GUANGZHOU, CHINA – NOVEMBER 17: A GAC Aion Hyper SSR electric sports car is on display during the Auto Guangzhou 2023 at China Import & Export Fair Pazhou Complex on November 17, 2023 in Guangzhou, Guangdong Province of China. (Photo by Chen Yihang/VCG via Getty Images) Vcg | Visual China Group | Getty Images China… Continue reading China wants EU to scrap planned higher tariffs and ‘abide by WTO rules,’ state media reports
Author: CNBC Online news
Tesla has downsized by at least 14% this year after Elon Musk said layoffs would exceed 10%
Chief Technology Officer of X Elon Musk speaks onstage during the “Exploring the New Frontiers of Innovation: Mark Read in Conversation with Elon Musk” session at the Lumiere Theatre during the Cannes Lions International Festival Of Creativity 2024 – Day Three on June 19, 2024 in Cannes, France. Richard Bord | Wireimage | Getty Images… Continue reading Tesla has downsized by at least 14% this year after Elon Musk said layoffs would exceed 10%
China has spent at least $230 billion to build its EV industry, new study finds
Workers assemble a Wuling Hongguang Mini EV, an all-electric microcar manufactured by SAIC-GM-Wuling, at a plant of the joint automaker in Qingdao in east Chinas Shandong province Tuesday, Nov. 30, 2021. Future Publishing | Future Publishing | Getty Images BEIJING — China spent $230.8 billion over more than a decade to develop its electric car… Continue reading China has spent at least $230 billion to build its EV industry, new study finds
Startup Kinetic rolls out robots to fix electric cars, and someday robotaxis
Kinetic cofounders: CEO Nikhil Naikal, CTO Sander Marques, COO Chris Weber Courtesy: Kinetic Automation While electric vehicle demand is still increasing in the U.S., the sales growth rate for cars that pollute less has cooled down in 2024 due partly to the high cost of insurance and repairs for tech-laden new models. A 2024 study… Continue reading Startup Kinetic rolls out robots to fix electric cars, and someday robotaxis
Top BofA auto analyst says Detroit automakers need to exit China as soon as possible
Employees on the assembly line produce cars in Mazda’s “Family” line of vehicles at China First Automobile Works (FAW) Group Haima Automobile Co., Ltd. April 6, 2005 in Haikou, Hainan Province, China. China Photos | Getty Images DETROIT – The traditional Detroit automakers – General Motors, Ford Motor and Stellantis – should exit the Chinese… Continue reading Top BofA auto analyst says Detroit automakers need to exit China as soon as possible
Fisker files for bankruptcy protection in wave of EV startups, moment of déjà vu for its founder
Henrik Fisker stands with the Fisker Ocean electric vehicle after its unveiling at the Manhattan Beach Pier ahead of the Los Angeles Auto Show and AutoMobilityLA in Manhattan Beach, California. on Nov. 16, 2021. Patrick T. Fallon | AFP | Getty Images Fisker on Monday became the latest all-electric vehicle startup to file for Chapter… Continue reading Fisker files for bankruptcy protection in wave of EV startups, moment of déjà vu for its founder
Uber, Khosla, Nvidia invest in $200 million funding round for autonomous trucking startup Waabi
Raquel Urtasun, Founder and CEO of Waabi. Courtesy: Waabi Autonomous trucking startup Waabi announced Tuesday it has raised $200 million in an oversubscribed Series B funding round led by existing investors Uber and Khosla Ventures. Waabi’s latest funding round also includes Nvidia, a new investor in the company, as well as Porsche and the venture capital… Continue reading Uber, Khosla, Nvidia invest in $200 million funding round for autonomous trucking startup Waabi
Here’s why car payments are so high right now
Car payments have skyrocketed in recent years due to a combination of high prices and high interest rates. While some relief may come soon, industry insiders say prices may still remain high for quite some time. As of May, customers were paying, on average, $760 a month for an auto loan, according to Moody’s Analytics.… Continue reading Here’s why car payments are so high right now
Used EV price crash keeps getting deeper with ‘premium’ brand idea history
A used 2020 Tesla Model 3 is available for sale on a CarMax lot on March 10, 2022 in Burbank, California. Mario Tama | Getty Images News | Getty Images Back in February, used electric vehicle prices dipped below used gasoline-powered vehicle prices for the first time ever, and the pricing cliff keeps getting steeper… Continue reading Used EV price crash keeps getting deeper with ‘premium’ brand idea history
Why tariffs on Chinese EVs may not work
The Chinese auto sector is increasingly making global automakers and politicians hot under the collar. In the early 1980s, the Chinese auto industry barely existed. Today the country has the capacity to make about 40 million vehicles annually — enough to supply half the world. Only about 25 million cars sold in the country in… Continue reading Why tariffs on Chinese EVs may not work