Browsing: Autos
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…
An employee performs final inspection on a Mercedes-Benz C-Class sedan at the Mercedes-Benz U.S. International Plant in Vance, Alabama.Andrew Caballero-Reynolds | AFP | Getty ImagesBenz The company’s shares fell more than 8% on Friday, becoming the latest automaker to cut its guidance this year as sluggish demand in China and trade disputes weigh on the industry.The company said late on Thursday it now expects group earnings before interest and tax (EBIT) to be “significantly lower” than the previous year, with adjusted return on sales to be between 7.5% and 8.5%, down from its previous forecast of 10% to 11%.The stock…
Cylib, a startup backed by Porsche and Bosch, is building a large-scale electric vehicle battery recycling facility in the small town of Dormagen in Germany’s North Rhine-Westphalia region.SelibCylib is building a massive battery recycling plant in Germany, a startup working to reduce waste from electric vehicle batteries that have reached the end of their useful life.Cylib, backed by luxury sports car company Porsche Home appliance maker Bosch started construction on Monday on a new factory in the town of Dormagen in the German federal state of North Rhine-Westphalia.With an investment of more than €180 million ($200 million), the 236,000-square-foot facility…
A Volvo logo is displayed at the Volvo Cars Hill Country dealership in Austin, Texas on September 4, 2024.Brandon Bell | Getty Images News | Getty ImagesEuropean car giants face a host of challenges on the road to full electrification, including a lack of affordable models, a slower-than-expected rollout of charging stations and the potential impact of European tariffs on Chinese-made electric vehicles.Volvo Cars announced on Wednesday it had abandoned its heavily promoted plan to sell only electric cars by 2030, citing the need to be “pragmatic and flexible” in changing market conditions.The Swedish automaker said it currently aims to…
Employees leave the Volkswagen plant in Zwickau after a work meeting. Europe’s largest carmaker announced it would once again tighten austerity measures at Volkswagen’s core brands amid worsening conditions.Image Alliance | Image Alliance | Getty ImagesGerman car giant Volkswagen said on Tuesday it would scrap six labor agreements as the company’s standoff with unions and its works council intensifies.”The company believes it is forced to do this due to the current economic challenges,” Volkswagen said in a statement translated by CNBC.Volkswagen said it would end employment protection agreements in place for German employees since 1994, as well as salary agreements…
Toyota’s “We Roll Deep Anthem” commercial features fans and NFL stars “embarking on an adrenaline-filled NFL adventure.”screenshotAfter a slowdown in recent years, automakers are getting back into advertising during the National Football League season.Toyota Motor Corporation, Hyundai Motor Company The Detroit automaker is expected to use the NFL and its games as a major advertising platform in the coming months. In particular, Toyota will enter the football season as the “Official Automotive Partner of the NFL,” a first for the world’s largest automaker.”There [are] There are many variables affecting budgets, but automakers are already starting to rebound. Paramount CBS Sports,…