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☆ Rivian, Lucid and other EV startups scramble to shore up cash and reassure Wall Street
▼ + stars: | 2024-05-10 | by ( Michael Wayland | ) www.cnbc.com time to read: +5 min

In this article NKLARIVNLCID Follow your favorite stocks CREATE FREE ACCOUNTR1T trucks on the assembly line at the Rivian electric vehicle plant in Normal on April 11, 2022. Stock Chart Icon Stock chart icon Performance of Rivian, Lucid and Nikola stocks over the past year. Rivian reported $7.86 billion in cash, cash equivalents, and short-term investments to end March, with more than $9 billion in total liquidity. Lucid, for its part, ended the first quarter with approximately $4.6 billion in cash, cash equivalents and investments, with total liquidity of approximately $5.03 billion. Unlike Rivian and Lucid, Nikola is exclusively focused on commercial vehicles rather than ones to retail customers.

Persons: Brian Cassella, Tesla, Itay Michaeli, Rivian, Rivian's, Peter Rawlinson, he's, Rawlinson, " Rawlinson, LSEG, Nikola, Thomas Okray, Okray, Derek Jenkins, David Swanson Organizations: Tribune, Service, Rivian, Lucid Group, Nikola Corp, Wall Street, Citi, Saudi, Public Investment Fund, Wall, Lucid, Los Angeles Auto Locations: Normal, Illinois, Georgia, Normal , Illinois, Los Angeles , California, U.S

☆ GM can regain market share in China after hitting 20-year low, executive says
▼ + stars: | 2024-05-09 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

Reuss also touted the competitiveness of GM's Chinese joint venture partners such as Wuling Motors. GM's market share in China, including its joint ventures, has plummeted from roughly 15% as recently as 2015 to 8.6% last year — the first time it has dropped below 9% since 2003. DETROIT – General Motors believes it can regain market share in China after hitting a roughly 20-year low last year amid changing market conditions and increased domestic competition, GM President Mark Reuss said Thursday. The market declines have spurred questions on whether GM would exit China, as it has other underperforming markets in recent years. The automaker said Steve Hill, currently GM's vice president of global commercial operations, would succeed GM China President Julian Blissett, effective June 1.

Persons: Mark Reuss, Reuss, " Reuss, Mary Barra, Steve Hill, Julian Blissett Organizations: Hamtramck Assembly, Wuling Motors, GM, Buick, DETROIT –, Motors, JV, Financial Times, Car, U.S . GM's, Chevrolet, China Locations: Detroit, Hamtramck, Michigan, China, DETROIT, U.S . GM's U.S

☆ U.S. automakers like GM are rapidly losing ground in China, once an engine for growth
▼ + stars: | 2024-05-06 | by ( Michael Wayland | ) www.cnbc.com time to read: +13 min

China was once a profit engine for GM, and its top sales market from 2010 to 2023. GM revealed several vehicles last week in China, including plug-in hybrid versions of its Buick GL8 minivan, a best-seller in China, and the Chevrolet Equinox crossover. "We think clearly that market has shifted and the landscape has shifted … with the capability of the Chinese [automakers]," Barra said. But it has had to aggressively cut prices to compete against Chinese automakers such ay BYD, Nio and others. Stellantis CEO Carlos Tavares earlier this year called Chinese automakers his company's "No.

Persons: Mary Barra, Jeff Kowalsky, we're, Barra, Paul Jacobson, GM wasn't, John Murphy, Michael Dunne, Dunne, Mark Fulthorpe, They'll, they've, Tesla, lockdowns, Elon Musk, Tingshu Wang, Reuters Tesla, Morgan Stanley, Adam Jonas, Musk, Junheng Li, Stellantis, Carlos Tavares, Zhu Jiangming, We've, We're, Ford, John Lawler, Lawler Organizations: General Motors Co, Bloomberg, Getty, General, GM, U.S, Chevrolet, SAIC, GM Pan, Asia Automotive Technology Center, Nurphoto, PSA Groupe, Chrysler, EVs, GM's, Buick, Wuling Motors, Motors, Bank of America Securities, China, Hummer, Durant Guild, America's, Detroit, P Global Mobility, Ford Motor, Tesla, Reuters, EV, Baidu, Warren Capital, Ford, Guangzhou Automobile Group, India & Asia, Lincoln, Lincoln Nautilus Locations: Detroit , Michigan, China, Barra, Beijing, Asia, Shanghai, Russia, India, Thailand, Australia, North America, South Korea, Brazil, Europe, GM's U.S, Qingdao, East China's Shandong, Indonesia, U.S, Nio, Greater China, South America

