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Following Thursday's trade, Jim Cramer's Charitable Trust will own 600 shares of BBY, increasing its weighting in the portfolio to 1.46% from 0.98%. BBY YTD mountain Best Buy YTD During our Monthly Meeting last week, we laid out the case as to why we think 2024 is the year that this consumer electronics retailer can finally move past its post-Covid hangover. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer's, Jim Cramer, Jim Organizations: BBY, CNBC
Kirsten Dunst is strict about her children's use of electronics. She told Variety that her sons don't own iPads and that her family isn't allowed to use phones at restaurants. AdvertisementKirsten Dunst is strict about her children's use of electronics and is raising them to lead an analog lifestyle. "We've got record players," Dunst told Variety. This story is available exclusively to Business Insider subscribers.
Persons: Kirsten Dunst, Variety, Dunst, , We've, We're, Siri, Jesse Plemons, Ennis Howard, James Robert Organizations: Service, Variety, Business
The first total solar eclipse in the US since 2017 is sure to be astonishing, weather permitting. The US won't get to experience totality again for 20 yearsThe 2017 total solar eclipse at 100% totality. Advertisement"He said, 'Before you die, you owe it to yourself to see a total solar eclipse,'" Baron recalled Pasachoff saying to him 30 years ago. You might be able to spot it during the total solar eclipse. AdvertisementWatch safelyMake sure to protect your eyes by wearing solar eclipse glasses, or finding alternative ways to watch the eclipse without looking directly at the sun.
Persons: , John Finney, David Baron, he's, Jay Pasachoff, Baron, Pasachoff, Fred Espenak, Eclipse, He's, Espenak, 12P, Pons, Brooks, a.k.a, Everest, humbling, Mohamed Nureldin Abdallah Organizations: Service, Business, US, Great Locations: Texas, Maine, Aruba, — Texas, Oklahoma , Arkansas, Illinois
Boyle said he was on a ship that lost power briefly and his training kicked in. I've never faced any major emergencies while working aboard a cargo ship, aside from a minor fire and an instance where my ship temporarily lost power. Do I need to switch over the steering to emergency steering? I radioed into that other vessel just to inform him that we had lost power but we still had steering. Since we still had steering, the main focus was figuring out why we lost power.
Persons: Bryan Boyle, Boyle, , YouTuber, I've, I'm, Francis Scott Key, It's, we're, you've Organizations: Service, Portland Press Herald, Maersk Locations: Baltimore, North
The Biden administration has encouraged American companies to move electronics and technology manufacturing operations out of China and into friendlier countries, particularly Vietnam and India in Asia-Pacific. Vietnam's head startIndia and Vietnam are attractive manufacturing alternatives for foreign investors and companies, due in part to low labor costs. Import taxes remain highOne hurdle for India's manufacturing hub ambitions is the country's 10% import duty for information and communication technologies. India's import taxes were intended to protect domestic manufacturers, but lowering those duties will be part of the government's efforts to attract foreign firms to manufacture goods within the country. For example, India in January lowered import taxes for certain metal and plastic parts used in manufacturing mobile phones from 15% to 10%.
Persons: Biden, Mukesh Aghi, Samir Kapadia, Narendra Modi's, Aghi, Nari Viswanathan, Viswanathan, Tim Cook, Narendra Modi, Andy Ho, Modi, Kapadia, Pankaj Mahindroo, VinaCapital's Ho, Ho Organizations: Hindustan Times, Getty, Republicans, U.S ., India Strategic Partnership, India Index, Vogel Group, U.S, White House, Washington, Financial Times, Apple, Indian, Google, Dixon Technologies, Samsung, Motorola, India Cellular and Electronics Association, CNBC, corporates Locations: Noida, India, Asia, China, Vietnam, The U.S, U.S, United States, Singapore
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street.
