Autos
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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The stocks of several electric vehicle companies are surging
Rivian R1T all-electric truck in Times Square on listing day, on Wednesday, Nov. 10, 2021 in New York. Ann-Sophie Fjello-Jensen | AP Beaten-up shares of several electric-vehicle start-ups moved sharply higher Thursday morning in wild and largely unexplained trading. Rivian Automotive after market close on Wednesday reported a first-quarter loss that was narrower than Wall […]
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Rivian is recalling about 500 of its electric pickups for a child-safety defect
Rivian R1T Field pickup Source: Rivian Rivian Automotive is recalling some of its electric pickups because of an airbag defect that could injure a child in a crash, according to a letter from the National Highway Traffic Safety Administration dated Wednesday. A total of 502 R1Ts are affected, about 10% of Rivian’s total vehicle production […]
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GM shares hit new 52-week low following Wells Fargo downgrade
Mary Barra, Chair and CEO of the General Motors Company (GM), speaks during the Milken Institute Global Conference in Beverly Hills, California, on May 2, 2022. Patrick T. Fallon | AFP | Getty Images DETROIT — Shares of General Motors on Thursday hit a new 52-week low and opened at their lowest price since November […]
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‘The most dumb thing’: Elon Musk dismisses hydrogen as tool for energy storage
Elon Musk has a history of expressing strong opinions about hydrogen and hydrogen fuel cells. A few years ago, when the subject came up during a discussion with reporters at the Automotive News World Congress, the electric vehicle magnate described hydrogen fuel cells as “extremely silly.” Jim Watson | AFP | Getty Images Tesla CEO […]
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