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☆ He bought a KFC store in Australia for $100,000 in 1969. Today, his fast food company is worth over $3 billion
▼ + stars: | 2024-12-09 | by ( Ernestine Siu | In Ernestinesiu | ) www.cnbc.com time to read: +5 min

Jack Cowin, founder and chariman of Competitive Foods Australia. Courtesy of Jack CowinAs a kid, Jack Cowin shoveled snow, delivered newspapers and sold Christmas cards for cash. Cowin is the founder and chairman of Competitive Foods Australia, the company that operates Burger King as "Hungry Jack's" in Australia. Then in 2013, he sold off his KFC franchise of 55 stores in a deal worth about $71 million, according to a representative at Competitive Foods Australia. Jack Cowin Founder and Chairman, Competitive Foods Australia

Persons: Jack Cowin, Jack's, Cowin, I've Organizations: Competitive Foods, Kentucky, KFC, CNBC, Ford Motor Company, University of Western, Kentucky Fried, Burger King, American KFC Locations: Burger, Australia, Canada, Brazil, Mexico, University of Western Ontario, Kentucky, North America, American

☆ 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

☆ ‘Ernest Cole: Lost and Found’: The anti-apartheid photographer who turned his lens on Black America
▼ + stars: | 2024-11-26 | by ( Thomas Page | ) edition.cnn.com time to read: +10 min

“He left South Africa and resettled in the United States in 1966,” it ends, before listing his survivors. The image, taken by South African photographer Ernest Cole, is one of thousands taken during his time in exile in the United States. Not looking for an impression but authenticity, he cast the American actor over a South African. Courtesy Magnolia PicturesIn the film, Cole despairs, “exile is destroying us one by one.”“You leave your country heartbroken,” the director said. Inside were around 60,000 Cole negatives, spanning South Africa and the US, plus his notes and contact sheets.

Persons: Ernest Cole, Cole, Nelson Mandela, Cole’s, “, ”, Muhammad, Raoul Peck, LaKeith Stanfield, “ Ernest Cole, Peck, James Baldwin, Patrice Lumumba, ‘, Stanfield, it’s, Magnolia Pictures Cole, Jim Crow, ” Peck bristled, It’s, ” –, Hébert B, Peck – “, Cole despairs, I’ve, Leslie Matlaisane, Ernest Cole Family, SEB, — Organizations: CNN, New York Times, “, Islam, Cannes Film, Aperture, Democratic, Magnolia, Magnolia Pictures, Ford Foundation, Liberal, ANC, African National Congress, SWAPO, Ernest Cole Family Trust Locations: Manhattan , New York, South Africa, South, United States, New York City, African, Haitian, American, Democratic Republic of Congo, DRC, Pretoria, New York, Harlem, Black America, Haiti, France, Berlin, Brazil, Nicaragua, —, York City, “, Africa, Sweden, America, Swedish, ”

☆ 2 Missouri teens killed in crash with suspect who had kidnapped 1-year-old in car as he fled police
▼ + stars: | 2024-11-20 | by ( Doha Madani | Doha Madani Is A Senior Breaking News Reporter For Nbc News. Pronouns | She Her. | ) www.nbcnews.com time to read: +2 min

Two teenagers were killed and a third was hospitalized in a car crash over the weekend while authorities pursued a man suspected of kidnapping a baby. She told authorities that the "man was suicidal and homicidal," the sheriff's office said. Fremont County deputies and troopers with the Iowa State Patrol chased the Kia in a pursuit that crossed over into Missouri, the sheriff's office said. According to the accident report, the suspect driving the Kia was killed in the crash. "In times of sorrow, I offer my deepest sympathies to the Cunningham and Yeates families," Mayor Randy Pogue said in a statement on Facebook.