☆ To train car dealers on EVs and other topics, Ford turns to gamification and AI-powered education
▼ + stars: | 2024-05-01 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

Ford says the main goals of the "Ford University" platform are to improve customer service, better engage employees — especially younger ones who are accustomed to binge-watching videos — and provide dealers and the company with more data to assist business. Vietor, who joined Ford in March 2023 after leading global games learning for Amazon Web Services, will oversee Ford University. She declined to disclose how much the company has spent on the new training. Dealership employees, who are independently employed by dealers, are crucial to the company's sales, performance and customer engagement and satisfaction. Automakers have long touted the idea that better dealer experiences lead to happier customers who are more likely to become repeat customers.

Persons: Abby Vietor, Vietor Organizations: Netflix, Ford, Amazon Web Services, Ford University Locations: Mich

☆ Carvana shares spike 30% as used car retailer posts record first quarter
▼ + stars: | 2024-05-01 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

Vehicles are seen on display at a Carvana dealership in Austin, Texas, on Feb. 20, 2023. Shares of Carvana popped more than 30% during after-hours trading Wednesday after the automaker reported record quarterly results and turned a profit during the first quarter. It also posted an all-time-best adjusted earnings before interest, taxes, depreciation and amortization of $235 million, up from a $24 million loss a year earlier. Carvana's adjusted profit margin for the quarter was 7.7%. They had climbed roughly 67% so far this year before the company reported its first-quarter results.

Persons: Carvana, Ernie Garcia III, Garcia, Mark Jenkins Organizations: Wednesday Locations: Austin , Texas

☆ 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 is set to report earnings after the bell. Here's what Wall Street expects
▼ + stars: | 2024-04-24 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

DETROIT — Ford Motor is announcing first-quarter earnings after the markets close Wednesday. The automaker's 2024 guidance released in February included adjusted earnings before interest and taxes, or EBIT, of between $10 billion and $12 billion; adjusted free cash flow of $6 billion to $7 billion; and capital spending of $8 billion to $9.5 billion. There is less consensus on Wall Street around Ford's performance than there was for its crosstown rival General Motors , which on Tuesday reported strong first-quarter results and raised its full-year guidance. Ford is Morgan Stanley's "top pick," but others on Wall Street are less bullish on the company. Ford has faced years of inflated warranty costs, including $1.9 billion in 2023, which have affected its earnings.

Persons: Ford's, Ford, Morgan Stanley's, Joseph Spak, Jim Farley's, — CNBC's Michael Bloom Organizations: New York, DETROIT, Motors, UBS

☆ 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

☆ Earnings playbook: Your guide to trading a huge week of reports, including Meta Platforms
▼ + stars: | 2024-04-21 | by ( Fred Imbert | ) www.cnbc.com time to read: +9 min

Tesla is set to report earnings after the bell. What history shows: Bespoke data shows Tesla beats earnings estimates 63% of the time. What history shows: Boeing shares have risen in four of the past five earnings days, Bespoke data shows. Meta Platforms is set to report earnings after the closing bell. What history shows: Microsoft earnings have beaten earnings estimates in six straight quarters, Bespoke data shows.

