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☆ Honda to build $11 billion electric vehicle hub in Canada
▼ + stars: | 2024-04-25 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

A Brand new Honda Pilot is displayed on the sales lot at Honda Marin on February 06, 2024 in San Rafael, California. DEROIT – Honda Motor and yet-to-be-named joint venture partners plan to invest $11 billion in Ontario, Canada, to create a "comprehensive EV value chain," the Japanese automaker announced Thursday. Honda said vehicle production will begin in 2028, with annual vehicle capacity of 240,000 units once it's fully operational. Prime Minister of Canada Justin Trudeau said during a livestreamed press conference Thursday that Honda's investment, $15 billion Canadian, is the largest ever for the country's automotive industry. The investment is a major win for Canada and comes after Honda last year confirmed a $4.4 billion investment for a new U.S. battery plant in Ohio.

Persons: Honda Marin, DEROIT, Honda, Canada Justin Trudeau, Toshihiro Mibe Organizations: Honda, North, Canada, LG Energy Locations: San Rafael , California, Ontario, Canada, Alliston , Ontario, North America, U.S, Ohio

☆ Ford just reported a massive loss on every electric vehicle it sold
▼ + stars: | 2024-04-24 | by ( Chris Isidore | ) edition.cnn.com time to read: +4 min

But it is the only traditional automaker to break out results of its retail EV sales. And the results it reported Wednesday show another sign of the profit pressures on the EV business at Ford and other automakers. The EV unit, which Ford calls Model e, sold 10,000 vehicles in the quarter, down 20% from the number it sold a year earlier. Some are also sold in its Ford Pro unit, which handles fleet sales to businesses and government buyers. The number of vehicles sold by Ford Pro was up 21% to 409,000.

Persons: Ford, John Lawler, Jim Farley, Tesla Organizations: New, New York CNN, Ford, ”, Ford Pro, US Postal Service, General Motors, American EV, Jeep, Dodge, Chrysler, European EV Locations: New York, EBIT, North America

☆ GM earnings rise more than expected
▼ + stars: | 2024-04-23 | by ( Chris Isidore | ) edition.cnn.com time to read: +2 min

But GM said it expects its North American EV business to turn a profit in the second half of the year. That and strong demand for traditional gasoline-powered vehicles allowed it to raise its earnings forecast for the year. But the company announced a $10 billion share repurchase last fall following its labor deal with the United Auto Workers union. The fewer number of shares outstanding allowed it to report improved earnings per share, which is closely watched by investors. That resulted in adjusted earnings per share of $2.62, up 18.6%, easily topping forecasts that EPS would slip to $2.13.

Persons: Motors Organizations: New, New York CNN —, American, GM, EVs, United Auto Workers, Revenue, Fleet Locations: New York

☆ How the UAW’s win may change the South
▼ + stars: | 2024-04-23 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +7 min

Now, the United Auto Workers has dealt a serious blow to that model: winning a landslide union victory after decades of failing to unionize automakers in the South. It’s the UAW’s first win in trying to represent workers at a foreign car manufacturing plant in the South. Before Friday’s win, the highest profile union election held in the South in recent years was the attempt to organize Amazon warehouse workers in Alabama in 2022. Bill Lee in 2019 visited Volkswagen’s plant in Chattanooga to encourage workers to reject the union, and former South Carolina Gov. But the Volkswagen win, said UAW President Shawn Fain to CNN, shows that politics are not an insurmountable obstacle when it comes to organizing in the South.

