DIRS.INFO The most relevant business & tech news

☆ There is no such thing as an all-America car. That’s why tariff will raise car prices.
▼ + stars: | 2024-11-27 | by ( Chris Isidore | ) edition.cnn.com time to read: +10 min

The US government tracks what percentage of each car’s parts is made “domestically.” But under current trade law, both Canadian-made parts and US-made parts are counted as the same domestic content. “Yes, it’s America’s truck, assembled in America, but not with American parts,” Ivan Drury, director of insights for Edmunds, told CNN. Domestic parts could be tough to findFinding domestic supplies for many of the imported car parts would be difficult. Even if an American parts supply could be found, in most cases it would be more expensive. Fewer imported cars would raise all pricesTariffs on imported vehicles likely would also lead to higher prices on cars that are assembled here, since it would limit the supply of vehicles in the US market.

Persons: Donald Trump, Trump, aren’t, Bill Clinton, Bill Pugliano, Honda, “, it’s, ” Ivan Drury, Edmunds, Jeff Schuster, GlobalData, ”, Drury, “ You’re Organizations: New, New York CNN, GM, Ford, Jeep, Dodge, Chrysler, Toyota, Honda, Tesla, Hyundai, Kia, Nissan, Mazda, Subaru, CNN, Chevrolet Blazer, Chevrolet Silverado Locations: New York, Mexico, Canada, American, United States, China, Lincoln , Alabama, Dearborn , Michigan, Michigan, Missouri, America, Saltillo , Mexico

President-elect Donald J. Trump’s threat to impose 25 percent tariffs on goods from Mexico and Canada sent shivers on Tuesday through the auto industry, which depends heavily on both countries for parts and manufacturing. The prospect of tariffs “is a two-alarm fire for the auto industry,” said Patrick Anderson, chief executive of Anderson Economic Group, a consulting firm in Michigan. It includes Ram pickups made by Stellantis in Saltillo, Mexico, and Chrysler minivans built in Windsor, Ontario. General Motors makes Chevrolet Silverado pickups and electric versions of Equinox and Blazer S.U.V.s in Mexico, where Ford also makes its Maverick pickup. Those higher auto prices would have a significant effect on overall inflation.

Persons: Donald J, shivers, ”, Patrick Anderson, Ford, Trump Organizations: Anderson Economic Group, Stellantis, Chrysler, General Motors, Chevrolet Silverado Locations: Mexico, Canada, Michigan, Michigan , Ohio , Illinois, Texas, Saltillo , Mexico, Windsor , Ontario

☆ I drove a $27,000 Chevrolet Trax SUV. It's affordable daily transportation done right
▼ + stars: | 2024-11-24 | by ( Benjamin Zhang | ) www.businessinsider.com time to read: 1 min

AdvertisementThe Chevrolet Trax is a subcompact crossover SUV and the lowest-priced model in GM's lineup. The average price of a new car has risen by more than $10,000 over the past five years, making a good, affordable new car harder to find. Enter the second-generation Chevrolet Trax, which launched this year. With a starting price of $20,400, the Trax is not only the most affordable model in the Chevrolet lineup but also the cheapest model offered by General Motors in the US. The subcompact SUV competes with the Toyota Corolla Cross, Nissan Kicks, Hyundai Kona, and its corporate cousin, the Buick Envista.

Organizations: Chevrolet Trax, Chevrolet, General Motors, Toyota Corolla Cross, Nissan Kicks, Hyundai, Buick

☆ Auto worker wipeout: Why car companies are cutting thousands of jobs
▼ + stars: | 2024-11-21 | by ( Benjamin Zhang | ) www.businessinsider.com time to read: +5 min

This is due to unprofitable EV investments, Chinese market losses, and more domestic competition. Ford, General Motors, and Stellantis plan to slash thousands from their workforce in the coming months. AdvertisementBut despite that growth — and with EVs accounting for roughly 10% of US auto sales — companies not named Tesla have struggled to make their EV businesses profitable. German carmakers are losing out to Chinese EV upstarts like BYD. Analysts say inventory levels are improving at Stellantis and industry-wide as automakers react to a slower sales environment.

