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☆ Tesla's easy ride in China may be coming to an end
▼ + stars: | 2024-05-09 | by ( Nora Naughton | ) www.businessinsider.com time to read: +4 min

Elon Musk appears focused on reinforcing Tesla's China business. AdvertisementTesla is facing tougher years ahead in the Chinese market, and it couldn't come at a worse time for the company. AdvertisementAfter years of steady growth in China, Tesla's sales are slippingTesla sold 62,167 cars in China in April, down 18% from a year ago, according to data released Tuesday by the China Passenger Car Association. Inexpensive Chinese cars are also competing with Tesla in important European and Scandinavian markets, a traditional stronghold for Musk. After his latest visit to the region, Musk appears to be sending reinforcements to the Chinese market.

Persons: Tesla, Elon Musk, —, Elon, BYD, China couldn't, Musk, Tom Zhu Organizations: Service, Elon Musk's, Shanghai Gigafactory, China Passenger Car Association, China, Tesla, BYD's, Ford, GM Locations: China, Shanghai, California, Mexico, Tesla's

☆ A port-in-the-storm trade if the consumer continues to get pinched by rates and inflation
▼ + stars: | 2024-05-09 | by ( Michael Khouw | ) www.cnbc.com time to read: +4 min

The consumer, making up 70% of the U.S. economy, is being hit by higher interest rates and sticky inflation. Consumer spending, also known as personal consumption expenditures (PCE), typically represents about two-thirds of the U.S. GDP. While that is attributed to easing consumer demand for EVs, dealer inventories of ICE vehicles have recovered significantly since the pandemic. Away from consumer discretionary and towards consumer staples. The Consumer Staples Select Sector ETF (XLP) is trading 21 times trailing earnings and about 19.6 times forward earnings estimates versus 25.7 times trailing and 22.83 times forward for the Consumer Discretionary Select Sector Index.

Persons: there's, Tesla, Power Organizations: Starbucks, Investors, PPI, CPI, Federal Locations: U.S

☆ The West is freaking out that China is making too much stuff, and it looks like China might be starting to agree
▼ + stars: | 2024-05-09 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

The proposal covers a range of issues, including minimum technical standards and ecological guidelines for battery production. AdvertisementChina's battery production in 2023 alone was already big enough to fill global demand, according to an analysis from BloombergNEF. China's global share of battery manufacturing capacity is expected to fallDespite the West's consternation, there is an upside for the bloc. China's global share of battery manufacturing is expected to decline in the years ahead, according to a report from the International Energy Agency, or IEA, published on Monday. AdvertisementChina now accounts for more than 80% of battery manufacturing capacity, followed by the US and the EU with around 5% each, per the IEA.

Persons: China's, —, Xi Jinping's, Louise Loo, Loo, Chim Lee, Lee Organizations: Service, China's Ministry of Industry, Information Technology, European Union, Oxford Economics, Economist Intelligence, International Energy Agency, US, EU Locations: China, Beijing, Canada, Europe, India

☆ China Is Way Ahead in Green Energy. Here’s Why That’s Risky for the U.S.
▼ + stars: | 2024-05-08 | by ( Somini Sengupta | ) www.nytimes.com time to read: +1 min

The world’s two most powerful countries, the United States and China, are meeting this week in Washington to talk about climate change. In an ideal world, where the clean energy transition was the top priority, they would be on friendlier terms. Maybe affordable Chinese-made electric vehicles would be widely sold in America, instead of being viewed as an economic threat. Instead, in the not-ideal real world, the United States is balancing two competing goals. Its concern is that Chinese dominance of the global market for these essential technologies would harm the U.S. economy and national security.

