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☆ Three China stocks that analysts are watching for longer-term opportunities
▼ + stars: | 2024-11-10 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

For many, the reaction among investors only reinforced the need to look at longer-term opportunities in individual stocks that haven't changed. About half of Xpeng's 20,000-plus deliveries in each of the past two months have come from its lower-priced Mona M03 car. In the consumer sector, Macquarie's top pick is Yum China , which operates Pizza Hut and KFC in China. Yum China on Nov. 4 reported third-quarter earnings, showing operating profit grew by 15% year-on-year to $371 million. "You have to be very willing to suffer the negative sentiment to invest in China," Ren said.

Persons: Donald Trump, Shanghair, Liqian Ren, Ren doesn't, Ren, Anta, Fila, CNBC's Michael Bloom Organizations: Finance, U.S, CSI, Adidas, Fila, Baidu, Macquarie, KFC Locations: China, Hong Kong, WisdomTree, U.S

Analyst Dan Dolev also increased his price target on shares to $31 from $17, suggesting shares could gain 19% from Tuesday's close. It also cut its price target to $24 from $38, implying downside of 16.7%. To be sure, he trimmed his price target to 21 euros from 24 euros. Analyst Joseph Moore named the chipmaker a top pick, reiterating his overweight rating and $144 price target. Nvidia shares have more than doubled this year.

Persons: Morgan Stanley, Nomura, Dan Dolev, Dolev, UPST, Dole, — Hakyung Kim, Samik Chatterjee, Chatterjee, Hakyung Kim, Anindya Das, Das, Joseph Moore, Moore, Fred Imbert Organizations: CNBC, Mizuho, Holdings, underperform, JPMorgan, TAM, Nomura, America, Nvidia Locations: Mizuho, Tuesday's, North America, U.S, Europe

☆ Inside the downfall of Henrik Fisker's second automotive startup, which just filed for bankruptcy
▼ + stars: | 2024-06-18 | by ( Grace Kay | ) www.businessinsider.com time to read: +19 min

AdvertisementA Fisker spokesperson said it would be "unfair" to compare the two companies. A Fisker spokesperson denied comments that Henrik took on a more passive role and said he was "deeply involved." AdvertisementA Fisker spokesperson said Magna was responsible for testing and releasing the Ocean and it had been fully certified by regulators in the US and Europe. A Fisker spokesperson pushed back on the comments questioning Henrik's business prowess. For Henrik, whose earlier company, Fisker Automotive, filed for bankruptcy in 2013, his present predicament echoes the past.

Persons: —, Henrik Fisker, Wendy Gruel's, Geeta Gupta, Gupta, Henrik Fisker's, James Bond, Henrik, Fisker, Rivian, Tesla, Phil McCarten, Magna, hadn't, YouTuber, Marques Brownlee, Kurt Mechling, he'd, they'd Organizations: Service, Business, TechCrunch, Aston Martin, BMW Z8, Magna International, Fisker Inc, Apollo Global Management, Tesla, Ford, GM, Magna, Reuters, Fisker, Business Insider, Engineers, Traffic Safety Administration, NHTSA, Technicians, California Bureau of Automotive, BI, New York Stock Exchange, Fisker Automotive Locations: Fisker, Europe, California, Graz, Austria, Panera

☆ Inside Henrik Fisker's second failed automotive startup
▼ + stars: | 2024-06-12 | by ( Grace Kay | ) www.businessinsider.com time to read: +18 min

AdvertisementA Fisker spokesperson said it would be "unfair" to compare the two companies. A Fisker spokesperson denied comments that Henrik took on a more passive role and said he was "deeply involved." AdvertisementA Fisker spokesperson said Magna was responsible for testing and releasing the Ocean and it had been fully certified by regulators in the US and Europe. But in the year since the Ocean's release, the company has delivered around 7,000 vehicles, a Fisker spokesperson said. A Fisker spokesperson pushed back on the comments questioning Henrik's business prowess.