Persons: Ford, Josh Lefkowitz, EVs, That's, Tesla, Tim Levin, Daniel Pier, Stellantis, Price, Donald Trump Organizations: Ford, GM, Volkswagen Group, General Motors, Volkswagen, Silverado, Angeles Auto, EV, Cadillac, VW Group, Geely, VW, Competition Locations: Germany, Cadillac Lyriq, China, United States

☆ Why your next new car could very well cost more than $50,000
▼ + stars: | 2024-11-16 | by ( Chris Isidore | ) edition.cnn.com time to read: +4 min

Americans paid a whopping $47,612 on average for a new car in October, according to data from Edmunds. That means new car prices have risen much faster than most goods and services. But much of the reason Americans are paying nearly $50k for a car is that automakers decided to go all-in on expensive cars. The combination of higher interest rates and higher car prices, along with the biggest average loans ever taken out to buy them, lifted the average monthly car payment to $742 in October. And that would make every car built in America more expensive, because no vehicle is made with 100% American parts.

Persons: New York CNN — It’s, That’s, Buyers, ”, Ivan Drury, “, didn’t, Charlie Chesbrough, Drury, –, ” Drury, Donald Trump, Jeff Schuster, GlobalData, They’re Organizations: New, New York CNN, Cox Automotive, Nissan, Infiniti, General Motors, Ford, Jeep, Dodge, Chrysler, GM, Federal Reserve Locations: New York, Edmunds, American, United States, Stellantis, Mexico, America

☆ Trump's transition team aims to kill Biden EV tax credit: Reuters
▼ + stars: | 2024-11-14 | by ( ) www.cnbc.com time to read: +3 min

Win Mcnamee | Getty Images News | Getty ImagesPresident-elect Donald Trump's transition team is planning to kill the $7,500 consumer tax credit for electric-vehicle purchases as part of broader tax-reform legislation, two sources with direct knowledge of the matter told Reuters. Ending the tax credit could have grave implications for an already stalling U.S. EV transition. Representatives with the Trump transition and Tesla did not immediately respond to requests for comment. The alliance last month in an Oct. 15 letter urged Congress to retain the EV tax credits, calling them "critical to cementing the U.S. as a global leader in the future of automotive technology and manufacturing." Trump's energy transition team views the consumer EV credit as an easy target, believing that eliminating it would get broad consensus in a Republican-controlled Congress as part of a larger tax-reform bill.

Persons: Joe Biden, Biden, Win Mcnamee, Donald Trump's, Tesla, Elon Musk, Joe Biden's, oilman Harold Hamm, Doug Burgum, Mary Barra, Ngan, Trump, Donald Trump, Allison Robbert Organizations: White, Washington , D.C, Getty, Reuters, Trump, EV, Motors, Continental Resources, North Dakota, General Motors, Chevrolet Silverado, Huntington Place Convention, Afp, Alliance, Automotive Innovation, Tesla, Republican, Republicans, Hyatt Locations: Washington ,, Detroit , Michigan, Florida, Washington , DC

☆ 4 reasons GM is crushing it right now
▼ + stars: | 2024-10-22 | by ( Benjamin Zhang | ) www.businessinsider.com time to read: +4 min

GM's profits were driven by strong SUV sales, EV growth, cost reductions, and improved China sales. GM's EVs hold a 9.8% share of the US EV market, behind only Tesla. AdvertisementGeneral Motors reported strong third-quarter 2024 profits on Tuesday, topping Wall Street's estimates and helping send shares surging more than 9%. Of those who purchased a GM EV, more than 60% are conquests from other automakers, Barra said. Reuss said GM has eliminated 2,700 unique parts, ranging from seat assemblies to wiring harnesses, from its inventory.