Persons: Biden, John Podesta, Liu Zhenmin Locations: United States, China, Washington, America, Nevada, Beijing

☆ 2 Chinese EV companies seem to be ganging up on Elon Musk's Tesla
▼ + stars: | 2024-05-08 | by ( Tom Carter | ) www.businessinsider.com time to read: +3 min

EV company Nio is launching a new affordable EV brand in China. The alliance between the two companies will likely intensify pressure on Tesla in China. BYD will reportedly provide a small battery pack for one version of the Onvo EV, with Chinese battery maker CALB supplying a larger 85-kilowatt-hour battery pack. AdvertisementThe alliance between Nio and BYD will likely intensify pressure on Elon Musk in China, where Tesla sales have slumped amid brutal competition for EVs. Once again, however, he is likely to face stiff competition from BYD and Nio, who are developing their own driving assistance software.

Persons: —, Elon, BYD, confirmeded, Nio, didn't, Musk Organizations: Nio, Service, Tesla's, Elon Musk, Reuters, Business, EV, Elon, EVs, China's Passenger Car Association, Bloomberg, Baidu Locations: China, Europe, Nio, Tesla's Shanghai, Beijing, BYD

☆ The EV market isn't in peril. It's just changing.
▼ + stars: | 2024-05-08 | by ( Nora Naughton | ) www.businessinsider.com time to read: +4 min

The rate of EV sales has been slowing for about a year, major automakers have pulled back on their previously lofty EV goals, and even electric car-giant Tesla is faltering. Demand for electric vehicles hasn't dried up completelyDemand for expensive EVs has softened significantly, but an opening exists in the affordable market. A new generation of electric car shoppers are looking for different options than their early-adopting counterparts. Essentially every major automotive company at this point has built its future around selling more electric vehicles. The real divide here is not between hybrids and EVs, but between legacy car companies and EV-only startups.

Persons: —, it's, Power, It's, Elon Musk Organizations: Service, Business, EV, Companies, Ford, GM Locations: EVs

☆ Tesla quietly spent $2 million on a technology Elon Musk previously trashed as a 'fool's errand'
▼ + stars: | 2024-05-08 | by ( Ana Altchek | ) www.businessinsider.com time to read: +3 min

Read previewTesla spent around $2 million on lidar, a technology used in EVs that Elon Musk has previously referred to as a "fool's errand" and that any carmakers relying on it are "doomed." But according to a recent earnings report from lidar manufacturer Luminar, Tesla was its largest customer last quarter and "comprised more than 10%" of its revenue during the period. The CEO said Tesla EVs only rely on camera-based vision systems for driver-assist features. The Tesla CEO said he personally ran a project at SpaceX to create lidar sensors to help navigation. Last year, Tesla recalled over 2 million vehicles after regulators said its Autopilot system didn't protect enough against drivers misusing it.

Persons: —, Tesla, Elon Musk, Luminar, Lidar, lidar, Musk, Elon Musk's Organizations: Service, Business, Systems, SpaceX, Tesla, Luminar, Traffic Safety Administration, US Department of Justice Locations: EVs, Tesla's

☆ Tesla must provide NHTSA with Autopilot recall data by July or face up to $135 million in fines
▼ + stars: | 2024-05-07 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +3 min

Since the recall, at least 20 Tesla vehicles have been involved in crashes in which the system was thought to be in use, according to a filing on the NHTSA's website. The "recall remedy" probe follows a three-year investigation by the agency that found safety issues with Tesla Autopilot contributed to at least 467 collisions and 14 deaths from January 2018 through August 2023. The NHTSA is seeking detailed crash data from the electric vehicle maker since the agency issued the recall update on Autopilot, including data and video stored in or streamed from its cars and retained by the company. The company hasn't disclosed how many jobs in its Autopilot and vehicle-safety engineering teams may have been cut. For about a decade, CEO Elon Musk has been promising that Tesla is on the cusp of a self-driving breakthrough.