Persons: —, Henrik Fisker, Wendy Gruel's, Geeta Gupta, Gupta, Henrik Fisker's, James Bond, Henrik, Fisker, Rivian, Tesla, Phil McCarten, Magna, hadn't, YouTuber, Marques Brownlee, Kurt Mechling, he'd, they'd Organizations: Service, Business, TechCrunch, Aston Martin, BMW Z8, Magna International, Fisker Inc, Apollo Global Management, Tesla, Ford, GM, Magna, Reuters, Fisker, Business Insider, Engineers, Traffic Safety Administration, NHTSA, Technicians, California Bureau of Automotive, BI, New York Stock Exchange Locations: Fisker, Europe, California, Graz, Austria, Panera

☆ Federal regulators are investigating fatal crash of VinFast EV
▼ + stars: | 2024-05-21 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +2 min

CNN —Federal regulators are investigating a California crash that killed four occupants who rode in a VinFast electric SUV, which had automated steering features the owner had earlier complained about. Someone claiming to be the vehicle’s owner filed the complaint. The SUV was being driven by one of the owner’s coworkers with the coworker’s family when the fatal crash occurred, according to the complaint. The vehicle owner had complained about the performance of the SUV’s automated steering, although it’s not clear if that was a factor in the crash. It’s not clear if the vehicle’s Advanced Driving Assistance features were involved in the fatal crash.

Persons: it’s, It’s Organizations: CNN, NHTSA, Ford, Media, Investigations Locations: California, Vietnam

☆ Live updates: Israel-Hamas war as Rafah invasion looms
▼ + stars: | 2024-05-11 | by ( Sophie Tanno | Amarachi Orie | ) edition.cnn.com time to read: +1 min

The Israeli military has ordered the immediate evacuation of several more neighborhoods in eastern Rafah as the Israeli military steps up its operations in the southern Gazan city. “They (Israelis) told us to leave the area in the morning,” one woman in al-Shabora, Rafah told CNN without giving her name. It comes as thousands of Gazans continue to flee Rafah after the Israeli military issued a call Monday for residents in the municipality of Al-Shawka and in the Al-Salam, Al-Jeneina, Tiba Zaraa, and Al-Bayouk neighborhoods in the Rafah area to "evacuate immediately." Israel has ordered Palestinians to leave to Al-Mawasi, a coastal town near the city of Khan Younis, where an “expanded humanitarian area” has been created. Satellite images obtained by CNN have shown that Israel’s current attacks in Rafah havedeveloped from airstrikes to ground operations.

Persons: “, Salam, Tiba Zaraa, Israel, Khan Younis Organizations: People, IDF, Israel Defense Forces, Spokesperson's, CNN Locations: Rafah, Gazan, al, Al, Khirbet Al, Shabora, Khan, ”

☆ It's already hard to get your Fisker fixed. Bankruptcy could make it impossible.
▼ + stars: | 2024-04-27 | by ( Grace Kay | Nora Naughton | ) www.businessinsider.com time to read: +6 min

AdvertisementBusiness Insider spoke with seven Fisker Ocean owners who shared their anxieties about what will happen to their cars if Fisker is no more. AdvertisementSome Fisker owners said they are already struggling to get service and parts. Three Fisker ocean owners described instances where the vehicle was bricked for days after their 12-volt battery died. What Fisker's failure would mean for its competitorsIf Fisker files for bankruptcy, there are likely to be ripple effects for other EV startups, Fiorani said. "If Fiskers start falling off the side of the road in the next few months because there's no one to update them, that's going to put fear into a lot of electric vehicle owners — not just Fisker owners," Fiorani said.

Persons: —, Henrik Fisker teeters, Sam Fiorani, Kurt Mechling, Mechling, Fisker, Chris Salvo, Salvo, Henrik Fisker, Mario Anzuoni, Fiorani, Patrick Burrell, Tesla Organizations: Service, Business, AutoForecast Solutions, BI, Reuters, EV Locations: California

Microsoft and a major chemical stock were among Friday's biggest analyst calls. He also lowered his price target by $1 to $25, which implies shares can fall roughly 19% from Thursday's close. Sandler increased his price target by $27 to $200, which implies 26.6% potential upside. JPMorgan: Analyst Mark Murphy added $30 to his price target, which is now at $470. He also hiked his price target to $61 from $55, which implies upside of 8% going forward.