Persons: Kia, Aubrey, Lucy Yeates, Kole Cunningham, Lucy, Kole, KSHB, Billie Eilish, Cunningham, Yeates, Randy Pogue Organizations: Office, Iowa State Patrol, Kia, Ford, Highway Patrol, NBC News, Kearney, Facebook Locations: Iowa, Fremont County, Nebraska, Hamburg , Iowa, Fremont, Missouri, Kearney , Missouri, Omaha

☆ Ford to cut 14% of European jobs, blaming EV shift and rising competition
▼ + stars: | 2024-11-20 | by ( ) www.cnbc.com time to read: +2 min

Ford Explorer electric cars are parked on car transporters on the Ford factory premises. It is the first electric car from Ford in Europe. The US car manufacturer Ford wants to cut 2,900 jobs in Germany by the end of 2027 in order to reduce costs. Ford said on Wednesday it would cut around 14% of its European workforce, blaming significant losses in recent years compounded by weak demand for electric vehicles, a lack of government support for the shift to EVs, and rising competition. The European Union has slapped tariffs on Chinese-made EVs, saying they benefit from unfair subsidies from China's government.

Persons: Ford, Donald Trump, John Lawler Organizations: Ford, Nissan, Volkswagen, European Locations: Ford, Europe, Germany, U.S, China, United Kingdom, Berlin

☆ Ford to lay off 4,000 workers in Europe
▼ + stars: | 2024-11-20 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

London CNN —Ford plans to cut almost 4,000 jobs in Europe over the next three years, about 14% of its workforce in the region, as the carmaker faces slowing demand for electric vehicles and rising competition from China. “The global auto industry continues to be in a period of disruption, especially in Europe, where the industry faces unprecedented competitive, regulatory and economic headwinds,” Ford said in a statement. Last year, the company said it would axe around 4,900 jobs across Europe. The news of the Ford cuts comes just weeks after Volkswagen said it would trim employee pay by 10% to protect jobs and safeguard the company’s future. The German automaker plans to close at least three factories in its home country and lay off tens of thousands of staff as it grapples with a weak car market in Europe and a steep loss of market share in China.

Persons: London CNN — Ford, ” Ford, Dave Johnston, Ford, ”, John Lawler, ” Lawler Organizations: London CNN, ” Global, Ford, Volkswagen Locations: Europe, China, Germany, United Kingdom, Western

Ford Motor Company has agreed to pay $165 million, the second-largest auto penalty ever issued by the National Highway Traffic Safety Administration, to settle charges it failed to comply with federal recall requirements. “The total civil penalty amount of $165 million is second only to the Takata airbag consent order in the agency’s 54-year history,” the NHTSA said in a statement. The Ford penalty stems from a multi-year investigation into the automaker's handling of defective rollover safety cameras on a number of its models, including its popular F-150 trucks and Explorer SUVs. In a statement, Ford said it disagreed with NHTSA's findings but that it was pleased to administratively settle the dispute with the regulator. Power's "initial quality" report earlier this year as a sign the company is making progress on addressing those issues.

Persons: Ford, Sophie Shulman, ” Ford, Jim Farley, Farley Organizations: Ford Motor Company, National, Traffic Safety Administration, NHTSA, Ford, Barclays Locations: J.D

☆ Ford fined up to $165 million over delayed vehicle recalls
▼ + stars: | 2024-11-14 | by ( Erika Tulfo | ) edition.cnn.com time to read: +3 min

CNN —Ford is being fined up to $165 million after the National Highway Traffic Safety Administration ruled the company moved too slowly in recalling cars with faulty rearview cameras. The agency’s consent order says Ford failed to issue a “timely recall” and did not submit quarterly reports on time. The models covered by the Ford recall included the 2020 Ford Edge, Escape, Expedition, Explorer, F-150, Mustang, Ranger and Transit, as well as the Lincoln Corsair and Nautilus. Of the $165 million civil penalty fined by NHTSA, Ford must immediately pay $65 million up front. Ford and the NHTSA will meet quarterly to ensure its compliance with the terms of the consent order.