Persons: Tesla, Autosteer, They're, Elon Musk, Musk Organizations: Traffic, Administration, NHTSA Locations: U.S

☆ Tesla Chairwoman Robyn Denholm has sold over $50 million worth of stock in 2024
▼ + stars: | 2024-05-07 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +3 min

Tesla Chairwoman Robyn Denholm has just sold $17.3 million worth of her shares in the electric vehicle maker, according to a filing Monday, bringing her total stock sales this year to more than $50 million. Former Tesla Senior Vice President Drew Baglino, who announced his resignation in mid-April, sold shares worth around $181.5 million soon after his departure, according to a filing. In Denholm's early years on the Tesla board, she served on the audit committee. Before joining the Tesla board, Denholm served in executive roles at Sun Microsystems, and in finance roles at Toyota in Australia and at accounting firm Arthur Andersen. In her opinion, Chancellor Kathaleen McCormick wrote that by serving on Tesla's board, Denholm received "life-changing" compensation, which "far exceeded the compensation she received from other sources."

Persons: Robyn Denholm, Tesla, Denholm, Drew Baglino, Kathleen Wilson, Thompson, Elon Musk, hasn't, Musk, Arthur Andersen, —, Chancellor Kathaleen McCormick Organizations: Tesla Inc, American, of Commerce, Tesla, SEC, Sun Microsystems, Toyota Locations: Australia, Sydney, what's, Delaware

☆ China’s booming electric vehicle companies eye U.S. competitors they see as ‘not ready’
▼ + stars: | 2024-05-07 | by ( Janis Mackey Frayer | Jennifer Jett | ) www.cnbc.com time to read: +8 min

Despite lower price tags, Chinese EVs often have more powerful batteries and more advanced technology. The competition among hundreds of Chinese EV makers has spurred rapid innovation. Even Tesla CEO Elon Musk, who made a surprise visit to Beijing last week, has said that without trade barriers Chinese EV makers would "demolish" their competitors. Chinese EVs tend to be smaller, cheaper and more accessible to the masses — BYD's Seagull, a small all-electric hatchback, starts at less than $10,000. It would take time to set up a sales and distribution network, Fields said, and Chinese EV makers could face a perception issue among American consumers.

Persons: They're, Stella Li, America's Tesla, Tesla, BYD, Mark Fields, Elon Musk, Musk, Fields, they've, Li, Biden, Musk's, That's Organizations: Alliance for American Manufacturing, U.S, BYD, NBC News, Western, Communist Party, Ford, International Energy Agency, Western automakers, United States, Lawmakers, World Trade Organization, European, Rhodium Group, EV, China Association of Automobile Manufacturers Locations: China, EVs, U.S, BYD Americas, BYD, Shenzhen, United States, Beijing, Europe, United, Union, Chinese, Mexico, South Korea, Japan

☆ US inflation will soar if America doesn't undergo reindustrialization, investment manager says
▼ + stars: | 2024-05-07 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Prices in the US could keep going up if the US doesn't "reindustrialize" its economy, Richard Bernstein said. The US has a "massive" trade deficit at a time when world trade is becoming fragmented, he noted. AdvertisementInflation will climb higher if the US economy doesn't reindustrialize its economy, according to investment manager Richard Bernstein. World trade has become more fragmented since the pandemic, and rising geopolitical tensions are a sign that the trend is continuing, he said. If it doesn't … we're going to have tremendous inflation here in the United States," Bernstein said to CNBC on Monday.

Persons: Richard Bernstein, —, Bernstein, Ken Griffin Organizations: US, Service, Commerce Department, CNBC, JPMorgan Locations: United States, America

☆ China's trade war with the US is unlikely to cool down this election year, so it's working on Europe instead
▼ + stars: | 2024-05-06 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

Xi is spending two days in France, meeting French President Emmanuel Macron on Monday before heading to Serbia and Hungary. "I'm calling for an 'aggiornamento' because China is now in excess capacity in many areas and exports massively to Europe," Macron told La Tribune Dimanche, per a Bloomberg translation. She said China's trade practices are leading to unfair trade that are "market-distorting" and "could lead to deindustrialization in Europe." China has pushed back on the West's claims of overcapacity, accusing the bloc of being protectionist and of trying to curb China's economic development. However, Europe — like China — isn't quite the same anymore, following years of economic malaise punctuated by the pandemic and the war in Ukraine.