Persons: Morgan Stanley, Mobileye, Adam Jonas, Jonas, — Pia Singh, Stifel, Stanley Elliot, Elliott, Alphabet's, Oppenheimer, Jason Helfstein, Ross Sandler, Sandler, Brent Thill, Google's, Justin Post, Post, Wall, Raimo Lenschow, Wells, Michael Turrin, MSFT, Turrin, Mark Murphy, Murphy, Keith Weiss, Weiss, Jeffrey Zekauskas, Zekauskas, Dow, Fred Imbert Organizations: CNBC, Microsoft, JPMorgan, Dow Inc, TAM, Caterpillar, Google, Barclays, –, Jefferies, Bank of America, DOW Locations: Israel, Thursday's, reaccelerate, Wells Fargo

☆ Some Cybertruck owners report getting red warning screen alerts within days of taking delivery
▼ + stars: | 2024-04-13 | by ( Grace Kay | ) www.businessinsider.com time to read: +5 min

Some Cybertruck owners are reporting issues they say occurred shortly after delivery. AdvertisementSome Cybertruck owners are taking to the internet to report issues with their new Tesla pickup truck. Multiple owners have reported the same issueAt least five others who identified themselves as Cybertruck owners online have posted that they had seen the same warning screen. One Cybertruck owner on a Cybertruck owners forum said they'd seen the warning message, but had less success resetting the vehicle. It's not the only issue Cybertruck owners are flagging online — owners have also pointed out issues with the ADAS system and charging.

Persons: they've, —, Thomas Remo, Remo, they'd, Tesla, It's, Marques Brownlee, Brownlee Organizations: Service, YouTube, Business

☆ Elon Musk says Tesla will unveil its robotaxi on Aug. 8; shares pop
▼ + stars: | 2024-04-05 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +3 min

Elon Musk, Chief Executive Officer of Tesla and owner of X, formerly known as Twitter, attends the Viva Technology conference dedicated to innovation and startups at the Porte de Versailles exhibition center in Paris, France, June 16, 2023. Musk shared the reveal date on Friday after Reuters reported that plans for Tesla's highly anticipated low-cost car model had been scrapped. In 2015, Elon Musk told shareholders that Tesla's cars would achieve "full autonomy" within three years. Tesla still has yet to deliver a robotaxi, autonomous vehicle or technology that can turn its cars into "level 3" automated vehicles. On Friday, Apple shuttered its self-driving unit and laid off about 600 people on Friday who had been associated with the project.

Persons: Elon Musk, Porte, Tesla, Musk, FSD, Waymo, Uber, Cruise's, Leswing Organizations: Twitter, Viva Technology, Porte de, Reuters, Tesla, Companies, Wayve, Apple, Cruise Locations: Paris, France, Phoenix, San Francisco, Los Angeles, Austin , Texas, Arizona, China, Guangzhou, U.S

☆ I owned the Fisker Ocean. It was a nightmare.
▼ + stars: | 2024-03-31 | by ( Grace Kay | ) www.businessinsider.com time to read: +7 min

Earlier this year, YouTuber Marques Brownlee said the Fisker Ocean was the "worst car I've ever reviewed." I thought the Fisker Ocean was a great option, based on the price and a nice marketing message around the sustainability of the vehicle. I reported the issue to Fisker right away and I struggled to get them to come out and service it. FiskerAt first, Fisker sent out a roadside assistance guy to jump the car and the car wouldn't jump. Regarding the owner's seat-sensor issue, the Fisker spokesperson said the seat sensor was a "routine fix for some early vehicles."

Persons: YouTuber Marques Brownlee, he'd, Brownlee, Fisker, —, Elon Musk, they'd, It's, wasn't, I'd, YouTuber Marques Organizations: Service, Business, PACE, Magna Locations: Carmax

☆ Tesla's stock wraps up one of its worst quarters on record as global dominance wanes
▼ + stars: | 2024-03-29 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +11 min

Deliveries are the closest approximation of sales reported by Tesla but are not precisely defined in the company's shareholder communications. Tesla's Model 3 is about $4,000 more than that. Aging lineup, early days for Cybertruck While EV sales are still gaining popularity worldwide, the growth rate has slowed. In a push for end-of-quarter sales, Musk recently mandated that all sales and service staff install and demo FSD for customers before they hand over their cars. Despite its name, Tesla's premium option requires a human driver at the wheel, ready to steer or brake at any moment.

