Autos
Amazon is starting to deliver packages with Rivian electric vans
Amazon said Thursday it will begin to start using electric vans developed in partnership with Rivian to make deliveries. Amazon Amazon is beginning to roll out some of the electric delivery vans that it developed with Rivian Automotive, the companies announced Thursday. In September 2019, Amazon founder and then-CEO Jeff Bezos stood on stage at […]
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Toyota plans to roll out hydrogen fuel-cell trucks for the Japanese market next year
A Toyota Mirai hydrogen fuel cell vehicle photographed in Berlin, Germany, in August 2021. The Japanese automotive giant started working on the development of fuel-cell vehicles back in 1992. Krisztian Bocsi | Bloomberg | Getty Images Automotive giant Toyota, along with three other partners, will work on the development of light-duty fuel cell electric trucks […]
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Baidu’s new robotaxi can drive without a steering wheel and is 50% cheaper
Baidu unveiled on July 21, 2022, the sixth generation of its self-driving electric car built for ride-hailing rides — at a cost nearly 50% below that of a model announced last year. Baidu BEIJING — Chinese tech giant Baidu announced Thursday it has cut the price of its robotaxi vehicles by nearly half, lowering costs […]
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Tesla grows revenue 42%, but automotive margins decline
Tesla reported earnings after the bell, and the results sent the stock up slightly after hours. Earnings per share (EPS): $2.27 (adjusted) vs $1.81 expected, according to Refinitiv Revenue: $16.93 billion, vs. $17.1 billion expected, according to Refinitiv Automotive gross margin came in at 27.9%, down from 32.9% last quarter and 28.4% a year ago, […]
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How to buy your first car without going broke
Buying your first car after graduation (or while you’re still in college) can be tricky — especially at a time like this when prices are soaring. The average price of a new car was $46,000 in June and the average price of a used car was $28,000, both up more than 20% since the start […]
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A top European carmaker suggests the global chip shortage is easing
Volvo Cars, one of Europe’s top car brands, says it’s past the worst of a chip supply crunch that placed a tremendous squeeze on auto production. The company’s semiconductor inventory is now “back at fully supply,” CEO Jim Rowan told CNBC’s “Squawk Box Europe” on Wednesday. “We had guided in the first quarter we were […]
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UK plans $95 million hydrogen gigafactory to produce components for vehicles
A sign for a hydrogen fuel pump at a train refueling station in Germany. Hydrogen has a diverse range of applications and can be used in a number of industries. Krisztian Bocsi | Bloomberg | Getty Images A U.K.-headquartered firm said Monday it was building an £80 million ($95.9 million) “gigafactory” specializing in the manufacture […]
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GM reveals electric Chevrolet Blazer priced starting at $45,000
2024 Chevrolet Blazer SS EV GM DETROIT – General Motors on Monday revealed its new electric Chevrolet Blazer that’s expected to compete against the Ford Mustang Mach-E and Tesla Model Y crossover EVs. The vehicle marks an important launch for the Detroit automaker in attracting attention and more mainstream consumers to EVs. The 2024 Blazer […]
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Ford unveils new F-150 Raptor R pickup with 700 horsepower
DETROIT — As Ford Motor ramps up production of its electric F-150 pickup, it’s not giving up on offering new, highly profitable performance models with gasoline engines. The Detroit automaker Monday morning unveiled the F-150 Raptor R, a new version of its high-performance, off-road pickup with a supercharged 5.2-liter V-8 engine that produces 700 horsepower […]
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Deutsche Bank downgrades General Motors, cites looming pricing risks to automakers
Vehicle makers have struggled amid an ongoing global supply chain crisis, and weakening demand for cars as recession fears mount could spell further trouble for General Motors , Deutsche Bank said. “In conjunction with this 2Q earnings preview, we are downgrading GM to Hold from Buy, amid eventual pricing risk to automakers and the absence […]
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