Tesla’s value drops $60bn after investors fail to hail self-driving ‘Cybercab’ | Automotive industry
Tesla shares fell 8% after the announcement of its long-awaited so-called robotaxis failed to excite investors, wiping about $60 billion from the company's value. The electric car maker's stock fell to $219.40 in early trading Friday after a Hollywood event in which CEO Elon Musk unveiled his much-touted self-driving car. Musk said the company would […]
First-half sales of new cars in UK pass 1m for first time since before Covid | Automotive industry
Car makers sold more than one million cars in the UK in the first half of this year for the first time since before the coronavirus pandemic, as the car industry gradually recovers from years of turmoil. The car industry is expected to sell around 2 million cars this year, the first time since 2019, […]
Stocks making the biggest moves midday: Rivian Automotive, FedEx, Whirlpool and more – CNBC
A look at companies making waves in midday trading: Rivian Automotive — Shares soared more than 20% after the electric vehicle startup announced it had secured a $5 billion investment from Volkswagen Group. Volkswagen’s initial investment is $1 billion in the form of convertible notes, with an additional $4 billion planned through 2026. Fellow EV […]
Vauxhall owner to sell cheap Chinese EVs in UK and mainland Europe | Automotive industry
Global automaker Stellantis has criticized President Joe Biden’s decision to impose a 100% tariff on Chinese-made EVs imported into the United States, saying it will sell cheap electric vehicles made by its Chinese partner Leap Motors to the UK. It is planned to be sold in Europe, including Europe. Stellantis, which owns brands such as […]
NASCAR AutoTrader EchoPark Automotive 400 best bets: Odds, picks for Texas
Commercial content. Over 21 years old. Action Network is the official betting partner of the New York Post, which edits this content. Following back-to-back short track races, the NASCAR Cup Series heads to the 1.5-mile quad oval this week for the AutoTrader Echo Park Automotive 400 at Texas Motor Speedway (3:30 p.m. ET, FS1) . […]
UK new car sales reach highest February figure in 20 years | Automotive industry
British new car sales soared to the highest in February in 20 years, boosted by businesses buying electric vehicles for their own fleets, despite a decline in private EV adoption. According to the Society of Motor Manufacturers and Traders (SMMT), the number of new car registrations last month rose 14% from the previous year to […]