Transportation
GM’s stock closes below IPO price for first time since October 2020
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 Monday closed below the post-bankrupt automaker’s $33 initial public offering price for the first […]
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Astra’s stock drops 24% after rocket failed to deliver NASA mission to orbit
The company’s LV0010 rocket stands on the launchpad at Florida’s Cape Canaveral ahead of the NASA TROPICS-1 mission. Astra Shares of rocket-builder Astra fell sharply in trading on Monday after a weekend launch carrying NASA satellites failed to reach orbit. Astra’s rocket LV0010 took off on Sunday from launch complex 46 at Cape Canaveral in […]
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American Airlines regional carriers hike pilot pay more than 50% as shortage persists
American Airlines Embraer ERJ-145 regional jet aircraft as seen on final approach landing at New York JFK international airport in NY, on February 13, 2020. Nicolas Economou | Nurphoto | Getty Images Two American Airlines-owned regional carriers will hike pilot pay by 50% through the end of August 2024, the latest sign airlines are willing […]
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Latest Shanghai quarantines add more pressure to global supply chain
Staff members of China Post unload parcels of daily necessities for residents quarantined at home from a minivan on May 14, 2022 in Shanghai, China. Tian Yuhao | China News Service | Getty Images The mass quarantine measures imposed this past weekend in Shanghai, including highway closures, severely affected trucks carrying exports bound for the […]
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FAA requires SpaceX to make environmental adjustments to move forward with its Starship program in Texas
A Starship prototype stands on the company’s launchpad in Boca Chica, Texas on March 16, 2022. SpaceX The Federal Aviation Administration on Monday concluded a long-awaited assessment of SpaceX’s Starship rocket program in Texas, requiring Elon Musk’s company to make environmental adjustments in order to move forward with its plans. FAA released two key documents […]
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CEOs of GM, Ford and other automakers urge Congress to lift electric vehicle tax credit cap
The all-electric Chevrolet Silverado at the New York Auto Show, April 13, 2022. Scott Mlyn | CNBC DETROIT – The CEOs of General Motors, Ford Motor, Chrysler parent Stellantis and Toyota Motor North America are urging Congress to lift the federal government’s cap on the number of vehicles that are eligible for a tax credit […]
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EV start-up Electric Last Mile Solutions plans to declare bankruptcy a year after going public
The ELMS Urban Delivery, anticipated to launch later this year, is expected to be the first Class 1 commercial electric vehicle available in the U.S. market and will be produced at the Company’s facility in Mishawaka, Indiana. Electric Last Mile Solutions EV start-up Electric Last Mile Solutions said late Sunday it plans to file for bankruptcy […]
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Tesla fires Singapore country manager after Elon Musk warns of job cuts
Christopher Bousigues, the Singapore country manager from Tesla, said that his role has been cut as part of a global reduction in the electric carmaker’s workforce. Bousigues said he was responsible for launching the Model Y in Singapore. Bing Guan | Bloomberg | Getty Images Tesla has laid off its Singapore country manager just over […]
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People have talked about ‘flying cars’ for decades. Now they may actually happen
German company Lilium produces flying electric passenger drones. CNBC looks at the company’s testing site in Spain and whether so-called electric vertical takeoff and landing aircraft (eVTOL) — popularly dubbed flying cars can take off. From electric cars to scooters, the world is looking for cleaner and more efficient ways of getting around. Most of […]
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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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