Persons: Michael Wayland, FactSet, Tesla, TSLA, Emmanuel Rosner, Dave Calhoun, Peter Saleh, Saleh, Chipotle, Morgan Stanley's, Ford, Jim Farley's, Ronald Josey, Jordan Novet Organizations: General Motors, CNBC, Tuesday, GM, Wall, Motors, Investment, Deutsche Bank, EV, Boeing, Ford, Management, Ford Motor, Detroit, Investors, Citi, Meta, Bloomberg News, Apple, Microsoft Locations: California

☆ VW workers in Tennessee vote to join UAW in historic win for Detroit union
▼ + stars: | 2024-04-19 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

According to results posted by the UAW's main lawyer, union organizing passed with 73% of the vote, or 2,628 workers, in support for the UAW, according to the post. A total of 3,620, or roughly 84%, of the more than 4,300 eligible VW workers voted in the election, the union said. "In a historic victory, an overwhelming majority of Volkswagen workers in Chattanooga, Tennessee, have voted to join the UAW," the union said in a release Friday night before official results were released by the NLRB. "While votes continue to be tallied, the outcome is clear: Volkswagen workers in Chattanooga are the first Southern autoworkers outside of the Big Three to win their union." VW confirmed the UAW's win in a release Friday night but offered little comment.

Organizations: United Auto Workers, UAW, VW, Volkswagen, NLRB, General Motors, Ford Motor, Chrysler Locations: Chattanooga , Tennessee, Detroit's, Chattanooga, Southern, U.S

☆ Volkswagen union vote in Tennessee to test UAW's power after victories in Detroit
▼ + stars: | 2024-04-16 | by ( Michael Wayland | ) www.cnbc.com time to read: +6 min

Elijah Nouvelage | Getty ImagesDETROIT — Volkswagen workers in Chattanooga, Tennessee, will vote this week on whether to organize with the United Auto Workers in a key test of the union's sway. More than 4,000 VW workers are eligible to vote, beginning Wednesday and ending at 8 p.m. EDT on Friday. The organizing vote, which is being overseen by the National Labor Relations Board, will need a simple majority to succeed. Volkswagen, which has union workers at non-U.S. plants, has said it will let its workers determine whether to organize. An aerial view of the Chattanooga Volkswagen factory in Chattanooga, Tennessee on April 10, 2024.

Persons: Elijah Nouvelage, Shawn Fain, Fain, Stephen Silvia, Southern, Silvia, Kevin Wurm, it's, we're, —, Isaac Meadows, Meadows Organizations: Volkswagen, Getty, DETROIT, United Auto Workers, UAW, General Motors, Ford Motor, Chrysler, Detroit, Tennessee VW, VW, National Labor Relations Board, Detroit automakers, Southern Gamble, Workers, Foreign, American University, Washington , D.C, Chattanooga Volkswagen, Washington Post, Ford Locations: Chattanooga , Tennessee, U.S, Detroit, Tennessee, Chattanooga, Washington ,

☆ Republican governors from six states condemn UAW campaigns, citing potential for layoffs
▼ + stars: | 2024-04-16 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

DETROIT — Republican governors of six states on Tuesday condemned the United Auto Workers' push to organize automotive factories in the South, warning the union's efforts could lead to layoffs and fewer future investments. The joint statement — signed by governors in Alabama, Georgia, Mississippi, South Carolina, Tennessee and Texas — comes a day before Volkswagen workers in Chattanooga, Tennessee, begin voting on whether to join the UAW. The VW vote is part of an unprecedented labor organizing drive announced last year by UAW President Shawn Fain that targets 13 automakers operating in southern states and elsewhere. "We have worked tirelessly on behalf of our constituents to bring good-paying jobs to our states. Unionization would certainly put our states' jobs in jeopardy — in fact, in this year already, all of the UAW automakers have announced layoffs," read the statement.

Persons: —, Texas —, Shawn Fain, Bill Lee Organizations: DETROIT, United Auto Workers, UAW, VW, General Motors, Ford Motor, Chrysler, Tennessee Gov Locations: Alabama , Georgia , Mississippi, South Carolina , Tennessee, Texas, Chattanooga , Tennessee

☆ 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

☆ Why car insurance costs are skyrocketing and leading to higher inflation
▼ + stars: | 2024-04-11 | by ( Michael Wayland | ) www.cnbc.com time to read: +6 min

RobertCrum | Getty ImagesDETROIT – Skyrocketing auto insurance costs helped contribute to inflation accelerating at a faster-than-expected pace in March and are adding to the ever more expensive costs for U.S. vehicle owners. Auto insurance costs have been on the rise for some time, growing every month as part of the index since December 2021. However, auto insurance remains a small portion of the CPI, with a 2.85% weighting. watch nowThe insurance cost increases on inflation come more than two years after the Biden administration largely blamed used car prices for pushing inflation higher in January 2022. The cost of vehicle insurance — which is mandatory in almost every state — varies by provider, driver, coverage and location.

