Formula 1’s off-season was unusual. It is natural for drivers to swap teams, and several indeed did, but for several team principals and senior executives to move around is rare. But before the season started, there were major changes. Mattia Binotto resigned from Ferrari and was replaced by Frédéric Vasseur, who had been the team… Continue reading Formula 1’s Many Changes at the Top
Category: US Motoring Press
With a Redesigned Car, Mercedes Hopes It Can Unseat Red Bull as F1 Champion
There was a period during its record streak of eight consecutive world championships from 2014 to 2021 that Mercedes seemed unbeatable. Yet when new rules were introduced to Formula 1 last year, changing the car designs to provide better racing, Mercedes’ prospects strikingly changed. The team failed to adjust to the new rules as well… Continue reading With a Redesigned Car, Mercedes Hopes It Can Unseat Red Bull as F1 Champion
Rivian Lost $6.8 Billion Last Year as Production Fell Short
Rivian, a maker of electric trucks, said on Tuesday that it lost $1.7 billion in the final three months of last year as it struggled with production difficulties. The loss brings the company’s total losses for 2022 to $6.8 billion and highlights the troubles that once-promising start-ups are having gaining ground on Tesla, which dominates… Continue reading Rivian Lost $6.8 Billion Last Year as Production Fell Short
U.S. Eyes Trade Deals With Allies to Ease Clash Over Electric Car Subsidies
BENGALURU, India — The Biden administration hopes to reach limited free trade agreements with countries in Europe and Asia that would not require congressional approval as it looks to ease allies’ concerns about legislation that President Biden signed into law last year, Treasury Secretary Janet L. Yellen said on Friday. The law, known as the… Continue reading U.S. Eyes Trade Deals With Allies to Ease Clash Over Electric Car Subsidies
Lucid Motors Steps Up Production as Supply Chain Problems Ease
Lucid Motors said on Wednesday that it increased production of its luxury electric sedans by more than 50 percent in the fourth quarter, as better supplies of parts and materials allowed the company to slightly exceed its manufacturing target for the full year. The carmaker said it produced 7,200 vehicles in 2022, its first year… Continue reading Lucid Motors Steps Up Production as Supply Chain Problems Ease
Tesla to Recall 362,000 Cars With Its ‘Full Self Driving’ System
Tesla is recalling more than 362,000 cars equipped with its Full Self Driving driver-assistance system after government regulators found it increased the risk of accidents. The company’s technology, which can steer, accelerate, brake and change lanes on its own, allows vehicles to travel above legal speed limits and through intersections in “an unlawful or unpredictable… Continue reading Tesla to Recall 362,000 Cars With Its ‘Full Self Driving’ System
Shoichiro Toyoda, Who Helped Make Toyota a Global Force, Dies at 97
TOKYO — Shoichiro Toyoda, the chief of the automotive giant Toyota, who led the company as it expanded production into North America in the 1980s and helped transform it into a global brand, died on Tuesday. The son of the company’s founder, he was 97. Toyota said in a statement that the cause was heart… Continue reading Shoichiro Toyoda, Who Helped Make Toyota a Global Force, Dies at 97
Tesla Will Open Some Chargers to All Electric Vehicles
Tesla will open some of its fast chargers, which had been exclusive to its customers, to all electric vehicles by the end of next year, the Biden administration said on Wednesday as it announced a broad effort to improve charging and encourage more people to buy battery-powered vehicles. The company’s network of fast chargers has… Continue reading Tesla Will Open Some Chargers to All Electric Vehicles
Warren Buffett-backed BYD announces new shock absorption tech for premium EVs
BYD’s Han electric car, pictured here at the 2021 Shanghai auto show, is one of the most popular new energy vehicles in China. Evelyn Cheng | CNBC SHENZHEN, China — Electric vehicle giant BYD is banking on new driver-assist technology to smooth out car rides and get the edge on its EV competition. BYD, backed… Continue reading Warren Buffett-backed BYD announces new shock absorption tech for premium EVs
Club meeting recap: Jim Cramer says ‘buy Ford, don’t sell it,’ while also touting Caterpillar
Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Monday’s key moments. Labor costs still elevated Watch Caterpillar Buy Ford 1. Labor costs still elevated Stocks ticked lower Monday. It was the first regular trading session since Friday’s jobs report from the… Continue reading Club meeting recap: Jim Cramer says ‘buy Ford, don’t sell it,’ while also touting Caterpillar