A Xpeng G9 is displayed at a store in a mall in Beijing on Feb. 29, 2024. Wang Zhao | AFP | Getty Images BEIJING — Self-driving taxis won’t be a significant business for at least five years, Xpeng Vice Chairman and Co-President Brian Gu said Thursday. That prediction comes as Elon Musk has promoted … Read more
Pictured here is the Zeekr 001 electric car at a services trade fair in Beijing on Aug. 31, 2023. China News Service | China News Service | Getty Images BEIJING — Chinese electric car brand Zeekr is selling more vehicles than Tesla in parts of China, and plans to expand in Europe and Latin America … Read more
Ford Motor on Wednesday evening delivered higher than expected profits in the first quarter, driven by strength in its commercial business. Positive updates to its full-year outlook helped send shares rallying by roughly 2.5% in after-hours trading. Automotive revenue increased 2% year over year, to $38.89 billion, missing analysts’ forecasts of $40.1 billion, according to … Read more
Elon Musk speaks onstage during The New York Times Dealbook Summit 2023 at Jazz at Lincoln Center on November 29, 2023 in New York City. Slaven Vlasic | Getty Images Tesla shares surged more than 10% on Wednesday morning after CEO Elon Musk said the electric vehicle company plans to begin production of new affordable … Read more
Tesla CEO Elon Musk is pictured during a visit at the company’s electric car plant in Gruenheide near Berlin, eastern Germany, on March 13, 2024, as employees resumed work after production had to be halted due to a suspected arson attack that caused a power outage. Odd Andersen | AFP | Getty Images By just … Read more
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. (We’re no longer recording the audio, so we can get this new written feature to members as quickly as possible.) Markets up: The S & P … Read more
India’s electric vehicle sector still lacks competition, but entry from international automakers like Tesla will level the playing field, MG Motor India’s CEO Emeritus Rajeev Chaba said. “Competition is limited at this point of time. Numbers are still constrained because consumers don’t have compelling choices,” Chaba told CNBC’s Sri Jegarajah in Gurugram, India. According to … Read more
The Xiaomi SU7 on display at the Mobile World Congress 2024. Arjun Kharpal | CNBC BEIJING — Chinese smartphone company Xiaomi‘s new electric vehicle is selling better than expected, putting it closer to break-even despite undercutting Tesla‘s Model 3 on price. Xiaomi has received more than 70,000 orders for its electric SU7 sedan as of … Read more
Tesla CEO Elon Musk speaks at the Tesla Giga Texas manufacturing “Cyber Rodeo” grand opening party in Austin, Texas, on April 7, 2022. Suzanne Cordeiro | AFP | Getty Images Tesla is eliminating around 12% of its workforce at a factory in Austin, Texas, as part of a broader restructuring the company announced last week. … Read more
Tesla vehicles sit on the lot at a Tesla dealership on April 15, 2024 in Austin, Texas. Brandon Bell | Getty Images Tesla is set to report first-quarter earnings after the bell on Tuesday. Here’s what analysts are expecting, according to LSEG: Earnings per share: 51 cents Revenue: $22.15 billion Wall Street is projecting that revenue will … Read more