Persons: —, Janet Yellen, Olaf Scholz, Xi Jinping's, Emmanuel Macron, Macron, Matt Geraci, Geraci, Ursula von der Leyen, Von, Leyen, Léonie Allard, Allard, Xi Organizations: Service, State Authority, European Union, Business, La Tribune Dimanche, Atlantic, Associated Press, European, overcapacity, Council's Locations: China, France, Serbia, Hungary, European, Germany, Europe, Beijing, Washington, Russia, Ukraine

☆ More Americans are feeling a six-figure salary can't afford them a middle-class lifestyle
▼ + stars: | 2024-05-06 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at people who feel like a middle-class salary doesn't equal a middle-class lifestyle . The big storyMiddle-class meltdownMichael Raines"Lately, I'm getting the feeling that I came in at the end. AdvertisementBusiness Insider's Jennifer Sor has a report on the people making over six figures who think the middle-class lifestyle they dreamed of isn't realistic for their salary . AdvertisementMarco Bottigelli/Getty, Yevgen Romanenko/Getty, Maskot/Getty, Tyler Le/BILet's address the elephant in the room: A six-figure salary is still a lot of money. Words like "AI Infrastructure" and "generative AI" point to more money heading to Nvidia for its popular H100 GPU chip.

Persons: —, Michael Raines, I'm, It's, Tony Soprano bemoaned, Jennifer Sor, Vincent, it's, Marco Bottigelli, Yevgen Romanenko, Tyler Le, Jenny Chang, Rodriguez, Warren Buffett, Buffett, Shruti Gandhi, Dalton Caldwell, James Cham, Hemant Taneja, Jenny Lefcourt, Nick Little, Sam Altman, Alice Zhang, Serena Williams, Jack Dorsey, Dorsey, — Dorsey, Bluesky, Alyssa Powell, Katie Notopoulos, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Grace Lett Organizations: Service, Business, Pew Research Center, nab, Adobe, Wall, Hamptons, Nvidia, Genomics, Serena Ventures, Fortune, Starbucks Locations: New York, Zillow, Santa Barbara , California, Berkshire, Bluesky, London, Chicago

☆ Elon Musk is tightening his grip on Tesla
▼ + stars: | 2024-05-06 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +2 min

Top Tesla exec Tom Zhu has been redeployed to China, Electrek reports. Several other top execs have left Elon Musk's company. Musk is consolidating power at Tesla as a vote over his $47 billion pay package looms. AdvertisementOne of Tesla's top executives has been reassigned to China in another sign that Elon Musk is tightening his grip on the electric carmaker. Prior to the move, Zhu had assumed more responsibilities at Tesla as Musk was increasingly occupied by X, according to Electrek.

Persons: Tom Zhu, —, Elon, Elon Musk —, Zhu, Musk, Zhu —, Tesla, Drew Baglino, Rohan Patel, That's Organizations: Elon Musk's, Service, China, X, Reuters, North, Business, Street Locations: China, Shanghai, Delaware

☆ 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

☆ These are the wildest EVs unveiled at China's biggest auto show
▼ + stars: | 2024-05-04 | by ( Tom Carter | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewIf you need more evidence that China's EV market is booming, just look at the country's biggest car show. VCG/VCG via Getty ImagesBy far the biggest name in China's EV market is BYD, the Warren Buffett-backed firm that is probably giving Elon Musk sleepless nights. Xiaomi brings its Tesla rivalJADE GAO/Getty ImagesOne of the biggest draws of the auto show was the SU7, an electric SUV built by smartphone maker Xiaomi. JADE GAO/Getty ImagesThe number of companies trying to make it in China's EV market — at least 123, according to one auto consultant — has seen some firms branch out in unexpected directions.

