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Video of the interaction shows Biden glad-handing with people inside the firehouse, including a man in a Trump hat. As a gesture, he gave a hat to a Trump supporter who then said that in the same spirit, POTUS should put on his Trump cap. From Trump War Room/XBiden signs the presidential hat and tells the man he needs his Trump cap. Biden walks away, still holding the Trump hat. In fact, I was going to send her a MAGA hat,” Trump said.
Persons: Joe Biden, Biden, ” Biden, , Trump, Andrew Bates, “ I’m, Donald Trump, Sen, JD Vance, ” Trump’s, Kamala Harris, Harris, MAGA, ” Trump Organizations: CNN, Wednesday, Trump, Co, Republican Locations: Shanksville , Pennsylvania, Ohio, Manhattan, Philadelphia
Mary Barra, chair and CEO of General Motors, and Euisun Chung, executive chair of Hyundai Motor Group, during the signing of an agreement between the two companies to explore future collaboration across key strategic areas. DETROIT — General Motors and Hyundai Motor have entered into an agreement to explore "future collaboration across key strategic areas" in an effort to reduce capital spending and increase efficiencies, the companies announced Thursday. The automakers' potential areas of interest include co-development and production of passenger and commercial vehicles, internal combustion engines, and clean-energy, electric and hydrogen technologies, they said in a joint press release. The automakers also said they will "review opportunities for combined sourcing in areas such as battery raw materials, steel and other areas." The framework agreement was signed by Hyundai Motor Group Executive Chair Euisun Chung and GM Chair and CEO Mary Barra, the companies said.
Persons: Mary Barra, Euisun Chung Organizations: General Motors, Hyundai Motor, DETROIT —, Motors, Hyundai, Hyundai Motor Group Locations: DETROIT
David Dee Delgado | ReutersDETROIT – Stellantis ' U.S. dealer network has joined the United Auto Workers union in criticizing CEO Carlos Tavares for the company's recent sales declines, factory production cuts and other decisions they deem detrimental to the automaker's business. "The market share of your brands has been slashed nearly in half, Stellantis stock price is tumbling, plants are closing, layoffs are rampant, and key executives fleeing the company. We will continue to work with our dealers to avoid any public disputes that will delay our ability to deliver results." Stellantis reported a record profit in 2023, but so far this year, the automaker reported a first-half net profit of 5.6 billion euros ($6.07 billion), down 48% from the same period of 2023. It's part of his "Dare Forward 2030" plan to increase profits and double revenue to 300 billion euros ($325 billion) by 2030.
Persons: Carlos Tavares, David Dee Delgado, Tavares, Kevin Farrish, Farrish, Ford Stellantis, Stellantis, Shawn Fain, Kamala Harris, Tim Walz, Rebecca Cook Organizations: New York, Auto, Reuters DETROIT, United Auto Workers, Chrysler, Dodge, Investor, Bloomberg, Stellantis, GM, Fiat Chrysler, France's PSA Groupe, UAW, U.S, Democratic Locations: Manhattan , New York, U.S, Virginia, Romulus , Michigan
The vice president had prepared extensively for their debate, and peppered nearly every answer with a comment designed to enrage the former president. Here are some takeaways from the debate:A turning point when Harris jabs Trump over the size of his rally crowds: Harris came onstage with a clear plan: Throw Trump off his game. When the vice president mentioned Trump’s criminal conviction and outstanding legal issues, he bit. Trump indulges in conspiracy theories: Despite signals from even his running mate, Trump did not refrain from repeating the conspiracy theory du jour during the debate. He said at one point that “in Springfield, they’re eating the dogs.
Persons: Kamala Harris, Donald Trump, Trump, Harris, Trump’s, Biden, , David Muir, “ We’ll, Muir, Joe Biden, Roe, Wade, Read Organizations: ABC Locations: Haiti, Springfield , Ohio, Springfield, United States, Harris
All four were in New York on Wednesday for a commemoration event at Ground Zero in Manhattan. Harris and Biden then traveled to Shanksville, Pennsylvania, to participate in a wreath-laying ceremony at the Flight 93 memorial. At that ceremony, Biden placed his hand on the wreath as the small group he was with bowed their heads. During that ceremony, the president falsely claimed he visited Ground Zero “the next day” after the attacks. In 2016, both Trump and Hillary Clinton attended memorial events marking the 15th anniversary of 9/11 at Ground Zero.
