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☆ China's Nio to expand battery swap services to gain an edge on EV infrastructure
▼ + stars: | 2024-04-05 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Pictured here is a Nio battery swapping station in Haikou, Hainan province, China, on May 9, 2023. Bloomberg | Bloomberg | Getty ImagesBEIJING — Chinese electric car company Nio has been expanding its battery swap partnerships in a bid to gain an edge on the infrastructure side of the EV ecosystem. Nio also announced agreements earlier this year to work with two local battery companies on battery swap services. While having a large network of battery charging stations helps address those concerns, battery swapping is a faster method as it takes only a few minutes. CLSA's Luo said businesses also prefer to invest in normal charging stations than swap stations because they make a higher return.

Persons: Nio, —, JAC —, Ding Luo, Shen Fei, Shen, it's, Le, William Li, Shay Natarajan, Luo, Ford Organizations: Bloomberg, Getty, Chery, CNBC, Battery, Nissan, Sino Auto, Mobility Impact Partners, General Motors Locations: Haikou, Hainan province, China, BEIJING, U.S, San Francisco, Kyoto, Japan, Madrid, Spain, Europe, North America

☆ 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

☆ Tesla short-seller names 2 auto stocks to own — giving them 100% upside
▼ + stars: | 2024-04-04 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

A Tesla short-seller named two auto stocks that he believes have the potential to deliver 100% upside for investors. Lekander, who holds a short position in Tesla shares, has said the EV carmaker could "go bust" while its stock could fall to $14. His comments came after Tesla reported 386,810 vehicle deliveries in the first quarter, significantly below the lowest market estimates . Valuing AI in auto Lekander also dismissed the notion that Tesla's self-driving software justifies its high valuation, noting that the product is still in early research and development. "I thus remain massively bullish quality auto stocks, Stellantis and Mercedes are my favourites as they are well run and fully investor owned," Lekander told CNBC via email.

Persons: Per, Mercedes, Tesla, Lekander, CNBC's, Lekander's, — CNBC's Arjun Kharpal Organizations: Clean, Mercedes Benz, Romeo, Chrysler, Dodge, Fiat, Jeep, EV, Nvidia, CNBC, Stellantis

☆ Tesla has a big competitor. And it is China’s BYD
▼ + stars: | 2024-04-03 | by ( Rosa Deacostanoya | Rosa De Acosta | ) edition.cnn.com time to read: +4 min

In 2023, Tesla sold around 230,000 more cars than BYD. That drop was big enough for Tesla, which sold 386,810 BEVs in the same period, to retake its former position despite posting plunging sales. Both Tesla and BYD are expanding beyond their home markets and investing in factories abroad. BYD sold about 3 million electric cars, including hybrids, in 2023 globally. By comparison, Tesla, which does not sell hybrids, delivered a total of 1.8 million vehicles worldwide last year, which was about 19% of the global market for BEVs.

Persons: Hong Kong CNN —, Wang Chuanfu, It’s, Murthy Grandhi, BYD, Tesla Organizations: Hong Kong CNN, Tesla, Toyota, French PSA Group, Fiat Chrysler Automobiles, Chrysler, Maserati, Peugeot, BMW, Ford, Benz, Ferrari, Yuan, Rho, BEVs Locations: China, Hong Kong, Shenzhen, London, United States, American, Shanghai, California, Canada, European

☆ An $88 billion auto giant laid off 400 workers remotely in a move likened to ending a marriage by video call
▼ + stars: | 2024-03-29 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +5 min

The move by Stellantis, worth $88 billion, has sparked fresh discussions on the etiquette around how to execute layoffs. AdvertisementExperts say that virtual and remote-style layoffs aren't the best solution — it shows a lack of empathy and consideration for the workers affected and might push remaining workers to leave. AdvertisementWhen employees feel the "psychological contract" between themselves and their employers is "violated," they may resort to extreme reactions, Jones said. This could also hurt the morale of remaining employees and increase attrition, according to Boodoo. "Research suggests that following a layoff, there's an increase in voluntary turnover among remaining employees.

