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March 5, 2021

Autos

Tesla closes below $600 for the first time since December — here’s what’s weighing the stock down

CNBC
CNBC – For more and to sign up click here Tesla Motors CEO Elon Musk unveils a new all-wheel-drive version of the Model S car in Hawthorne, California October 9, 2014. Lucy Nicholson | Reuters Shares in Tesla were down as much as 8% Friday morning. They’ve since recovered to......

Billionaire investor Ron Baron’s firm sold 1.8 million Tesla shares despite saying price will hit $2,000

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CNBC – For more and to sign up click here Billionaire investor Ron Baron sold 1.8 million shares of Tesla during the last six months for clients despite believing the stock will increase to $2,000 over the next 10 years. Baron, a longstanding Tesla shareholder, said Thursday morning on CNBC’s “Squawk......

UK new car sales slump in February amid COVID-19 hit

Reuters
FILE PHOTO: Parked cars are seen at the Vauxhall plant as the outbreak of the coronavirus disease (COVID-19) continues, in Ellesmere Port, Britain March 16, 2020. REUTERS/Phil Noble/File Photo LONDON (Reuters) – British new car registrations fell by roughly 36% year-on-year in February, according to preliminary data from an industry......

Taiwan chips will stay competitive despite rising challenge from China, Taiwan minister says

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CNBC – For more and to sign up click here Integrated circuits on a circuit board. filonmar | E+ | Getty Images Taiwan hopes to give China a run for its money — at least in the short run. The island’s minister of economy told CNBC that Taiwan will remain......

Fiat Chrysler spent over $300 million on green credits in Europe last year — mostly from Tesla

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CNBC – For more and to sign up click here A Tesla car in London. SOPA Images | LightRocket | Getty Images Fiat Chrysler said Wednesday on an earnings call that it spent EUR 300 million (US $362 million) on regulatory credits last year in Europe alone — most of......

Ride-sharing stocks a rare bright spot in otherwise miserable day for tech

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CNBC – For more and to sign up click here A sign marks a rendezvous location for Lyft and Uber users at San Diego State University in San Diego, California, May 13, 2020. Mike Blake | Reuters Ride-sharing stocks closed Wednesday as a rare bright spot for tech stocks in......

Aston Martin launches first F1 car in over 60 years

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CNBC – For more and to sign up click here LONDON — British luxury carmaker Aston Martin on Wednesday launched a new Formula One car ahead of its return to the most famous motor racing event in the world. The Aston Martin Cognizant F1 team revealed the “AMR21” car at......

Detroit expands Covid vaccine eligibility to autoworkers

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CNBC – For more and to sign up click here Chrysler Jefferson North Assembly Plant in Detroit, Michigan Bill Pugliano | Getty Images DETROIT — Manufacturing employees in the city, such as autoworkers, are now eligible to receive the Covid-19 vaccine without any restrictions such as age or proof of......

Tesla won’t be ‘king of the hill’ in electric vehicles forever, says ex-board member Steve Westly

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CNBC – For more and to sign up click here Steve Westly, a longtime Tesla bull and former board member, told CNBC on Tuesday that competition in the electric-vehicle sector has heated up and put significant pressure on the Elon Musk-led company. “I’ve been bullish on Tesla for the last......

Chinese Tesla rival Nio says global chip shortage will hit its electric car production

CNBC
CNBC – For more and to sign up click here A Nio Inc. ES6 electric SUV at a battery swap station inside a parking lot in Shanghai on March 1, 2021. Qilai Shen | Bloomberg | Getty Images BEIJING — Chinese electric car start-up Nio said Tuesday a global chip......

Warren Buffett owns more of a Chinese electric car company than General Motors

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CNBC – For more and to sign up click here Chinese battery and electric vehicle maker BYD shows off a model of its Han EV series at the 2020 Beijing auto show. Evelyn Cheng | CNBC BEIJING — Warren Buffett‘s Berkshire Hathaway conglomerate has a larger stake in Chinese electric......

‘This bond market is so radically oversold,’ economist David Rosenberg says

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CNBC – For more and to sign up click here Economist David Rosenberg says he made a career by not following the herd, and his bond forecast could be considered the latest example. According to the Rosenberg Research president, this year’s rate yield shock surrounding the benchmark 10-year Treasury Note......

Nikola admits ousted chairman misled investors as legal costs mount

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CNBC – For more and to sign up click here CEO and founder of U.S. Nikola, Trevor Milton speaks during presentation of its new full-electric and hydrogen fuel-cell battery trucks in partnership with CNH Industrial, at an event in Turin, Italy December 2, 2019. Massimo Pinca | Reuters Embattled electric......

Chinese electric car start-up Li Auto expects it will sell fewer cars than Nio has been delivering

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CNBC – For more and to sign up click here A Li Xiang One hybrid SUV is on display during the 18th Guangzhou International Automobile Exhibition on November 23, 2020 in Guangzhou, China. Li Zhihao | Visual China Group | Getty Images BEIJING — Nasdaq-listed Chinese automaker Li Auto forecast......

General Motors says worst of global chip shortage may be behind it

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CNBC – For more and to sign up click here General Motors employees work on the assembly line Friday, April 26, 2019 at Fairfax Assembly & Stamping Plant in Kansas City, Kansas. The Fairfax facility produces the Cadillac XT4 and Chevrolet Malibu. Jim Barcus for GM General Motors executives believe......

Shares of SPAC for electric car company Lucid plummet another 20% after merger announcement

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CNBC – For more and to sign up click here Exterior of the Lucid Air sedan, which debuted Sept. 9, 2020 as the company’s first production vehicle. Lucid Shares of Churchill Capital IV continued to plummet for a second consecutive day Wednesday after announcing a deal Monday night to bring......

Charlie Munger doesn’t know what’s worse: Tesla at $1 trillion or bitcoin at $50,000

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CNBC – For more and to sign up click here Charles Munger, vice chairman of Berkshire Hathaway Inc. Jonathan Alcorn | Bloomberg | Getty Images Charlie Munger, vice chairman of Berkshire Hathaway and Warren Buffett’s longtime business partner, on Wednesday dismissed the rocketing share price of Tesla and the recent......

Billionaire investor Rakesh Jhunjhunwala reveals how he’s playing India’s electric vehicle market

CNBC
CNBC – For more and to sign up click here Indian billionaire investor Rakesh Jhunjhunwala is betting on automaker Tata Motors as one of the winners of India’s growing electric vehicle market. “I think the biggest and the best player in electric cars in India is going to be Tata......

Kia unveils 2022 Carnival as new SUV-inspired minivan with VIP lounge seating

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CNBC – For more and to sign up click here Kia Motors is replacing its Sedona minivan with a new SUV-inspired model called the Carnival beginning in the second quarter of this year. The 2022 Carnival “multi-purpose vehicle,” also known as a minivan, features a boxy exterior, large front grille......

Workhorse Group drops nearly 50% after EV company is passed over for USPS contract

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CNBC – For more and to sign up click here Workhorse W-15 Electric Pickup Truck. Source: Workhorse Shares of Workhorse Group dropped more than 50% at one point on Tuesday after the company was passed over for a key contract from the U.S. Postal Service. Amid heightened volatility, the stock......

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