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☆ It's already hard to get your Fisker fixed. Bankruptcy could make it impossible.
▼ + stars: | 2024-04-27 | by ( Grace Kay | Nora Naughton | ) www.businessinsider.com time to read: +6 min

AdvertisementBusiness Insider spoke with seven Fisker Ocean owners who shared their anxieties about what will happen to their cars if Fisker is no more. AdvertisementSome Fisker owners said they are already struggling to get service and parts. Three Fisker ocean owners described instances where the vehicle was bricked for days after their 12-volt battery died. What Fisker's failure would mean for its competitorsIf Fisker files for bankruptcy, there are likely to be ripple effects for other EV startups, Fiorani said. "If Fiskers start falling off the side of the road in the next few months because there's no one to update them, that's going to put fear into a lot of electric vehicle owners — not just Fisker owners," Fiorani said.

Persons: —, Henrik Fisker teeters, Sam Fiorani, Kurt Mechling, Mechling, Fisker, Chris Salvo, Salvo, Henrik Fisker, Mario Anzuoni, Fiorani, Patrick Burrell, Tesla Organizations: Service, Business, AutoForecast Solutions, BI, Reuters, EV Locations: California

☆ 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

☆ Tesla could be volatile this week on earnings. Using options to mitigate the risk
▼ + stars: | 2024-04-22 | by ( Michael Khouw | ) www.cnbc.com time to read: +5 min

I am a big fan of Tesla products and the company, but we do not currently own the stock. Since hitting its all-time high on Nov. 4, Tesla shares are the worst-performing member of the "Magnificent Seven". With prices running from about $40,000 for a single-motor version to $70,000 for a tri-motor variant, the Cybertruck's specifications were remarkable. China represents the largest market for EVs at the moment, and BYD is leading Tesla there. Among U.S. manufacturers, Tesla, because it eschews the conventional dealer model, has excellent flexibility on pricing, which they adjust dynamically.

Persons: Tesla, FSD, Warren Buffett's, Berkshire Hathaway, Charlie Munger, Elon Musk, General Motors, — Organizations: Nvidia, Elon, EVs, Ford, Toyota, South, U.S, Ford Motor, General, Tesla Locations: U.S, China, Tesla, Europe

☆ What investors should know about the UAW's organizing drive of VW
▼ + stars: | 2024-04-22 | by ( Michael Wayland | ) www.cnbc.com time to read: +5 min

"We're going to carry this fight on to Mercedes and everywhere else," Fain told VW workers Friday night following the historic vote. Impact on labor costsTop of the list of likely impacts from organizing efforts at VW is labor costs. But for the Big Three Detroit automakers — and their shareholders — the VW organizing drive could be a positive. GM, Ford and Stellantis have higher all-in labor costs than non-organized automakers such as VW. Fain on Friday said "the real fight begins now," referring to the expected negotiations between the union and VW.

Persons: Elijah Nouvelage, Alex Hertel, Fernandez, It's, Shawn Fain, Kelcey Smith, Kevin Wurm, Fain, Let's, Joe Biden, Evelyn Hockstein, there's, – Organizations: Volkswagen, Getty, DETROIT, United Auto Workers, UAW, Detroit union's, U.S . Department of Labor, Columbia University, Union, National Labor Relations Board, NLRB, VW, General Motors, Ford Motor, Chrysler, Detroit automakers, BMW, Honda, Hyundai, Mazda, Benz, Nissan, Subaru, Toyota, Volvo, Washington Post, Workers, Mercedes, UBS, Big Three Detroit automakers —, GM, Ford, Chamber, U.S, Capitol, Reuters Locations: Chattanooga , Tennessee, U.S, Vance , Alabama, Chattanooga, Washington , U.S, Detroit

☆ 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

☆ UAW union vote at Volkswagen could have big implications for US auto industry and labor’s strength in South
▼ + stars: | 2024-04-19 | by ( Chris Isidore | ) edition.cnn.com time to read: +8 min

A whole lot of people who were anti-union in the past have switched.”The union vote at the Volkswagen plant will mean more than whether the 4,300 hourly workers in Chattanooga are members of the UAW or not. But he said he wants the better pay and benefits he sees workers at unionized auto plants are getting, in order to provide more for his family. Volkswagen staying neutralThe company said it is neutral in the election, only urging workers to vote however they want. That’s relatively rare in union representation elections, where management often lobbies workers to vote no at mandatory meetings, and sometimes takes action against union organizers. Bill Lee and five other Southern governors – from Alabama, Georgia, Mississippi, South Carolina and Texas – who have nonunion auto plants in their states.

