WASHINGTON – The heads of chipmakers GlobalFoundries and Applied Materials and carmakers Ford Motor and General Motors were to meet at a closed-door summit with U.S. government officials on Monday to discuss administration plans to invest in semiconductors. On Tuesday, President Joe Biden will sign legislation to subsidize the U.S. semiconductor industry and boost efforts
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BMW plans an entry-level version of the battery-electric i4 that will start at $52,395, including shipping. The single-motor 2023 BMW i4 eDrive35, debuting in U.S. stores early next year, is the third variant in the i4 portfolio. It delivers 281 hp and has an EPA range of about 260 miles. BMW this year launched the
Chinese tech company Baidu announced Monday it can sell some robotaxi rides without any human staff in the vehicles. Baidu BEIJING — Chinese tech company Baidu said Monday it has become the first robotaxi operator in China to obtain permits for selling rides with no human driver or staff member inside the vehicles. The local
9:05 PM ET Associated Press NASHVILLE, Tenn. — Scott Dixon passed Mario Andretti for second on IndyCar’s all-time wins list with a victory Sunday in the messy Music City Grand Prix that pulled him within reach of a record-tying seventh series championship. Dixon overcame a poor qualifying effort, damage to his Chip Ganassi Racing car,
The Senate passed a landmark tax, climate and health-care bill, speeding a slimmed-down version of President Joe Biden’s domestic agenda on a path to becoming law after a year of Democratic infighting that the White House was unable to control. The bill allows roughly $374 billion in climate and energy spending such as expanded tax
Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Wednesday’s key moments. Oil is all about Russia Quick mentions: AMD, F Eli Lilly reports Thursday 1. Oil is all about Russia U.S. oil prices, as measured by West Texas Intermediate crude futures
In this article HYMPF An XCIENT Fuel Cell truck photographed in South Korea on Nov. 10, 2021. A number of firms in the trucking sector are exploring ways to develop vehicles that use hydrogen. SeongJoon Cho | Bloomberg | Getty Images Hyundai Motor Company is to export 27 of its XCIENT Fuel Cell trucks to
Stellantis put the spotlight on its Black designers and the plush Jeep Grand Wagoneer SUV they shepherded as part of its efforts this summer to commemorate Juneteenth. The design team was featured in a video in which they spoke of being among the few Black people in the field, inspiring others to consider that line
7:57 PM ET Associated Press NASHVILLE, Tenn. — Scott McLaughlin won the second pole of his IndyCar career and Romain Grosjean and Christian Lundgaard earned their highest starting spots of the season in rain-delayed qualifying for the Music City Grand Prix. McLaughlin won the pole on a flying final run around the 11-turn, 2.1-mile course
In this article TWTR “The past two years have been an absolutely nightmare of supply chain disruptions, one thing after another, and we are not out of it yet,” Tesla CEO Elon Musk said. Patrick T. Fallon | Reuters Centi-billionaire Elon Musk provoked Twitter and challenged the company’s CEO Parag Agrawal to a “public debate”
Robert Brockman, the former CEO of dealership management system giant Reynolds and Reynolds Co. who built a multibillion-dollar fortune as a software entrepreneur before he was indicted in a landmark tax-evasion case, has died. He was 81. Brockman, who was suffering from dementia and undergoing home hospice care, died late Friday, said Kathy Keneally, his
In this article TSLA Brand new Tesla cars sit in a parking lot at a Tesla showroom on June 27, 2022 in Corte Madera, California. Justin Sullivan | Getty Images News | Getty Images The California Department of Motor Vehicles has accused Tesla of engaging in deceptive practices around the marketing of its driver assistance
After losing nearly $1 billion in the first half of 2022, Carvana Co. will do more to cut expenses in the coming months, including possibly further reducing employee counts at the online used-vehicle retailer. That direction from company leaders comes after Carvana already worked on cost-cutting in its second quarter, notably announcing in May that
12:20 PM ET McLaren has told Daniel Ricciardo it intends to replace him with Formula 2 champion Oscar Piastri next season, a source close to the Australian driver has confirmed to ESPN. ESPN understands Ricciardo was informed of the decision by team boss Andreas Seidl after the Hungarian Grand Prix on Sunday evening and is
Auto supplier Dana Inc. said net income dropped by nearly 85 percent in the second quarter, reflecting lower operating earnings caused by the unfavorable impact of foreign currency values, a spike in costs and supply chain challenges. Dana reported net income of $8 million — a drop of $45 million from a year earlier. The
In this article NKLA NKLA Nikola Motor Company Source: Nikola Motor Company Nikola on Thursday reported revenue for the second quarter that beat Wall Street expectations as it delivered 48 of its electric heavy trucks. The company also reported a smaller-than-expected loss for the period. Here’s what the company reported compared with what Wall Street
3:25 PM ET Associated Press NASHVILLE, Tenn. — One piece of IndyCar’s silly season fell into place Thursday when Rinus VeeKay announced a multi-year extension with Ed Carpenter Racing. The 21-year-old Dutchman said on Twitter he was staying in the No. 21 Chevrolet, and unlike recent contract dealings in both IndyCar and Formula One, this
Carvana Co. said Thursday it posted a net loss of $439 million in the quarter ending June 30 — a far cry from its landmark $45 million profit one year ago but smaller than its $506 million first-quarter loss. The online used-vehicle retailer, which has been challenged in part by high used-vehicle prices, reported progress