Browsing: Autos
On August 7, 2024, new cars of various brands were parked in the parking lot of a car terminal in the Port of Duisburg, Germany, waiting for export.Ina Fassbender | AFP | Getty ImagesThe German automotive industry was once world-renowned for its high-quality, innovative internal combustion engine vehicles. Owning a German car is a symbol of luxury and status. Automakers are booming, boosting the country’s economy.But things have since gotten bleaker.The latest example is Volkswagen Earlier this week, the company said it no longer ruled out closing factories in its native Germany and believed it might need to end a…
Front views of the GMC Sierra Denali, Tesla Cybertruck and Ford F-150 Lightning electric vehicles (from left to right).Michael Weiland/CNBCDetroit – Tesla, General Motors, Rivian Cars and Ford Motor Company A new market has been created in the U.S. auto industry for expensive, powerful, and unstable electric pickup trucks priced at $100,000 or more.Just five years ago, the idea of customers paying six figures for a pickup truck, historically a work vehicle used for hauling and towing, made national headlines. But it’s quickly becoming normal as automakers try to increase profits on traditional trucks and only make profits on electric…
At noon on September 22, 2023, UAW President Shawn Fain, along with members and workers at Mopar Parts Center Line, the Stellantis parts distribution center in Center Line, Michigan, picketed outside the facility after hours.Matthew Hatcher | AFP | Getty ImagesDETROIT — A year after the United Auto Workers launched an unprecedented strike against Detroit automakers, the union is again threatening a work stoppage that could disrupt the U.S. auto industry.UAW announces strike deadline Wednesday Ford Motor Company The plant, which supports the automaker’s Rouge Complex near Detroit, is one of two U.S. plants producing the company’s lucrative F-150 pickup…
Elon Musk (left) and Brazilian Supreme Court Justice Alexandre de Moraes.Reuters (left) | Getty Images (R)Elon Musk’s X faces huge daily fines in Brazil for allegedly evading a local service ban, according to a statement from Brazil’s Supreme Court on Thursday.Brazil’s Supreme Court fined the company $5 million in Brazilian reals per day, or about $920,000. The court said it would continue to impose “joint and several liability” on Starlink, the satellite internet service owned and operated by Musk’s aerospace company SpaceX.Brazil’s chief justice, Alexandre de Moraes, initially ordered the suspension of X’s services in Brazil in late August, and…
On January 14, 2024, rows of new energy vehicles were parked at the automobile distribution center of Changan Automobile in Chongqing, China. Cost Photos | Noor Photos | Getty ImagesShares of Chinese automakers climbed on Tuesday, unaffected by a U.S. government proposal to ban certain types of cars with Chinese and Russian auto parts, and were broadly higher after Beijing announced policy easing. Listed in Hong Kong ideal car It rose more than 8%, while NIO soared 9%. BYD shares rose 2.7% and Geely shares rose 3.3%. Zero Sports Car rose 4.35%. The proposed rule seeks to prohibit the import…
People look at the BYD Dolphin electric mini car during the 2023 Shenyang International Auto Show in Shenyang, Liaoning Province, China, May 3, 2023.VCG | Visual China Group | Getty ImagesDespite the EU’s additional tariffs on Chinese-made cars, especially after last month’s reduction in tariffs, Chinese electric vehicles will remain competitive in Europe.In the latest tariff adjustments at the end of August, Chinese auto giant BYD’s tariffs were reduced from 17.4% to 17%, and Geely Auto’s tariffs were reduced from 19.9% to 19.3%. State Administration for Industry and Commerce dropped from 37.6% to 36.3%.The Rhodium research group said that in…
General Motors Chairman and CEO Mary Barra speaks during the unveiling of the Cadillac Celestiq electric sedan on October 17, 2022 in Los Angeles.Frederic J. Brown | Frederic J. Brown AFP | Getty ImagesWARREN, MI – If all goes according to plan General Motors After spending the past three years, the Detroit automaker is quickly catching up Tesla in the sales of electric vehicles.In October 2021, General Motors Chief Executive Mary Barra declared that the automaker would “absolutely” catch up with the U.S. electric vehicle leader by 2025. The company remains well behind Elon Musk’s automakers and Hyundai Motor Co.…
Elon Musk is on a mission to build a new supercomputer. as CEO Tesla The tech mogul and his new artificial intelligence startup, xAI, have big plans for how artificial intelligence can help enhance his business.In January, he wrote on X that Tesla should be considered an AI/robotics company rather than a car company. Tesla’s customized supercomputer Dojo is key to this transformation. Tesla said it plans to spend $500 million to build a supercomputer in Buffalo, New York. Tesla is also building another supercomputer cluster called Cortex at the company’s headquarters in Austin, Texas.Dojo will use the vast amounts…
Alphabet’s self-driving car unit, Waymo, is finally entering its high-speed development phase. After years of heavy investment and losses, Waymo’s ridership is rebounding in its existing West Coast markets, and the company just signed an expanded partnership with Uber to bring its robotaxi service to the ride-hailing giant’s Texas-based Apps for Atlanta and Austin, ST. Waymo and Uber are already partners in Phoenix. The ridership growth and deeper ties with Uber are important milestones for Waymo and its parent company, which has poured billions of dollars into the venture but appears to have received little return for investors. The timing…
On May 6, 2024, SpaceX and Tesla CEO and X owner Elon Musk attended the Milken Conference 2024 Global Conference held at the Beverly Hilton Hotel in Beverly Hills, California, USA. David Swanson | ReutersThe U.S. Securities and Exchange Commission has asked a federal judge to sanction Musk if he continues to violate court orders by testifying in an investigation into his 2022 acquisition of Twitter.The U.S. Securities and Exchange Commission (SEC) has been investigating whether Musk or others who worked with him committed securities fraud in 2022 Tesla Prior to the leveraged buyout of the company, now known as…