In this article RIDE RIVN 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
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Taiwan’s Foxconn, best known as the manufacturer of the iPhone, is now in the car manufacturing business. Lordstown Motors on Wednesday said the $230 million deal announced in the fall to sell its sprawling 6.2 million-square-foot plant to Foxconn has closed. The deal transfers to Hon Hai Technology Group — which trades under the Foxconn
In this article RIDE Workers install door hinges to the body shell of a prototype Endurance electric pickup truck on June 21, 2021 at Lordstown Motors’ assembly plant in Ohio. Michael Wayland / CNBC Embattled electric vehicle start-up Lordstown Motors said Wednesday it has closed a $230 million deal to sell its Ohio factory to
MEXICO CITY – General Motors and a new independent union at the U.S. automaker’s biggest Mexican plant have reached a deal for a new workers’ contract that includes raises and benefits above inflation, the union said on Wednesday. The negotiations at GM’s plant in the central city of Silao in Guanajuato state marked a high-profile
In this article GM 2023 Cadillac Escalade V-Series Cadillac DETROIT — General Motors’ newest Cadillac Escalade will be the most powerful and expensive version of the full-size SUV ever when it goes on sale this summer, starting at about $150,000. The Detroit automaker unveiled the 2023 Cadillac Escalade-V on Wednesday with a supercharged 6.2-liter V-8
7:00 PM ET Charles Leclerc and Carlos Sainz chat after locking out an all-Ferrari front row for the Miami Grand Prix. Hasan Bratic/picture alliance via Getty Images MIAMI – Lewis Hamilton said the late pit stop Mercedes offered him and he declined to take felt like an unnecessary risk as he once again bemoaned the timing
In this article TSLA Employees work at the Tesla Gigafactory in Shanghai, east China, Nov. 20, 2020. U.S. electric car company Tesla in 2019 built its first Gigafactory outside the United States in the new Lingang area, with a designed annual production capacity of 500,000 units. Ding Ting | Xinhua News Agency | Getty Images
Shift Technologies said it cut positions last month equating to about 10 percent of its corporate team and is pausing its expansion into the Las Vegas market as the online used-vehicle retailer focuses on trimming costs and operating more efficiently. San Francisco-based Shift said Tuesday in a shareholder letter disclosing its first-quarter financial results that
2:08 PM ET Associated Press INDIANAPOLIS — Sarah Fisher is getting a promotion for this month’s Indianapolis 500. Race organizers announced Tuesday they selected the IndyCar veteran and local fan favorite to be the celebrity pace car driver for the May 29 race. Fisher has been the regular pace-car driver for series events at Indianapolis
In this article TSLA Signage outside the new Tesla South Austin showroom within the Yard development in Austin, Texas, U.S., on Saturday, Oct. 16, 2021. Mark Felix | Bloomberg | Getty Images Tesla will cover travel and lodging costs for employees to receive health-care services not offered in the states they reside. The policy, which
Carvana Co. plans to lay off 2,500 employees, or about 12 percent of its work force, according to a document it filed Tuesday with the U.S. Securities and Exchange Commission. Those employees are primarily in Carvana’s operations groups, the company said. In connection to those cuts, the online used-vehicle retailer will “transition operations away” from
6:50 PM ET William E. Ricks When you think of Miami, sunny beaches, neon lights and thrilling nightlife experiences might come to mind, and rightfully so. This past week, however, South Beach was the epicenter of action-packed sporting events. The Miami Heat‘s journey toward a Larry O’Brien Trophy continued in the Eastern Conference semifinals against
In this article RIDE The Lordstown Motors Corp. Endurance electric pickup truck sits on stage during an unveiling event in Lordstown, Ohio, U.S., on Thursday, June 25, 2020. Matthew Hatcher | Bloomberg | Getty Images Struggling electric vehicle start-up Lordstown Motors said that it’s on track to begin production of its Endurance pickup in the
Online used-vehicle retailer Vroom Inc. said Monday that its COO, Tom Shortt, will join its board of directors and succeed Paul Hennessy as the company’s CEO. The change is effective immediately, as Hennessy has “stepped down to pursue other opportunities,” Vroom said. The company also released its first-quarter earnings on Monday, reporting ecommerce revenue of
8:29 AM ET MIAMI — In the hours before the Miami Grand Prix, Formula One’s paddock was teeming with VIPs, sport stars and celebrities. Everywhere you looked, famous faces emerged from the crowd. Tom Brady crossed paths with Michael Jordan in the Mercedes garage. David Beckham greeted the Williams sisters outside Red Bull. Pharrell Williams
In this article RIVN FSR NKLA LCID Rivian CEO RJ Scaringe inside the company’s customer experience center outside of its plant on Aptil 11, 2022 in Normal, Ill. Michael Wayland / CNBC Electric-vehicle maker Rivian Automotive will report its first-quarter earnings after market close on Wednesday. Wall Street analysts polled by Refinitiv expect a loss
DETROIT — Bollinger Motors, the startup electric vehicle manufacturer in suburban Detroit that is trying to enter the red-hot commercial EV market, moved one step closer to its goal Monday. The company said it has inked a deal with Roush Industries to manufacture Class 3 through Class 6 commercial electric chassis cabs and the platforms
5:47 PM ET Britain’s Jamie Chadwick won the season opener in Miami with fellow Brit Jessica Hawkins third, and Marta Garcia of Spain second. Mark Thompson/Getty Images Britain’s Jamie Chadwick made a perfect start to her bid for a third W Series title by winning the season-opening race of the all-female championship with a last lap