Persons: Jim Cramer, Jeff Marks, Jim, there'd, Jim Cramer's Organizations: CNBC, Nasdaq, Dow, Abbott Laboratories, Palo Alto, Jim Cramer's Charitable Locations: Palo
Japan said Tuesday it has approved up to 590 billion yen ($3.89 billion) in additional subsidies for chipmaker Rapidus Corporation, as the country plays catch up with other nations on semiconductor manufacturing. Rapidus Corporation was founded in 2022 by the Japanese government and eight domestic companies to develop and manufacture advanced semiconductors. Toyota Motor Corporation, Sony Group are among the companies that have invested billions of yen in Rapidus. Rapidus has received 330 billion yen from the Japanese government between 2022 and 2023 to mass produce 2-nanometer chips in Chitose, Hokkaido, from 2027. TSMC and Samsung currently produce 3-nanometer chips, while Rapidus is currently constructing an advanced semiconductor plant in Chitose.
Persons: Rapidus Organizations: chipmaker Rapidus Corporation, Japan's Ministry, Economy, Trade, Industry, Rapidus Corporation, Toyota Motor Corporation, Sony Group, Taiwan Semiconductor Manufacturing Company, South, Samsung Electronics, Samsung, IBM Locations: Japan, Rapidus, Chitose , Hokkaido, Chitose .
CNN —Flame retardants added for decades to thousands of consumer products in the United States may raise the risk of dying from cancer, according to new research. “The new study links PBDEs to deaths from cancer, building a case for the association between flame retardants and cancer mortality being real,” said Trasande, who researches the impact of plastics, flame retardants and other chemicals on children. Flame retardant chemicals also can pass to developing fetuses via the placenta and to newborns through breast milk, past research has found. In some cases, the industry has replaced these chemicals with newer phosphorus-based flame retardants, Trasande said, adding that researchers are now concerned these chemicals may be linked to cancer as well. When reupholstering older couches or chairs, be sure to replace the old foam with flame retardant-free foam.
Persons: Leonardo Trasande, , Trasande, ” Trasande, Tasha Stoiber, EWG Organizations: CNN, National Health, JAMA, NYU Langone Health, US Centers for Disease Control, Manufacturers, US Environmental Protection Agency, CDC, Environmental Locations: United States, PBDEs, New York City
"So Bixby has been a key voice assistants voice assistant for Samsung not just for the mobile devices, but also for TVs and digital appliances that exist in Samsung's ecosystem. So it has been the core voice assistant assistant so far," Won-joon Choi, executive vice president at Samsung's mobile business, told CNBC in an interview last month. Choi did not give a timeline when Bixby may get generative AI features, but said that Samsung is "working so hard" to deliver them. Samsung's focus on the technology comes at a time when investors are scrutinizing what Apple will deliver when it comes to generative AI. Apple announced it would hold its annual developers conference, WWDC, in June, when the company is largely expected to talk up some AI features across its products.
Persons: SeongJoon Cho, Bixby, Samsung's Bixby, joon Choi, Choi Organizations: Samsung Electronics Co, Samsung, Bloomberg, Getty, CNBC, Galaxy, Google, Apple Locations: Seoul, South Korea
Read previewA Bulgarian cruise ship carrying over 140 passengers crashed into a concrete wall along the River Danube in Austria. AdvertisementThe second-in-command of the ship, who had been at the helm during the crash, "pressed the emergency switch, whereupon the electronics started up again." An Austrian police statement indicated the collision was linked to a failure of the ship's electronics. It added: "After checking the ship it turned out that the electronics worked again after the emergency switch was reset, which is why the ship could continue its journey." Jim Watson/AFP/Getty ImagesEarlier this week, a container ship crashed into the Francis Scott Key Bridge in Baltimore, collapsing a section of the 1.6-mile-long structure and killing six construction workers.
Persons: , Dali, Francis Scott Key, Jim Watson Organizations: Service, Business, Getty, Sky News, South Locations: Bulgarian, Austria, Austrian, Aschach, Donau, Passau, Linz, Baltimore, AFP, Hungary, Europe, Central, Southeastern Europe, Black
Hold all traffic on the Key Bridge," the officer said. Police block off an entrance to the Francis Scott Key Bridge in Baltimore, Maryland, on March 29, 2024. "When they made that call, the bridge attendants did a remarkable job of stopping flow of traffic on each end. And that's what truly saved lives. Rescuers pulled two people — and two bodies — from the frigid river after the Francis Scott Key Bridge collapsed.