Persons: Stephen Silvia, Southern, ” Silvia, – Tesla, Tesla, Henry McMaster, Kay Ivey, “, ”, Erica Smiley, Honda, Friday’s, you’ve, they’ve, Bill Lee, Nikki Haley, Biden —, Shawn Fain, “ Trump, ” Fain, “ I’m, George Walker IV, Harley Shaiken, Justice, CNN’s Chris Isidore Organizations: New, New York CNN, United Auto Workers, UAW, American University, Southern Gamble, Workers, Foreign, Volkswagen, Mercedes, BMW, Honda, Hyundai, Mazda, Nissan, Subaru, Toyota, Volvo, –, South Carolina Gov, Alabama Gov, “ Unions, Justice, Union, Auto, South Detroit, Benz, Kia, P Global Market Intelligence, Republicans, Environmental Defense Fund, Southern, “, GOP, Tennessee Gov, Democratic, CNN, Tennessee, AP, Chattanooga won’t, University of California, Jobs Locations: New York, United States, Volkswagen’s, Chattanooga , Tennessee, Tennessee, South Carolina, North Carolina, Louisiana, Texas, Mercedes, Vance , Alabama, Alabama, Smyrna , Tennessee, Spartanburg , South Carolina, Lincoln , Alabama, Southern, South, Chattanooga, Georgia, Berkeley

☆ Evangelical America Is More Divided Than You Think - The New York Times
▼ + stars: | 2024-04-21 | by ( David French | ) www.nytimes.com time to read: +1 min

I’m afraid that an exit poll question has confused America. But in other ways, this exit poll identity misleads us about the nature and character of American evangelicalism as a whole. It’s far more diverse and divided than the exit poll results imply. In reality, American evangelicalism is best understood as a combination of three religious traditions: fundamentalism, evangelicalism and Pentecostalism. These different traditions have different beliefs, different cultures and different effects on our nation.

Persons: they’re Organizations: Republicans, Democratic

☆ UAW says Volkswagen workers vote overwhelmingly to join union, giving it groundbreaking win
▼ + stars: | 2024-04-19 | by ( Chris Isidore | ) edition.cnn.com time to read: +4 min

If the union can win the right to represent workers across the broad swath of the nonunion auto plants, it could increase their leverage in future contract negotiations. Most of the nonunion auto plants are spread across the south. It is also seeking to represent workers at three American automakers making electric vehicles – Tesla, Rivian and Lucid. Many of the nonunion automakers, including Volkswagen, gave their workers similar raises in the wake of the UAW contracts. And the UAW has had little success winning the right to represent nonunion auto workers since then, until Friday’s vote.

Persons: ”, Kelcey Smith, Bill Lee Organizations: New, New York CNN, United Auto Workers, National Labor Relations Board, UAW, Volkswagen, – General Motors, Ford, BMW, Honda, Hyundai, Mazda, Nissan, Subaru, Toyota, Volvo, American, Mercedes, Tennessee Gov Locations: New York, Chattanooga , Tennessee, United States, Southern, Vance , Alabama, Tuscaloosa, Volkswagen’s Chattanooga, Alabama, Georgia , Mississippi, South Carolina, Texas, American, Pennsylvania

☆ While many flock to see the eclipse, these cultures are doing something different
▼ + stars: | 2024-04-05 | by ( Harmeet Kaur | ) edition.cnn.com time to read: +8 min

CNN —For many people, the upcoming total solar eclipse is a joyous and celebratory occasion. But in other cultures and faith traditions, an eclipse is less spectacle and more spiritual. Having drunk the nectar, Rahu becomes immortal while Ketu dies. Some Christians believe it signals the second coming of ChristPeople visit the Bald Knob Cross near Alto Pass, Illinois, on August 19, 2017 ahead of a total solar eclipse. The New Testament of the Bible contains several mentions of the sky darkening while Jesus was hung on the cross, which some believers associate with a solar eclipse.

