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☆ China's 'ruinous' EV price war cannot last forever, says Volkswagen exec
▼ + stars: | 2024-11-23 | by ( Chris Johnston | Daniel Zwick | ) www.businessinsider.com time to read: +4 min

AdvertisementVolkswagen is committed to China despite a "ruinous" domestic EV price war, its brand chief says. Volkswagen remains firmly committed to China despite a "ruinous" EV price war by domestic rivals that has hit overseas automakers hard, its boss said. VW group sales in China fell by 12% in the first nine months of this year amid the rising popularity of models made by domestic manufacturers. Toyota maintained its top spot in the world for the fourth consecutive year in 2023, selling 11.2 million vehicles globally — about 2 million more than the VW group. "We build cars in China for China; the same is happening in Europe and North America.

Persons: Thomas Schäfer, Schäfer, Axel Springer, Mary Barra, Wang He, Donald Trump's, Trump, Elijah Nouvelage Organizations: Volkswagen, VW, Welt, Business, General, Rival German, BMW, Mercedes, Benz, Audi, Porsche, Labor, Toyota Locations: China, Germany, Europe, Spain, Czech Republic, Portugal, Slovakia, USA, Mexico, Canada, Chattanooga , Tennessee, North America

☆ Who is Pam Bondi, Trump’s attorney general nominee
▼ + stars: | 2024-11-23 | by ( Hannah Rabinowitz | Evan Perez | ) edition.cnn.com time to read: +9 min

She was elected in 2011 to her first political position – Florida attorney general – and was the first woman to hold that office. “Knowing her as a trial attorney and the attorney general,” Colton told CNN, “I feel that she would be very qualified for this job.”Dave Aronberg, a Palm Beach County state attorney who worked for Bondi when she was attorney general in Florida, told CNN that while Bondi will carry out Trump policies loyally, she is likely to treat Justice Department employees fairly. And for Trump’s opponents, Aronberg said not to expect a better pick for attorney general. “Pam Bondi is the best attorney general that Donald Trump is going to nominate,” Aronberg said. Since leaving the Florida attorney general post in 2019, Bondi has worked Ballard Partners, a lobbying firm with deep ties to Trump and his incoming chief of staff Susie Wiles.

Persons: Donald Trump, Pam Bondi, Matt Gaetz, Trump, Bondi, Gaetz, Trump’s, Todd Blanche, ”, Dwight Gooden, –, Nick Cox –, University of South Florida –, ” Cox, “, Bruce Colton, ” Colton, ” Dave Aronberg, ” Aronberg, Aronberg, John Durham, “ Pam Bondi, Barack Obama’s, Joan Biskupic, John Roberts, Obama, Rick Scott, Ballard, Susie Wiles, baselessly, Joe Biden, Hunter Organizations: CNN, Trump, US Justice Department, Republicans, Justice Department, DOJ, Department of Justice, New York Mets, University of South, ”, Bondi, Obamacare, Reuters, Trump University, Ballard Partners, Foreign, Amazon, General Motors, Uber, Republican National Convention, White, Center, Litigation, Trump America, Policy Institute, Trump – Locations: Florida, Bondi, “, University of South Florida, Beach County, Russia, Washington, Qatar, Pennsylvania

☆ CNBC Daily Open: Expectations can move shares in strange ways — just look at Nvidia
▼ + stars: | 2024-11-22 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Markets digest Nvidia earningsU.S. markets rose on Thursday after digesting Nvidia's earnings release. [PRO] Stimulus boosting Chinese marketsChinese markets are "turning a corner" after the Beijing unleashed several stimulus measures to boost the economy, said HSBC . "The market has so far reacted positively to these initiatives,' analysts from HSBC wrote in a Nov. 19 note, in which they picked two Chinese stocks to hold for 2025.