Persons: —, Elon Musk, they'd, Ben Hardy, Amanda Jones, it's, Jones, Muhammad Umar Boodoo, weren't Organizations: Service, Dodge, Wall Street Journal, CNBC, Business, Google, Twitter, Employers, London Business School, King's College London, Warwick Business School, Employees

☆ 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

☆ Automakers Are Rerouting Car Shipments Away From Baltimore
▼ + stars: | 2024-03-26 | by ( Neal E. Boudette | More About Neal E. Boudette | ) www.nytimes.com time to read: +1 min

Several large automakers said on Tuesday that they were working to reroute shipments of cars because of the collapse of the Francis Scott Key Bridge in Baltimore. The Port of Baltimore plays an important role in the shipment of vehicles and handled more than 750,000 cars and trucks in 2023, according to the Maryland Port Administration. Pete Buttigieg, the U.S. transportation secretary, said that the rerouting would affect the national supply chain. “It will not be quick, and it will not be inexpensive.”Among the automakers that use the port are General Motors, Ford Motor, Stellantis, Volkswagen, Mercedes-Benz and BMW. Some automakers said they were planning to divert imports and exports of vehicles to other East Coast ports while they assessed how the collapse would affect their logistics.

Persons: Francis Scott Key, Wes Moore, Pete Buttigieg Organizations: Maryland Port Administration, Gov, General Motors, Ford Motor, Volkswagen, Mercedes, Benz, BMW Locations: Baltimore, The Port, United States, Maryland, U.S, East Coast

☆ What investors should know about the U.S. easing vehicle emissions rules
▼ + stars: | 2024-03-23 | by ( Michael Wayland | ) www.cnbc.com time to read: +6 min

President Joe Biden speaks at the United Auto Workers political convention at the Marriott Marquis in Washington, D.C., Jan. 24, 2024. The new Environmental Protection Agency rules released Wednesday aim to cut tailpipe emissions by 49% between model years 2027 and 2032. The EPA set a target for EVs to make up at least 35% of new vehicle sales by 2032. The EPA's new strategy for cutting tailpipe emissions doesn't focus only on EVs. The EPA's percentage targets for EV adoption are not mandates but expectations for how automakers could meet the emissions regulations.

Persons: Joe Biden, Saul Loeb, Biden, Emmanuel Rosner, Mary Barra, Ngan, John Bozzella, Stocks, Tesla, weren't, Chelsea Hodgkins, Martin Viecha, Chris Kapsch, Morgan Stanley, Adam Jonas Organizations: United Auto Workers, Marriott Marquis, Washington , D.C, AFP, Getty, DETROIT, Environmental Protection Agency, EPA, EV, Detroit Automotive, Wall Street, Detroit, General Motors, Ford Motor, Chrysler, capex, Deutsche Bank, Chevrolet Silverado, Huntington Place Convention, Afp, Alliance for Automotive Innovation, United Auto Workers union, UAW, Toyota, Public Citizen, Sierra Club, Democratic, GM, Ford Locations: Washington ,, Detroit , Michigan, U.S, Detroit, Michigan

☆ Chrysler parent Stellantis laying off 400 salaried U.S. workers due to 'unprecedented uncertainties'
▼ + stars: | 2024-03-22 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

The Stellantis sign is seen outside the FCA Headquarters and Technology Center in Auburn Hills, Michigan, on Jan. 19, 2021. DETROIT — Stellantis is laying off roughly 400 salaried employees in the U.S. in its engineering, technology and software units to cut costs as the automaker faces what it calls challenging market conditions. Stellantis on Friday said the layoffs would affect about 2% of employees in those units "after rigorous organizational reviews." Stellantis employed 11,800 U.S. salaried employees as of the end of last year. A source familiar with the actions confirmed it at about 400 workers, a number first reported Friday by The Wall Street Journal.

Persons: Stellantis, Carlos Tavares Organizations: FCA Headquarters, Technology Center, DETROIT, Wall Street, Fiat Chrysler, French, PSA Groupe Locations: Auburn Hills , Michigan, U.S

☆ Why a small China-made EV has global auto execs and politicians on edge
▼ + stars: | 2024-03-22 | by ( Michael Wayland | ) www.cnbc.com time to read: +12 min

The rise of BYD and other Chinese automakers led Tesla CEO Elon Musk in January to warn that Chinese automakers will "demolish" global rivals without trade barriers. Caresoft, an engineering benchmarking and consulting firm, has already torn down one China-built BYD Seagull and is preparing to do another. Michael Wayland / CNBCThe consulting firm tore apart the BYD Seagull piece by piece to benchmark the small EV against vehicles from other startups and traditional automakers. Its initial study of the BYD Seagull found it to be efficiently and simplistically designed, engineered and executed, but with unexpected quality and anticipated reliability. Growing concernsBYD's rise comes at a precarious time for global auto industry dynamics.

