In this article GM F The General Motors world headquarters office is seen at Detroit’s Renaissance Center. Paul Hennessy | LightRocket | Getty Images DETROIT — There’s growing concern among Wall Street analysts that higher costs and supply chain disruptions will put pressure on 2022 earnings for General Motors and Ford Motor — even more
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Electric-vehicle maker Fisker Inc. hopes Canadian supply giant and contract assembler Magna International Inc. can boost production at its plant in Austria to 150,000 vehicles from 2024 as reservations for the automaker’s first vehicle surge. The EV startup says it has taken more than 40,000 reservations for the Ocean SUV, which starts at $37,499 in the
6:27 AM ET IMOLA, Italy — Red Bull boss Christian Horner labelled the team’s one-two finish at the Emilia Romagna Grand Prix one of its best ever performances in Formula One. Red Bull arrived in Imola with a string of reliability issues at recent races which had looked like a serious early threat to its
In this article TSLA TWTR Tesla Inc CEO Elon Musk attends the World Artificial Intelligence Conference (WAIC) in Shanghai, China August 29, 2019. Aly Song | Reuters Tesla and SpaceX CEO Elon Musk, the world’s wealthiest person on paper, is buying Twitter, the social media platform he has relied on for years to promote his
WASHINGTON — Toyota Motor Corp. is once again being targeted by a political action committee after resuming donations to certain federal lawmakers. In a statement Monday, Toyota said it has resumed contributions to some members of Congress after a six-month pause and “extensive discussions with internal and external stakeholders.” “We will not support those who,
12:03 PM ET IMOLA, Italy — Ferrari will be reluctant to admit it, but the pressure ratchets up when it races on home soil. The expectations of victory are always significantly multiplied in Italy and the cost of mistakes become massively amplified. It’s a pressure no other team in F1 faces. Individual drivers may feel
General Motors will launch electrified versions of the Chevrolet Corvette sports car starting next year, GM President Mark Reuss said Monday. Reuss told CNBC that GM will launch an “electrified” version of the Corvette in 2023, followed by a fully electric version later. The all-electric Corvette will be powered by GM’s proprietary Ultium battery platform.
In this article F A Ford F-150 Lightning on display at the New York Auto Show, April 13, 2022. Scott Mlyn | CNBC DETROIT – Ford Motor is set to be the first automaker to bring a mainstream, full-size electric pickup to the U.S. market, poised to capitalize on a first-mover advantage in what’s expected
9:03 PM ET Associated Press BAYTOWN, Texas — Houston native Erica Enders closed Houston Raceway Park with a victory, beating Camrie Caruso on Sunday in the final NHRA SpringNationals in the first all-woman final in NHRA Pro Stock history. Enders had a 6.568-second pass at 210.24 mph in a Chevrolet Camaro for her third victory
TOKYO — Honda Motor Co., in the midst of a massive corporate makeover, is planning a radical ramp-up of electric vehicles in North America, from barely any sales today to enough factory firepower to sell 800,000 in 2030 as the Japanese automaker piles on local capacity to build battery-powered cars. Part of that surge will
2:50 PM ET IMOLA, Italy — Lewis Hamilton wrote off his chances of competing for the Formula One title this year after falling 50 points adrift of championship leader Charles Leclerc at Saturday’s sprint race at Imola. Hamilton finished 14th in the sprint race, which sets the grid for Sunday’s Emilia Romagna Grand Prix, after
Supply constraints sent dealerships’ new-vehicle inventory levels plunging last year, and while 2022 could bring a slight improvement in vehicle production, the industry may not see relief until at least next year, according to the National Automobile Dealers Association. But the coronavirus pandemic and microchip shortage also have made dealers more creative and efficient in
In this article TSLA Options traders are making a ton of noise in Tesla‘s stock as the company gears up to report earnings after the bell Wednesday. The electric vehicle manufacturer headed up by Elon Musk — who continues to make a lot of noise himself — has struggled so far this year, but the
8:54 PM ET Associated Press BAYTOWN, Texas — Steve Torrence took the No. 1 spot in Top Fuel qualifying Saturday at the final NHRA SpringNationals, moving past Brittany Force at Houston Raceway Park. The track that hosted its first national event in 1988 is closing after the event to make room for Katoen Natie’s expanding
Surging demand for light trucks could have BMW expanding production south of the border. BMW is exploring plans to build its top seller — the X3 compact crossover — at its underutilized Mexico assembly plant, according to a production forecaster who has familiarity with the discussions. Such a move would give the luxury automaker elbow
Autonomous driving start-up Pony.ai can collect fares for robotaxi rides in parts of two major Chinese cities as of Sunday. Pony.ai handout BEIJING — Self-driving start-up Pony.ai announced Sunday it received a taxi license, the first of its kind in China. The license allows Pony.ai to operate 100 self-driving cars as traditional taxis in the
2:34 PM ET Associated Press INDIANAPOLIS — The IndyCar Series and Indianapolis Motor Speedway are going green. Penske Entertainment, the parent company of the series, announced Friday that it will start implementing more eco-friendly plans starting with next month’s Indianapolis 500. The race is scheduled for May 29. All tires delivered to the speedway will
CEO of Tesla Elon Musk says he confronted fellow billionaire Bill Gates about whether he was shorting Tesla’s stock. Musk is seen here at the Tesla Giga Texas manufacturing “Cyber Rodeo” grand opening party on April 7, 2022. Suzanne Cordeiro | AFP | Getty Images Elon Musk has accused Microsoft co-founder Bill Gates of shorting