Persons: Hong, Aftereffects, Gautam Adani, CNBC's Ganesh Rao Organizations: CNBC, U.S . Department of Justice, Google, Chrome, Nikkei, Bank of Japan, Reuters, Adani, Motors, Germany's Volkswagen, Nissan, HSBC Locations: Asia, Pacific, Japan, U.S, India, China, Beijing

☆ JaGUar? Luxury automaker defends controversial rebrand amid pivot to EVs
▼ + stars: | 2024-11-22 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

Jaguar new logo Courtesy: JaguarLuxury carmaker Jaguar has defended a rebrand that drew widespread criticism on social media this week. In a release, Jaguar said the media showcased its "dramatic new creative philosophy," branded "Exuberant Modernism," which will "inspire future vehicles." Three new electric models are expected from the company in the coming years, including a four-door GT car expected to have a six-figure starting price. We wanted to move away from traditional automotive stereotypes," Jaguar managing director Rawdon Glover told the Financial Times in an interview published Friday. A parked car featuring the existing Jaguar logo pictured on Monday, January 25, 202.

Persons: Jaguar, Gary Jenkins, they've, Rawdon Glover, Glover Organizations: Tata Motors, Rover, Facebook, CNBC, Jaguar, Miami Art, Financial Times, Nurphoto, Getty

☆ How the EV era is challenging leading engine maker Honda
▼ + stars: | 2024-11-22 | by ( Robert Ferris | In | ) www.cnbc.com time to read: +3 min

Honda is the world's largest engine manufacturer, powering about 27 million cars, motorcycles, generators, yard tools, airplanes, and other items. But it is struggling in some key regions, especially China, and it's challenged by the era of electric vehicles. Honda has been relatively slow to release models, and it has depended heavily on partners to keep up. Honda does have an in-house EV plan and its own platform. It's sinking $65 billion into EVs and software globally, including $11 billion in Canada and $3.5 billion for upgrades to facilities in the United States.

Persons: it's, Karl Brauer, they'd, Jake Fisher, Honda's, Gregory Noble Organizations: Honda, Acura, Ferrari, Lamborghini, Porsche, McLaren, Consumer, U.S, General Motors, Detroit, Toyota, University of Tokyo's Institute of Social Science Locations: U.S, China, Canada, United States

☆ Jaguar boss speaks out after backlash to the car brand's latest ad campaign — which didn't include any cars
▼ + stars: | 2024-11-22 | by ( Grace Eliza Goodwin | ) www.businessinsider.com time to read: +4 min

AdvertisementJaguar defended its rebranding campaign after online critics roasted a promotional video. The campaign, featuring models and no cars, was criticized as "woke." Jaguar's managing director is defending the British luxury-car maker's rebranding campaign — calling out some of its online critics and characterizing their reaction as "vile hatred" and "intolerance." (Most 2024 Jaguar models have list prices of about $50,000 to $80,000.) In response to the video posted on X by Jaguar, Musk wrote : "Do you sell cars?"

Persons: Jaguar's, Rawdon Glover, Brad Audet, —, Glover, India's Tata, Elon Musk, Andrew, Tristan Tate, Ian Miles Cheong, Musk, Nick Freitas, Bud Light, Bud, it's Organizations: Financial Times, Mazda, North America, Jaguar, Rover, Land Rover, India's, India's Tata Motors, Tesla, Republican, Delegates Locations: Virginia

☆ 3 of Trump's top cabinet-level picks recently worked as lobbyists, with clients ranging from Amazon to Qatar
▼ + stars: | 2024-11-22 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +5 min

Susan Wiles, Trump's incoming chief of staff, maintained ties to a lobbying firm until this month. Sean Duffy, Trump's pick for Transportation secretary, has lobbied for a group of major airlines. The EPA, under Obama, Trump, and Biden's administrations, have repeatedly opposed efforts to mine in the bay, home to one of the world's largest salmon fisheries. Starting not long after he left Congress in 2019, Duffy lobbied for Polaris, a US auto manufacturer known its off-road and recreational vehicles. ProPublica previously reported that Duffy lobbied White House trade adviser Peter Navarro as Polaris sought to win exemptions to tariffs on the parts it was importing.