Persons: It's, Terry Woychowski, Warren Buffett, —, BYD, Tesla, Elon Musk, Caresoft Bernstein, Nissan, Michael Wayland, Caresoft, simplistically, Woychowski, Mathew Vachaparampil, CNBC BYD, Stellantis —, Donald Trump, Zach Gibson, Jennifer Granholm, Republican Sen, Marco Rubio, Trump, –, GM Dong, Tang, Marin Gjaja, Gjaja, Ford, you've, Evelyn Cheng, Dylan Butts Organizations: Shanghai International Automobile Industry, National Exhibition, Convention Center, Visual China, Getty, U.S, General Motors, Caresoft, Alliance for American Manufacturing, Overseas, Chevrolet, Nissan Leaf, Bolt, Chicago Federal Reserve, BYD, CNBC, Cox Automotive, Seagull, Tesla, Toyota Motor, Nissan Motor, Honda Motor, Hyundai, Kia, — GM, Ford, Chrysler, U.S ., Washington , D.C, Bloomberg, Republican, North American Free Trade, Republicans, Buick, SAIC, GM, GM Dong Yue Motors Co, Detroit Locations: Shanghai, LIVONIA, Mich, –, China, Europe, Latin America, Detroit, Texas, Germany, Japan, U.S, Livonia , Michigan, America, XPENG, Mexico, Thailand, Brazil, Indonesia, Hungary, Uzbekistan, ., Washington ,, United States, Marco Rubio of Florida, Yantai, Shandong Province

☆ Stellantis is recalling 285,000 sedans because side curtain airbag inflators could break open
▼ + stars: | 2024-03-22 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +1 min

CNN —Stellantis is recalling almost 285,000 Dodge Charger and Chrysler 300 sedans in the United States because they have side curtain airbag inflators that could burst, sending metal shrapnel flying through the cabin. Airbag inflators rely on a chemical reaction that produces gas that rapidly inflates the airbag. The airbag inflators involved in this recall were not installed in any other Stellantis models, according to the documents. Beginning in early May, Stellantis will mail letters to Charger and 300 owners with cars that could have the problem. There were five known instances in which the airbag inflators burst.

Persons: Stellantis, inflators Organizations: CNN, Dodge Charger, Chrysler, National, Traffic Safety Administration Locations: United States

☆ Biden administration softens EV mileage rule in a win for automakers
▼ + stars: | 2024-03-19 | by ( ) www.cnbc.com time to read: +6 min

The original Biden administration proposal would have lowered such "petroleum-equivalent fuel economy" ratings for EVs by 72% in 2027. The industry cheered the Energy Department announcement. Automakers, auto dealers and the UAW called the original EPA plan unrealistic. The National Resources Defense Council (NRDC) and Sierra Club had urged EV mileage rating reductions after the Energy Department left them unchanged for two decades. "The automakers' free ride is over," he said, adding that changes "will curtail automakers' use of phantom credits they used to keep selling gas-guzzlers."

Persons: Biden, Joe Biden's, Donald Trump, John Bozella, Tesla, Pete Huffman Organizations: Detroit, Biden, Department of Energy, Reuters, U.S, Republican, Energy Department, Ford, Alliance, Automotive, United Auto Workers, General Motors, Chrysler, Traffic, Environmental Protection Agency, EPA, Toyota, Honda, Hyundai, GM, Volkswagen, UAW, National Resources Defense Council, Sierra Club, Energy Locations: New York City, United States, Michigan, fleetwide, U.S, NRDC

☆ UAW files for union vote at Volkswagen’s Tennessee plant
▼ + stars: | 2024-03-18 | by ( Chris Isidore | ) edition.cnn.com time to read: +3 min

New York CNN —The United Auto Workers union is seeking a union representation vote among more than 4,000 hourly workers at the Volkswagen plant in Chattanooga, Tennessee. The union has announced a broad-based campaign to win representation at the American plants of 13 nonunion automakers. That is slightly more than the union’s representation at the three unionized automakers, which have about 145,000 UAW members between them. The VW Chattanooga plant is the only factory operated by VW that does not have union representation. Once the election process starts, management often holds mandatory meetings with staff to make the case against union representation, and that convinces some earlier supporters of the union to end their support.