Persons: Sanjay Kanojia, Sangeetha Kowsik, Kowsik, Vishnu, Mohini, Ketu, Rahu, Hanuman, ” Kowsik, Ganesha, Lord Hanuman, Fachrul Reza, NurPhoto, Akif Aydin, Muhammad’s, Ibrahim, Aydin, —, Prophet Muhammad, ”, Scott Olson, Jesus Christ, Jesus, Matthew, “, “ Eli, Eli, lema, Joel, Andrea L, Robinson, Brian van der, Evelyn Bahe, ” Bahe, Bahe, Institute’s Nancy C, Maryboy, David Begay, Kristin Fisher Organizations: CNN, Getty, New York University, Atlantic Institute SC, Christ People, Christianity, “, Los Angeles Times, Department of Diné, Sun, Institute’s Locations: Mexico, Canada, Prayagraj, Yamuna, AFP, South India, Lhokseumawe, Indonesia, South Carolina, Alto Pass , Illinois, American, America, it’s, Navajo, Rock , Arizona

☆ How Ford can challenge a powerful Chinese EV maker's potential entrance in the U.S.
▼ + stars: | 2024-02-27 | by ( Paulina Likos | ) www.cnbc.com time to read: +10 min

Forget Tesla , the real competition in electric vehicles is low-cost Chinese automakers. Farley wants to be prepared even if the U.S. government were to step in to curtail Chinese automakers' access. Outlook Ford investors shouldn't be concerned in the short term since Chinese EV competitors won't enter the market overnight. To that end, a group of lawmakers has urged the White House to boost tariffs on Chinese vehicles and figure out a way to be "prepared to address the coming wave" of Chinese vehicles by way of U.S. other trading partners. The cost of production will become more efficient, resulting in a more competitive and hopefully profitable Ford EV product.

Persons: Forget Tesla, Jim Farley, BYD, Ford, Farley, —, Warren, Berkshire Hathaway, Morgan Stanley, I've, Tom Narayan, Stellantis, Narayan, Tesla, Jim Cramer, Jim, It's, RBC's Narayan, Ford's Farley, Wolfe, Jeff Windau, Edward Jones, shouldn't, Biden, Windau, doesn't bode, Jim Cramer's, Charly Triballeau Organizations: Nikkei, Wolfe Research, Ford, RBC Capital Markets, U.S, EV, Detroit, General Motors, Chrysler, Ford Blue, Ford Pro, Ford Model, CNBC, ICE, Ferrari, North, Outlook, Bloomberg, Ford EV, American EV, AFP, Getty Locations: U.S, Mexico, China, Europe, Indonesia, Hungary, Thailand, Inwood , New York

Shanker also raised his price target to $80 from $75, suggesting nearly 34% downside from Friday's close. — Spencer Kimball 8:16 a.m.: Loop Capital upgrades Corteva, touts growth acceleration in 2025 Corteva's stronger-than-expected 2024 full-year guidance will jumpstart a period of strong growth, according to Loop Capital. The firm upgraded the agricultural chemicals company to buy from hold and increased its price target to $65 from $57. Analyst Jay Sole upgraded Urban to neutral from sell and upped his 12-month price target by $20 to $41. Kaufman's $183 price target indicates roughly 6.3% downside for shares, which have fallen more than 18% over the past year.

Persons: headwinds, Morgan Stanley downgrades XPO, Morgan Stanley, Ravi, Shanker, — Michelle Fox, Julien Dumoulin, Smith, Duke's, — Spencer Kimball, Chris Kapsch, Kapsch, Brian Evans, Cassie Chan, they'll, Chan, —, Jay Sole, URBN, Sole, Urban's, — Pia Singh, Filippo Falorni, Falorni, Hershey, Stanley, Pamela Kaufman, Kaufman's, Hershey's, Kaufman, Graham Doyle, Doyle, Piper Sandler, David Amsellem, Amsellem, Amsellam, Christopher Horvers, Jan, Horvers, Fred Imbert, Dan Levy, Levy Organizations: CNBC, Barclays, Automotive, JPMorgan, Corp, Bank of America, Bank of America downgrades Duke Energy, Duke Energy, Duke, Wall, America, UBS, Urban Outfitters, Free People, Urban, Citi, PepsiCo, Citi Research, Pepsi, Hershey, GE Healthcare Technologies, UBS GE Healthcare Technologies, Pharmaceutical, Teva Pharmaceutical, Federal, Barclays downgrades Rivian, Rivian Automotive, North American EV Locations: Bank of America downgrades, GEHC, David Amsellem U.S