Persons: Donald Trump's, Susan Wiles, Sean Duffy, Trump's, Donald Trump, Susie Wiles, Pam Bondi, Wiles, Duffy, Uber —, Bondi, Ballard, Trump, Jeff Hauser, Brian Ballard, Alaska . Sen, Lisa Murkowski, Obama, Peter Navarro, Ron Klain, Biden's, Fannie Mae, Steve Ricchetti, Biden, Jeff Ricchetti, Barack Obama, Hauser, Hauser isn't, " Hauser Organizations: Washington, Incoming White House, Amazon, GM, MetLife, Fidelity National Financial, Ballard Partners, Trump, Republican, The New York Times, Alaska ., Alaska Republican, Partnership, EPA, Federal Aviation Administration, United, Polaris, White, General Motors, Uber, Fidelity, North, Major League Baseball, Biden, Raytheon, Politico Locations: Florida, Riyadh, Saudi Arabia, Trump, Alaska, North America, Bondi, Washington

☆ Jeep was a hot brand. Then Stellantis priced its fans out of its showrooms
▼ + stars: | 2024-11-21 | by ( Chris Isidore | ) edition.cnn.com time to read: +7 min

New York CNN —The Jeep Gladiator was unveiled to great fanfare by then-owner Fiat Chrysler in 2018, the first pickup model for the hot brand in more than a quarter of a century. Gladiator sales have fallen steadily from the 2020 peak as a result and are down another 21% so far this year. The company’s relentless focus on short-term profits for 2023 had devastating consequences for Stellantis, Farris wrote. A car hauler transporting Jeep Wranglers drives past striking United Auto Workers members outside the Stellantis Jeep Plant in Toledo, Ohio, during the 2023 strike. One of the two factories at that assembly complex is about to lose one of the two shifts that builds the Jeep Gladiator.

Persons: Stellantis, Dodge, ”, Jessica Caldwell, Edmunds, “, Charlie Chesbrough, Kevin Farris, Carlos Tavares, Farris, Farris ’, Rebecca Cook, “ You’re, he’s, ” Farris Organizations: New, New York CNN, Fiat Chrysler, Fiat Chrysler’s, PSA Group, Gladiators, General Motors, Ford, Chrysler, Pacifica minivan, Toledo Assembly, Stellantis, Ford Motor, Cox Automotive, Dealers, Council, United Auto Workers, Jeep Wranglers, CNN, Challenger, Cherokee, Renegade Locations: New York, Toledo, Edmunds, Warren , Michigan, Stellantis, Toledo , Ohio

☆ Automakers Want Trump to Keep Federal E.V. Regulations in Place
▼ + stars: | 2024-11-21 | by ( Coral Davenport | Jack Ewing | ) www.nytimes.com time to read: +1 min

Three of the nation’s largest automakers, Ford, General Motors and Stellantis, are strategizing with other car manufacturers on how to make a delicate request of President-elect Donald J. Trump: Don’t scrap the federal regulations that compel the industry to sell electric vehicles. Mr. Trump has railed against the E.V. rules, which strictly limit the amount of tailpipe pollution while also ramping up fuel economy standards. Mr. Trump sees them differently. And Mr. Trump still holds grievances against some of the automakers, whom he views as having betrayed him because during his first term they supported Obama-era auto emissions rules.

Persons: Donald J, Trump, Biden’s, Obama Organizations: Ford, General Motors, Trump, Democratic

☆ 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

☆ Jaguar debuts its new branding in a video — and it's missing one thing: cars. It's getting roasted by some online.
▼ + stars: | 2024-11-20 | by ( Grace Eliza Goodwin | ) www.businessinsider.com time to read: +5 min

And some conservative personalities are calling out the company's new video ad for being too "woke." But that "exuberant modernism," particularly in the company's video ad, is being mocked by some people online. AdvertisementJaguar's new video ad features models in colorful, modern clothing, and doesn't show any cars. (Current Jaguar models left in their inventories will be sold as pre-owned, a company spokesperson previously told Business Insider.) Jaguar's new brand strategy was created by its own in-house design team, not an external agency, according to the UK's Creative Review.

