After major investor Volvo decided to decrease its stake and cut funding for Polestar early this year, the EV company went in search of $1.3 billion of new funding. It raised a $950 million lifeline three-year loan from a banking syndicate led by BNP Paribas, and told investors it has plans to continue raising the … Read more
Tata Motors Ltd. and Mahindra & Mahindra Ltd. are closing in on Hyundai Motor Co.’s No. 2 position in India, putting pressure on the South Korean automaker just as it prepares for a record $3.5 billion listing of its local unit. While Hyundai has long wrestled with Tata Motors for the second spot, Mahindra — … Read more
Cops in Arizona had a shock last month when they attempted to pull over a car that was driving the wrong way. When they spotted a car heading the wrong way in traffic, they raced after it to pull the car over and ticket the driver, only to find that there was nobody behind the … Read more
Elon Musk attends “Exploring the New Frontiers of Innovation: Mark Read in Conversation with Elon Musk” during the Cannes Lions International Festival Of Creativity 2024 – Day Three in Cannes, France, on June 19, 2024. Marc Piasecki | Getty Images Tesla’s stock price rose enough on Friday to wipe out its loss for the year … Read more
![Electric Amazon Delivery Vans Keep Burning Down, And Chargers May Be To Blame [Update]](https://i.kinja-img.com/image/upload/c_fill,h_675,pg_1,q_80,w_1200/0ffa277958dfb8e9f35ac63ec907228d.gif "Electric Amazon Delivery Vans Keep Burning Down, And Chargers May Be To Blame [Update]")
EV fires, while severe, aren’t as common as some naysayers predicted when electric power first started gaining popularity. So when a pattern in EV fires starts to emerge — say, when Rivian vans keep catching fire at Amazon distribution centers — one starts to wonder why. Rivian Recalls Nearly Every Car It Has Built Video … Read more
Good morning! It’s Thursday, July 4, 2024, and this is The Morning Shift, your daily roundup of the top automotive headlines from around the world, in one place. Here are the important stories you need to know. New York Joins California, Banning Non-Electric Vehicles After 2035 1st Gear: Almost 6 Million GM Cars Released Excess … Read more
The European Union on Thursday confirmed its decision to hike tariffs on electric vehicles imported from China — with one automaker issuing fresh warnings that it may have to raise prices as a result. The European Commission, the executive arm of the European Union, announced plans for such levies in June after concluding in an … Read more
EU countries are wavering over whether to back additional tariffs on Chinese-built electric vehicles, highlighting Brussels’ challenge in building support for its largest trade case yet as Beijing threatens wide-ranging retaliation. Germany, whose carmakers made a third of their sales last year in China, wants to stop the tariffs, according to a government source, while … Read more
This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here. Traders work on the floor of the New York Stock Exchange during morning trading on Oct. 4, … Read more
This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here. Traders work on the floor during morning trading at the New York Stock Exchange (NYSE) on March … Read more