Persons: Joe Biden, Kamala Harris, Donald Trump, Sen, JD Vance, Harris, Vance, Biden, Trump, Tim Walz, Jill Biden, Barack Obama, Michelle Obama, Adam Gray, Trump –, , Mike Pence, Hillary Clinton, Clinton, Mitt Romney, Obama, Romney, , John McCain, CNN’s Kit Maher, Betsy Klein Organizations: CNN, Trump, Pictures, Minnesota Gov, Democratic, World Trade Center, Pentagon, World Trade, Getty, New Yorker, Republican Locations: New York, Manhattan, Shanksville , Pennsylvania, Arlington , Virginia, Lower Manhattan, Pennsylvania, Alaska, York, New York City, AFP, New, Shanksville, Nevada
Sen. JD Vance introduces former President Donald Trump during a rally at Herb Brooks National Hockey Center on July 27 in St. Stephen Maturen/Getty ImagesFormer President Donald Trump and Republican vice presidential nominee Sen. JD Vance continue to falsely describe how one of their major policy proposals, across-the-board tariffs, would work. Trump has falsely, and repeatedly, claimed that China – not US importers – pays the tariff. “It’s fair to call a tariff a tax because that’s exactly what it is,” said Erica York, a senior economist at the right-leaning Tax Foundation. He also said he would impose a “100% tariff” on countries that shift away from using the US dollar.
Persons: Sen, JD Vance, Donald Trump, Stephen Maturen, Trump, , Kamala Harris, ” Trump, ” Vance, , Erica York, , Joe Biden Organizations: Herb Brooks National Hockey Center, Republican, Democratic, Fox News, Trump, Tax, US, US International Trade Commission Locations: St, Cloud , Minnesota, China, Arizona
CNN —President Joe Biden on Tuesday described the killing of a 26-year-old American activist in the Israeli-occupied West Bank last week as an apparent accident, backing the Israel government’s description. Israel has claimed that Aysenur Ezgi Eygi was “hit indirectly and unintentionally by IDF fire” on Friday. “We’re finding more detail,” Biden told reporters on the South Lawn of the White House Tuesday. “No one, no one should be shot and killed for attending a protest. “Now we have the second American citizen killed at the hands of Israeli security forces.
Persons: Joe Biden, Eygi, Biden, , ” Biden, Israel, Antony Blinken, , It’s, Rachel Corrie Organizations: CNN, West Bank, American, IDF, International Solidarity Movement, University of Washington, Palestinian Ministry of Health Locations: Israel, Turkey, Gaza, East Jerusalem, Ramallah
Fact check: Donald Trump, Kamala Harris debate on ABC News
  + stars: | 2024-09-10 | by ( Cnn Staff | ) edition.cnn.com   time to read: +18 min
CNN —Former President Donald Trump and Vice President Kamala Harris are facing off for the first time Tuesday during ABC’s presidential debate. “I had no inflation, virtually no inflation,” Trump said. Harris introduced herself by name and said, “Let’s have a good debate.” Trump responded: “Nice to see you. Have fun.” Saul Loeb/AFP/Getty Images Trump and Harris stand on stage at the start of the debate. “But understand if Donald Trump were to be elected, he will sign a national abortion ban.