Persons: —, PEDRO PARDO, Warren Buffett, Elon, BYD, Tesla, Xiaomi, JADE GAO, It's, Mercedes Organizations: Service, Volkswagen, Mercedes, Business, EV, Getty, China's EV, VW Locations: Beijing, China's, China

☆ China’s Xi is visiting Europe for the first time in five years – his goodwill tour will be an uphill struggle
▼ + stars: | 2024-05-04 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +9 min

Major breakthroughs with China’s toughest critics will be hard to come by unless Xi is ready to make surprise concessions. And the trip could instead serve to underscore divisions – not only between Europe and China – but those within Europe that could play to China’s favor, analysts say. Chinese President Xi Jinping and French President Emmanuel Macron visit a garden in Guangdong during Macron's state visit to China last April. Putin has said he plans to visit China this month, according to Russian state media. Xi may also look to highlight Chinese investments in both Belgrade and Budapest in a message to the rest of Europe.

Persons: Xi Jinping, Andrea Bocelli, –, Xi, China –, ”, Noah Barkin, Hungary –, Ursula von der Leyen, Emmanuel Macron, Von der Leyen, Olaf Scholz, Chong Ja Ian, “, Chong, Jacques Witt, China’s, Macron, Russia …, Wang Yiwei, Vladimir Putin, Putin, Aleksandar Vučić, Viktor Orban – Organizations: CNN, European Union, Ukraine, German Marshall Fund of, EU, “, National University of Singapore, Getty, Beijing’s Renmin University, NATO, Reuters, EV Locations: China, Italy, France, Germany, United Kingdom, Russia, “ China, Europe, Berlin, United States, Serbia, Hungary, Beijing, Paris, “ France, North America, Guangdong, Ukraine, Switzerland, Barkin, “, Belgrade, Budapest, Balkans, Balkan

☆ Camping in the Tesla Cybertruck sure seems overly complicated compared to a plain old rooftop tent on a Rivian R1T
▼ + stars: | 2024-05-04 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +5 min

Top Gear tested the Cybertruck camping set up, which starts at nearly $3,000. A rooftop tent on the Rivian R1T seemed a lot quicker and easier to set up. They also brought along a Rivian R1T outfitted with a more standard rooftop tent to compare. Top Gear's head of car testing, Ollie Marriage, showed up with the Rivian R1T and a fairly standard rooftop tent. AdvertisementTop Gear noted plenty of cool things about the Cybertruck camping setup, including how well-integrated the whole design was.

Persons: Tesla's Cybertruck, —, it's, Tesla, Jack Rix, Rix, Ollie Marriage, Rivian Organizations: Gear, Service, British, YouTube, Business Locations: Johnson Valley, Southern California

☆ Why one economist says Elon Musk has turned Tesla into a meme stock
▼ + stars: | 2024-05-02 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

The economist thinks the firm no longer keeps up with what CEO Elon Musk promises. Musk really wants Tesla to be a tech company, but it's an automaker, DeLong said. Advertisement"For all the current Tesla shareholders planning to offload their holdings in the next couple of years, everything hinges on the company succeeding as a meme stock, and Musk is diligently working toward that goal," DeLong argued. Last month, investor Roger McNamee warned that the stock would start trading like a car company if shareholders decided that Musk wasn't central to its narrative. In a similar vein, short-seller legend Jim Chanos called Tesla a "hopes and dreams" stock, trading more on Musk than fundamentals.

Persons: J, Bradford DeLong, Elon Musk, Musk, Tesla, DeLong, —, Elon, Roger McNamee, Jim Chanos Organizations: Project Syndicate, Service, UC Berkeley, Street

☆ Making the power grid 'smart' could save us all money and prevent blackouts. Chattanooga made the $280 million investment.
▼ + stars: | 2024-05-02 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +13 min

Chattanooga's utility built a $280 million smart grid, creating $2.7 billion in economic value. The local utility, called EPB of Chattanooga, spent $280 million to refurbish its power system with smart technologies to make a "smart grid." The traditional power grid carries electricity from a power plant to homes and commercial buildings. Smart grids can bring huge economic benefitsEven Congress knows the nation needs a smart grid. Though a smart grid requires a big up-front investment, it can save a lot of money down the line.

