Production is now set to begin at the former Detroit-Hamtramck assembly plant, less than two years after GM announced the massive $2.2 billion investment to fully renovate the facility to build a variety of all-electric trucks and SUVs. Photo by Jeffrey Sauger for General Motors DETROIT – President-elect Donald Trump’s victory over Vice President Kamala […]
Ford workers produce the electric F-150 Lightning pickup at the automaker’s Ford Rouge Electric Vehicle Center on Dec. 13, 2022. Michael Wayland | CNBC DETROIT — Ford Motor plans to halt production of its all-electric F-150 Lightning from mid-November until early next year to address bloated inventories and narrow losses on the pickup trucks. The […]
A Carvana sign and signature vending machine in Tempe, Arizona. Michael Wayland | CNBC Carvana on Wednesday raised its 2024 earnings guidance after the online used-car retailer significantly topped Wall Street’s third-quarter expectations. Here’s how the company performed in the third quarter, compared with average estimates compiled by LSEG: Earnings per share: 64 cents vs. […]
Ford and Lincoln vehicles are displayed for sale at a Ford dealership on August 21, 2024 in Glendale, California. Mario Tama | Getty Images DETROIT — Ford Motor guided to the low end of its previously announced 2024 earnings forecast as it slightly topped Wall Street’s third-quarter expectations. The Detroit automaker said Monday it now […]
Tesla and SpaceX CEO Elon Musk has engaged in secret talks with Russian President Vladimir Putin since late 2022, according to reporting published Thursday by The Wall Street Journal. Citing “several current and former U.S., European and Russian officials,” the Journal reported that conversations between Putin and Musk, a Republican megadonor and Pentagon contractor, took […]
Carlos Tavares, chief executive officer of Stellantis NV, speaks to the media at the Stellantis auto manufacturing plant in Sochaux, France, on Thursday, Oct. 3, 2024. Nathan Laine | Bloomberg | Getty Images DETROIT — Automaker Stellantis plans to shutter and sell its large vehicle proving grounds in Arizona at the end of this year, […]
Brand new Lucid electric cars sit parked in front of a Lucid Studio showroom on May 24, 2024 in San Francisco, California. Justin Sullivan | Getty Images Shares of Lucid Group dropped by more than 10% during after-hours trading following the electric vehicle startup announcing a public offering of nearly 262.5 million shares of its […]
After Wall Street balked at Tesla‘s highly-anticipated robotaxi unveiling, CNBC’s Jim Cramer told investors not to make any moves on the stock. While he said he wouldn’t recommend buying Tesla after Thursday night’s event flopped, Cramer discouraged shorting the stock, saying it’s “dangerous to bet against” CEO Elon Musk. “Even though Tesla’s robotaxi event was […]
Ratan Tata speaks during an interview. Pradeep Gaur | Mint | Getty Images Tributes from industry leaders, politicians and the public at large poured in for Ratan Tata, the former chairman of India’s Tata Sons, who passed away on Wednesday, aged 86. India’s Prime Minister Narendra Modi in a post on X called Tata “a […]
Uber is driving on the road in Krakow, Poland, on July 4, 2024. Nurphoto | Nurphoto | Getty Images Uber CEO Dara Khosrowshahi on Tuesday announced that the company is updating its platform with new sustainability-minded features, including an “EV preference” that will let customers opt for fully electric vehicles by default, whenever they hail […]