Persons: Florence Lo, Tesla, Troy Teslike, Tesla's, China's BYD, BYD, Lei Jun, Emmanuel Rosner, Rosner, Elon Musk, Krisztian Bocsi, Rohan Patel, Musk, Sandy Munro, Forbes, Larry Magid, Donald Trump, He's, he's, Investor Ross Gerber, who've, Brad Gerstner, Gerstner, FSD Organizations: Reuters, FactSet, Independent, Qin, Tesla's, China Passenger Car Association, Bloomberg, Deutsche Bank, Tesla, Volvo, Elon, Tesla Inc, Getty, IF Metall, IF Metall's, IF, Pew Research, Gallup, Investor, CNBC, Bears, S3 Partners, U.S Locations: Beijing, China, China In China, Shanghai, Europe, Red Sea, Iran, Gruenheide, Germany, Brandenburg, Berlin, Swedish, Sweden, U.S, Austin , Texas, San Jose , California, Fremont , California, Florida, Haiti, Texas, Delaware

☆ Federal investigators look into crash of Mustang Mach-E equipped with driver assistance tech
▼ + stars: | 2024-03-18 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +3 min

CNN —Investigators with the National Highway Traffic Safety Administration and National Transportation Safety Board are investigating a fatal crash involving a Ford Mustang Mach-E equipped with advanced driving assistance technology. Ford shows off the new model 2024 Ford Mustang Mach-E GT during the Chicago Auto Show at McCormick Place convention center in Chicago, Illinois on February 8, 2024. Federal investigators are looking at dozens of crashes involving so-called advanced driver assistance, or ADAS, systems. ADAS systems handle basic driving tasks such as keeping the vehicle in its lane while maintaining a safe distance behind vehicles ahead, usually in highway driving only. Fourteen of these systems, including two from Ford, were recently rated by the private Insurance Institute for Highway Safety.

Persons: Jacek Boczarski, Ford, IIHS, Jennifer Homendy Organizations: CNN, National, Traffic Safety Administration, National Transportation Safety, Ford, of Highway Safety, NTSB, Chicago Auto, McCormick, Getty, NHTSA, Wall Street, Federal, General Motors, Volvo, Insurance Institute for Highway Safety Locations: “, San Antonio, Chicago , Illinois, Anadolu, Ford, Texas

☆ Tesla Autopilot and similar automated driving systems get ‘poor’ rating from prominent safety group
▼ + stars: | 2024-03-11 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +7 min

CNN —The Insurance Institute for Highway Safety, which rates cars and SUVs for safety, examined so-called advanced driver assistance systems such as Tesla Autopilot and found them wanting. Of the 14 systems tested by the agency, 11 earned a “poor” rating including Tesla’s Autopilot and so-called Full Self Driving systems. Insurance Institute test drivers also looked at what would happen if the driver became incapacitated with the automated driving system in use. Of the systems tested, only GM’s Super Cruise handled that sort of situation the proper way, according to the Institute. The Insurance Institute will continue to monitor software updates and improvements and will periodically retest the systems, Harkey said.

Persons: ’, David Harkey, Harkey, “, ” Harkey, ” Nissan, Ford, BlueCruise, ” Ford Organizations: CNN, The Insurance Institute for Highway, Ford, Nissan, ”, Insurance, ” Insurance, Traffic, Administration, The Insurance Institute, Institute, The, . Insurance, Cruise, Tesla, GM, Insurance Institute for Highway, Insurance Institute

☆ Cramer's Lightning Round: Super Micro Computer has 'gotten too hot'
▼ + stars: | 2024-03-04 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Stock Chart Icon Stock chart icon Confluent's year-to-date stock performance. Stock Chart Icon Stock chart icon Super Micro Computer's year-to-date stock performance. Stock Chart Icon Stock chart icon Chewy's year-to-date stock performance. Stock Chart Icon Stock chart icon On Holding's year-to-date stock performance. Stock Chart Icon Stock chart icon Indie Semiconductor's year-to-date stock performance.

Persons: they've, I've, I'm Organizations: Indie Semiconductor

☆ Manhattan DA seeks gag order on Trump in criminal hush money case, citing voluminous threats to office staff
▼ + stars: | 2024-02-26 | by ( Kara Scannell | ) edition.cnn.com time to read: +5 min

Trump’s comments have already resulted in hundreds of threats to the office, prosecutors said in a motion Monday. “Defendant has a long history of making public and inflammatory remarks about the participants in various judicial proceedings against him, including jurors, witnesses, lawyers, and court staff,” the Manhattan district attorney’s office wrote. They are seeking state Supreme Court Judge Juan Merchan to gag Trump from making comments about potential witnesses, lawyers involved in the case other than the DA, court staff, and family members of lawyers and staff. In addition, prosecutors also asked the judge to prevent Trump from making public statements about any prospective juror in the trial. Twice that year, the district attorney’s office received letters with white powder containing messages.