Persons: Renee Berry, ”, they’re, Darrell Belcher, it’s, Berry, ” Berry, Kelcey Smith, ” Smith, “, Belcher, he’s, Mercedes –, Tesla, Wheaton, Bill Lee, –, Joe Biden, Corey Linn, Biden, He’s, ’ ” Berry Organizations: New, New York CNN, Volkswagen, United Auto Workers, UAW, unionize, ” UAW, GM, Ford, VW, “, Mercedes – BMW, Honda, Hyundai, Mazda, Nissan, Subaru, Toyota, Volvo, Cornell University’s Industrial, Labor Relations, Tennessee Republican Gov, Southern, ”, don’t Locations: New York, Chattanooga , Tennessee, Chattanooga, Tennessee, Michigan, Pennsylvania, Mexico, Germany, United States, Tuscaloosa , Alabama, Alabama , Georgia , Mississippi, South Carolina, Texas

☆ Loads of analysts cut their price targets on these 10 stocks ahead of earnings
▼ + stars: | 2024-04-18 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Analysts have lowered their expectations on several global stocks this week by cutting their price targets. The list of stocks includes auto stocks Tesla , Rivian and Aptiv , pharmaceutical firms Biogen and Novartis , energy companies EQT Corp and TotalEnergies , airline Deutsche Lufthansa and aerospace firm Boeing , and fast food giant McDonald's . The price target changes come ahead of the next earnings season covering the first quarter of this year. CNBC Pro screened for global stocks in the MSCI World index that have received price target downgrades over the past seven days and are yet to report earnings. Tesla Wall Street analysts from 15 firms downgraded their 12-month price targets for Tesla over the past week.

Persons: Elon Musk, Tesla's, Tesla, Stifel Nicholas, Johannes Braun, Marc Zeck, Samantha Subin, Michael Bloom Organizations: Novartis, EQT Corp, Deutsche Lufthansa, Boeing, CNBC Pro, Barclays, Lufthansa Locations: Stifel

☆ Beware of these stocks at risk of a major earnings 'blowup'
▼ + stars: | 2024-04-17 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

First-quarter earnings season is just getting started, but investors may want to keep a close eye on a group of stocks at risk of a profit "blowup," according to Wolfe Research. The basket includes stocks that show up most often in the firm's short screens and filters companies based on earnings quality with 0 the worst and 100 the best. Tesla scores a 2 on Wolfe Research's earnings quality scale, showing up six times on the firm's short screens. Wolfe Research named Pinterest as another short idea, saying it was on four of the firm's short screens. Both stocks appear on four of the firm's short screens and have earnings quality scores in the 20s.

Persons: Morgan Stanley, Wolfe, Tesla, J.M Smucker Organizations: Wolfe Research, Bank of America, Elon, Rivian Automotive, Walgreens Boots Alliance, Juniper Networks, L3Harris Technologies Locations: China, Irvine , California

☆ Tesla's US market share grows through the EV carnage
▼ + stars: | 2024-04-17 | by ( Alistair Barr | ) www.businessinsider.com time to read: +2 min

Tesla's US electric vehicle market share has grown to 51.3%, despite numerous challenges. Tesla's US market share actually grew in the first quarter. Related storySince the end of September, Tesla's share of the US EV market has grown by 1.3 percentage points to 51.3%. The next closest rival is Ford, with a meager 7.4% market share. These stats say more about the general sorry state of the US EV market.

Persons: Elon, —, Tesla, Elon Musk, Cox Automotive's Kelley, Tesla's, That's Organizations: Service, Cox, US, Hyundai, VW, BMW, Ford, Rivian Locations: Polestar, China

☆ Rivian lays off more workers
▼ + stars: | 2024-04-17 | by ( Grace Kay | ) www.businessinsider.com time to read: +1 min

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Over a dozen workers began posting on LinkedIn about cuts at the company on Wednesday afternoon. "We continue to work to right-size the business and ensure lignment to our priorities," they told Business Insider. This story is available exclusively to Business Insider subscribers.

