Tesla CEO Elon Musk stole the show when he unveiled details about the company’s innovative Cybertruck in Austin, Texas, just a day after his eccentric appearance at the DealBook Summit in New York where he claimed, “It will be the biggest product launch of anything by far on Earth this year.” In a dimly lit …
Ford Motor Company is scaling back its $3.5 billion battery plant plans in Michigan as the shift to electric vehicles is slower than expected. This is partly due to rising labor costs and efforts to cut expenses. The decision comes after initial announcements in February to partner with Chinese battery manufacturer Contemporary Amperex Technology Co., …
After reaching a tentative agreement on Saturday with the United Auto Workers union, Stellantis, the parent company of Chrysler, is now facing a national labor strike in Canada. The new strikes in the Canadian province of Ontario are impacting two assembly plants that produce the Chrysler 300 sedan, Pacifica minivan, Dodge Challenger, and Charger muscle …
Local United Auto Workers union leaders approved a tentative agreement with Ford that includes $8.1 billion in new plant investments and $5,000 ratification bonuses. The 4 ½-year tentative agreement will now be presented to 57,000 UAW-Ford members for regional informational meetings and voting. The agreement was reached after targeted strikes against Ford, General Motors, and …
A Cruise vehicle in San Francisco, California, on Wednesday Feb. 2, 2022. David Paul Morris | Bloomberg | Getty Images Cruise, the autonomous vehicle startup owned by General Motors, has temporarily halted its driverless operations following multiple collisions, ongoing investigations, regulatory disagreements, and the suspension of its licenses in California earlier this week. Founded by …
Elon Musk, CEO of Tesla, speaks with CNBC on May 16, 2023. David A. Grogan | CNBC Tesla released its third-quarter results after trading hours on Wednesday. Following the release, the stock initially rose by 2.4%, but later dropped by over 4% as CEO Elon Musk expressed caution regarding the profitability timeline of the Cybertruck …
A Winnebago Industries Inc. travel trailer stands at Motor Sportsland RV dealership in Salt Lake City, Utah, U.S., on Monday, April 6, 2020. George Frey | Bloomberg | Getty Images Winnebago ended its fiscal year on a high note by surpassing expectations with its fourth quarter earnings. The company’s adjusted per-share profit of $1.59 outperformed …
Apple iPhone supplier Foxconn, also known as Hon Hai, has revealed its semiconductor strategy, focusing on producing “specialty chips” instead of competing in cutting-edge chip technology. Chiang Shang-Yi, the chief strategy officer for semiconductor at Hon Hai, stated that the company does not chase after the most advanced technology, but rather focuses on specialty technology …
A woman crossing a busy downtown San Francisco street suffered serious injuries when a hit-and-run driver collided with her, throwing her into the path of an oncoming driverless Cruise car that ran her over. The incident was captured by the autonomous vehicle’s recording which Cruise shared with the NBC Bay Area Investigative Unit. Courtesy NBC …
Members of the United Auto Workers union picket outside the Michigan Assembly Plant in Wayne, Michigan, on Sept. 26, 2023. Matthew Hatcher | AFP | Getty Images DETROIT – Ford Motor is “at the limit” of what it can offer the United Auto Workers union in terms of economic concessions, an executive said Thursday as …