Persons: Donald Trump’s, “ Defendant, Attorney Alvin Bragg, Juan Merchan, Trump, “, ”, Stormy Daniels, Prosecutors, Bragg, Nicholas Pistilli, TAPU, Pistilli, “ Alvin, I’m, ADAs, ” Pistilli Organizations: CNN, Manhattan, Prosecutors, Trump, Attorney, Appeals, Protection, NYPD, DA Locations: Manhattan

☆ Nvidia and more: These global stocks will soar on a $324 billion autonomous vehicle boom, analysts say
▼ + stars: | 2023-11-30 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +3 min

Autonomous vehicles — or vehicles embedded with chips and sensors to enable self-driving — have been picking up steam, and several stocks make good plays on the theme, according to Fubon Research. Providers of sensors and cameras are among the autonomous vehicle related companies on Fubon Research's watch. 3008-TW YTD mountain Year-to-date share price of Largan Precision On Largan, Fubon Research's analysts pointed out that the company stands to gain from the addition of cameras in autonomous vehicles. "Cameras have become an important part of ADAS and autonomous driving. NVDA YTD mountain Year-to-date share price of Nvidia Meanwhile, Nvidia made Fubon Research's watch list thanks to its development of autonomous vehicle technologies under its NVIDIA DRIVE platform.

Persons: Fubon, Tong, — CNBC's Michael Bloom Organizations: Research, Jefferies, Autonomous, Nvidia, NVIDIA, Primax Electronics, Qualcomm Inc Locations: Taiwan, ADAS

☆ Supply problems set to hit Volkswagen's Skoda unit - Handelsblatt
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: 1 min

ADAS, AV & Safety category · November 18, 2023 · 1:09 AM UTCDays after General Motors’ Cruise self-driving car unit pulled all of its vehicles off the roads in the U.S. for a safety review, it continues to test them on public roads in Dubai and Japan, Reuters has learned.

Persons: General Motors ’ Organizations: General Motors, Reuters Locations: U.S, Dubai, Japan

☆ Japan's Denso to target $8 bln in electrification revenue by FY 2025
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +1 min

Companies Denso Corp FollowTOKYO, Nov 15 (Reuters) - Japanese automotive supplier Denso (6902.T) aims to increase its revenue from electrification to 1.2 trillion yen ($7.97 billion) by the 2025 business year and 1.7 trillion yen by the turn of the decade, the company said on Wednesday. Denso aimed to grow its revenue from advanced-driver assistance systems (ADAS) to 520 billion yen by the 2025 business year and said it would further unwind cross-shareholdings, according to presentation materials. "As electrification centred on battery electric vehicles progresses from the 2025 business year onward, we want to reach 1.7 trillion yen by 2030 by expanding sales globally," he said. Denso has been ahead of other firms in actively reducing its cross-shareholdings, Matsui said, adding that none of the remaining holdings were off limits. Denso reiterated an October commitment to invest about 500 billion yen in semiconductors by 2030 and pledged to boost the number of workers in software to some 18,000 people by 2030, about 1.5 times of their current level.

Persons: Denso, Yasushi Matsui, Matsui, Daniel Leussink, Muralikumar Organizations: Denso, Thomson

☆ France's Valeo third-quarter sales rise driven by key regions, businesses
▼ + stars: | 2023-10-26 | by ( Pierrejohn Felcenloben | ) www.reuters.com time to read: +2 min

Valeo reaffirmed its full-year guidance of between 22-23 billion euros for sales and an operating margin in the range of 3.2-4% for end of 2023. Original equipment, that is vehicle components fitted by a manufacturer as standard, grew 4% on a like-for-like basis during the quarter. Original equipment represents 85% of Valeo sales. Aftermarket product sales, accounting for 11% of total sales, grew 3% on a like-for-like basis to 569 million euros. North America accounted for 21% of original equipment sales this quarter and recent UAW strikes in the United States have "had a negligible impact" on sales, the company said.