Persons: , Baltimore's Francis Scott Key, Francis Scott Key, Scott Olson, Kevin Battle, Eric Dawicki, Dawicki, Andy Middleton, Middleton, James Staples, Kevin Dietsch, Philip Schifflin, Michael Campbell, it's, Dali, I've, Campbell Organizations: Police, Service, Baltimore Port Authority police, Rescue, Northeast Maritime Institute, Walmart, Maritime, Port Authority of, Rescuers, Center, Mariner, Seaman's Church Institute, The Telegraph, Massachusetts Maritime Academy, BI Locations: Baltimore, Singapore, that's, Baltimore , Maryland, Patapsco, Portland Harbor, Maine, Port Authority of Singapore, Europe
"Best Buy has partnerships with and contributes to organizations and activists that promote the practice of gender transition surgeries on minors and evangelize gender theory to minors. Why are Best Buy shareholders funding the proliferation of an ideology seeking to mutilate the reproductive organs of children before they finish puberty?" "This contentious and vast disagreement between radical gender theory activists and the general public has nothing to do with Best Buy selling electronics." "Were Best Buy to agree to such a compromise with us, we will not make a splash about it." In an email on Friday, GLAAD, one of the LGBTQ nonprofits mentioned in the SEC filing, expressed its displeasure with Best Buy.
Persons: hasn't, Carly Charlson, NCPPR, , Ethan Peck, Peck, Marina Rizzo, Rizzo, we're, Bud Light, Bud Light's, influencer Dylan Mulvaney, Sarah Kate Ellis Organizations: Securities and Exchange Commission, SEC, National Center for Public Policy Research, Best, HRC, NCPPR's Free Enterprise Institute, SAGE, GLAAD, Rights, PRIDE, NBC, Anheuser, Busch Inbev Locations: States
Hong Kong CNN —Xiaomi formally launched its much-anticipated electric car — the new Speed Ultra 7 (SU7) sedan — on Thursday night in Beijing. “Xiaomi wants to build a ‘dream car’ comparable to Porsche and Tesla,” he said on Weibo Wednesday. On Thursday, Xiaomi announced that prices for SU7 models would range from 215,900 yuan ($29,874) to 299,900 yuan ($41,497). Xiaomi’s SU7 has been on display in showrooms in 29 cities across mainland China since Monday, according to Lei. People look at Xiaomi's first electric vehicle SU7, displayed in a newly opened Xiaomi store in Beijing on March 25, 2024.
Persons: Hong Kong CNN — Xiaomi, Lei Jun, “ Xiaomi, , Xiaomi, SU7, Lei, Tingshu Wang, It’s Organizations: Hong Kong CNN, Porsche, Tesla, Weibo, Counterpoint Research, Reuters, Porsche Taycan, Tesla’s Locations: Hong Kong, Beijing, China, EVs
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. "This was a quarter about earnings and these companies are earning a lot of money," Jim Cramer said. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, Dupont De Nemours, Estee Lauder, Lauder's, we've, Jim, Jim Cramer's Organizations: CNBC, Nvidia, Meta, Dupont De, Bank of America, Management Locations: Wells Fargo, Dupont, U.S
The others were presumed dead, and officials said search efforts had been exhausted. Investigators on Wednesday began collecting evidence from the vessel that struck the Francis Scott Key Bridge the previous day. U.S. Coast Guard Rear Admiral Shannon Gilreath said authorities had been informed that the ship was going to undergo the maintenance. "We were informed that they were going to conduct routine engine maintenance on it while it was in port. Video showed the ship moving at what Maryland's governor said was about 9 mph (15 kph) toward the 1.6-mile (2.6-kilometer) bridge.