Persons: –, ”, Victor Vaughn, ” Vaughn, “ Organizations: New, New York CNN, United Auto Workers, Volkswagen, BMW, Honda, Hyundai, Mazda, Nissan, Subaru, Toyota, Volvo, – Tesla, –, Motors, Ford, Jeep, Dodge, Chrysler, VW, ” Locations: New York, Chattanooga , Tennessee, VW Chattanooga, Chattanooga

The union has come close to representing workers at the VW plant in two previous elections. Some prominent Tennessee Republican politicians had urged workers to vote against the union during both campaigns. The year after the 2014 vote failed, 160 Chattanooga maintenance workers won a vote to form a smaller union, but Volkswagen refused to bargain. In November, VW gave workers an 11% pay raise at the plant, but the union says VW's pay still lags behind Detroit automakers. Top assembly plant workers in Chattanooga make $32.40 per hour, VW said.

Persons: —, we'll, Yolanda Peoples Organizations: DETROIT, United Auto Workers, Workers, National Labor Relations Board, UAW, Detroit automakers, Tesla, Nissan, Mercedes, Benz, Hyundai, Kia, Toyota, Honda, VW, NLRB, Volkswagen, Tennessee Republican, General Motors, Ford, Detroit Locations: Chattanooga , Tennessee, Chattanooga, Tennessee, Mercedes, Vance , Alabama, Tuscaloosa, Alabama

☆ VW Workers Seek Union Vote at Tennessee Plant for Third Time
▼ + stars: | 2024-03-18 | by ( Neal E. Boudette | ) www.nytimes.com time to read: 1 min

Volkswagen employees in Tennessee who are hoping to join the United Automobile Workers asked a federal agency on Monday to hold an election, a key step toward the union’s longtime goal of organizing nonunion factories across the South. With the union’s backing, Volkswagen workers filed a petition with the National Labor Relations Board asking for a vote on U.A.W. representation, saying that more than 70 percent of the 4,000 eligible workers at the plant had signed cards supporting the union. “Today, we are one step closer to making a good job at Volkswagen into a great career,” Isaac Meadows, an assembly worker at the plant, said in a statement. If held, an election would be the first test of the U.A.W.’s newfound strength after staging a wave of strikes in the fall against the three Detroit automakers — General Motors, Ford Motor and Stellantis — and winning record wage increases.

Persons: ” Isaac Meadows, ’, — Organizations: United Automobile Workers, Volkswagen, National Labor Relations Board, “, Detroit, —, Motors, Ford Motor Locations: Tennessee

☆ VW is reviving a storied American brand to sell electric SUVs
▼ + stars: | 2024-03-17 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +7 min

CNN —When Volkswagen decided to relaunch the Scout SUV brand it took a very unusual step. The revived and revamped Scout Motors will introduce its new brand of all-electric off-road-capable SUVs, kind of like Rivian. Buzz, an electric update of the classic hippie bus, VW is touching on nostalgia to reach a new generation of car buyers. VW came to own the trademark for the defunct brand in 2021 when it purchased Navistar, a successor company to International Harvester. Scout’s parent company, Volkswagen, is building its own EV battery plant in Canada and a battery engineering lab in Chattanooga, Tennessee.

Persons: it’s, Oliver Blume, “ What’s, ”, Erin Keating, Scott Keogh, Dave Mondragon, who’s, they’ll, Keogh, ” Keogh, ” Keough, Chris Benjamin, isn’t, roader, Keating Organizations: CNN, Volkswagen, Scout, Volkswagen Group, Audi, Porsche, VW, ” Volkswagen Group, Cox Automotive, Harvester, International, Bentley, Lamborghini, North, Ford, P Global Mobility, Dealers, Scout Motors, US . Scout Motors, Volkswagen North, Volvo, Mercedes, BMW, Tesla Locations: United States, America, Volkswagen North America, Blythewood , South Carolina, South Carolina, Novi , Michigan, Canada, Chattanooga , Tennessee