Persons: Sarah Meyssonnier, Valeo, Christophe Périllat, Pierre John Felcenloben, Jane Merriman, Cynthia Osterman Organizations: Valeo, REUTERS, Systems, UAW, Thomson Locations: Paris, France, Valeo, North America, United States

A Tesla Model 3 vehicle drives on autopilot along the 405 highway in Westminster, California, U.S., March 16, 2022. REUTERS/Mike Blake/File Photo Acquire Licensing RightsCompanies Tesla Inc FollowOct 2 (Reuters) - In a victory for Tesla (TSLA.O), a judge has ruled that a group of vehicle owners must pursue claims that the company misled about its Autopilot features in individual arbitration rather than court. The ruling means Tesla will not have to face class action claims on behalf of much larger groups of vehicle owners. A fifth plaintiff who did not sign an arbitration agreement waited too long to sue, Gilliam ruled in dismissing that plaintiffs' claims. The company moved to send the claims to arbitration, citing the plaintiffs' acceptance of the arbitration agreement.

Persons: Mike Blake, Tesla, District Judge Haywood Gilliam, Gilliam, Andrew Kirtley, Kirtley, Daniel Wiessner, Alexia Garamfalvi, Deepa Babington Organizations: Tesla, REUTERS, U.S, District, Thomson Locations: Westminster , California, U.S, Oakland , California, California, Los Angeles, Albany , New York

A Tesla Model 3 vehicle drives on autopilot along the 405 highway in Westminster, California, U.S., March 16, 2022. The ruling marks a significant victory for Tesla, as it means the company will not have to face class action claims on behalf of much larger groups of vehicle owners. A fifth plaintiff who did not sign an arbitration agreement waited too long to sue, Gilliam ruled in dismissing that plaintiff's claims. The company moved to send the claims to arbitration, citing the plaintiffs' acceptance of the arbitration agreement. Gilliam on Saturday rejected claims by the plaintiffs that the agreements signed by four of the plaintiffs were unenforceable.

Persons: Mike Blake, Tesla, District Judge Haywood Gilliam, Gilliam, plaintiff's, Daniel Wiessner, Alexia Garamfalvi, Deepa Babington Organizations: Tesla, REUTERS, Tesla Inc, U.S, District, Thomson Locations: Westminster , California, U.S, California, Los Angeles, Albany , New York

☆ Bank of America says this lidar stock can rally more than 40% after a sell-off
▼ + stars: | 2023-09-22 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +1 min

Hesai , the builder of lidar technology used in self-driving cars, could be in for strong gains after selling off following its U.S. initial public offering, according to Bank of America. The bank initiated coverage of Hesai with a buy rating and a price of $14.80. Since then, the stock has fallen more than 46%. Despite the sell-off, analyst Jessie Lo thinks the company "deserves a valuation premium against peers, given its leading position in market share, shipment, order gain, margin, breakeven timeline, and balance sheet/cash flow management." "We expect Hesai to ride on the ADAS [advanced driver assistance systems] industry takeoff and growing LiDAR penetration, and deliver 60% sales CAGR [compound annual growth rate] in 2023-25," she said.

Persons: Jessie Lo, Lo, — Michael Bloom Organizations: Bank of America, North Locations: Thursday's, Hesai's U.S, China

☆ Seat massages, smartphones and driverless features: Automakers turn to tech to take on Tesla
▼ + stars: | 2023-09-11 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +4 min

The presence of Amazon, Qualcomm, Samsung and other tech giants underscores how traditional automakers are looking to bolster the tech in their cars. Ramping up technology features is also essential to meet buyer expectations in China. Driverless features pushA big part of the focus of Tesla technology has surrounded its Autopilot ADAS. No car can operate autonomously — at least from a legal perspective — but automakers are ramping up the driverless features and capabilities. watch nowMore traditional automakers are looking to catch up in the area of driverless features.

Persons: Arjun Kharpal, You'd, Tesla, Mohit Sharma, That's, Xingji, Lucid Organizations: Amazon, IAA, Qualcomm, Samsung, CNBC, CCS Insight, Benz, Swedish EV, Polestar, BMW, Neue Locations: Munich, China, Swedish, U.S

☆ BMW to use Amazon cloud technology to build its autonomous driving features for new EVs
▼ + stars: | 2023-09-05 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

BMW revealed the BMW Vision Neue Klasse, a concept electric vehicle that will underpin its foray into battery-powered cars. MUNICH — BMW will build its semi-autonomous driver assistance system on Amazon's cloud computing technology, the two companies said Tuesday. It comes as traditional automakers look to boost the technology in their cars, with a particular focus on ADAS, to compete with Tesla . An ADAS is a software system that can offer drivers assistance with actions such as lane changing or parking. Automakers are looking to introduce an increasing number of these features as they push toward autonomous driving.

Persons: Tesla's Organizations: BMW, Neue, Tesla Locations: MUNICH

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