Persons: Francis Scott Key, Roland L, Butler Jr, Alejandro Hernandez Fuentes, Dorlian Ronial Castillo Cabrera, Butler, Wes Moore, Shannon Gilreath, Jennifer Homendy, Homendy, Moore, Watson, Pete Buttigieg, Biden, Buttigieg, Gilreath Organizations: Fire, Bloomberg, Getty, U.S . Coast Guard, Maryland State Police, Maryland Gov, . Coast Guard, National Transportation Safety Board, Coast Guard, Homeland Security, Associated Press, Synergy Marine Group, Grace Ocean Private Ltd, White House, Transportation, World Association, Transport Infrastructure Locations: Baltimore, Dali, Patapsco, Baltimore , Maryland, U.S, Maryland, Mexico, Guatemala, Dundalk , Maryland, Honduras, El Salvador, Sri Lanka, Singapore, Port, Germany, Japan, United Kingdom, Windward, Annapolis
The oversupply of Chinese goods in key industries is stoking tensions between the world’s biggest manufacturer and its major trading partners, including the United States and the European Union. From clothes to carsChina’s exports of low-priced goods got a boost after it joined the World Trade Organization (WTO) in 2001. “What China exports is advanced production capacity that meets the needs of foreign customers,” Xinhua News Agency wrote. US President Joe Biden recently pledged to investigate whether imports of Chinese vehicles pose a national security threat. “But perhaps more importantly, persistent oversupply and low prices of Chinese goods will add to geopolitical tensions and keep the threat of tariffs and counter-tariffs alive,” she wrote in a recent note.
Persons: Hong Kong CNN —, ” Jens Eskelund, Xi Jinping, Huang Jingwen, ” Eskelund, Brad W, ” Markus W, Voigt, China’s BYD, Warren Buffett, Setser, Li Qiang, , , Joe Biden, Jennifer McKeown, Shawn Deng Organizations: Hong Kong CNN, European Union, European Union Chamber of Commerce, Zero, of, People, China’s National Bureau of Statistics, Council, Foreign Relations, World Trade Organization, Aream Group, Tesla, Getty, China Development Forum, Xinhua, Agency, ., EV, European Commission, WTO, Capital Economics Locations: Hong Kong, United States, China, Europe, Beijing, Xinhua, China's Shandong, . Washington, Brussels
U.S. President Joe Biden speaks about on the ongoing response to the Key Bridge collapse in Baltimore, Maryland, during brief remarks prior to departing the White House in Washington, U.S., March 26, 2024. Wes Moore warned Thursday of a "very long road ahead" to recover from the loss of Baltimore's Francis Scott Key Bridge as the Biden administration approved $60 million in immediate federal aid after the deadly collapse. President Joe Biden has pledged the federal government would pay the full cost of rebuilding the bridge. The devastation at the site of the collapse, which happened when the powerless cargo ship struck a pillar supporting the bridge early Tuesday, is extensive. Investigators shared a preliminary timeline of events before the crash, which federal and state officials have said appeared to be an accident.
Persons: Joe Biden, Wes Moore, Baltimore's Francis Scott Key, Biden, Moore, Roland L, Butler Jr, Dali, Investigators Organizations: White, Maryland Gov, Democrat, U.S . Coast Guard, Divers, Maryland State Police, National Transportation Safety Locations: Baltimore , Maryland, Washington , U.S, U.S, Maryland
In the wake of Nvidia 's launch of powerful new artificial intelligence chips, Goldman Sachs is predicting major growth for memory chips used in AI systems. Called Blackwell, the new GPU chips from Nvidia that power AI models require the latest third-generation memory chips, also known as high-bandwidth memory (HBM/HBM3E). The investment bank expects the total addressable market for HBM to expand tenfold to $23 billion by 2026, up from just $2.3 billion in 2022. The Wall Street bank sees three major memory makers as prime beneficiaries of the booming HBM market: SK Hynix , Samsung Electronics and Micron . Investors have been cautious about the memory market for AI systems since all three major suppliers are due to expand manufacturing capacity and add downward pressure on profit margins.