Persons: Tesla's Elon, Tesla's Elon Musk, Gerry McGovern, Elon Musk, Musk, India's Tata, Ian Miles Cheong, Nick Freitas, Bud Light, Bud, Kevin Dahlstrom, it's, Martin Brundle, who's, they're Organizations: Jaguar, Rover, India's, India's Tata Motors, Conservative, Republican, Delegates Locations: Miami, EVs, Virginia

☆ Ram’s first electric truck has been delayed
▼ + stars: | 2024-11-20 | by ( ) edition.cnn.com time to read: +3 min

Reuters —Stellantis said on Tuesday it will deploy a new vehicle system that will support assembly of gasoline, hybrid and electric models, but in a sign of how turbulent the electric-vehicle transition is, the automaker also delayed production of Ram electric pickup trucks. Tavares said the automaker is delaying production of its electric Ram pickups until the first half of 2025 from this year, citing the need to ensure quality. The global industry faces even greater uncertainty around EV demand if U.S. President-elect Donald Trump carries out plans to unravel various incentives around EV production and sales. Battery electric vehicles on Frame will have up to 500 miles (805 km) of range, and it will offer a 14,000-pound (6,350-kg) towing capacity, the company said. It will also support hydrogen and extended-range electric vehicles.

Persons: Reuters — Stellantis, ”, Carlos Tavares, Tavares, Stellantis, Donald Trump, Ram Organizations: Reuters, Ford, General Motors, GM, Jeep, Battery Locations: Italian, Detroit, U.S, Europe, North America

☆ Ford cuts 4,000 jobs in Europe amid weak demand for EVs and rising competition
▼ + stars: | 2024-11-20 | by ( Chris Johnston | ) www.businessinsider.com time to read: +2 min

AdvertisementFord is cutting 4,000 jobs in Europe after "significant losses" in its passenger vehicle operations. The company also cited rising competition and weaker-than-expected demand for EVs. Ford CFO John Lawler called for joint industry action in a letter to the German government. Ford said it would cut 4,000 jobs in Europe by the end of 2027 amid rising competition and weaker-than-expected demand for EVs. Earlier this month, Japanese automaker Nissan announced 9,000 layoffs and a 20% cut in global production amid falling sales in the US and China.

Persons: John Lawler, Ford, Dave Johnston, Lawler Organizations: Ford, General Motors, Nissan, Dodge Locations: Europe, Germany, Cologne, EVs, Detroit, China

But one thing is missing from the storied British carmaker Jaguar's new rebrand: cars. In a press release accompanying its rebrand, Jaguar's chief creative officer, Sir Gerry McGovern, explained the thinking behind the rollout. Jaguar sold fewer than 67,000 cars in the entire world last year, approximately half the number it sold in the fiscal year incorporating the beginning of the Covid-19 pandemic. In response to other X users asking why the ad didn’t feature any cars, Jaguar’s X account responded, “The story is unfolding. That ethos is seen in our new brand identity today and will be further revealed over the coming months.

Persons: Bud Light's, Lulu Cheng Meservey, grads, Sir Gerry McGovern, Adrian Mardell, ”, Rawdon Glober Organizations: Rostra, Jaguar, Art, Rover, Tata Motors Locations: U.S, Art Basel, India

☆ Wall Street analysts explain why Tesla is booming postelection while other EV makers struggle
▼ + stars: | 2024-11-18 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

Pure-play electric vehicle stocks like Rivian and Lucid are flat and down more than 3%, respectively, since Trump's victory. So why is Tesla soaring even as a second Trump administration is expected to fundamentally disrupt the U.S. electric vehicle market? And increased tariffs could make inputs for electric vehicles more expensive. These headwinds ignore the fact that Trump's new best friend is Tesla CEO Elon Musk, Bernstein analyst Toni Sacconaghi told clients in a Monday note. But Tesla's fundamentals are largely steady postelection, while Musk's relationship with Trump underlines how Tesla largely controls the self-driving vehicle narrative, the analyst said.

Persons: Tesla, Donald Trump, Trump, Elon Musk, Bernstein, Toni Sacconaghi, Musk, Vivek Ramaswamy, Sacconaghi, Dan Levy, Levy Organizations: U.S, Ford, General Motors, Trump, GOP, UBS, Bloomberg News, Traffic, Administration, Barclays, Tesla Locations: Friday's

☆ 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

☆ GM lays off 1,000 employees amid reorganization and cost-cutting
▼ + stars: | 2024-11-15 | by ( Michael Wayland | ) www.nbcnews.com time to read: +1 min

DETROIT — General Motors laid off roughly 1,000 employees on Friday as the automaker attempts to cut costs and realign priorities amid changing market conditions, according to a person familiar with the decision. A small number of hourly employees were included in the layoffs. As part of this continuous effort, we’ve made a small number of team reductions. That included about 53,000 U.S. salaried employees. The United Auto Workers union, which represents hourly employees at the automaker, did not immediately respond for comment.

