Autos
U.S. traffic deaths reached a 16-year high in 2021, according to government estimates
Investigators look over the scene of a crash between an SUV and a semi-truck full of gravel near Holtville, California on March 2, 2021. Patrick T. Fallon | AFP | Getty Images More people died on U.S. roadways last year than any year since 2005, according to new data released Tuesday by federal vehicle safety […]
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Tesla stops taking orders for Cybertruck outside North America
Tesla co-founder and CEO Elon Musk gestures while introducing the newly unveiled all-electric battery-powered Tesla Cybertruck at Tesla Design Center in Hawthorne, California on November 21, 2019. FREDERIC J. BROWN | AFP | Getty Images U.S. electric vehicle manufacturer Tesla has stopped taking orders for its upcoming Cybertruck pickup truck outside of North America, according […]
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How Carvana went from a Wall Street top pick to trading with meme stocks
Ernie Garcia, CEO, Carvana Scott Mlyn | CNBC Carvana CEO Ernie Garcia III regularly tells Wall Street that “the march continues” in the company’s mission to become the largest and most profitable used car retailer in the world. Its stock price has marched this year as well, just in the wrong direction for investors. Within […]
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Rivian’s shares sink after a report a legal battle with a supplier could delay Amazon vans
Production of electric Amazon delivery vans on April 11, 2022 at Rivian’s plant in Normal, Ill. Michael Wayland / CNBC Shares of Rivian Automotive sank Monday after a report by the Wall Street Journal that the upstart electric-vehicle maker is suing a key supplier in a legal battle that could delay vans ordered by Amazon. […]
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Tesla delays plan to restore Shanghai output to pre-lockdown levels, memo shows
A Tesla store is seen in Shanghai, China, Feb 1, 2022. Costfoto | Future Publishing | Getty Images Tesla has delayed a plan to restore production at its Shanghai plant to levels before the city’s Covid -19 lockdown by at least a week, according to an internal memo seen by Reuters. The U.S. electric car […]
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After the ‘hippie’ bus and the Beetle, VW has its eyes on America once again
As Volkswagen looks to resurrect the Scout brand in the United States, CEO Herbert Diess has shed light on the decision, saying it represents an opportunity for the German auto giant to “become much more American.” VW announced plans to re-launch the Scout as a fully-electric pick-up and “rugged” SUV last Wednesday, with prototypes due […]
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Auto supplier Magna is uniquely positioned to benefit from electric pickups
DETROIT – If electric pickup trucks from the Detroit automakers take off, auto supplier Magna International is in a unique position to benefit from producing a crucial part of the vehicles. The Canadian company produces the enclosures that house the lithium-ion batteries of the Ford F-150 Lightning and Hummer EV pickups. The parts are highly […]
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Elon Musk wants to know how many fake accounts Twitter has, but experts say his approach is all wrong
Tesla CEO Elon Musk sent Twitter shares tumbling on Friday when he said he was going to put his $44 billion acquisition of the social network “on hold” while he researches the proportion of fake and spam accounts on the platform. Though Musk later clarified that he remains committed to the deal, he continued to hammer […]
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Morgan Stanley upgrades Ford, says parts of the automaker’s business are underestimated
After a significant pullback in Ford Motor ‘s share price this year, Morgan Stanley is taking another look at the auto stock. Shares of Ford are down 40% this year, underperforming the S & P 500’s 17.5% decline. “We believe the ‘run-off’ value of Ford’s authentic/emotional ICE (internal combustion engine) vehicles and fleet-oriented commercial end […]
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Start-up investor Jason Calacanis raising millions of dollars for Musk’s Twitter deal
Jason Calacanis Adam Jeffery | CNBC Angel investor Jason Calacanis, an early backer of Uber and Robinhood, is seeking to raise tens of millions of dollars for a stake in Twitter as part of Elon Musk’s $44 billion agreement to buy the social media company. “We are now collecting interest to invest in Twitter with […]
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