In this article RIDE Workers install door hinges to the body shell of a prototype Endurance electric pickup truck on June 21, 2021 at Lordstown Motors’ assembly plant in Ohio. Michael Wayland / CNBC Embattled electric vehicle start-up Lordstown Motors said Wednesday it has closed a $230 million deal to sell its Ohio factory to
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7:00 PM ET Charles Leclerc and Carlos Sainz chat after locking out an all-Ferrari front row for the Miami Grand Prix. Hasan Bratic/picture alliance via Getty Images MIAMI – Lewis Hamilton said the late pit stop Mercedes offered him and he declined to take felt like an unnecessary risk as he once again bemoaned the timing
SAN FRANCISCO — A court said that Elon Musk‘s 2018 tweets that funding was secured to take Tesla Inc. private was inaccurate and reckless, saying “there was nothing concrete” about financing from Saudi Arabia’s sovereign wealth fund at that time. The decision by U.S. District Judge Edward Chen of San Francisco is a major victory
In this article GM RIVN F SAN ANTONIO — Ford Motor’s new F-150 Lightning is an electric pickup truck. That may seem obvious given it looks like a truck and has electric motors and a battery pack instead of an engine, but it needs to be said. Why? Because a successful battery-powered pickup is a
2:08 PM ET Associated Press INDIANAPOLIS — Sarah Fisher is getting a promotion for this month’s Indianapolis 500. Race organizers announced Tuesday they selected the IndyCar veteran and local fan favorite to be the celebrity pace car driver for the May 29 race. Fisher has been the regular pace-car driver for series events at Indianapolis
Shift Technologies said it cut positions last month equating to about 10 percent of its corporate team and is pausing its expansion into the Las Vegas market as the online used-vehicle retailer focuses on trimming costs and operating more efficiently. San Francisco-based Shift said Tuesday in a shareholder letter disclosing its first-quarter financial results that
In this article TSLA Employees work at the Tesla Gigafactory in Shanghai, east China, Nov. 20, 2020. U.S. electric car company Tesla in 2019 built its first Gigafactory outside the United States in the new Lingang area, with a designed annual production capacity of 500,000 units. Ding Ting | Xinhua News Agency | Getty Images
6:50 PM ET William E. Ricks When you think of Miami, sunny beaches, neon lights and thrilling nightlife experiences might come to mind, and rightfully so. This past week, however, South Beach was the epicenter of action-packed sporting events. The Miami Heat‘s journey toward a Larry O’Brien Trophy continued in the Eastern Conference semifinals against
WASHINGTON — Tesla Inc. is recalling nearly 130,000 electric vehicles in the U.S. because the infotainment central processing unit may overheat during fast-charging, causing the center display to lag or appear blank. The recall covers 2021-22 Model S and X vehicles and 2022 Model 3 and Model Y vehicles operating with certain firmware releases, according
In this article RIDE The Lordstown Motors Corp. Endurance electric pickup truck sits on stage during an unveiling event in Lordstown, Ohio, U.S., on Thursday, June 25, 2020. Matthew Hatcher | Bloomberg | Getty Images Struggling electric vehicle start-up Lordstown Motors said that it’s on track to begin production of its Endurance pickup in the
8:29 AM ET MIAMI — In the hours before the Miami Grand Prix, Formula One’s paddock was teeming with VIPs, sport stars and celebrities. Everywhere you looked, famous faces emerged from the crowd. Tom Brady crossed paths with Michael Jordan in the Mercedes garage. David Beckham greeted the Williams sisters outside Red Bull. Pharrell Williams
Online used-vehicle retailer Vroom Inc. said Monday that its COO, Tom Shortt, will join its board of directors and succeed Paul Hennessy as the company’s CEO. The change is effective immediately, as Hennessy has “stepped down to pursue other opportunities,” Vroom said. The company also released its first-quarter earnings on Monday, reporting ecommerce revenue of
In this article RIVN FSR NKLA LCID Rivian CEO RJ Scaringe inside the company’s customer experience center outside of its plant on Aptil 11, 2022 in Normal, Ill. Michael Wayland / CNBC Electric-vehicle maker Rivian Automotive will report its first-quarter earnings after market close on Wednesday. Wall Street analysts polled by Refinitiv expect a loss
8:00 PM ET Charles Leclerc and Carlos Sainz chat after locking out an all-Ferrari front row for the Miami Grand Prix. Dan Istitene – Formula 1/Formula 1 via Getty Images MIAMI — The championship battle between Ferrari and Red Bull continues to swing back and forth. Charles Leclerc‘s performance on Saturday at the Miami Grand Prix
SEOUL/DETROIT — Hyundai Motor Co.’s highly anticipated plans to build an EV assembly plant in the U.S. appear to be focused on Georgia. The Korean automaker has held discussions with officials in Georgia, near existing plants for the Hyundai and Kia brands, people with knowledge of its plans told Reuters. Hyundai COO Jose Muñoz told
In this article UBER Uber posted a $5.9 billion loss in the first quarter of 2022. Philip Pacheco | AFP via Getty Images Uber will cut back on spending and focus on becoming a leaner business to address a “seismic shift” in investor sentiment, CEO Dara Khosrowshahi told employees in an email obtained by CNBC.
