Ford to restructure supply chain after $1 billion in unexpected costs

Ford CEO Jim Farley at the company’s Dearborn, Michigan, plant where it’s building the electric F-150 Lightning on April 26, 2022. CNBC | Michael Wayland DETROIT – Ford Motor on Thursday announced plans to restructure its global supply chain, days after the company said it expects to book an extra $1 billion in unexpected supplier … Read more

Xpeng breaks out of a lower price range with its more expensive car G9

Xpeng has announced its most expensive car to date. Pictured here at a store in Shanghai, China, on July 2021 are two of Xpeng’s previously released models, a P7 Wing Limited Edition in green and a G3 SUV in blue. Qilai Shen | Bloomberg | Getty Images BEIJING — Chinese electric car start-up Xpeng has … Read more

Buyers are paying ‘well above sticker’

Forget getting a deal; these days, anyone in the market for a new car could pay thousands over the sticker price before they drive off the lot. Limited inventory due to a persistent shortage of computer chips, along with other supply-chain challenges, helped propel new car prices up 10% from a year ago, according to … Read more

Chinese EV maker Xpeng launches rival to Tesla’s Full Self Driving system

Xpeng launched a feature that allows its cars to semi-autonomously navigate urban environments, marking its latest challenge to U.S. electric vehicle giant Tesla. The Chinese start-up announced Monday that it was piloting a feature known as City NGP, which stands for navigation guided pilot. Xpeng claims that City NGP will allow the vehicle to perform a … Read more

Volkswagen targets $70.1 billion to $75.1 billion valuation in planned Porsche IPO

The name of the car manufacturer Porsche is attached to the curved facade of the newly built Porsche Centre in Magdeburg. Stephan Schulz | picture alliance via Getty Images Volkswagen is targeting a valuation of 70 billion to 75 billion euros ($70.1 billion to 75.1 billion) for luxury sportscar maker Porsche as part of a … Read more

Tesla Lost This Crown to Apple. It’s Probably Happy to See It Go.

Text size Tesla was once a heavily shorted stock, with a lot of bears betting on stock price declines. That’s changed recently. Patrick T. Fallon/AFP via Getty Images The market just learned something surprising about Tesla and Apple, two mega-capitalization companies: Data from short-selling analytics firm S3 Partners revealed that the value of Apple (ticker: … Read more

Nio says Nvidia chip restrictions won’t hurt them

Chinese electric car company Nio said it doesn’t expect U.S. restrictions on Nvidia to affect the start-up’s business operations. Vcg | Visual China Group | Getty Images Li said Wednesday there are many companies in China with artificial intelligence training chips, and that Nio is evaluating opportunities to work with different companies. But he said … Read more

As Elon Musk backs fossil fuels, one strategist sends warning over EV sales

The uptake of electric vehicles has increased in recent years, as countries around the world attempt to reduce the environmental effects of transportation. Simonskafar | E+ | Getty Images Recent comments from Elon Musk about the need for more oil and gas reflect a broader concern that the uptake of electric vehicles will be hampered … Read more

Tesla can surge 30% on Inflation Reduction Act, Wolfe Research says in upgrade to buy

It’s time for investors to buy Tesla as the Inflation Reduction Act will have a significant impact on the electric vehicle industry, according to Wolfe Research. Analyst Rod Lache upgraded shares of Tesla to outperform from peer perform, saying the electric vehicle maker and its customers may net close to $11 billion in U.S. government … Read more