Persons: Goldman Sachs, Blackwell, Giuni Lee, Goldman, Peter Lee, Jensen Huang, — CNBC's Michael Bloom Organizations: Nvidia, HBM, SK Hynix, Samsung Electronics, Micron, Investors, Intelligence, Innovation Fund, MU, Goldman, Citi Locations: U.S, Germany
BEIJING (AP) — Xiaomi, a well-known maker of smart consumer electronics in China, is joining the country's booming but crowded market for electric cars. The tech company will start taking orders for the SU7, a sporty four-door sedan, following a launch event with founder Lei Jun in Beijing on Thursday evening. Government subsides have helped make China the world's largest market for electric vehicles, and a bevy of new makers are locked in fierce competition. "I believe that one day, Xiaomi EVs will be a familiar sight on roads around the world,” he was quoted as saying in a company news release. “China is determined to dominate the future of the auto market, including by using unfair practices,” President Joe Biden said when the U.S. investigation was announced.
Persons: , Lei Jun, Lei, Xiaomi, Le, , automaking, , ” Le, Joe Biden, I’m Organizations: BEIJING, Analysts, Fitch, Sino, Insights, EU, U.S, Trade Organization, U.S . Defense Department, U.S . Locations: China, Beijing, American, U.S
The Dali Is a Big Ship. But Not the Biggest.
  + stars: | 2024-03-28 | by ( Ella Koeze | ) www.nytimes.com   time to read: +4 min
Empire State Building Approximate width 1,454 feet long MSC Irina Biggest container ship in the world 200 feet wide 24,346 containers 1,312 feet Ever Max Biggest container ship to sail into Baltimore 167 feet 15,432 containers 1,201 feet Eiffel Tower 410 feet 1,083 feet Dali 157 feet 9,971 containers 984 feet Container ship of the 1970s ~2,500 containers 66 feet 705 feet Football field Shapes are approximate. 160 feet 360 feet Empire State Building Approximate width 1,454 feet long MSC Irina Biggest container ship in the world 24,346 containers 200 feet wide 1,312 feet Ever Max Biggest container ship to sail in the Port of Baltimore 15,432 containers 167 feet 1,201 feet Eiffel Tower 410 feet 1,083 feet Dali 157 feet 9,971 containers 984 feet Container ship of the 1970s ~2,500 containers 66 feet 705 feet Football field Shapes are approximate. 160 feet 360 feet 1,454 ft. 1,312 ft. 1,201 ft. 1,083 ft. 984 ft. 24,346 containers 705 ft. 15,432 containers 9,971 containers ~2,500 containers 360 ft. 66 ft. 200 ft. 167 ft. 410 ft. 157 ft. 160 ft. Approximate width Empire State Building MSC Irina Biggest container ship in the world Ever Max Biggest container ship to sail into Baltimore Eiffel Tower Dali Container ship of the 1970s Football field Sources: “The Geography of Transport Systems,” by Jean-Paul Rodrigue; VesselFinder; the Empire State Building; the Eiffel Tower; ShipHub; Maryland Port Administration Note: Widths shown are for the widest point for each ship.