Persons: Rivian, — Organizations: LinkedIn, Service, Business

The firm initiated coverage on the stock with a buy rating and $60 price target, implying 37.2% upside from where shares closed on Monday. Analyst Mark Lipacis has a target price of $1,160 on shares, suggesting around 35% upside from where shares closed on Monday. However, it kept its $9 price target, which implies upside of just 7.7% over the next 12 months. The stock price now better considers some of our midterm concerns," worte analyst Joseph Spak. Analyst Frank Lee also raised his price target to $225 from $180, implying shares rallying nearly 38% from Monday's close.

Persons: Rivian, Goldman, DraftKings, Goldman Sachs, Ben Miller, Miller, — Hakyung Kim, Joe Ritchie, Ritchie, Nvidia isn't, it's, Mark Lipacis, Lipacis, Hakyung Kim, hasn't, Nicole DeBlase, DeBlase, Joseph Spak, we'd, Fred Imbert, Frank Lee, Lee, Nvidia's GB200 Organizations: CNBC, UBS, HSBC, AMD, US Online Gaming, GE, GE Vernova, General Electric, Nvidia, ISI, Honeywell, Deutsche Bank, Deutsche, Rivian Automotive Locations: NVDA, Monday's

☆ Here are Tuesday's biggest analyst calls: Apple, Tesla, Nvidia, Kroger, GM, Super Micro Computer, Rivian, Reddit & more
▼ + stars: | 2024-04-16 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

"We downgrade HON to Hold as we only see 10% upside to our new, lower $215 price target." Goldman Sachs initiates GE Vernova as buy Goldman said it's bullish on the company's electrification opportunity. " Goldman Sachs initiates DraftKings as buy Goldman said the sports betting company is a "revenue compounder." "We initiate coverage on Genius Sports Ltd. (GENI) with a Buy rating and a 12-month price target of $7.50 (40% upside)." Argus upgrades Goldman Sachs to buy from neutral Argus upgraded Goldman Sachs following its earnings report on Monday.

Persons: Evercore, Reddit, JPMorgan, Tesla, Goldman Sachs, Goldman, it's bullish, Wells, Needham, Morgan Stanley, it's, AUNA, William Blair, Cantor Fitzgerald, Klaviyo, Cantor, SYNNEX, Baird, Guggenheim Organizations: Evercore, Nvidia, UBS, Deutsche Bank downgrades Honeywell, Deutsche, Bank of America, of America, JPMorgan, Citi, Coty Citi, COTY, GE Vernova, Genius Sports Ltd, HSBC, Devices, AMD, KR, Apple, Barclays, Tyson, TSN, Emerging Athletic Brands, Crown Holdings, Argus, Goldman, Netflix, Guggenheim, NASDAQ, Deutsche Bank, General Motors, GM

☆ GMC says its electric Sierra pickup will top Tesla's Cybertruck range by 100 miles
▼ + stars: | 2024-04-16 | by ( Camilo Fonseca | ) www.businessinsider.com time to read: +2 min

GMC increased the range for its upcoming Sierra EV Denali Edition 1 to 440 miles. That's one of the best numbers among electric pickups, including the Tesla Cybertruck. GMC announced the final specs for its new Sierra EV Denali Edition 1, including a range of about 440 miles — a 10% increase from the initial 400-mile estimate. That's also 100 miles more than the Cybertruck, its most high-profile competitor, which has an advertised range of 340 miles for its beefiest version. AdvertisementDenali Edition 1 deliveries are expected to begin this summer, starting at $99,495, GMC said, followed by other trim levels like the Sierra EV Elevation and the Sierra EV AT4.

Persons: Tesla, —, That's, Elon Musk, What's Organizations: GMC, EV, Service, Sierra EV, Ford, Silverado EV, GM, Sierra EV AT4

☆ Why Hawaii is becoming a leader in U.S. EV adoption
▼ + stars: | 2024-04-13 | by ( Michael Wayland | ) www.cnbc.com time to read: +5 min

Alex Tai | SOPA Images | Lightrocket | Getty ImagesU.S. consumers have been making the move to all-electric vehicles more slowly than many expected — but a growing leader in EV adoption is Hawaii. Power's "EV Adoption Score," which is weighted based on market, consumer preference and EV availability, among other conditions, with a score of 33.8. Hawaii also is the top state for EV adoption that hasn't agreed to the California Air Resources Board's Zero-Emission Vehicle program, according to J.D. (For reference, the "Hawaii Belt" around the Big Island, or Hawaii Island, is only about 260 miles.) Power reports the top-selling EVs in the state are the Tesla Model Y, Tesla Model 3 and Ford F-150 Lightning.