☆ The relentless focus on White Christian nationalism is spreading a racist myth
▼ + stars: | 2024-02-03 | by ( John Blake | ) edition.cnn.com time to read: +15 min

That’s how critics have described White Christian nationalism, a deviant strain of religion that has infected the political mainstream. But there is another cost to the spread of White Christian nationalism that no one mentions. The relentless coverage of White Christian nationalism is spreading a racist myth: that Whiteness is the default setting for evangelical Christianity. In a February 2023 survey, nearly two-thirds of White evangelical Protestants qualified as sympathizers or adherents to Christian nationalism. However, he rejects the political beliefs associated with White Christian nationalism.

Persons: CNN — It’s, ”, Pastor Peter Lim, ” Lim, he’s, “ It’s, It’s, White, Carolyn Chen, Ella Sophie Bessette, you’re, “, Walter Kim, Tom Lin, William Barber II, Chen, Trump, John Minchillo, browning, — it’s, John C, Richards, Jr, Jim Crow, Mark Noll, ” Richards, “ I’m, John Onwuchekwa, Lyndon B, Johnson, Lady Bird Johnson, Hubert Humphrey, Edward Kennedy, Robert Kennedy, Onwuchekwa, ” Maria Antonetty, Tina Fineberg, don’t, Lim, William J, Barber, Oliver Contreras, We’re, John Blake Organizations: CNN, White, Christianity, of Atlanta, Berkeley Center, Republican, Princeton, Harvard, Stanford, UC Berkeley, Oral Roberts University, National Association of Evangelicals, InterVarsity, USA, Christian, MLK, Saint Mark Baptist Church, White Americans, Liberty, New, Southern Baptist Convention, Cornerstone Church, Primitive Christian, Washington Post, Asian Pacific American Religions Research Initiative Locations: America, White, American, Korean, Taiwanese, Asian, Africa, Silicon Valley, Taiwan, Korea, Mexico, Little Rock , Arkansas, Georgia, New York, New York City, Crete, Atlanta, Asia, Washington , DC

☆ Rivian CEO says EV market suffers from a lack of choice
▼ + stars: | 2024-01-26 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Rivian CEO RJ Scaringe on Friday discussed the electric vehicle market with CNBC's Jim Cramer, saying EV automakers need to give consumers a wider variety of models to choose from. "What I think we're witnessing today is a lack of choice," Scaringe said. Rivian is trying to broaden its offerings with a new line of R2 vehicles, which Scaringe will be smaller and less expensive than current Rivian models. Even Tesla , one of the few profitable EV companies, cut costs last year, reducing prices of new cars by 20%. But Scaringe said he's confident the world will eventually make a lasting shift to EVs, saying government policies will drive that change.

Persons: RJ Scaringe, CNBC's Jim Cramer, Scaringe, Rivian, Tesla, he's Organizations: EV, Biden Locations: U.S

☆ Oscar nominee Lily Gladstone signed up for a data analytics course before being cast in 'Killers of the Flower Moon'
▼ + stars: | 2024-01-23 | by ( Nicolas Vega | ) www.cnbc.com time to read: +2 min

Newly minted Oscar nominee Lily Gladstone almost quit acting before her star-making turn in "Killers of the Flower Moon". But her plans changed when she was offered the chance to star in "Killers of the Flower Moon" opposite Leonardo DiCaprio. The role not only revitalized Gladstone's acting career, it also made her the first Native American ever nominated for Best Actress. "Being known as an actress felt good even when I wasn't working, even before I got my SAG card," Gladstone told the New York Times earlier this month. Gladstone is next slated to appear alongside Riley Keough in the Hulu true crime drama "Under the Bridge."