Persons: Sean Tucker, Kelley, David Sampson, Sampson, Biden, Mitchell, Power, —, it's, Price, Mark Garrett, — CNBC's Robert Ferris, Jeff Cox Organizations: Getty, DETROIT, U.S, Auto, U.S . Bureau of Labor Statistics, American, Casualty Insurance Association, CNBC, Progressive, Power's U.S . Auto Insurance, State Farm, Liberty Mutual Locations: U.S, Power's U.S, Geico, .

☆ Ford prepares to resume F-150 Lightning shipments, drops prices on some models
▼ + stars: | 2024-04-11 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

The F-150 Lightning on display at the New York International Auto Show on March 28, 2024. DEARBORN, Mich. — Ford Motor is lowering the starting prices of some all-electric F-150 Lightning pickup trucks as it prepares to resume shipping the vehicles after quality issues. That was followed by $2,500 off Lariat models, now priced at $74,995, as well as a $2,000 reduction for XLT models, with a new price of $62,995. Prices on the $54,995 entry-level Pro model and an $84,995 top-end Platinum model were unchanged. Ford's cuts come three months after it adjusted Lightning prices, including increasing some model prices.

Persons: Kumar Galhotra Organizations: New York, Ford Locations: DEARBORN, Mich, Dearborn , Michigan

General Motors' Cruise self-driving vehicle unit will redeploy cars on U.S. roadways for the first time since October, beginning with a small fleet of human-driven vehicles in Phoenix, the company said Tuesday. Cruise said its "goal is to resume driverless operations," however it did not provide a timeline for doing so. The probe also investigated allegations of a coverup by Cruise leadership, but did not find any evidence to support those claims. Prior to the accident, Cruise was planning an aggressive expansion of robotaxis outside its home market, where the majority of its vehicles operated. In addition to the ceasing of operations, Cruise leadership has been gutted: Its cofounders, including CEO and cofounder Kyle Vogt, resigned and nine other leaders were ousted.

Persons: Cruise, We've, Kyle Vogt Organizations: Motors, GM, Cruise, California DMV, California Public Utilities Commission, Traffic Safety Administration, U.S . Department of Justice, U.S . Securities, Exchange Commission Locations: Phoenix, San Francisco, California

☆ Toyota's first new 4Runner SUV in 15 years will offer a hybrid engine
▼ + stars: | 2024-04-09 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

Toyota's "truck family" is also known as the "five brothers": the Tacoma and Tundra pickup trucks and the 4Runner, Land Cruiser and Sequoia SUVs. 2025 Toyota 4Runner Trailhunter ToyotaToyota said pricing of the 2025 4Runner will be released closer to its on-sale date. 2025 Toyota 4Runner Limited ToyotaThe 4Runner's available hybrid engine is a turbocharged 2.4-liter engine with a 48-horsepower electric motor integrated into the eight-speed transmission to produce up to 326 horsepower and 465 foot-pounds of torque. Production of the 2025 4Runner is taking place at Toyota's Tahara plant in Japan. Correction: The 2025 Toyota 4Runner is the first new version of the vehicles in 15 years.

Persons: Dave Christ, We've, Jack Hollis Organizations: Toyota, Pro Toyota Toyota, Toyota Tacoma, Tacoma, Cruiser, Sequoia, Land Cruiser, Toyota Toyota, Toyota Motor North America, CNBC, Toyota 4Runner Limited, TRD Locations: Toyota's, Japan

☆ GM continues reinvention of Buick brand with new Enclave SUV
▼ + stars: | 2024-04-09 | by ( Michael Wayland | ) www.cnbc.com time to read: +6 min

In this article GM Follow your favorite stocks CREATE FREE ACCOUNT2025 Buick Enclave GMWARREN, Mich. — General Motors has redesigned Buick's flagship Enclave SUV as the latest testament to the automaker's ongoing reinvention of the roughly 125-year-old brand. While the Enclave is the latest of Buick's current vehicles to receive the Wildcat treatment, it may not be the last. 2025 Buick Enclave GMThe 2025 Enclave is longer, wider and taller than the current model. 2025 Buick Enclave GMSuper Cruise, GM's hands-free highway driving system, will be offered on each of the Enclave's three trims: Preferred, ST and Avenir. Avenir models represented about 25% of Buick's sales during the first quarter of this year.