Persons: Donald Trump, Kamala Harris, Harris, Donald Trump’s, Trump, Katie Lobosco, MAGA, , ” Trump, Daniel Dale, Tami Luhby, Chip Somodevilla, he’s, FactCheck.org, Steven Cheung, Cheung, Kaanita Iyer Trump, Joe Biden, , gotaways, Michelle Mittelstadt, Piper Hudspeth Blackburn, David Muir, Linsey Davis, Michael Le Brecht, Alex Brandon, Doug Mills, Pat Tuttle, George Walker IV, Saul Loeb, Tristen Rouse, CNN Harris, Win McNamee, Sheena Carey, Morry Gash, Matthew Hatcher, ” Saul Loeb, Roberto Schmidt, Andrew Thomas, Robert F, Kennedy Jr, Kennedy, Jim Lo Scalzo, Anthony Scaramucci, Olivia Troye, Matt Rourke, Hannah Beier, Lilly, Evelyn Hockstein, Matt Slocum, Kenny Holston, ” Harris, Noah Weinrich, Kaanita Iyer, Feedback Trump, John Roberts, Devan Cole Trump, Sen, JD Vance, ” Vance, Michael Williams Trump, United States –, Katie Lobosco Harris, , Mike Pence, Rather, “ Joe Biden, Ella Nilsen Trump, Elisabeth Buchwald Organizations: CNN, Trump, Center for American Progress, Fund, CAP, Peterson Institute for International Economics, Center, CNN Trump, Breitbart News, Border Patrol, Biden, Patrol, Republicans, Migration, Institute, ABC News Trump, National Constitution Center, New York Times, Bloomberg, Getty Images, Getty, Pennsylvania Convention Center, People, Philadelphia International Airport, AFP, Philadelphia City Hall, Former Trump, Reuters, ABC, Force, Democratic, Convention, Leadership, Heritage, United States Supreme, White, City, Springfield News, Sun, Springfield Police, United States, US International Trade Commission, Treasury, Consumer, Bureau of Labor Statistics Locations: Pennsylvania, Philadelphia, United Kingdom, Venezuela, United States, Nashville , Tennessee, Washington ,, Washington , DC, Milwaukee, AFP, Springfield , Ohio, , Springfield, City, China, American
GM declined to discuss details of the spending, including how much of that amount is specifically tied to NFL advertising, but reiterated it remains significantly lower than historic levels. “The impact of the NFL on the automotive advertising industry is really very, very substantial,” said Alberto Leyes, head of product strategy at Guideline. Guideline reports viewership of NFL broadcasts grew about 7% over the past season, whereas ad spend in NFL programming doubled that pace at 14%. Automotive ad spend increased 17% over the past two seasons and is expected to increase again this year, according to Leyes. Stellantis is expected to soon launch new ads for the NFL season, including around its Jeep brand, but a spokeswoman declined to provide additional details.
Persons: , Ryan Briganti, Alberto Leyes, “ We’ve, we’ve, ” Leyes, Andrew Messina, Messina, Mark Marshall, Jenny Wall, Dedra DeLilli, That’s, ” DeLilli, , DeLilli, Stellantis, Randy Parker, NBCUniversal Organizations: National Football League, Toyota Motor Corporation, Hyundai Motor Company, Detroit, NFL, Toyota, CBS Sports, CBS, Paramount, General Motors, GM, Nielsen, Disney, ESPN, Disney Advertising, Hyundai, Mercedes, Benz, Nissan Motor, Chrysler, Brands, Sunday, NBC, Automotive, Toyota North, Olympics, Hyundai Motor America, CNBC, Comcast, NBC Sports, NBC Olympics, Games Locations: Messina, U.S, Toyota North America, Paris
Former President Donald Trump and Republican vice presidential nominee Sen. JD Vance continue to falsely describe how one of their major policy proposals, across-the-board tariffs, would work. Trump has falsely, and repeatedly, claimed that China – not US importers – pays the tariff. A tariff is a tax that is paid by US businesses – not other countries – when a foreign-made good arrives at the American border. “It’s fair to call a tariff a tax because that’s exactly what it is,” said Erica York, a senior economist at the right-leaning Tax Foundation. He also said he would impose a “100% tariff” on countries that shift away from using the US dollar.
Persons: Donald Trump, Sen, JD Vance, Trump, , Kamala Harris, ” Trump, ” Vance, , Erica York, , Joe Biden Organizations: Republican, Democratic, Fox News, Trump, Tax, US, US International Trade Commission Locations: China, Arizona
CNN —Several prominent Republicans, including the party’s vice presidential nominee Sen. JD Vance, promoted false claims on Monday that Haitian migrants in Ohio are killing and eating family pets. Those rumors were picked up by conservative media and then spread on X, where they gained widespread traction on Monday. “President Trump will deport migrants who eat pets,” a Trump campaign account posted to X. Make your choice, America.”Texas Sen. Ted Cruz posted a meme showing two kittens embracing. They spread widely on X, whose owner, Elon Musk, has embraced the false rumors and posted several memes that promoted them.