Persons: Lily Gladstone, Martin, Kelly Reichardt's, Leonardo DiCaprio, Gladstone, Mollie, DiCaprio's Ernest Burkhart, It's, Riley Keough Organizations: Hollywood Reporter, Department of Agriculture, Osage, American, New York Times, Staples Locations: Hollywood

☆ Opinion | Trumpism Is Devouring the Evangelical Movement
▼ + stars: | 2024-01-12 | by ( Michelle Goldberg | ) www.nytimes.com time to read: +2 min

Such qualms grew more vocal after voter revulsion toward MAGA candidates cost Republicans their prophesied red wave in 2022. He had too much of an edge sometimes.” Perkins was clearly rooting for Ron DeSantis, who represented the shining hope of a post-Trump religious right. But there’s not going to be a post-Trump religious right — at least, not anytime soon. Evangelical leaders who started their alliance with Trump on a transactional basis, then grew giddy with their proximity to power, have now seen MAGA devour their movement whole. But this year, according to FiveThirtyEight’s polling average, Trump leads his nearest Republican rivals by more than 30 points.

Persons: Tim Alberta’s, Donald Trump, Robert Jeffress, First Baptist Dallas —, ”, Trump boosterism —, “, —, MAGA, Mike Evans, ” Tony Perkins, Trump, Perkins, ” Perkins, Ron DeSantis, there’s, George W, Bush, Mike Huckabee, Rick Santorum, Ted Cruz Organizations: Christian, First Baptist, Texas, The Washington Post, Trump, Family Research, Evangelical, Republican Locations: American, The, Alberta, Iowa

☆ The White House unveils new rules to try and keep China out of the US EV market
▼ + stars: | 2023-12-04 | by ( Tom Carter | ) www.businessinsider.com time to read: +3 min

It comes as the US aims to break China's stranglehold over the global electric battery supply chain. Key US automakers like Tesla and Ford are still using Chinese technology in their electric cars. AdvertisementChina is well and truly winning the EV race — and now the White House has unveiled new rules to try and keep Chinese companies out of the US electric car market. The new restrictions could be a headache for US auto manufacturers, which have traditionally relied on China for their battery technology . The American EV market, meanwhile, has stuttered in recent months , with legacy automakers slashing investment and cutting back targets.

Persons: —, Morgan Stanley, Elon Musk's Tesla Organizations: Ford, Service, White, American EV Locations: China, Russia, Iran, North Korea, Michigan

☆ How American Evangelicalism Became ‘Mister Rogers With a Blowtorch’
▼ + stars: | 2023-12-02 | by ( Jennifer Szalai | More About Jennifer Szalai | ) www.nytimes.com time to read: +1 min

THE KINGDOM, THE POWER, AND THE GLORY: American Evangelicals in an Age of Extremism, by Tim AlbertaWhat would Jesus do? It’s a question that the political journalist Tim Alberta takes seriously in his brave and absorbing new book, “The Kingdom, the Power, and the Glory,” pressing the evangelicals he meets to answer a version of it — even if a number of them clearly do not want to. This phenomenon, Alberta says, cannot simply be a matter of evangelicals mobilizing against abortion access and trying to save lives; after all, they have kept remarkably quiet when it comes to showing compassion for refugees or curbing gun violence, which is now, as Alberta notes, the leading cause of death for children in the United States. What he finds instead is that under the veneer of Christian modesty simmers an explosive rage, propelling Americans who piously declare their fealty to Jesus to act as though their highest calling is to own the libs. No wonder the popular image of evangelicalism, according to one disillusioned preacher, has devolved into “Mister Rogers with a blowtorch.”