Persons: —, Mary Barra, EVs, Barra, Mark Reuss, Reuss Organizations: Motors, US, Service, Detroit, GM, Chevrolet Traverse, GMC Acadia, Consumers, General Motors, EV, Tesla Locations: China

☆ Chevrolet aims to defend highly profitable SUV market position with updated Tahoe, Suburban
▼ + stars: | 2024-10-16 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

2025 Chevrolet Tahoe GMDETROIT – General Motors has updated its highly profitable large SUVs for Chevrolet for the 2025 model year to defend the brand's long-standing segment leadership. The Detroit automaker's Chevrolet Tahoe and Suburban have led the mainstream full-size SUV segment for over 45 years, according to GM. For Chevrolet, the 2025 Chevrolet Tahoe and Suburban check many of those boxes and include the addition of GM's hands-free Super Cruise advanced driver-assistance system. Starting pricing for the 2025 Tahoe will range from about $60,000 for a Tahoe LS to more than $83,000 for the top-end High Country. 2025 Chevrolet Tahoe GM

Persons: Scott Bell, Bell Organizations: Chevrolet Tahoe GM DETROIT –, Motors, Chevrolet, Detroit, GM, Ford Motor, Nissan, GMC, Yukon XL, Ford, Cruise, CNBC, LS, CarMax, Chevrolet Tahoe Locations: Tahoe, Detroit, Yukon, U.S

☆ American consumers are increasingly underwater on their car loans
▼ + stars: | 2024-10-15 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

DETROIT — A growing number of Americans with auto loans owe more than their vehicles are worth, according to a report Tuesday from Edmunds.com. Upside-down car loans aren't necessarily dire on their own, but a growing number of consumers being underwater is another indication of pressure on American consumers. Edmunds reports more than one in five consumers with negative equity owe more than $10,000 on their auto loans. That includes 22% of vehicle owners with negative equity who owed $10,000 or more, while 7.5% have negative equity of more than $15,000. Consumers can counter upside-down car loans by holding onto the vehicles for longer periods.

Persons: Jessica Caldwell, Edmunds, Ivan Drury Organizations: CDK, DETROIT, Federal Reserve Locations: Chicago , Illinois, United States, Canada, Edmunds.com, Edmunds

☆ For God, for country, for rain
▼ + stars: | 2024-10-14 | by ( Jessica Lucas | ) www.businessinsider.com time to read: +24 min

It's 9:30 a.m., and Augustus Doricko, the mulleted 24-year-old founder of the cloud-seeding company Rainmaker, is clutching a coffee. There's a long way to go before cloud seeding becomes a viable option for solving one of humanity's many self-made crises. El Segundo, population 17,272, has long been a bastion of American engineering, home to aerospace and defense giants like Boeing and Raytheon. Jett Lara for BIThe burning happens every Friday around 8 p.m. at a bonfire on El Segundo Beach. One of Doricko's goals is to build a church in El Segundo to "share the grace of God with other people."

Persons: Augustus Doricko, Bruno Mars, Doricko, Jessica, I'd, Jesus, He'd, that's, Rainmaker, Lauren Sánchez, Jett Lara, Billy Ray Cyrus, God, Augustus Doricko Doricko's, Cameron Schiller, Augustus, Schiller, El, That's, it's, El Segundo, Elon Musk, Isaiah Taylor, Doricko's, Taylor, Rob Coutts, —, Jesus of Nazareth, Zer, he'd, Jason Flynt, Flynt, Terra, Michael Gibson, Sarah Tessendorf's, messaged Gibson, Michael, Gibson, Thiel, Peter Thiel, I'm, Katja Friedrich, Friedrich, Friedrich isn't, Jonathan Jennings, Kaitlyn Suski, dumbbells, Jackson Schultz, Elijah, birdsong, Schultz, We're, coffees, Mankind Organizations: MGM, Association, Aspen Ideas, Global Initiative, BI, El, Boeing, Raytheon, Space Industries, Chevrolet, Stamford Yacht Club, New Zealand, University of California, BI Doricko, drillers, Terra Seco, Thiel Foundation, Terra, tech's, Weather Locations: Vegas, Tennessee, El Segundo, Los Angeles, America, Silicon, Santa Clarita, Rainmaker, Beijing, Colorado, California, Smoky, El Segundo Beach, North Carolina, Texas, Stamford , Connecticut, New, Costa, Berkeley, Christianity, Fort Worth , Texas, Terra Seco, drawdowns, Lake Mead, Las Vegas, Phoenix, Juul, Fresno, San Jose, Dubai, UAE, Midwest, West Texas, New Mexico , Arizona , Nevada, Amsterdam, Milan