Persons: Kevin Kelly, we’ve, ” Organizations: DETROIT, Motors, GM, United Auto Workers union Locations: Detroit, Warren , Michigan

☆ Tesla's Chinese EV competitors are racing to build their own Optimus rivals
▼ + stars: | 2024-11-15 | by ( Tom Carter | ) www.businessinsider.com time to read: +3 min

Tesla's Chinese rivals are building their own humanoid robots to rival Tesla. EV startup Xpeng unveiled its Iron humanoid robot at its AI day event this month. The company said Iron was already deployed in its factories, joining BYD and Nio in using humanoid robots to build cars. AdvertisementTesla is facing fierce competition in China from local EV makers — and now they're building their own versions of Elon Musk's Optimus robot. AdvertisementThe scramble to incorporate humanoid robots comes as Elon Musk touts Tesla's Optimus robot.

Persons: Iron, —, Tesla, Elon, Xpeng, Ubtech, Walker, BYD, Elon Musk, Tesla's Organizations: Service, —, Aircraft, Dongfeng Motors, EV, Elon Locations: BYD, China, Tesla

☆ GM lays off 1,000 employees amid reorganization, cost-cutting
▼ + stars: | 2024-11-15 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

The GM logo is seen on the facade of the General Motors headquarters in Detroit on March 16, 2021. DETROIT – General Motors laid off roughly 1,000 employees on Friday as the automaker attempts to cut costs and realign priorities amid changing market conditions, according to a person familiar with the decision. The layoffs, which were announced Friday morning to those impacted, were across the business. A majority of the employees impacted were in suburban Detroit at the automaker's global technical center in Warren, Michigan, the person said. A small number of hourly employees were included in the layoffs.

Organizations: General Motors, DETROIT –, Motors Locations: Detroit, DETROIT, Warren , Michigan, China

☆ From clothes to computers, 6 things expected to get more expensive if Trump's trade plans are enacted
▼ + stars: | 2024-11-15 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +10 min

If implemented, Americans could see prices rise across several product categories. AdvertisementBased on analyses from economists and trade experts, here are the goods that could become more expensive for Americans under Trump's tariff proposals. AdvertisementSome retailers have already announced preparations to increase prices should Trump's tariff plans go into effect. AdvertisementGold said it's unlikely Trump's tariffs would go into effect on day one or day two, and "it's tough to say right now at what point consumers would feel the impact." AdvertisementA report from centrist think tank ThirdWay said that Trump's tariff proposals analyzed eight common purchases that the US either heavily imports or is unable to produce domestically.

Persons: Donald Trump, Trump, —, Mary Lovely, Lovely, There's, Joe Biden, Jonathan Gold, it's, Karoline Leavitt, Tim Boyle, Gold, Philip Daniele, Daniele, Shinji Aoyama, Henrik Elm, Elm, Taylor Rogers Organizations: Trade, Service, Peterson Institute for International Economics, Trump, Consumers, National Retail Federation, Retailers, Bank of America, Columbia, Washington Post, Electronics, Consumer Technology Association, CTA, Honda, General Motors, Ford, Inter Ikea —, Ikea, Reuters, NPR, International Trade Commission, Republican National Committee Locations: China, Mexico, Europe

☆ Trump may end the $7,500 EV tax credit. Elon Musk and Tesla would reap the rewards
▼ + stars: | 2024-11-15 | by ( Chris Isidore | ) edition.cnn.com time to read: +6 min

Tesla, the world’s largest maker of EVs, is the only automaker making a profit on its US EV sales. So if the EV tax credit goes away, the price of all EVs might come down. ‘It will only help Tesla’Musk signaled during the campaign that he would support ending the EV tax credit, even if raised the cost of Tesla purchases for American buyers. But the rest of the auto industry wants to keep the tax credit in place. He said that Tesla’s pricing and scale in the EV space “is an apples to oranges when compared to the rest of the auto industry once the EV tax credit disappears.”