Persons: Alex Tai, Elizabeth Krear, hasn't, Ivan Drury, Edmunds, Drury, –, I'm, Scott Sageman, Hawaii Aloha Kia Russell Wong, Wong, there's, That's Organizations: Tesla, Getty, EV, California Air Resources, Hawaii that's, AAA, Ford, Aloha Kia, Hawaii Aloha, Aloha, Kia, Gallup Locations: Honolulu , Hawaii, Hawaii, Power, California, Washington, J.D, ., Washington , Oregon, Colorado, Waikiki, U.S, Waipahu, EVs, Edmunds

☆ Some Tesla employees worry that layoffs are coming
▼ + stars: | 2024-04-13 | by ( Grace Kay | ) www.businessinsider.com time to read: +2 min

Tesla employees fear potential layoffs may begin as early as this weekend. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementSome Tesla employees are concerned that layoffs are imminent, possibly as soon as this weekend. This is the second time in a matter of months that anxiety over possible layoffs has set in at Tesla. The reviews were later rescheduled, three sources told Business Insider.

Persons: Tesla, —, Austin gigafactory, they'd, hadn't, There've, Tesla's Organizations: Service, Austin, Fremont, Business, Bloomberg, Business Insider . Workers, Big Tech, Google, Microsoft, EV Locations: Tesla

☆ These are the 11 startups most likely to IPO this year, according to analysts.
▼ + stars: | 2024-04-11 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +1 min

Rising interest rates and limited VC funding have slowed IPOs in the tech sector. With Instacart, Arm, and Klaviyo going public, the IPO market could be reviving this year. BI profiled 11 startups that are expected to IPO, according to PitchBook's Exit Predictor. Initial public offerings (IPOs) have slumped since the record-breaking 2021, when the the likes of likes of Roblox, UiPath, and Rivian listed. The market hasn't been helped by rising interest rates and a slump in venture capital funding, which has slowed down activity in late-stage startups.

Persons: —, It's Organizations: Service, Business

☆ What’s wrong with Tesla?
▼ + stars: | 2024-04-07 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +7 min

EV sales growth has been slowing for a while but in the last two quarters, EV sales didn’t increase much at all, according to estimates from Cox Automotive. “Looking at the data, the big [EV] slowdown is shaping up to be a Tesla slowdown,” said Valdez Streaty. Last year, Tesla sales were up 38% compared to 2022, but investors had expected more. While that’s much less than the roughly 80% of EV sales Tesla accounted for in 2019, according to Edmunds.com, it’s still a majority. But, if you leave out Tesla, sales of other electric vehicles, as a group, were up 33%.

Persons: Tesla, Elon Musk, Stephanie Valdez Streaty, Ford, ”, Valdez, It’s, Teslas, it’s, ” Valdez Streaty, Musk, tirades, Søren Holm, ” Tesla, ” Holm, Holm, “, Chris Isidore Organizations: CNN, Cox Automotive, Audi, BMW, Mercedes, EV, Tesla, Ford, Hyundai, Twitter, Reuters, Caliber, Covid Locations: United States, Edmunds.com, Teslas, Denmark

☆ How car buyers thinking hybrid over EV should make the decision
▼ + stars: | 2024-04-07 | by ( Cheryl Winokur Munk | ) www.cnbc.com time to read: +8 min

And what would the upfront costs be to upgrade your system to allow for faster charging, if desired? Do the math on upfront cost, EV vs. hybridIf it's still a toss up between an EV and a hybrid, next consider upfront costs. By contrast, the average starting price for a hybrid car is $33,214, according to iSeeCars.com, a car search engine. Search for available auto rebates and incentivesIf you're leaning toward an EV, but still find the upfront cost daunting, look for possible rebates. He points to a study by Argonne National Lab that shows scheduled maintenance costs per mile are significantly lower for an EV versus a traditional hybrid or plug-in hybrid.

