Theo Wargo | Wireimage | Getty Images A rough week for Elon Musk was capped Friday when institutional shareholders in Tesla admonished the company’s board of directors to rein in an “over-committed” CEO in an open letter. The letter follows the midair explosion of the SpaceX Starship rocket in its first test flight Thursday and… Continue reading Elon Musk had a rough week across his empire — Tesla, Twitter and SpaceX
Category: US Motoring Press
Lyft’s new CEO begins tenure with layoffs, reportedly cutting 1,200 jobs
A traveler arriving at Los Angeles International Airport looks for ground transportation during a statewide day of action to demand that ride-hailing companies Uber and Lyft follow California law and grant drivers “basic employee rights” in Los Angeles, California, U.S., August 20, 2020. Mike Blake | Reuters Ride-sharing app Lyft will lay off a significant… Continue reading Lyft’s new CEO begins tenure with layoffs, reportedly cutting 1,200 jobs
Jim Cramer’s top 10 things to watch in the stock market Friday
1. Truist downgraded Tesla (TSLA) to hold from buy, while lowering its price target to $154 per share, from $245. The firm cited the electric vehicle maker’s “brazen willingness to accept lower product margins.” Meanwhile, Barclays lowered its price target on Tesla to $220 per share, from $230, but maintained an overweight rating on the… Continue reading Jim Cramer’s top 10 things to watch in the stock market Friday
Ford’s F-150 leaves tough choices for buyers seeking EV tax credits
This content is only available to subscribers. Get unlimited digital access. $1 for the first 3 months. Subscribe Now Your subscription supports: Trusted, up-to-date local Detroit and Michigan-wide breaking news. Accurate, fact-based journalism without an agenda, so you get the information you need to make informed decisions. Complete coverage and commentary on Michigan politics from… Continue reading Ford’s F-150 leaves tough choices for buyers seeking EV tax credits
Tesla’s struggle to lure buyers paints a grim economic picture
This content is only available to subscribers. Get unlimited digital access. $1 for the first 3 months. Subscribe Now Your subscription supports: Trusted, up-to-date local Detroit and Michigan-wide breaking news. Accurate, fact-based journalism without an agenda, so you get the information you need to make informed decisions. Complete coverage and commentary on Michigan politics from… Continue reading Tesla’s struggle to lure buyers paints a grim economic picture
After 4 price cuts, Tesla raises cost for older models
Detroit — After cutting U.S. vehicle prices four times this year, Tesla raised the cost overnight on its slow-selling more expensive models. The hike could be an effort to appease investors, who dumped shares of Tesla on Thursday after earnings and profit margins dropped due to previous price cuts. The Austin, Texas, company added $2,500 to all… Continue reading After 4 price cuts, Tesla raises cost for older models
Toyota’s new president vows to step on electrification pedal
Tokyo — Toyota’s new president Koji Sato has promised what he called an aggressive shift on “electrification,” while acknowledging criticism that Japan’s top automaker has fallen behind in actual volumes of electric vehicles sold compared to its rivals. “We like to see that as people cheering Toyota on,” to play catchup in electric cars, Sato… Continue reading Toyota’s new president vows to step on electrification pedal
GOP debt ceiling plan with Michigan idea targets unused COVID funds, EV tax credits
This content is only available to subscribers. Get unlimited digital access. $1 for the first 3 months. Subscribe Now Your subscription supports: Trusted, up-to-date local Detroit and Michigan-wide breaking news. Accurate, fact-based journalism without an agenda, so you get the information you need to make informed decisions. Complete coverage and commentary on Michigan politics from… Continue reading GOP debt ceiling plan with Michigan idea targets unused COVID funds, EV tax credits
Second-gen Nio ES6 due in UK with new platform and 490bhp
Chinese premium EV brand Nio has launched the second generation of its ES6 SUV – which is tipped to form part of its line-up when it comes to the UK next year – at the Shanghai motor show. The Audi Q8 E-tron and Mercedes-Benz EQC rival was launched in 2019 and is the firm’s best-selling model in China.… Continue reading Second-gen Nio ES6 due in UK with new platform and 490bhp
New ultra-dense CATL batteries weigh just 2kg per kWh
Chinese battery giant CATL has launched a radical new type of cell with an energy density of 500Wh per 1kg, which could enable electric cars to use far lighter batteries and offer longer ranges. It represents a significant advance in battery technology: the Panasonic 2170 cells used in the Tesla Model 3 are widely reported… Continue reading New ultra-dense CATL batteries weigh just 2kg per kWh