Autos
RBC upgrades Tesla to outperform, says automaker can fend off competition for years to come
Tesla will be able to maintain its leadership status in electric vehicles throughout the decade, according to RBC Capital Markets. Analyst Joseph Spak upgraded Tesla to outperform from market perform, saying in a note to clients on Sunday evening that the electric automaker should be able to fend off competitors long term due to its […]
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More South Korea businesses hit as trucker strike enters 7th day
Truck drivers and members of the Korean Confederation of Trade Unions shout slogans during a demonstration on Friday, June 10, 2022. South Korean petrochemical firms on Monday joined the automobile and steel makers in cutting operations due to mounting inventories as transport disruptions from a strike by truckers spread quickly across Asia’s manufacturing powerhouse. SeongJoon […]
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Chinese automakers want to bring assisted driving to the masses
Jidu, Baidu’s electric car venture alongside Geely, revealed its first concept car on June 8, 2022. Baidu BEIJING — As Chinese companies race for a slice of the world’s largest car market, they’re betting heavily on assisted driving technology. China sold nearly 21.5 million passenger cars last year. That’s roughly the equivalent of sales in […]
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QuantumScape promised a revolutionary EV battery. Here’s why investors are still waiting
A solid-state battery development lab for QuantumScape. QuantumScape The electric vehicle space has seen a handful of impressive stock market debuts in recent years, but battery start-up QuantumScape’s first few weeks of trading were remarkable even by EV stock standards. QuantumScape, which was founded in 2010, went public via a merger with a special-purpose […]
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South Korean trucker strike plans to block shipments of materials for semiconductors
A general view of the Busan Port on November 05, 2021 in Busan, South Korea. South Korean truckers embarked on broader and more aggressive strike action on Friday, threatening to severely curtail shipments of raw materials for semiconductors and petrochemical products. Chung Sung-jun | Getty Images News | Getty Images South Korean truckers embarked on […]
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Tesla cancels three June online hiring events for China
In this April 2022 photo, a Tesla store is seen in Changzhou, China. The country made more than half of the vehicles for the automaker globally and contributed a quarter of its revenue in 2021. Sheldon Cooper | Sopa Images | Lightrocket | Getty Images Tesla has canceled three online recruitment events for China scheduled […]
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It’s not Apple or Tesla, but Inrix has data from 500 million vehicles taking transportation into the future
Cars and trucks move along the Cross Bronx Expressway, a notorious stretch of highway in New York City that is often choked with traffic and contributes to pollution and poor air quality on November 16, 2021 in New York City. Spencer Platt | Getty Images In this weekly series, CNBC takes a look at companies […]
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GM and Lockheed are taking their lunar rover project to the commercial space market
MILFORD, Mich. — General Motors and Lockheed Martin said Thursday they plan to produce an array of moon-roving vehicles for commercial space missions and services powered by the automaker’s electric vehicle battery technology. The companies said they plan to test the batteries in space later this year, with the goal of having their first vehicle […]
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Tesla’s China output decline trending deeper than Musk forecast, data and internal memos show
Tesla China-made Model 3 vehicles are seen during a delivery event at its factory in Shanghai, China January 7, 2020. Aly Song | Reuters Production at Tesla’s Shanghai factory is on track to fall by over a third this quarter from the first three months of the year as China’s zero-Covid lockdowns caused deeper disruptions to […]
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Nio reports wider first-quarter loss as Covid shutdowns in China hamper deliveries
Nio’s et5 electric sedan is set to begin deliveries in Sept. 2022. Nio Chinese electric-vehicle maker Nio lost $281.2 million in the first quarter, wider than the $68.8 million it lost a year ago, as it scrambled to keep pace with intense demand amid China’s recent Covid-related shutdowns. Here are other key numbers from Nio’s […]
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