☆ Here are Friday's biggest analyst calls: Nvidia, Tesla, Apple, Rivian, Micron, Microsoft, Eli Lilly, Amazon & more
▼ + stars: | 2024-03-15 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Citi upgrades Thor Industries to buy from neutral Citi said it see a "favorable event path" for the RV company. " Citi initiates Pure Storage as buy Citi said in its initiation of Pure Storage that the data storage company is an AI beneficiary. Citi reiterates Apple as buy Citi said it's standing by its buy rating on shares of Apple. Bank of America reiterates Amazon as buy Bank of America said it's bullish heading into Amazon's Spring Sales event next week. Citi reiterates Micron as buy Citi raised its price target on the stock to $150 per share from $95 and says it's bullish heading into earnings next week. "

Persons: Piper Sandler, Piper, Morgan Stanley, RSG, Cummins, Baird, Nvidia, JPMorgan, Tesla, Telsey, Todd Vasos, it's, Stellantis, Five9, PBF, DINO, Truist, Eli Lilly, LLYs, Dave Ricks, Patrik Jonsson Organizations: EV, Bank of America, Adobe, Citi, Thor Industries, Morgan Stanley downgrades Republic Services, UBS, Cummins, CMI, Microsoft, Nvidia, JPMorgan, Guggenheim, Apple, Worldwide, " Bank of America, Micron, Catalyst Watch, RBC, UFC, WWE, Inc, Valero Energy, Sinclair, of America, Entertainment, Golden Entertainment, Diabetes, Obesity Locations: Snowflake, F4Q24, China, Nevada

☆ EV euphoria is dead. Automakers trumpet consumer choice for U.S. car shoppers
▼ + stars: | 2024-03-13 | by ( Michael Wayland | ) www.cnbc.com time to read: +11 min

Andrew Merry | Moment | Getty ImagesDETROIT — The buzz around electric vehicles is wearing off. U.S. EV sales were a record 1.2 million units last year, representing 7.6% of the overall national market, Cox Automotive estimates. "Moving on to less tech-savvy buyers will slow the EV market share growth over the next few years." Automakers wanted to emulate Tesla's success, with some promising to exclusively offer EVs in the not-too-distant future. "Toyota is almost completely absent from the [battery electric vehicle] market yet will gain more U.S. market share than any other car company this year.

Persons: hasn't, Andrew Merry, Aston Martin, Tesla, Elon Musk, Marin Gjaja, Ford, Pablo Di Si, Sam Fiorani, Romeo, Bentley, Mary Barra, there's, Cadillac, John Roth, We've, Gjaja, Jim Farley, Rebecca Cook, Oliver Blume, Akio Toyoda, Morgan Stanley, Adam Jonas, It's, Biden, Cox, Michelle Krebs, EVs, Trisha Jung Organizations: DETROIT, EV, Ford Motor, General Motors, Mercedes, Benz, Volkswagen, Jaguar, Rover, CNBC, GM, Hyundai Motor, Kia, Toyota Motor, VW, U.S, Cox Automotive, AutoForecast Solutions, Volvo, Buick, Cadillac, Honda, Ford Motor Co, Ford, Amperex Technology, Toyota, Cox, Tesla, Nissan, Nissan U.S, Environmental Protection Agency, Alliance for Automotive Innovation, American Automotive, Detroit automakers Locations: EVs, Europe, U.S, North America, Warren , Michigan, Detroit, Marshall , Michigan, Romulus , Michigan

☆ Volkswagen says tough market to weigh on car sales growth in 2024
▼ + stars: | 2024-03-13 | by ( ) www.cnbc.com time to read: +2 min

A Volkswagen logo is seen during the New York International Auto Show, in New York City, April 5, 2023. Volkswagen expects a 3% rise in its car sales this year, down sharply from 2023 amid a gloomy economic outlook and growing competition. Presenting the German automaker's 2023 results, finance chief Arno Antlitz said the "general economic situation remains challenging," but added "we are confident about 2024, despite the muted economic outlook and intense competition". When Stellantis reported results last month, it predicted a "turbulent" 2024. Volkswagen shares were down 0.65% to 120.16 euros at 1000 GMT, within a flat German market.