Persons: you've, Aston Martin, Sandeep Rao, there's, Rao, Steve Christensen, Maxwell Woody, Woody, Albert Gore, ZETA Organizations: Ford, General Motors, Mercedes, Benz, Volkswagen, Jaguar, Rover, Gallup, New York, EV, Chevrolet, Department of Energy, Battery Coalition, Progressive Casualty Insurance Company, of Michigan, University of Michigan, Argonne National Lab, Honda Locations: U.S, California, Florida, Texas

☆ UAW reaches milestone in filing for a union vote at second nonunion auto plant
▼ + stars: | 2024-04-05 | by ( Chris Isidore | ) edition.cnn.com time to read: +4 min

But while that VW plant has had two votes before this, the Mercedes plant has never reached the threshold of union support that resulted in an election being held. An election at the Mercedes plant has yet to be confirmed by the National Labor Relations Board, which oversees such votes, let alone scheduled. While the UAW has filed for a vote at Mercedes’ Alabama plant, it has yet to file for a vote at its plant in Charleston, South Carolina. A high-profile union organizing vote at an Amazon warehouse in nearby Bessemer, Alabama was defeated in a close vote in 2021. And management of the non-union automakers is likely to fight union organizing efforts.

Persons: Mercedes, ” Organizations: New, New York CNN, United Auto Workers, UAW, Volkswagen, VW, National Labor Relations Board, Benz, International, General Motors, Ford, Mercedes, BMW, Honda, Hyundai, Mazda, Nissan, Subaru, Toyota, Volvo, GM Locations: New York, Alabama, Chattanooga , Tennessee, VW Chattanooga, Vance , Alabama, Tuscaloosa, Mexico, Edmunds, Tennessee, Mercedes ’ Alabama, Charleston , South Carolina, Bessemer , Alabama

☆ The accountant shortage is so bad that it's delaying key reports at companies like Tupperware
▼ + stars: | 2024-04-01 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +4 min

Read previewThe accountant shortage is so bad that companies are delaying filing key mandatory reports. On Friday, Tupperware said it didn't have enough accountants to get its annual report out on time. The storage container manufacturer is the latest on a growing list of companies that have delayed their annual reports for a host of reasons. About 70 companies have postponed annual reports this year, up 40% from last year, research company Intelligize tallied last month. Tupperware added that previous delays in filing its 2022 annual report led to postponement of its quarterly reports, which subsequently pushed back work on its 2023 annual report.

Persons: —, Tupperware, Intelligize, Steven Kachelmeier, Fitness Organizations: Service, Business, LinkedIn, PricewaterhouseCoopers, American Institute of Certified Public Accountants, US Bureau of Labor Statistics, Accountants, University of Texas, Mattel, Securities, Exchanges Locations: Orlando, Poland, American

☆ Electric vehicles are changing how America goes camping
▼ + stars: | 2024-03-31 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +8 min

While still a small minority, campers are more likely to own an electric vehicle than those who don’t go camping, according to a survey by Kampgrounds of America, the nation’s largest campground operator. Only about 1% of Americans currently have an electric vehicle, according to KOA, but about 4% of regular campers do. “We’ve had customers cross coasts, all the way up to Canada, all the way across Canada and back down, all with an electric vehicle,” said Bowlus CEO Geneva Long. Courtesy RivianThe physical layout of most EV chargers can be a challenge for campers. The vast majority of EV chargers are placed at the ends of parking spaces so vehicles have to either pull in, nosing the front bumper up to the charger, or reverse back in.

Persons: I’m, ”, Matt Linn, Linn, Mike Kowal, McKay Featherstone, They’ve, Bowlus, “ We’ve, Geneva, It’s, Toby O’Rourke, KOA, O’Rourke, it’s, Rivian, Sara Eslinger, ” Linn, Rivian’s Elsinger Organizations: CNN, Ford, Rockwood, Thor Industries, Designers, Airstream, KOA, don’t, EV Locations: America, Texas, Central Coast , California, Canada, Yosemite, Big Sur , California, who’s

☆ Detroit went all-in on big, expensive EVs nobody wants. Here's what the data shows they'd rather buy.
▼ + stars: | 2024-03-31 | by ( Nora Naughton | ) www.businessinsider.com time to read: +5 min

Read previewWhen the automotive industry started looking toward an electrified future, Detroit automakers decided to throw their hat in the ring with what they do best: Pickup trucks. Electric pickup truck pioneer Rivian has also warned of slowing growth, and Elon Musk's Tesla already appears to be offering some purchase incentives for the Cybertruck. Only four EVs sell in that range at the moment, according to Edmunds, and none of them are sold by Detroit automakers. On average, EVs sold for around $61,700 last year, $14,250 more expensive than the typical price paid for non-electric vehicles, Edmunds said. AdvertisementGM is taking another approach, pulling back on EV production as the company plans to bring more hybrids (a segment that has seen demand increase while EV demand wanes) to the North American market later this year.