5:47 PM ET Britain’s Jamie Chadwick won the season opener in Miami with fellow Brit Jessica Hawkins third, and Marta Garcia of Spain second. Mark Thompson/Getty Images Britain’s Jamie Chadwick made a perfect start to her bid for a third W Series title by winning the season-opening race of the all-female championship with a last lap
Stellantis challenged groups of college students to devise apps that use real-time vehicle data to “gamify” driving. The April “hackathon” in Detroit yielded numerous creations meant to encourage safer behavior behind the wheel and make commutes more engaging. The winning team was awarded $15,000 for an app that dishes out points for safe driving techniques,
In this article VOW3-DE Covering an area of 6.5 million square meters, VW’s huge manufacturing facility in Wolfsburg uses two cogeneration plants that provide it with heat and power. Krisztian Bocsi | Bloomberg | Getty Images The CEO of Volkswagen told CNBC Wednesday that the German automotive giant was keeping its options open in terms
11:41 AM ET MIAMI – J.J. and T.J. Watt could have picked any team to attend their first Formula One race with, but they never had eyes on anyone else at the Miami Grand Prix than American team Haas. J.J’s tweet last year about his new-found love for Formula One, spurred by Netflix’s blockbuster hit
Stellantis challenged groups of college students to devise apps that use real-time vehicle data to “gamify” driving. The April “hackathon” in Detroit yielded numerous creations meant to encourage safer behavior behind the wheel and make commutes more engaging. The winning team was awarded $15,000 for an app that dishes out points for safe driving techniques,
In this article F RIVN Production of electric Rivian R1T pickup trucks on April 11, 2022 at the company’s plant in Normal, Ill. Michael Wayland / CNBC Ford Motor is selling 8 million of its Rivian Automotive shares, with the insider lockup for the stock of the once high-flying electric vehicle maker is set to
9:50 PM ET Seven-times world champion Lewis Hamilton said he has no intention of removing his body piercing despite being given just a two-race exemption to resolve the issue. Hamilton said on Friday that he was prepared to be banned from racing in this weekend’s Miami Grand Prix after governing body the FIA issued a
For Basil Family Dealerships in western New York, selling big trucks and vans to commercial clients is big business. Basil is one of many retail groups across the country to make a successful business out of selling and outfitting light-duty trucks and cargo vans for electricians, plumbers, landscapers and other commercial clients. From dump trucks
In this article NKLA Nikola Motor Company Source: Nikola Motor Company Electric heavy-truck maker Nikola said Thursday it shipped its first semitrucks to customers in April, and that it now has purchase orders and letters of intent for over 500 of its battery-electric Tre trucks. The company is also working with clients including Anheuser-Busch Inbev
11:24 AM ET Lando Norris and Sergio Perez have criticised the track at the first Miami Grand Prix after several drivers struggled with the surface in the opening practice sessions. McLaren’s Norris took P6 after Friday’s second session but was far from happy with race conditions. “It is extremely tricky. It is very bumpy in
Tesla Inc. sued a former engineer claiming he illegally transferred confidential information on its supercomputer technology to his own computer and turned over a “dummy” laptop for inspection to cover up the theft. Tesla is developing an in-house supercomputer, dubbed Project Dojo, to deal with massive amounts of data, including video from Tesla cars, and
In this article 9866-HK Nio is planning to list its shares in Singapore. This would be the Chinese electric carmaker’s third listing location, following its IPO in New York and a secondary listing in Hong Kong. Costfoto | Future Publishing | Getty Images Chinese electric carmaker Nio said Friday that it’s planning a secondary share
6:40 PM ET Formula One’s commercial rights holders Liberty Media are buying a plot of land in Las Vegas for $240 million to locate the pit and paddock complex for a grand prix next year, they said on Friday. The floodlit race, to be held on a Saturday, will be the third U.S. round on
Wholesale used-vehicle prices ticked down again in April, marking three full months of slight cooldown after a long stretch of record elevation last year. Cox Automotive said Friday that its Manheim Used Vehicle Value Index, which tracks vehicles sold at Manheim’s U.S. auctions, fell 1 percent in April compared with March. Even though wholesale prices