Persons: Tim Alberta, “, thrall, Donald Trump, impenitent, Trump, Ted Cruz, Ted, piously, Jesus, Mister Rogers, ” Organizations: THE, Republican, Iowa Republican Locations: “ The, Alberta, United States

Now Widodo also needs a free trade agreement (FTA) with the United States for Indonesian materials to qualify for the generous EV subsidies available under the Biden administration's Inflation Reduction Act (IRA). What it got after last week's bilateral meeting was a commitment "to develop a critical minerals action plan (...) with a view toward establishing the foundation to launch future negotiations on a critical minerals agreement". The joint statement included some pointers as to what the United States expects from that action plan in terms of environmental, social and governance (ESG) standards. A limited trade agreement on critical minerals could become an even more restricted deal if it were to apply only to non-Chinese material streams. South Korea has the advantage of having had an FTA with the United States since 2012.

Persons: Joko Widodo, Tesla, Widodo, Washington, Biden, Joe Manchin, Janet Yellen, Manchin, Trafigura, Emelia Sithole Organizations: Vale Tbk, U.S, Biden, GREEN, Benchmark Minerals, Australia, Greenpeace, of, Group, Minerals, Korea, Reuters, Thomson Locations: Sorowako, Indonesia's, Asian, United States, Indonesia, United, GREEN Indonesia, Philippines, Ulsan, South Korea, Morocco, South

☆ Opinion: Travis Kelce is happy to be Mr. Taylor Swift
▼ + stars: | 2023-11-14 | by ( Cristian Arroyo-Santiago | Opinion Jill Filipovic | ) edition.cnn.com time to read: +10 min

CNN —Taylor Swift and Travis Kelce are the couple of the hour. Jill Filipovic Courtesy of Jill FilipovicThey’re also a surprisingly positive relationship model for men and women alike. Finding love isn’t always easy for American women in a more feminist world, even as American women have become far better off. Fewer than a quarter of single men say they have a hard time finding a romantic mate who meets their expectations. Swift and Kelce are both fabulously wealthy, and money does make relationships easier — she’s now a billionaire, according to Bloomberg.

Persons: Jill Filipovic, CNN — Taylor Swift, Travis Kelce, Jill Filipovic They’re, Swift, Jason, Taylor, Travis, Gloria Steinem, —, Wives, Kelce, Taylor Swift, ”, they’re, It’s, ’ —, she’s Organizations: Twitter, CNN, Kansas City Chiefs, Chiefs, Philadelphia Eagles, Pew Research, Census, Pew, Survey Center, American Enterprise Institute, Bloomberg, NFL, ESPN, Sports, ” Sports Locations: New York, Kelce

REUTERS/Kevin Lamarque/File Photo Acquire Licensing RightsWASHINGTON, Sept 22 (Reuters) - The 2024 presidential election promises to be like no other modern U.S. election. He will be 81 when the election is held in November 2024, making him the oldest American ever to win a presidential election should he secure a second term. Republican presidential candidates are split between those saying abortion laws should be left to the states and those supporting a national ban. Republican candidates, including Trump, have blamed Biden for reversing more restrictive Trump-era policies and have pledged to step up border security. Other Republican candidates, such as Pence and Haley, say the United States must continue to back Ukraine.

Persons: Joe Biden, Kevin Lamarque, Donald Trump, Democrat Joe Biden, Grover Cleveland, Biden, Trump, Ron DeSantis, Nikki Haley, Mike Pence, Chris Christie, Vivek Ramaswamy, DeSantis, Kamala Harris, Robert F, Kennedy Jr, Marianne Williamson, Roe, Wade, Pence, Haley, James Oliphant, Ted Hesson, Heather Timmons, Ross Colvin, Kieran Murray, Jonathan Oatis Organizations: Major Economies, White, REUTERS, Rights, Republican, Democrat, Trump, White House, Democratic, WHO, U.S, United, New, Biden, Supreme, Reuters, Thomson Locations: Energy, Washington , U.S, Florida, New Jersey, America, Iowa, New Hampshire, Nevada , South Carolina, Michigan, South Carolina, California, Texas, Milwaukee , Wisconsin, Chicago, U.S, Mexico, New York, China, Ukraine, Russia, United States, Midwest, Michigan , Pennsylvania, Wisconsin, . Arizona , Georgia, Nevada, North Carolina, Southern

