, on April 27, 2023. Joe White | Reuters Ford and a United Auto Workers local union, UAW Local 62, reached a tentative deal on Wednesday to avert a strike at the automaker’s most profitable plant. The UAW had threatened that… Continue reading Ford, UAW reach local labor deal to avert strike at Kentucky plant
EV boat maker Arc debuts a premium wake sport model for $258,000
Arc Boat Company’s fully electric Arc Sport model gets four to six hours of typical use on a single charge. Arc Boat Company Arc Boat Company began sales of its second electric boat model in just three years this week. The new $258,000 Arc Sport was designed for wake sports enthusiasts and follows the company’s… Continue reading EV boat maker Arc debuts a premium wake sport model for $258,000
Xpeng plans to hire 4,000 people, invest in AI as CEO warns intense EV rivalry may end in ‘bloodbath’
The Xpeng G9 SUV is on display during the 20th Shanghai International Automobile Industry Exhibition at the National Exhibition and Convention Center in Shanghai, April 18, 2023. VCG | Visual China Group | Getty Images Xpeng plans to hire 4,000 new people and invest in artificial intelligence technology, according to the company’s CEO, who warned… Continue reading Xpeng plans to hire 4,000 people, invest in AI as CEO warns intense EV rivalry may end in ‘bloodbath’
Companies — profitable or not — make 2024 the year of cost cuts
Mathisworks | Digitalvision Vectors | Getty Images Corporate America has a message for Wall Street: It’s serious about cutting costs this year. From toy and cosmetics makers to office software sellers, executives across sectors have announced layoffs and other plans to slash expenses — even at some companies that are turning a profit. Barbie maker… Continue reading Companies — profitable or not — make 2024 the year of cost cuts
What the U.S. can learn from Norway when it comes to EV adoption
Norway boasts the highest electric vehicle adoption rate in the world. Some 82% of new car sales were EVs in Norway in 2023, according to the Norwegian Road Federation (OFV). In comparison, 7.6% of new car sales were electric in the U.S. last year, according to Kelley Blue Book estimates. In the world’s largest auto… Continue reading What the U.S. can learn from Norway when it comes to EV adoption
UAW threatens to strike Ford truck plant in Kentucky if local issues aren’t resolved
United Auto Workers President Shawn Fain during an online broadcast updating union members on negotiations with the Detroit automakers on Oct. 6, 2023. Screenshot DETROIT — The United Auto Workers is threatening a labor strike at Ford Motor’s largest U.S. plant if local union demands aren’t resolved by next week. The Detroit union on Friday… Continue reading UAW threatens to strike Ford truck plant in Kentucky if local issues aren’t resolved
Ford CEO tells Wall Street to forget Tesla, says ‘Pro’ business is the future of the auto industry
Ford Motor Co., CEO Jim Farley gives the thumbs up sign before announcing Ford Motor will partner with Chinese-based, Amperex Technology, to build an all-electric vehicle battery plant in Marshall, Michigan, during a press conference in Romulus, Michigan February 13, 2023. Rebecca Cook | Reuters DETROIT – Ford Motor CEO Jim Farley on Thursday urged… Continue reading Ford CEO tells Wall Street to forget Tesla, says ‘Pro’ business is the future of the auto industry
Jeep, Dodge-maker Stellantis’ profit slides as Detroit Three strikes bite
(L-R) United Auto Workers (U.A.W.) members Kaleb Delfine, Bryan Broecker, Michael Gatto and James Triplett picket outside the Jeep Plant on September 18, 2023 in Toledo, Ohio. Sarah Rice | Getty Images Global auto giant Stellantis on Thursday reported a 10% year-on-year fall in profit in the second half of 2023, as six-week strikes at… Continue reading Jeep, Dodge-maker Stellantis’ profit slides as Detroit Three strikes bite