Persons: Trump, Elon Musk, Donald Trump’s, Tesla, “, ”, Donald Trump, Jim Watson, Joe Biden’s, Biden, Garrett Nelson, Nelson, Dan Ives Organizations: New, New York CNN, Tesla, EV, Motors, Ford, Alliance, Automotive Innovation, Global, Real, Republican, Reuters, Trump, CNN, CFRA Research, “, Wedbush Securities Locations: New York, Butler , Pennsylvania, AFP, “, Detroit

☆ 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

☆ GM's newest EV is a Cadillac 'baby Escalade' called Vistiq
▼ + stars: | 2024-11-12 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

In this article GM Follow your favorite stocks CREATE FREE ACCOUNT2026 Cadillac Vistiq EV GMDETROIT — General Motors ' newest all-electric vehicle is a three-row SUV for its Cadillac luxury line, which the brand is dubbing a "baby Escalade." The 2026 Cadillac Vistiq will be the last in a lineup of new EVs in the brand's portfolio when it goes into production and arrives in dealer showrooms beginning in 2025. 2026 Cadillac Vistiq EV GMBrad Franz, Cadillac director of marketing, described the new vehicle as being closer to a "baby Escalade" than a larger version of the Lyriq, which was the brand's first EV, in 2022. The Vistiq will be sold globally, including in the U.S. and Canada, with production starting in early 2025 at GM's Spring Hill Manufacturing plant in Tennessee. 2026 Cadillac Vistiq EV GM

Persons: Brad Franz Organizations: EV GM DETROIT —, Motors, EV Locations: U.S, Canada, Tennessee

☆ How the Trump administration will add large benefits to Tesla, justifying postelection run, per Deutsche Bank
▼ + stars: | 2024-11-12 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Deutsche Bank anticipates more tailwinds ahead for Tesla under the incoming Trump administration. TSLA YTD mountain Shares this year Musk is already making strides in his alliance with Trump. ), we see potential large terminal value benefits to Tesla's efforts in auto, robotaxi, and even humanoid robotics," wrote Yu. Yu views China as the biggest potential uncertainty for Tesla as the Trump administration touts tariffs on goods from the world's second-largest economy. A repeal of the Biden administration's Inflation Reduction Act could also benefit shares of Tesla and give it an edge over legacy automakers General Motors and Ford.

Persons: Trump, Elon's Musk, Donald Trump, bode, Edison Yu, JD Vance, Yu, Tesla Organizations: Deutsche Bank, Tesla, Trump . Deutsche Bank, Trump, White House, Biden, General Motors, Ford Locations: China

☆ Trump's tariffs will make it hard for automakers — including Tesla — to set up shop in Mexico
▼ + stars: | 2024-11-11 | by ( Tom Carter | ) www.businessinsider.com time to read: +7 min

Analysts said tariffs on cars imported from Mexico would have dire consequences for US automakers. Tesla announced in March 2023 that it was planning to build its seventh gigafactory near the industrial hub of Monterrey, Mexico. Trump vowed to clamp down on automakers building cars in Mexico on the campaign trail, and the prospect of new tariffs could force US automakers such as Tesla to make some hard choices about operational or planned factories in Mexico. Analysts told BI that the tariffs floated by Trump would deter automakers such as Tesla from investing in Mexico. Other automakers have expanded their presence in Mexico, despite the uncertainty of the election and the prospect of tariffs under a second Trump term.

Persons: Donald Trump, Elon Musk, —, Tesla, Trump, It's, Donald Trump's, Alex Brandon, Musk, Sam Fiorani, Fiorani, Ford, David Whiston, Scott Olson, BYD, Stephanie Brinley, Alanis King, Brinley, Stellantis Organizations: Service, Mexico —, AP, UBS, Trump, AutoForecast Solutions, General Motors, Ford, Getty, Toyota, Tacoma, Nissan, Volkswagen, BYD, Chrysler, Street Journal, BMW, P Global, Toyota Tacoma, GM Locations: Mexico, Monterrey, Detroit, United States, Cuautitlan, Toluca, San Luis Potosí

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