Persons: Mark Reuss, Reuss, Bob Boniface, Boniface, Duncan Aldred, ", Aldred, Mary Barra, Sandy Huffaker, That's Organizations: GM WARREN, —, Motors, Buick, GM, Enclave, Company, U.S, GMC, EVs, General Motors Co, GMC Sierra Denali, Bloomberg, Getty Locations: Mich, Detroit, Michigan, Chula Vista , California, U.S, China

☆ Hyundai's Genesis brand is a dark horse in U.S. luxury vehicle market
▼ + stars: | 2024-04-05 | by ( Michael Wayland | ) www.cnbc.com time to read: +5 min

Not only has Genesis made it, the brand has thrived to become a dark horse in the U.S. luxury market with unique styling, unexpected comfort and well-ranked quality. Patricia Wayne, first all-electric GV60 customer and Claudia Marquez (right), chief operating officer, Genesis Motor North America, at Genesis Santa Monica, Santa Monica, Calif., May 26, 2022. Genesis started as a vehicle in Hyundai's lineup but the company announced in late 2015 that it would become its own brand. Genesis sales last year increased about 23% over the prior year to 69,175 vehicles. Muñoz said Genesis will be a "key focus of the plant," which also will produce Hyundai and Kia vehicles.

Persons: Michael Wayland, —, Randy Parker, Claudia Marquez, Parker, Marquez, Patricia Wayne, Genesis, José, Muñoz, Jae Hoon Chang, there's, Stephanie Brinley, that's, Brinley, … Organizations: CNBC, Hyundai Motor, South, Infiniti, Hyundai Group, Hyundai, New York, Genesis, North America, Santa, North American, Porsche, Lexus, Mercedes, Benz, North, Rover, Volvo, P Global Mobility, Kia Locations: South Korean, U.S, North America, Santa Monica, Calif, Lincoln, New York, Georgia, Alabama, South Korea

☆ Ford to delay all-electric SUV to focus on offering hybrid vehicles across its lineup by 2030
▼ + stars: | 2024-04-04 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

DETROIT – Ford Motor is delaying production of a new all-electric three row SUV, as it shifts to offer hybrid options across its entire North American lineup by 2030. The shift in EV plans is the latest for Ford and the entire automotive industry as adoption has been slower than many expected and production costs remain high. Ford last year said it would delay or cancel $12 billion in planned spending on new EVs due to the shifting market conditions as well as challenges to profitably building and selling the vehicles. In the first quarter of 2024, Ford's electric vehicle sales increased by 86% from subdued levels a year earlier. Hybrid sales for the automaker rose 42% year over year, while sales of Ford's traditional vehicles with internal combustion engines were up 2.6%.

Persons: Jim Farley Organizations: DETROIT, Detroit, Ford Locations: Detroit, EVs, Canada, U.S

☆ GM U.S. vehicle sales fall 1.5% during the first quarter, underperforming other major automakers
▼ + stars: | 2024-04-02 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

DETROIT – General Motors on Tuesday reported a 1.5% decline in first quarter U.S. vehicle sales compared to a year ago, as the overall auto industry normalizes after years of disruptions and volatile results. Retail sales to customers were up 6%, GM said. GM's sales are below expectations for the overall industry, which Cox Automotive forecast to be up 5.5% from a year earlier. Buick was the only GM brand to report a sales increase during the quarter, up 16.4% from a year earlier. GM reported sales of its full-size pickups totaled roughly 197,000 units, up 3.6% from a year earlier, during the first quarter – marking their best performance during that time since the first quarter of 2020.