☆ Southern Baptist Convention Leader Resigns Over False Résumé
▼ + stars: | 2023-08-17 | by ( Ruth Graham | More About Ruth Graham | ) www.nytimes.com time to read: +3 min

is the nation’s largest Protestant denomination and serves as a bellwether for priorities among American evangelicals. The executive committee, which has more than 80 members, conducts business for the denomination between its annual meetings. His ascension even as an interim leader was touted as a historic milestone for the 178-year-old denomination, which was founded as a defender of slavery. Mr. McLaurin is the committee’s third leader in a row to step down in tumultuous circumstances. At a meeting in Dallas this spring, the executive committee rejected its own search committee’s recommendation for the next leader, assembling a new search committee whose work is ongoing.

Persons: McLaurin, Ronnie Floyd, Frank Page, ”, “ It’s, Lord Jesus Christ, McLaurin’s, Robertson, committee’s Organizations: Southern Locations: Dallas, Nashville

☆ Indonesia plans incentives for EV makers, sets up meeting with BYD, Tesla
▼ + stars: | 2023-07-25 | by ( ) www.reuters.com time to read: +1 min

Indonesia, the largest economy in Southeast Asia, has been trying to attract EV makers to invest in the country, enticing them with its rich nickel reserves - the world's biggest - which can be processed into EV batteries. However, some automakers like China's BYD have instead chosen to invest in Thailand, the region's automotive hub. "Tomorrow we are going to finalise incentives that we are going to give to any EV investment in Indonesia," Luhut said, adding they were awaiting President Joko Widodo's approval. Indonesia has been wooing Tesla for years, hoping to host an Asian production hub for the American EV maker. Tesla has been in talks with Indian officials for an investment in an EV factory there.

Persons: Pandjaitan, Luhut, Joko Widodo's, Elon Musk, Tesla, Ananda Teresia, Gayatri Suroyo, Kanupriya Kapoor Organizations: CNBC Indonesia, Maritime Affairs, Natural, EV, Thomson Locations: JAKARTA, Indonesia, Thailand, Vietnam, Southeast Asia, China's, Chengdu, California, United States, American

The Bolt does not align with GM's long-term EV technology strategy, but it is the Detroit automaker's best-selling and most affordable EV in North America, by far. Barra and GM officials did not say how much the new Bolt would cost or where it would be built. For GM, the Bolt has been the mainstay for its North American EV sales. In the first six months of this year, U.S. Bolt sales totaled 33,659 vehicles, outselling Ford's Mustang Mach-E, Hyundai's Ioniq 5 and other EVs from established automakers. Bolt sales rebounded this year after GM was forced to halt production of the car for nearly six months to fix problems linked to battery fires.

Persons: Rebecca CooK, Mary Barra, Barra, Sam Fiorani, EVs, Sandy Munro, Elon Musk, Fiorani, Bolt, Paul Lienert, Joseph White, Nick Zieminski Organizations: North American, REUTERS, General Motors, Chevrolet Silverado EV, Chevrolet, Detroit, GMC Hummer EV, GM, AutoForecast Solutions, Barra, Bolt, Munro & Associates, UAW, Thomson Locations: Detroit , Michigan, U.S, North America, United States, Ohio, Michigan, Orion, Detroit

Rising inventories and price-cutting could represent only a short-term pause in EV market growth. If production of EVs continues to outpace demand, automakers will have to choose between slashing prices and profit margins, or slowing assembly lines. More than 90 new EV models are expected to hit the U.S. market through 2026, according to AutoForecast Solutions. In a statement, Volkswagen's U.S. sales arm said "we have seen some softening in EV sales in the U.S. recently" as supply chain bottlenecks have eased, allowing for increased production. Wakefield said it is too soon to declare that U.S. EV demand has hit a plateau.