Persons: Sen, JD Vance, Kamala Harris, Trump, “ Kamala Harris, Texas Sen, Ted Cruz, don’t, ” Vance, Elon Musk, Sheila Cherfilus, McCormick, Vance, Cruz, , Cherfilus, , JD, ” Spokespeople, Harris, Black, “ That’s, who’s, CNN’s Aaron Pellish, Kit Maher Organizations: CNN, Springfield Facebook, Springfield News, , Trump, Republican Party, City, Democratic, Biden, Republican Locations: Ohio, Springfield, Caribbean, Haitian, Texas, Canton , Ohio, Haitian American, South Florida, Cuban, Springfield ”, stoke, Florida
GM declined to discuss details of the spending, including how much of that amount is specifically tied to NFL advertising, but reiterated it remains significantly lower than historic levels. Last NFL season, automakers were the most-seen brand industry, with more than 10% of TV ad impressions, according to ad data company iSpot. Guideline reports viewership of NFL broadcasts grew about 7% over the past season, whereas ad spend in NFL programming doubled that pace at 14%. Automotive ad spend increased 17% over the past two seasons and is expected to increase again this year, according to Leyes. New ad campaignsToyota, as the "Official Automotive Partner of the NFL," launched a new ad campaign for the NFL season this week called "Roll Deep."
Persons: Ryan Briganti, Alberto Leyes, we've, Leyes, Andrew Messina, Messina, Mark Marshall, Jenny Wall Organizations: NFL, National Football League, Toyota Motor Corporation, Hyundai Motor Company, Detroit, Toyota, CBS Sports, CBS, Paramount, General Motors, GM, Nielsen, Disney, ESPN, Disney Advertising, Hyundai, Mercedes, Benz, Nissan Motor, Chrysler, Brands, NBC, Automotive, Baltimore Ravens, Kansas City Chiefs Locations: Messina, U.S
There are currently a handful of electric trucks for purchase in the U.S. market: the Tesla Cybertruck, Ford F-150 Lightning, Rivian R1T and General Motors' GMC Hummer EV, GMC Sierra Denali and Chevrolet Silverado. The GMC Hummer and Rivian also have SUV versions, which feature similar functions as their pickup counterparts but in different forms. The SUV version is smaller and more manageable to drive than the pickup truck version. When the F-150 Lightning hit the market, it was the first "mainstream" electric truck. An electric Ford F-150 next to a Tesla Cybertruck in front of Ford's world headquarters on Aug. 27, 2024 in Dearborn, Mich. Michael Wayland / CNBC
Persons: Michael Wayland, CNBC DETROIT – Tesla, Stephanie Brinley, it's, Stephanie Valdez Streaty, Tesla, Ford, Rivian R1T, Rivian, Kelley, Sierra EVs Organizations: GMC, Denali, Tesla, Ford, CNBC DETROIT, Motors, Rivian Automotive, P Global Mobility, Cox Automotive, General Motors, GMC Hummer EV, GMC Sierra Denali, Chevrolet Silverado, Motor Intelligence, Renaissance Center, CNBC, GM, U.S . Environmental Protection Agency, Cruise, Silverado, GMC Sierra GM's, DC, Chevrolet, Sierra Locations: U.S, Detroit, Dearborn, Mich
A Ford Raptor pickup truck is displayed for sale at a Ford dealership on August 21, 2024 in Glendale, California. DETROIT — Ford Motor's U.S. vehicle sales jumped 13.4% last month, led by increases in the company's F-Series trucks and hybrid models. The Detroit automaker reported sales Thursday of nearly 183,000 vehicles in August, including a 12.3% increase in trucks and a roughly 50% jump in hybrid vehicles compared with a year earlier. Its all-electric vehicle sales jumped 29% during that time, including a notable rise in its F-150 Lightning pickup. Ford's August sales outpaced overall industry estimates of a roughly 6% year-over-year increase from a year earlier, according to Barclays.
Persons: DETROIT — Organizations: Ford, DETROIT — Ford Motor's U.S, Detroit, Barclays Locations: Glendale , California, DETROIT
In this article TSLA Follow your favorite stocks CREATE FREE ACCOUNTA Tesla Cybertruck in front of a graffiti mural on Aug. 28, 2024 in Detroit. Those were all words used to describe the Tesla Cybertruck during a 24-hour rental of the vehicle in metropolitan Detroit. Fronts of the Ford F-150 Lightning, Tesla Cybertruck and GMC Sierra Denali EVs (left to right). The Tesla Cybertruck is unveiled at Tesla's design studio on Nov. 21, 2019, in Hawthorne, Calif. A Tesla Cybertruck in front of a graffiti mural on Aug. 28, 2024 in Detroit.