☆ I drove Chevy's new Equinox EV to Costco and soccer games. The SUV delivers on its family-car promise.
▼ + stars: | 2024-10-10 | by ( Nora Naughton | ) www.businessinsider.com time to read: +1 min

For a smaller hatchback, the Equinox EV impressed me with its cargo space. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementChevrolet is pitching the Equinox EV as an option for today's more practical electric vehicle shopper. So, when I got the chance to drive the $46,595 Equinox EV for a week, I wanted to test the practicality of Chevy's newest electric car with my partner and our two-year-old son. But the Equinox EV slotted pretty seamlessly into our busy life.

Persons: —, Steve Majoro, Ann Arbor Organizations: Equinox, Service, Chevrolet's Locations: Detroit, Ann

☆ I drove Chevy's $57,000 Blazer EV. From giant screens to great maps, these 18 features make the high-tech SUV worth it.
▼ + stars: | 2024-10-09 | by ( Benjamin Zhang | ) www.businessinsider.com time to read: +1 min

Chevrolet launched the Blazer EV in late 2023. I recently drove the $57,000 SUV in RS trim with all-wheel-drive. AdvertisementUpon its launch in late 2023, the Chevrolet Blazer EV was one of the first mainstream offerings built on GM's EV platform shared by the Cadillac Lyriq and GMC Hummer EV. I recently reviewed a 2024 Chevrolet Blazer EV RS AWD, which starts at $53,200, with an as-tested price of $57,215. I was impressed by the Blazer EV's aggressive styling, roomy cabin, smooth ride, and massive high-definition touchscreen.

Persons: — Organizations: Chevrolet, Blazer, Service, Cadillac, GMC Hummer

☆ I charged a Chevy at Tesla Superchargers for a week. It was a breeze but came with one big drawback.
▼ + stars: | 2024-10-05 | by ( Nora Naughton | ) www.businessinsider.com time to read: +2 min

GM's electric vehicles got access to Tesla Superchargers last month. AdvertisementFor the better part of a week, I was the lone Chevy at my local Tesla Superchargers. Before I could offer to help, a flock of Tesla owners amassed to troubleshoot with him. Access to Elon Musk's charging network is the latest improvement GM has made to charging access for electric vehicle owners. For a long time, the Supercharger network was a selling point for EV shoppers worried about range anxiety.

Persons: —, didn't Organizations: Service, Chevrolet, Equinox, Elon, GM, GM Energy Locations: North America

☆ GM halts production at two major U.S. plants due to Hurricane Helene
▼ + stars: | 2024-10-04 | by ( Michael Wayland | ) www.nbcnews.com time to read: +2 min

DETROIT — General Motors has temporarily halted vehicle production at two U.S. factories that assemble highly profitable large pickups and SUVs due to impacts to suppliers as a result of Hurricane Helene. A GM spokeswoman declined to speculate on when the plants were expected to restart production as of Friday morning. A Thursday message to workers in Arlington viewed by CNBC said production at that plant was expected to resume Monday. Hurricane Helene made landfall in Florida late last week and hit the southeastern United States and parts of western North Carolina particularly hard. Jeffrey Morrison, GM vice president of global purchasing and supply chain, on Thursday said the hurricane and the port workers strike were disruptive events for the automaker.