Persons: —, That's, Tiago Majuelos, Monika Skolimowska, Kevin Schneider, Schneider, Joshua Rhodes, David Wade, EPB, Wade, Taylor, David Swanson, We're Organizations: Infrastructure, Service, Chattanooga Smart, US Department of Energy, Wall Street, Getty, Pacific Northwest National Laboratory, American Society of Civil Engineers, University of Texas, Department of Energy, C Electric Company, BI, Reuters, Nationwide Locations: Chattanooga , Tennessee, Chattanooga, Tennessee, EPB, California, Austin, Hamilton County, Palm Springs , California, Columbia, Southern California

☆ Elon Musk's plan for a cheap EV seems to have hit another major snag
▼ + stars: | 2024-05-02 | by ( Tom Carter | ) www.businessinsider.com time to read: +1 min

Tesla has quietly backed away from plans to build EVs with a revolutionary new "gigacasting" method, per Reuters. It raises further doubts over Elon Musk's plans for an affordable EV. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The automaker has reportedly pulled back on plans to roll out a revolutionary new manufacturing method for its electric cars, per Reuters. A move that casts further doubt on Elon Musk's low-cost EV ambitions.

Persons: Tesla, Elon Musk's, —, Elon Organizations: Reuters, Service, Elon Musk's, Business

☆ Tesla shares 'very expensive': EV maker likely to face a 'huge demand problem' over price cuts, fund manager says
▼ + stars: | 2024-05-02 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Other automakers are seeing strong growth in their electric vehicle sales even as the overall global auto market faces a downturn, adding to the pressure for Tesla. Similarly, BMW said earlier in April that sales of fully electric vehicles at its core brand jumped 41% in the first quarter. However, as the EV maker aggressively cut the cost of new vehicles globally, used car values have dropped in parallel. "I think there's going to be a huge demand problem for Tesla," he added. However, they reiterated their "overweight" rating for the stock with a price target of $205 – or 12% upside – for Tesla.

Persons: Tesla, Mark Hawtin, Elon, Hawtin, United States …, Ronald Jewsikow, Guggenheim, Piper Sandler, Alexander Potter, Ben Johnson Organizations: GAM Investments, Baidu, Volkswagen, BMW, Tesla Locations: China, Europe, United States

☆ Costco members can save $1,000 or more on an EV from GM, Volvo, or Polestar this summer
▼ + stars: | 2024-05-02 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

This summer, the wholesale club is swinging big with $1,000 or more off EVs from four brands. There is one catch though: the deal is only available to people who were Costco members as of April 30. AdvertisementOne of the under-appreciated perks of a Costco membership is big savings on new cars. This summer, Costco is swinging big with $1,000 or more off EVs from four brands. From now until July 31, Costco members can take $1,000 off the price of a Cadillac Lyriq, Chevy Equinox EV, Chevy Blazer EV, Volvo C40 Recharge, or Volvo XC40 Recharge.

Persons: — Organizations: Costco, Service, haggling, EV, Blazer EV, Volvo

☆ China's top climate envoy is coming to the US this month as tensions over green tech run high
▼ + stars: | 2024-05-02 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +1 min

The US is trying to cut itself off from China's green tech like solar, EVs, and batteries. The moves could hit China's economy and risks slowing down the green transition. The US and China, as the world's largest polluters, are key to solving the climate crisis. Sign up for our newsletter to get the latest on the culture & business of sustainability — delivered weekly to your inbox. The US wants to protect its factories against competition from cheaper products, which, in turn, could hit China's economy and risk slowing down the green transition.

Persons: Liu Zhenmin, Biden Organizations: Service, Business Locations: China

☆ 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

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