Persons: Tesla, EVs, Cox, Ford, Vitaly Golomb, Biden, Price, Mark Wakefield, Wakefield, Joe White, Nick Zieminski Organizations: DETROIT, EV, North, AutoForecast Solutions, Dealers, General Motors, Ford, Hyundai, Toyota, Cox Automotive, U.S, Cox, GM, Cadillac, GMC, Volkswagen, U.S ., VW, Industry, EVs, Thomson Locations: U.S, North America, United States, Texas, Washington, Tennessee

☆ Tesla charging technology put on fast track to become US industry standard
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: +1 min

June 27 (Reuters) - Tesla's (TSLA.O) electric-vehicle charging technology is being put on a fast track to become a U.S. standard, the automotive industry group of engineers that reviews standards said on Tuesday. Tesla's NACS standard has been gathering momentum for weeks. General Motors (GM.N) and Ford (F.N) have said they would embrace Tesla's NACS, shunning earlier efforts by the Biden administration to make the Combined Charging System (CCS) the dominant charging standard in the United States. On Tuesday the Society of Automotive Engineers (SAE) said it would start an expedited process to review NACS as a potential public standard. "The new SAE NACS connector standard will be developed on an expedited timeframe and is one of several key initiatives to strengthen the North American EV charging infrastructure," the engineers group said in a statement.

Persons: Tesla's, Biden, Hyunjoo Jin, Peter Henderson, Matthew Lewis Organizations: General Motors, Ford, of Automotive Engineers, SAE, North, Thomson Locations: U.S, United States, San Francisco

☆ Opinion: Uganda anti-LGBTQ law is outrageous. Here’s the smart way to fight it
▼ + stars: | 2023-06-15 | by ( Opinion Brett Bruen | ) edition.cnn.com time to read: +9 min

But perhaps most importantly in this context, it actually serves to further erode LGBTQ rights around the world. Putin has used attacks on LGBTQ rights as a way to try to appeal to African leaders, suggesting Russia is more aligned with their conservative values. Slapping stiff sanctions on Kampala will reinforce this rhetoric and allow the anti-LGBTQ attacks he’s using to gain greater strength. Instead, we should look at how to prominently elevate and sustain the focus on LGBTQ rights in our relations with Uganda as well as with these other nations. We should invite more Ugandan musicians, artists and actors to collaborate with leading American LGBTQ cultural figures.

Persons: Brett Bruen, Obama, Yoweri Museveni, doles, Brett Bruen CASME, Biden, George Santos, ” Santos, Ugandans, Vladimir Putin, Xi Jinping, Putin, Sen, Ted Cruz, Saddam Hussein Organizations: Inc, Georgetown University, Obama White House, CNN, State Department, United Arab, Ugandans, Twitter, Facebook Locations: American, Ivory Coast, Venezuela, Iraq, Madagascar, Uganda, United States, Kampala, East, Russia, Zimbabwe, Africa, China, Washington, Moscow, Beijing, Russian, Saudi Arabia, United Arab Emirates, Brunei, Eritrea

☆ A Chinese EV billionaire's wealth has plummeted 75% to $1.4 billion as aggressive price wars push customers to higher-tier cars — like Tesla or BYD
▼ + stars: | 2023-05-30 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

The fortune of He Xiaopeng, CEO of Chinese EV maker Xpeng, has fallen 75% from a 2021 peak. He owns 20.5% of Xpeng shares, which tanked nearly 20% this year. Despite the wealth wipeout, He is still the 2,048th richest person in the world — although his net worth is now just a quarter of his $5.5 billion wealth in 2021, per Forbes. The Alibaba-backed company's first-quarter net loss also widened to 2.34 billion yuan from 1.7 billion yuan a year ago. The EV maker launched its first mass-produced model, the G3, in 2018.

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