Persons: Hurricane Helene, “, Jeffrey Morrison, dockworkers, Morrison, “ Covid, Jesse Jackson’s, We’ve, ” Morrison Organizations: DETROIT, Motors, Arlington Assembly, Chevrolet, Cadillac, GMC Yukon, CNBC, Coalition, “ Locations: Hurricane, Flint , Michigan, Texas, Arlington, Florida, United States, North Carolina, Detroit

☆ GM reports 2.2% decrease in third-quarter sales, but EVs make gains
▼ + stars: | 2024-10-01 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

DETROIT — Increases in sales of electric vehicles and small crossovers helped General Motors report slightly better-than-expected sales during the third quarter. The Detroit automaker reported a 2.2% drop in third-quarter sales compared with a year earlier, slipping to 659,601 vehicles sold. GM's third-quarter sales are expected to be in line with the overall industry. Cox Automotive and Edmunds project third-quarter sales industrywide will be down roughly 2% compared to a year earlier. Still, EVs made up only 4.9% of the company's total third-quarter sales.

Persons: Edmunds, EVs, Rory Harvey Organizations: Motors, Detroit, Auto, Cox Automotive, GM, CNBC, Chevrolet Trax, Buick Locations: Detroit, DETROIT, North America, U.S

☆ 5 of my favorite features on the Chevrolet Equinox EV that make it a perfect family SUV
▼ + stars: | 2024-09-29 | by ( Nora Naughton | ) www.businessinsider.com time to read: +1 min

Little details in design make the Equinox EV feel special. Equinox EV doesn't sacrifice style for function, offering a ton of storage space. AdvertisementI drove the new Chevrolet Equinox EV for a few days, and some features quickly jumped out as my favorites. This isn't the first time I've been behind the wheel of the Equinox EV — I first drove the crossover SUV over the summer on a short, pre-planned route. From charging to styling to unexpected features, the Equinox EV has worked nicely as a family hauler built for suburban life.

Persons: —, I've Organizations: Service

☆ I drove Chevy's $57,000 Blazer EV. It's stylish and practical but still too flawed to win me over.
▼ + stars: | 2024-09-25 | by ( Benjamin Zhang | ) www.businessinsider.com time to read: +1 min

The Chevrolet Blazer EV is a battery-electric midsize SUV built on GM's Ultium EV platform. I was impressed by the Blazer EV's stylish looks, roomy cabin, smooth ride, and massive touchscreen. Go to newsletter preferences Thanks for signing up! AdvertisementThe 2024 Chevrolet Blazer EV was one of the most eagerly awaited electric vehicles to hit the market when it debuted in late 2023. Until recently, the General Motors EV lineup had consisted primarily of luxury vehicles like the Cadillac Lyriq and high-priced pickups like the Hummer EV.

Persons: — Organizations: Chevrolet, Blazer, Apple, Service, General Motors EV, GM, Business

☆ Rescuers search for Yellowstone concession worker missing after backcountry hike in bad weather
▼ + stars: | 2024-09-23 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Dennis-Romero-Circle-Byline-Template.Jpg | Dennis Romero | ) www.nbcnews.com time to read: +3 min

Rescuers in Yellowstone National Park searched the area of Eagle Peak on Sunday in an effort to find a park concession worker who failed to check in at the end of a personal trip, authorities said. The mountain rises 11,358 feet above sea level and is Yellowstone National Park's highest location, according to the service. The Tuesday phone call was the last anyone heard from King, the park service said. In the last three days, temperatures in Yellowstone National Park have bottomed out in the high 20s and struggled to break the 60-degree mark, according to National Weather Service data. The park service said King is 6 feet tall, 160 pounds, has hazel eyes and was wearing glasses, a black sweatshirt and gray pants.