Persons: —, Ford, Rivian, Elon Musk's Tesla, Edmunds, Jessica Caldwell, EVs, BCG, Jim Farley Organizations: Service, Detroit, Ford, Business, GMC, EV, Associated Press, Edmunds, Detroit automakers, Leaf, Fiat 500e, Hyundai Kona Electric, Boston Consulting Group, Bloomberg, North Locations: Detroit, Edmunds

☆ You can buy this electric luxury SUV for $25,000 right now. But there might be a catch
▼ + stars: | 2024-03-27 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +3 min

CNN —For sale: A brand new luxury electric SUV for the holy-grail price of $25,000. The California-based electric SUV company Fisker faces a real possibility of bankruptcy, and its stock is hovering just over 2 cents a share, far below its 2021 peak of $28.50. Prices for Fisker’s Ocean SUV have been cut by as much 39%. His video was titled, “This is the Worst Car I’ve Ever Reviewed.”“Do not buy this version of the Fisker Ocean,” reads the video’s description. Fisker has said that problems with early versions of the vehicles’ software caused some of the negative responses.

Persons: hasn’t, Marques Brownlee, ”, Fisker, Henrik Fisker Organizations: CNN, American YouTube, Consumer, Magna Steyr, Magna Locations: California, American, Danish, United States, Europe, Austria

The companies announced an initial $1.25 billion investment in September, and said at the time that Amazon would invest up to $4 billion. The deal was struck at the AI startup's last valuation, which was $18.4 billion, according to a source. Over the past year, Anthropic closed five different funding deals worth about $7.3 billion — and with the new Amazon investment, the total exceeds $10 billion. News of the Amazon investment comes weeks after Anthropic debuted Claude 3, its newest suite of AI models that it says are its fastest and most powerful yet. But multimodality, and increasingly complex AI models, also lead to more potential risks.

Persons: Claude, Anthropic, OpenAI's, what's, Swami Sivasubramanian, OpenAI's ChatGPT, OpenAI, Microsoft's OpenAI, Anthropic's Claude, Daniela Amodei, We've, Tesla, Brendan Burke, Bill Gurley, Gurley, Microsoft's, Lina Khan Organizations: Amazon, Google, CNBC, Fortune, Nvidia, Microsoft, Apple, U.S . Federal Trade Commission Locations: San Francisco, Anthropic, OpenAI

☆ Stocks making the biggest moves before the bell: Boeing, Masimo, Cleveland-Cliffs, Baidu, Disney and more
▼ + stars: | 2024-03-25 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Masimo — Shares soared nearly 12% following the medical technology company's announcement late Friday it is considering a spinoff of its consumer business. In addition, Wells Fargo upgraded the stock Monday, citing the potential separation of the businesses. Baidu — Shares of the technology company climbed 1.4% following news that Baidu is reportedly engaged in talks with Apple for a potential collaboration on artificial intelligence services in China. Disney — Shares rose 1.2% after Barclays upgraded the media company to overweight from equal weight, saying Disney has further upside even after its outperformance this year. Foot Locker — The shoe retailer rose 2.9% after Evercore ISI upgraded the stock to outperform from in line.

Persons: Dave Calhoun, Larry Kellner, Masimo, Quentin Koffey, Wells, Baidu, Nelson Peltz, Locker, Tesla, Raymond James, Jesse Pound, Tanaya Macheel, Michelle Fox, Brian Evans, Sarah Min Organizations: Boeing —, Street Journal, Politan Capital Management, Department of Energy, Chipmakers, Intel, Financial Times, Nvidia, Baidu —, Apple, Disney, Barclays, Blackwells, ISI, Mizuho Securities, Scotts Miracle, Gro Locations: Wells Fargo, Cleveland, Ohio, Pennsylvania, China, U.S, Europe

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