Persons: Tesla, Michael Wayland, It's, Terry Woychowski, Elon Musk Organizations: CNBC, Ford, Chevrolet, Tesla, GMC Sierra Denali, YouTube, General Motors, Ford Motor, Rivian Automotive, Hummer, Renaissance Center, Tech, GMC, Caresoft, GMC Hummer, GM Locations: Detroit, Chevrolet El, Hawthorne , Calif
DETROIT – General Motors is folding its all-electric BrightDrop commercial vans into the Chevrolet brand in an attempt to increase sales, accessibility and recognition of the vehicles. It helps our customers that choose to go into EVs to easily do so working with the Chevrolet dealer they know and trust now for their other fleet needs." The number of new dealers will be based on the amount that decide to opt in to selling and servicing the vans. To sell commercial EVs, dealers must have specific vehicle lifts, service bays and employee training, among other things. GM declined to disclose the average cost for a dealer to become certified to sell the BrightDrop products, citing expenses will vary based on the store.
Persons: Sandor Piszar, It's Organizations: DETROIT, Motors, Chevrolet, GM, CNBC Locations: U.S, North America, EVs
At 57, I'm still working as the principal of my own public relations and digital communications firm while my husband, Michael, is retired. AdvertisementI love my work and enjoy mentoring young peopleI really enjoy the work I do in my business and giving back to young people through mentorship, which I do through my business and outside it. Though he retired five years ago, I've only recently gotten better at communicating with him about my work schedule, so it takes time. Instead of assuming he knows I'm working, I'll go into a quiet room and close the door. When Michael first retired , I fell into the trap of thinking, "Oh, you're retired, of course, you'll do certain tasks instead of saying I'm working, would you be willing to run this errand?"
Persons: Ruth Furman, I'm, Michael, I've, we've Organizations: Service, ImageWords Communications, Security, Business Locations: Las Vegas, Chicago, Indiana
So it might surprise investors that the automaker believes its new path to profitability for electric vehicles will first be led by smaller, more affordable vehicles. “We’re quite convinced that the highest adoption rates for electric vehicles will be in the affordable segment on the lower size-end of the range,” he told CNBC on Thursday. Gjaja’s comments came a day after the automaker announced updates to its EV strategy that will cost up to $1.9 billion. Gjaja said the decision wasn’t taken lightly, especially the cancellation of the upcoming three-row vehicle, which Ford CEO Jim Farley and other executives had been touting as a game changer for several years. He said the Ford, in part, developed the skunkworks team to prove that Ford can compete against the Chinese automakers.
Persons: Marin Gjaja, We’re, , Warren Buffett, Gjaja, Jim Farley, ” Farley, Ford, ” BofA’s John Murphy, John Lawler, Lawler, ” Gjaja, ” There’s, we’ve, ” Ford, Thursday, Organizations: DETROIT, Ford, CNBC, North America, EV, , ICE, Wall Street, GM, General Motors Locations: U.S, Europe, North, California, China,
The new penthouse owner arrived at the stately Galleria building in Manhattan practically unnoticed, as if standing on a dark stage just before the curtain is raised. “I think I heard it from my neighbor, who heard it from the concierge,” said Emma Ruth Yulo-Kitiyakara, 78, a former resident in the building. David Copperfield was moving in. Years later, the building’s residents would be well aware — painfully aware — of the world-famous magician’s sprawling, four-floor penthouse apartment. It seemed to transform before their eyes from a showpiece of great wealth to an embarrassing eyesore to a leaky health hazard.
Persons: , Emma Ruth Yulo, David Copperfield Locations: Manhattan,
In this article F Follow your favorite stocks CREATE FREE ACCOUNTA banner advertises the Ford Mustang Mach-E electric vehicle at a Ford dealership on August 21, 2024 in Glendale, California. So it might surprise investors that the automaker believes its new path to profitability for electric vehicles will first be led by smaller, more affordable vehicles. "We're quite convinced that the highest adoption rates for electric vehicles will be in the affordable segment on the lower size-end of the range," he told CNBC on Thursday. Gjaja's comments come a day after the automaker announced updates to its EV strategy that will cost up to $1.9 billion. He said the Ford, in part, developed the "skunkworks" team to prove that Ford can compete against the Chinese automakers.
Persons: Mario Tama, Marin Gjaja, Warren Buffett, Gjaja, Jim Farley, Farley, Ford, BofA's John Murphy, John Lawler, Lawler, There's, we've, Michael Wayland Organizations: Ford, Getty, DETROIT, CNBC, North America, EV, Wall Street, GM, General Motors Locations: Glendale , California, U.S, Europe, North, California, China
Read previewShould Taylor Swift sue Donald Trump or just shake it off? "Swift could sue Trump and those who misappropriated her likeness by creating AI-generated images," Neama Rahmani, the president and a cofounder of West Coast Trial Lawyers, said. "So I wouldn't be surprised if they send the Trump campaign a cease-and-desist letter at a minimum," Rahmani said. Firmly in the "sue Trump" camp is James Walker Jr., a veteran entertainment attorney from Atlanta who reps the estate of Isaac Hayes. Swift would need to prove that the Trump campaign sent these images out with intent to deceive voters."