Persons: Arno Antlitz, Stellantis, Mercedes, Benz, Oliver Blume Organizations: New York, Volkswagen, EV, EVs, Ford, General Motors, VW Locations: New York City, Western Europe

☆ Moscow's ties to Beijing are paying off as Russian firms flourish amid lucrative deals with China
▼ + stars: | 2024-03-13 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +3 min

Some Russian companies are seeing their business boom thanks to trade with China, Reuters reported. Analysts warn of China's potential losses if sanctions extend to companies there that do business with Russia. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . As China buys more Russian energy supplies, Chinese companies are supplying Russian firms with machinery and vehicles, Reuters said. AdvertisementStill, experts warn of underlying risks in Russia's economic reliance on China, as China may have much to lose if sanctions extend to domestic companies.

Persons: —, Vladimir Putin, Dmitry Peskov Organizations: Reuters, Service, China, Volkswagen, Renault, Chery Locations: China, Beijing, Russia, Ukraine, Moscow

☆ This tiny EV is the most ridiculous 'car' I've ever driven — but it's also a blast
▼ + stars: | 2024-03-10 | by ( Chris Johnston | ) www.businessinsider.com time to read: +1 min

The Ami is most ridiculous "car" I've ever driven — but it turns heads and is a lot of fun too. I thought I knew what to expect, but it wasn't until the "car" was driven off the trailer that I realized I'd taken custody of a large lawnmower. A large electric lawnmower. The Ami (French for "friend") also looked like it'd been washed in an army surplus cycle. Appropriately enough I almost made a new friend before I'd even parked, as a passer-by asked if I'd just bought it.

Persons: Ami, —, Ram, Romeo —, I'd Organizations: Service, Dodge, Peugeot Locations: London

But Dodge CEO Tim Kuniskis said there were hints that a gas version would live on. Dodge claims the high-performance electric version is world's quickest and most powerful muscle car. The new gas-powered Charger Sixpack will look similar to the electric versions and be powered by a new 3-liter six-cylinder engine with two turbochargers. With federal tax incentives on electric vehicles, there likely will be very attractive lease payments that could sway some buyers, he said. People need choices,” he said, adding that the company could be criticized if it didn't build electric versions.

Persons: Dodge, Stellantis, Tim Kuniskis, ”, Kuniskis, he's, “ Organizations: DETROIT, Chargers, NASCAR raceway Locations: Windsor , Ontario, Florida, U.S

☆ Dodge’s new electric muscle car can have a gas engine if you want
▼ + stars: | 2024-03-05 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +5 min

CNN —Muscle car shoppers will face some important decisions with the 2024 Dodge Charger. First, the new Charger will be available as a battery-powered electric car or with a gasoline engine. The most powerful and fastest version, at least initially, will be the fully electric Dodge Charger Daytona Scat Pack, capable of producing up to 670 horsepower from two electric motors. Dodge Charger Daytona models are fully electric and have a hidden front wing. The Charger Daytona Scat Pack will be the top performance version, at least initially, with a maximum of 670 horsepower.

Persons: Dodge, We’re, ”, Tim Kuniskis, it’s, Stellantis Organizations: CNN, Chargers, Dodge, Challenger, All Chargers

☆ Minnesota unions plan to wage simultaneous strikes
▼ + stars: | 2024-03-05 | by ( Chris Isidore | ) edition.cnn.com time to read: +6 min

New York CNN —Nearly 10,000 workers from a coalition of separate unions, working for a diverse group of employers, are planning a series of coordinated strikes in Minnesota this week and next. These kind of collective strikes are common and somewhat easier in Europe, where union membership is more widespread and unions can strike in support of other unions, even if their own contracts have expired. He’s gone on strike twice before, but those were both one-day strikes that he and the union knew would be over quickly. The fact that multiple unions plan to strike together in Minnesota is giving members more confidence, according to Jamie Gully, president of SEIU Healthcare Minnesota and Iowa. He said he hopes that if these negotiations prove successful, unions elsewhere in the country will use the same strategy.

Persons: Paul, ”, AJ Lange, Greg Nammacher, George Mullins, “, He’s, “ I’m, Mullins, Jamie Gully, Stellantis Organizations: New, New York CNN, Union, ’ International Union of North America, City, SEIU Local, Target, CNN, Labor Department, Bureau of Labor Statistics, Cornell University’s School of Industrial and Labor Relations, SEIU Healthcare, United Auto Workers, General Motors, Ford Locations: New York, Minnesota, St, Minneapolis, Europe, America, SEIU Healthcare Minnesota, Iowa

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