Persons: Marissa West Organizations: DETROIT, Motors, U.S, Detroit automaker, GM, Cox, Buick, GMC, Cadillac, Chevrolet, GM North America

☆ Toyota could introduce electric, plug-in Tacoma and Tundra pickups
▼ + stars: | 2024-03-28 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

Toyota has previously discussed a broad lineup of battery-electric vehicles , or BEVs, including a midsize pickup model like the segment-leading Tacoma. The latest conversations have introduced the potential for plug-in hybrid vehicles, or PHEVs. Whether it be Tundra, Tacoma or something else in addition to the lineup," Hollis told CNBC on Tuesday during the New York Auto Forum conference. NEW YORK — Toyota Motor is evaluating an expansion of its U.S. truck lineup that could include all-electric or plug-in hybrid electric versions of its Tacoma and Tundra pickups. There are not any plug-in hybrid electric pickups currently on sale in the U.S. Stellantis' Ram brand is expected to release an "extended-range" plug-in vehicle with an electric generator powering an engine later this year.

Persons: BEV, Hollis, Jack Hollis, Stellantis, Biden, Muñoz Organizations: Toyota, U.S, Reuters, CNBC, New York Auto Forum, Toyota Motor North, Tacoma, Hyundai, Wednesday Locations: Kentucky, Thailand, Tacoma, Toyota Motor North America, U.S, Georgia

☆ Ford sees opportunity for Mustang as competitors abandon V8 engines
▼ + stars: | 2024-03-27 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

DETROIT — Ford Motor sees opportunity to grow Mustang sales as it becomes the last American muscle car with a traditional V8 engine, playing to generations of gearheads who've been drawn to the performance vehicles. The optimism comes after Mustang's closest American competitors ended production of their muscle cars in December. Jeff Marentic, general manager of Ford Blue products, which includes the Mustang, said the pony car remains good business for the automaker both domestically and internationally. "For people who are looking for a true American sports car, it's available to them. … We're looking and talking about the future of Mustang, and how far we can grow it."

Persons: gearheads who've, Stellantis, Jeff Marentic, Marentic Organizations: DETROIT, Ford Motor, General Motors, Chevrolet, Dodge Challenger, Ford, CNBC Locations: American

☆ Hyundai considering hybrid vehicle production at $7.6 billion Georgia EV plant
▼ + stars: | 2024-03-27 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

NEW YORK – Hyundai Motor is reevaluating its plans to exclusively produce all-electric vehicles at a new plant under construction in Georgia, an executive told CNBC on Wednesday. José Muñoz, Hyundai president and global chief operating officer, said the company is evaluating whether or not to produce hybrid or plug-in hybrid electric vehicles at the $7.59 billion plant in addition to all-electric vehicles. The reassessment comes amid slower-than-excepted adoption of EVs, as well as the Biden administration revising emissions rules to better take into account hybrid and plug-in hybrid electric vehicles rather than a focus on all-electric vehicles. Muñoz said Hyundai remains committed to EVs but also knows hybrids and plug-in hybrid vehicles may be better for some consumers. Hyundai on Wednesday revealed a refreshed Tucson crossover that will be offered as a traditional gas engine, hybrid and plug-in hybrid electric vehicle.

Persons: José Muñoz, Muñoz, Biden, We've Organizations: Hyundai, CNBC, New York, Hyundai Motor, South, LG Energy, SK Locations: Georgia, Bryan County, South Korea, Tucson

☆ Hyundai’s Genesis reveals all-electric SUV concept, the Neolun
▼ + stars: | 2024-03-26 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

NEW YORK – Hyundai's Genesis is previewing the future of the growingly prominent luxury brand with a new large all-electric concept vehicle called the Neolun. The full-size SUV features a sleek exterior design illuminated by long horizontal headlights and taillights reminiscent of the brand's current EVs, though more modern. The SUV features a large central screen with physical buttons below it and a control panel and knob to the right of the driver. "The Neolun Concept is a concept model that showcases the future vision of Genesis, as well as the overall direction in which the brand is headed in terms of product, design and technological advancement," Genesis said in an emailed statement. Automakers routinely use concept vehicles to gauge customer interest or show the future direction of a vehicle or brand.

Persons: Genesis

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