Persons: , Taylor Swift, Donald Trump, Trump, Swift, Taylor, deepfakes, Scarlett Johansson, lawyered, Rahmani, Harry Surden, Surden, Harris, James Walker Jr, Isaac Hayes, Walker, Aretha Franklin, I've, Paul Michael Wilson, Wilson, Jessica Litman, Litman, Mark Bartholomew, Bartholomew, Juan Perla, Curtis, Mallet, Prevost, Perla, Celine Dion, Vance, Johansson Organizations: Service, Business, Trump, West, Trial, University of Colorado, Biden, Walker & Associates, University of Michigan, University at Buffalo, ELVIS, Colt Locations: University of Colorado Boulder, Atlanta, Hayes, Tennessee, York
2025 GMC Terrain Elevation GMDETROIT — General Motors on Monday revealed redesigned versions of its entry-level GMC Terrain crossover, including a new standard "Elevation" model. It also has a new interior with 26 inches of screens, including a 15-inch center touchscreen and an 11-inch driver information cluster. 2025 GMC Terrain GMWith the increase in standard features, GM also is simplifying the model lineup for the Terrain, combining its "SLE" and "SLT" entry-level trims into Elevation. GM declined to disclose pricing for the redesigned Terrain, which is expected to begin arriving in GMC showrooms late this year. 2025-2026 GMC Terrain GM
Organizations: DETROIT —, Motors, Apple, Android, GMC, GM
Morgan Stanley's preference for defensive quality stocks has only increased since June, even as major U.S. indexes have continued to reach new highs. Wilson highlighted his stock screen of quality and defensive names, which are long ideas with overweight ratings from the firm's analysts that are also in the top 1,000 universe by market cap. Take a look at some of Morgan Stanley's favorite names below: AbbVie made the cut as one of the firm's top quality and defensive stocks. Analysts surveyed by FactSet have a price target on AbbVie shares that suggest just 3.2% upside from its latest close. Other Morgan Stanley defensive and quality favorites include consumer discretionary names Walmart and Lowe's .
Persons: Morgan, Michael Wilson, Wilson, Morgan Stanley's, AbbVie, Northrop Grumman, Morgan Stanley, Kristine Liwag, Brian Nowak, Meta Organizations: Public Service Enterprise Group, Northrop Grumman, Federal, Aerospace, U.S, Walmart
DETROIT — Automaker Stellantis plans to indefinitely lay off up to 2,450 U.S. factory workers later this year as it discontinues production of an older version of its Ram 1500 pickup truck in Michigan. It is produced alongside the Jeep Wagoneer and Grand Wagoneer at the Warren Truck Assembly Plant, located near Detroit. The current Ram 1500, which was recently updated for the 2025 model year, is produced at a nearby plant. “With the introduction of the new Ram 1500, production of the Ram 1500 Classic at the Warren [Michigan] Truck Assembly Plant will come to an end later this year,” the company said in an emailed statement. The discontinuation of the Ram 1500 “Classic” vehicle is not unexpected, but the company has not announced a vehicle to replace the truck.
Persons: Ram, Chris Feuell, Carlos Tavares Organizations: DETROIT, Warren, Assembly, United Auto Workers union, CNBC, Fiat Chrysler, France’s PSA Groupe Locations: Michigan, Detroit, Warren
Rivian Automotive beat Wall Street's top- and bottom-line expectations for the second quarter as the electric vehicle maker continues to take costs out of its business. Through the first six months of the year Rivian produced about 23,600 vehicles, including only 9,162 during the second quarter due to downtime at the company's plant to retool and reduce costs. Shares of Rivian are off 37% this year amid slower-than-expected demand for EVs as well as Rivian's significant cash burn. Rivian's expenditures through the first half of the year were $537 million, including $283 million during the second quarter. Rivian ended the second quarter with $9.18 billion in total liquidity, including $7.87 billion in cash, cash equivalents and short-term investments.
Persons: Rivian, RJ Scaringe Organizations: Rivian Automotive, LSEG, Volkswagen
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