Persons: Dali, Jean, Paul Rodrigue, Francis Scott Key, Theo Notteboom, Athanasios Pallis, , Rodrigue, Organizations: ., Eiffel, Transport Systems, Empire, Francis Scott Key Bridge, Container, Port Economics, Management, Eastern Seaboard, Texas, M University, Galveston, Baltimore . Locations: Baltimore, Port, ShipHub, Maryland, Panama, Eastern U.S, Suez
We are initiating a position in Best Buy, buying 400 shares at $82.30 each. Consumer electronics historically needed to be upgraded and replaced every three to seven years, meaning many of the products that were purchased in the Covid era will need to be replaced soon. They point out that Best Buy is one of the last broad-line and hard-line retail stocks in its coverage that experienced a Covid pull-forward that hasn't returned to its historical valuation. Lastly, Best Buy sports an attractive dividend yield of about 4.65%. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Persons: Jim Cramer's, Bose, hasn't, Jim Cramer, Jim Organizations: Consumer, Management, Microsoft, Electronics, Telsey Advisory, JPMorgan, Federal Reserve, CNBC Locations: Vegas
Here's a rapid-fire update on all 33 stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. Amazon's recent AI moves have been impressive, specifically its close relationship with fellow Club holding Nvidia and, most recently, its multibillion-dollar venture investment in startup Anthropic. Best Buy : We added the electronics and appliance retailer to the portfolio shortly after the Monthly Meeting concluded. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
Persons: Jim Cramer's, Jim, Jim Cramer, Reckitt Benckiser, Abbott, We've, Here's, Salesforce, that's, Walt Disney, Nelson Peltz, Estee Lauder, he'd, Ford, We're, we'll, Vimal Kapur, Kapur, Linde, Eli Lilly, TikTok, Meta's Ray, Morgan Stanley, Reddit, Morgan, Ted Pick, he's, it's, Stanley Black, Decker, TJ Maxx, Wells, Wynn, Spencer Platt Organizations: Jim Cramer's Charitable Trust, CNBC, Club, Department of Justice, Abbott Laboratories, Nvidia, Broadcom, Investors, Bausch Health, Pharmaceuticals, Costco Wholesale, Costco, GTC, Coterra, DuPont De Nemours, DuPont, stoke, Peltz, Disney, Eaton Corporation, Ford, General Motors, Wall, GE Healthcare Technologies, General Electric, Apple, Google, Bloomberg, . Honeywell, Honeywell, UBS, Meta, Microsoft, Palo Alto Networks, Palo Alto, Procter & Gamble, Starbucks, Constellation Brands, Stanley, TJX, Marshalls, Wynn Resorts, Jim Cramer's Charitable, Traders, New York Stock Exchange, Getty Locations: China, Costco, U.S, East, Mexican, Growth, HomeGoods, Wells Fargo, Macao
As pale morning light flickered across the Seine, Capt. Freddy Badar steered his hulking river barge, Le Bosphore, past picturesque Normandy villages and snow-fringed woodlands, setting a course for Paris. Onboard were containers packed with furniture, electronics and clothing loaded the night before from a cargo ship that had docked in Le Havre, the seaport in northern France. Using Le Bosphore and its crew of four prevented tons of carbon emissions from entering the atmosphere. “The river is part of a wider solution for cleaner transport and the environment,” Captain Badar said, his eyes scanning other vessels carrying wares up and down the Seine.
Persons: Freddy Badar, Le Bosphore, Captain Badar Locations: Normandy, Paris, Le Havre, France, European
On Thursday, Xiaomi will officially launch the SU7 electric vehicle and begin taking orders. Xiaomi CEO Lei Jun on Monday teased the price of the Chinese firm's first electric vehicle ahead of its official launch this week. Xiaomi Group President Weibing Lu told CNBC previously that the company is targeting the premium segment of the electric car market. The EV market is in the midst of a price war which was sparked by Tesla at the end of 2022. "Three years ago, I announced that Xiaomi was going to enter the EV market.
Persons: Xiaomi, Lei, Lei Jun, Weibing Lu, Li Auto, Tesla Organizations: Weibo, Xiaomi, CNBC, stoke, EV Locations: Hefei, Anhui Province, China, Xiaomi
CNN —Shares of Fisker, a California-based electric vehicle startup, were halted Monday. Its sole product, the Fisker Ocean electric SUV, was produced in Austria under contract by third-party manufacturer Magna Steyr. Last year, 10,000 SUVs were produced but, in its earnings report, the company said only about half had been delivered to customers. The 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. But, besides its own quality issues, Fisker had to deal with much greater competition from established automakers than had existed when the company was established.
Persons: Fisker’s, Fisker, Henrik Fisker, Marques Brownlee, Organizations: CNN, Reuters, Nissan, Magna Steyr, Mercedes, BMW, EV, American YouTube, Consumer, Automotive News, Hyundai, Kia, Ford, General Motors Locations: California, Alaska, Austria, Ohio, American
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