Intel’s Mobileye said on Tuesday it was targeting a valuation of nearly $16 billion in its initial public offering, less than a third of what it had previously expected, as volatility in stock markets and rising interest rates dampen the appetite for new listings. The self-driving unit of Intel said in a regulatory filing it
Tesla (TSLA) is about to release Q3 2022 financial results on Wednesday, October 19, after the markets close. As usual, a conference call and Q&A with Tesla’s management are scheduled after the results. Here we’ll take a look at what both the street and retail investors are expecting for the quarterly results. Tesla Q3 2022
Kodiak Robotics truck in front of an IKEA store. Source: Kodiak Robotics Self-driving truck startup Kodiak Robotics said that it has begun a pilot program with IKEA in Texas. A semitruck equipped with Kodiak’s autonomous driving system is making daily delivery runs from an IKEA warehouse near Houston to a store close to Dallas, roughly
This 1915 Packard represented the Pebble Beach Preservation class well this year. It’s straight 6 engine ran the early days as an original Indianapolis Speedway Pacecar and was built by the great automotive innovator Carl Fisher. Carl’s legacy of opening the first car dealership as well as founding the Indy Speedway live on through the
Behold the most advanced, most luxurious and one of the most important vehicles Cadillac has ever made, the 2024 Celestiq. Serving as the flagship for the brand’s electric future, the hand-crafted, ultra-luxury flagship will help Cadillac reestablish itself as the Standard of the World, the automaker claims. Starting off with the design, the 2024 Celestiq production model
PARIS — Renault Group CEO Luca de Meo does not see price parity between electric cars and combustion engine models coming anytime soon. “I do not see this parity getting close,” he told reporters on the sideline of the Paris auto show. De Meo said that eight years ago the industry was expecting the cost
The Dodge Charger Daytona SRT concept is an electrifying preview of things to come, but customers can already snag an electric Challenger SRT Hellcat if they’re willing to make a few tradeoffs. Key among them is a top speed of 2.8 mph (4.5 km/h), which is conveniently the same figure as road-going models in Security
DETROIT — The Cadillac Celestiq, a sleek, futuristic-looking five-door electric sedan coming in just over a year, represents more than just a new ultraluxury offering from General Motors. The Celestiq is the start of a new way of doing business for the luxury brand that harks back to an old rivalry — Cadillac vs. Rolls-Royce.
2024 Cadillac Celestiq Cadillac DETROIT – Cadillac is testing the limits of its brand allure and pricing power with the 2024 Celestiq – a large, bespoke electric car that will start at more than $300,000. The vehicle – unveiled Monday night – launches the General Motors brand into the ultra-luxury segment against the likes of
Hyundai has issued a recall on certain vehicles equipped with the automaker’s 8-speed dual-clutch automatic transmission. An issue with the transmission can cause the vehicle to enter a fail-safe mode, after which power is reduced for about 30 seconds and then completely shuts down, which could lead to a crash. Drivers may notice warning lights
By Simon Alvarez Posted on October 17, 2022 Elon Musk may have expressed concerns about the US economy earlier this year, but according to job listings on Tesla’s website, the most valuable automaker in the world is now trying to grow its headcount in nearly every division of the company. Back in June, Musk noted
PARIS — Renault and Stellantis unveiled new French-made electric vehicles at the Paris auto show on Monday, as President Emmanuel Macron announced bigger subsidies for poorer families to buy EVs and pushed for more local production. In an interview with business daily Les Echos before visiting the show, Macron said EV subsidies for lower-income households
10:42 AM ET Formula One teams who spend more than allowed by the rules are effectively cheating and should face stiff sporting and financial penalties, McLaren boss Zak Brown wrote to FIA, F1’s governing body. The BBC reported details of the letter on Monday and McLaren confirmed they were correct. Championship leaders Red Bull, who
Stellantis may stop manufacturing cars in China as geopolitical tensions escalate and western manufacturers cede market share to domestic players. The producer of Peugeot and Citroën cars may implement an “asset-light” strategy for those brands in the world’s largest auto market, CEO Carlos Tavares said Monday. Earlier this year, he used the same phrase to
Lyft Inc. is increasing the service fee its U.S. riders pay directly to the company to cover higher insurance costs, the ride-hailing firm said. The increase averages less than 50 cents per trip nationally, a Lyft spokesperson said. The company pays for drivers’ insurance when they are working on its platform. “Lyft is facing insurance
In this article STLA-IT Follow your favorite stocksCREATE FREE ACCOUNT The Stellantis CEO Carlos Tavares photographed next to a Jeep Avenger at the Paris Motor Show on October 17, 2022. Nathan Laine | Bloomberg | Getty Images The CEO of Stellantis told CNBC Monday that the company would use its own sites to generate half
HANOI — Vietnam’s VinFast will recall 730 of its model VF e34 electric cars, which are available only on the domestic market, to make checks and replace their side crash sensors. VinFast, which began operations in 2019, is a unit of Vietnam’s biggest conglomerate Vingroup and has sold 2,208 EVs in total since its launch
An expanding Swickard Auto Group entered Southern California via a majority stake purchase of John Elway’s Crown Toyota in Ontario, one of the Japanese automaker’s highest-volume U.S. dealerships. And the dealership’s price tag also fetched near-record blue sky value, according to the broker who facilitated the sale. Blue sky is the intangible value of a