Elon Musk, CEO of Tesla, speaks during the annual New York Times DealBook Summit in New York City on Nov. 29, 2023. Michael M. Santiago | Getty Images A Delaware judge on Tuesday voided the $56 billion pay package of Tesla CEO Elon Musk, ruling that the company’s board of directors failed to prove “that… Continue reading Elon Musk’s $56 billion Tesla compensation voided by judge, shares slide
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GM to release plug-in hybrid vehicles, backtracking on product plans
General Motors reveals the new 2016 Chevrolet Volt to the media at the 2015 North American International Auto Show on January 12, 2015 in Detroit, Michigan. Getty Images DETROIT – General Motors is changing its product lineup strategy to include plug-in hybrid electric vehicles, CEO Mary Barra told investors Tuesday. Barra did not disclose specific… Continue reading GM to release plug-in hybrid vehicles, backtracking on product plans
Renault shares jump after scrapping plans to list Ampere EV unit
A Renault Scenic electric vehicle (EV) at the Munich Motor Show (IAA) in Munich, Germany, on Tuesday, Sept. 5, 2023. Bloomberg | Getty Images Shares of French car maker Renault jumped 5% in early deals on Tuesday, after the company canceled plans to publicly list its new electric vehicle and software business. Renault said Monday… Continue reading Renault shares jump after scrapping plans to list Ampere EV unit
GM beats Wall Street estimates, forecasts continued strong profit in 2024
watch now DETROIT — General Motors beat Wall Street’s top- and bottom-line expectations for the fourth quarter, while forecasting another strong year despite potential economic and sales head winds. The Detroit automaker’s 2024 guidance calls for net income attributable to stockholders of $9.8 billion to $11.2 billion, or $8.50 to $9.50 earnings per share; adjusted earnings before interest… Continue reading GM beats Wall Street estimates, forecasts continued strong profit in 2024
Race for China’s EV market could last 3 years, BYD says, claiming it wants to work with Tesla
Chinese automaker BYD had one of the biggest stands at the IAA show in Munich, Germany in 2023. Arjun Kharpal | CNBC BEIJING — Competition for China’s electric car market will continue to heat up in the next two to three years, according BYD, which claimed it wants to work with Tesla to grow the… Continue reading Race for China’s EV market could last 3 years, BYD says, claiming it wants to work with Tesla
Tesla recalls nearly 200,000 vehicles in the U.S. over rearview camera bug
BURBANK, CALIFORNIA – JANUARY 16: Tesla electric cars are parked at a Tesla dealership on January 16, 2024 in Burbank, California. Carbon emissions fell by about 1.9 percent in 2023, a positive signal, but further cuts must be implemented if the U.S. hopes to achieve its climate goal of 50 percent emissions cuts by 2030.… Continue reading Tesla recalls nearly 200,000 vehicles in the U.S. over rearview camera bug
Probe into GM’s Cruise finds poor leadership, culture issues at center of accident response
Chevrolet Cruise autonomous vehicles sit parked in a lot on June 08, 2023 in San Francisco, California. Justin Sullivan | Getty Images News | Getty Images Culture issues, ineptitude and poor leadership at General Motors’ Cruise autonomous vehicle unit were at the center of regulatory oversights and coverup concerns that have plagued the company since… Continue reading Probe into GM’s Cruise finds poor leadership, culture issues at center of accident response
GM, Honda begin U.S. fuel cell production in step toward replacing diesel
An employee assembles a fuel cell system in the module final assembly at Fuel Cell System Manufacturing LLC, GM and Honda’s fuel cell joint venture in Brownstown, Michigan. Courtesy image BROWNSTOWN, Mich. – General Motors and Honda Motor have begun commercial production of hydrogen fuel cell systems in a step toward offering alternative zero-emissions solutions… Continue reading GM, Honda begin U.S. fuel cell production in step toward replacing diesel
Elon Musk says Chinese EV makers will ‘pretty much demolish’ most competitors without trade barriers
Elon Musk speaks onstage during The New York Times Dealbook Summit 2023 at Jazz at Lincoln Center on November 29, 2023 in New York City. Slaven Vlasic | Getty Images Elon Musk said Chinese electric auto makers will find “significant” success outside of China, even as his firm, Tesla, faces intense competition from these same… Continue reading Elon Musk says Chinese EV makers will ‘pretty much demolish’ most competitors without trade barriers
Tesla shares close down 12% after automaker warns of slowdown
Tesla and SpaceX CEO Elon Musk reacts during an in-conversation event with British Prime Minister Rishi Sunak in London on Nov. 2, 2023. Kirsty Wigglesworth | Reuters Tesla shares closed down 12% Thursday, their biggest drop in over a year, a day after the company reported earnings that missed expectations and warned of a slowdown… Continue reading Tesla shares close down 12% after automaker warns of slowdown