Amazon is beginning to roll out some of the electric delivery vans that it developed with Rivian Automotive, the companies announced Thursday. In September 2019, Amazon founder and then-CEO Jeff Bezos stood on stage at the National Press Club in Washington, D.C., to announce that the company had purchased 100,000 electric vehicles from the startup
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5:18 PM ET Associated Press LONG POND, Pa. — Denny Hamlin turned the fastest lap at Pocono Raceway and will lead the NASCAR Cup Series field to green Sunday at Pocono Raceway. Hamlin is joined on the front row by Joe Gibbs Racing teammate Kyle Busch. Hamlin went 169.991 mph on the 2½-mile tri-oval track
Herbert Diess took over at Volkswagen Groupfour years ago when the German automaker was in crisis, under pressure to make dramatic changes in strategy and culture, and the former BMW executive offered a new vision. Prominent among them, Diess’s effort to create a Germany-centered software business, CARIAD, within Volkswagen, and a promised stock market listing
In this article GM The Cadillac Celestiq show car previews an upcoming electric sedan for General Motors. GM DETROIT – General Motors on Friday previewed what its most expensive Cadillac ever will look like as the automaker attempts to redefine the quintessential American luxury brand into an electric vehicle leader. The Detroit automaker unveiled a
1:17 AM ET Associated Press SONOMA, Calif. — Leah Pruett led Top Fuel qualifying Friday night in the Denso NHRA Sonoma Nationals at Sonoma Raceway. Coming off a victory last week in Colorado, Pruett had a 3.689-second run at 327.59 mph in her Tony Stewart Racing dragster during the lone qualifying session of the day.
Cardboard boxes are delivering more than parts to Yanfeng Automotive Interiors’ North American plants — they’re also delivering millions in production savings. Humble cardboard cartons, among the lowliest commodities in the long auto manufacturing supply chain, have gotten an innovative new design from a third-party supplier that allows Yanfeng to reuse them repeatedly back and
In this article VOW’-IT Herbert Diess, CEO of Volkswagen Sean Gallup | Getty Volkswagen CEO Herbert Diess will leave the company at the end of August, the company said Friday. Oliver Blume, currently the CEO of Volkswagen subsidiary Porsche, will succeed Diess as of Sept. 1. The automaker didn’t provide a reason for Diess’ departure.
5:51 PM ET Associated Press NEWTON, Iowa — IndyCar champion Alex Palou insisted Friday he wasn’t lying last month when he told The Associated Press he was happy driving for Chip Ganassi Racing, wasn’t talking to any other teams, and was set to return to the No. 10 next season. Well, something dramatically changed in
Automotive mirror supplier Gentex Corp. said Friday that ongoing component shortages and reduced light-vehicle production led to lower second-quarter profits, but also touted a sales increase compared with 2021. The Zeeland, Mich., company, which primarily produces automatic-dimming rearview mirror and camera-based driver-assistance systems, said net income decreased 16.3 percent to $72.4 million. Gentex’s earnings are
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 Friday’s key moments. 1. Mixed earnings signals on consumer strength 2. Social media stocks get slammed 3. Get ready for the most important week of earnings season 1. Mixed earnings signals on consumer
After decades spent working for others, Volkswagen Group of America CEO Scott Keogh this week was given control over a bag of seed money, handed the equivalent of a roughly sketched map and sent off on his own. Keogh, 53, was named CEO — as well as the first and thus far only employee —
In this article TSLA Pedestrians walk through a street crossing in front of the American electric company car Tesla Motors official authorized car dealer store in Hong Kong, July 13, 2022. Budrul Chukrut | SOPA Images | Lightrocket | Getty Images Shares of Tesla jumped nearly 10% on Thursday, one day after the electric car
6:20 PM ET One team is stalling on Lewis Hamilton’s diversity charter for Formula One, the seven-times world champion revealed on Thursday. The Mercedes driver would not name the team. “We are very close to getting this diversity inclusion charter going and I think it’s still one team, still the same team, is not willing
After multiple price hikes that pushed Tesla’s bestselling Model Y above $65,000 for the base version, CEO Elon Musk said the automaker’s overall pricing is “at embarrassing levels” and blamed supply chain shocks and overwhelming demand for the steady march upward. “We’ve raised our prices quite a few times,” Musk said on the company’s second-quarter
Jim Watson | AFP | Getty Images It’s no secret that used-car prices have skyrocketed over the last two years amid an industry turned upside down by supply-chain issues and reduced new-car inventory. But how much extra are consumers paying? An average of $10,046 more — 43% — than if typical depreciation expectations were in
Tesla Inc. reported higher-than-expected quarterly profits as a string of price increases on its best-selling electric vehicles helped offset production challenges caused by COVID-19 lockdowns in China. “With each of the Fremont and Shanghai factories achieving their highest-ever production months and new factory growth, we are focused on a record-breaking second half of 2022,” Tesla
In this article VOW3-DE TSLA 7269.T-JP 7205.T-JP 7203.T-JP A Toyota Mirai hydrogen fuel cell vehicle photographed in Berlin, Germany, in August 2021. The Japanese automotive giant started working on the development of fuel-cell vehicles back in 1992. Krisztian Bocsi | Bloomberg | Getty Images Automotive giant Toyota, along with three other partners, will work on
General Motors‘ defense unit said Tuesday it has been selected by the U.S. Army to provide a battery-powered electric vehicle for “analysis and demonstration.” GM Defense said it will leverage the GMC Hummer EV to meet the Army’s requirement of a “light to heavy duty battery electric vehicle to support reduced reliance on fossil fuels