Persons: Austin King, King, It’s, It's, Crews Organizations: National Park Service, Yellowstone National, Rescuers, Chevrolet Silverado, Park Lodges, National Weather Service, Yellowstone Interagency Communications Center Locations: Eagle, Yellowstone, Howell, Minnesota, Grand Teton, Park, Teton, Wyoming

☆ Stocks making the biggest moves premarket: Intel, Pinterest, Palantir and more
▼ + stars: | 2024-09-23 | by ( Sean Conlon | ) www.cnbc.com time to read: +2 min

CNBC confirmed on Friday that Qualcomm had recently approached Intel about a takeover. Ciena – The networking software maker added more than 4% after a double upgrade by Citigroup to buy from sell cited an improving landscape in the broader telecommunications/cable industry. The bank sees bookings growth heading into next year. The bank sees an increasing relevance of the platform among users and expects strong revenue growth over the next few years. Palantir – The maker of software platforms to help companies analyze data declined more than 1%.

Persons: Ciena, Morgan Stanley, Palantir, Raymond James, Harlan Sur, —, Samantha Subin, Sarah Min, Pia Singh Organizations: Intel, Apollo Global Management, Bloomberg, CNBC, Qualcomm, Citigroup, Constellation Energy, Microsoft, Deutsche Bank, General Motors, Chevrolet, Micron Technology, JPMorgan Locations: Pennsylvania, The Boise , Idaho

☆ GM's EV sales momentum is finally building as new vehicle lineup fills out
▼ + stars: | 2024-09-23 | by ( Michael Wayland | ) www.cnbc.com time to read: +6 min

While GM has withdrawn most of its previously announced electric vehicle targets, the automaker believes its EV sales momentum is finally building thanks to an expanding lineup of all-electric vehicles – spanning a price range of roughly $35,000 to more than $300,000. EV sales data provided to CNBC by the Detroit automaker, which publicly reports sales quarterly, shows a notable increase for GM through August. GM sold nearly 21,000 EVs in the U.S. in July and August – almost matching its full second-quarter EV sales. GM's EV sales through August were up about 70% compared with a year earlier. It still remained more than 20,000 units shy of Hyundai/Kia EV sales through last month.

Persons: Mary Barra, Frederic J, Brown, Elon Musk's, Rory Harvey, Harvey, GM's, Tesla, Stephanie Brinley, Michael Wayland, Brinley, EVs, Scott Mlyn, Butts, Barra, carmaker Organizations: Cadillac, AFP, Getty, WARREN, General Motors, Detroit, U.S, GM, Elon Musk's carmaker, Hyundai, Kia, Ford, CNBC, Detroit automaker, Motor Intelligence, EV, P, Cox, Electric Locations: Los Angeles, Mich, North America, U.S, Detroit, Barra, U.K

☆ GM's EV drivers are finally getting access to the Tesla Supercharger network
▼ + stars: | 2024-09-18 | by ( Nora Naughton | ) www.businessinsider.com time to read: +1 min

GM is the latest company to get access to Tesla's Superchargers. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementGeneral Motors is the latest car company to grant its drivers access to Tesla's vast Supercharger network. This is the latest move by GM to improve charging access for its EV customers. With the addition of the Supercharger network, GM drivers can now charge at more than 231,800 Level 2 and DC fast chargers across North America, according to the Detroit-based automaker.

Persons: Superchargers, Tesla's, — Organizations: Service, GM, Chevrolet, Cadillac, EV, Business Locations: North America, Detroit

☆ The $100,000 electric truck market is here. A guide to pickups from Tesla, GM, Rivian and Ford
▼ + stars: | 2024-09-07 | by ( Michael Wayland | ) www.cnbc.com time to read: +10 min

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

☆ Tesla Cybertruck is in a category of its own for better or worse
▼ + stars: | 2024-09-03 | by ( Michael Wayland | ) www.cnbc.com time to read: +11 min

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

☆ GM folding its all-electric BrightDrop vans into Chevrolet brand
▼ + stars: | 2024-08-29 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

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

☆ Why Ford believes its $1.9 billion shift in EV strategy is the right choice for the company
▼ + stars: | 2024-08-23 | by ( Michael Wayland | ) www.nbcnews.com time to read: +8 min

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, ”

Search resuls for: "Chevrolet"

25 mentions found