Persons: CNN — Ford, Ford, Maria Buczkowski, Sophie Shulman Organizations: CNN, Traffic Safety Administration, NHTSA, Ford, Lincoln Corsair, Nautilus

☆ Ford October vehicle sales increase 15.2% from subdued levels due to labor strike in 2023
▼ + stars: | 2024-11-04 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

The new Ford F-150 truck goes through the assembly line at the Ford Dearborn Plant on April 11, 2024 in Dearborn, Michigan. DETROIT — Ford Motor on Monday reported a 15.2% increase in U.S. new vehicles sales last month compared with subdued levels due to a union strike in October 2023. The automaker's sales gain outpaced the industry's estimated increase of 10% last month compared with a year earlier. Sales of hybrid vehicles, which Ford has been emphasizing amid a slower-than-expected adoption of electric vehicles, were up 38.5% last month compared to October 2023, Ford said. Its EV sales were down by 8.3%, while sales of traditional vehicles with internal combustion engines were up 14.1%Ford's EV sales remain up 38.2% for the year through October compared with the same timeframe in 2023.

Persons: Ford, EVs Organizations: Ford, Ford Dearborn Plant, United Auto Workers, EV, Ford's Locations: Dearborn , Michigan, DETROIT

☆ Harris vs. Trump: Auto insiders weigh in on both candidates, top issues
▼ + stars: | 2024-10-29 | by ( Michael Wayland | ) www.cnbc.com time to read: +11 min

Electric vehicles, trade, tariffs, China, emissions regulations and labor are among the top issues automakers are monitoring, according to industry executives and policy experts. Harris vs. TrumpOfficials expect a Harris victory to be a continuation, but not a copy, of the past four years under Biden. Republican presidential nominee and former U.S. President Donald Trump speaks as he visits a campaign office in Hamtramck, Michigan, U.S. October 18, 2024. Republicans, led by Trump, have largely condemned EVs, saying that they are being forced upon consumers and that they will ruin the U.S. automotive industry. LaborOf the many issues regarding the automotive industry, officials who spoke to CNBC were nearly unanimous regarding labor: They're concerned a Harris win would continue to mean increased power for organized labor.

Persons: Bill Pugliano, Kamala Harris, Donald Trump, Joe Biden, Harris, Jefferies, Philippe Houchois, Biden, Shawn Fain, Drew Angerer, Brian Snyder, —, Elon Musk's, Trump, Pablo Di Si, EVs, Harris hasn't, Peter Rawlinson, Rawlinson, That's, Trump's, USMCA, Mary Barra, hasn't, Fain Organizations: Ford, Ford Dearborn Plant, Getty, DETROIT, Motor, Great, Trump, CNBC, Trump Officials, United Auto Workers, Democratic, International Union of Painters, AFP, Republican, Reuters, Motors, Ford Motor, Chrysler, EV, Lucid, Tesla, California Air Resources, D.C, District of Columbia, Alliance for Automotive Innovation, U.S . Officials, IRA Electric, Volkswagen Group of America, Automotive, Republicans, Environmental Protection Agency, . North, North American Free Trade, Jefferies, Labor, Democratic National Convention, UAW Locations: Dearborn , Michigan, Michigan, Motor City, Great Lakes State, China, Macomb , Michigan, California, Hamtramck , Michigan, U.S, Detroit, Washington , Oregon, New York, Washington, . North American, United States, Mexico, Canada, American

☆ 2 New Jersey restaurateurs turned a Cybertruck into a mobile pizza oven — and they want to cook for Elon Musk
▼ + stars: | 2024-10-27 | by ( Tom Carter | ) www.businessinsider.com time to read: +5 min

The owners say they're huge Tesla fans, and want to one day cook pizza for Elon Musk. AdvertisementA pizzeria in New Jersey has transformed two Cybertrucks into pizza trucks, using one of the Tesla vehicle's most futuristic features to cook pizzas on the go. They wanted new vehicles to relieve the strain on their gasoline pizza truck, which the two partners say was frequently booked months in advance. Now, they say they are facing a huge wave of demand for their Cybertruck pizza trucks, which they've modified to cook pizzas at parties and events. Like other electric vehicles, including the Ford F-150 Lightning, the Cybertruck has bidirectional charging, allowing it to become a mobile power source for appliances and even other electric vehicles.

Persons: Tesla, —, Fabio Antonio Arbelaez, Ryan McDermott, McDermott, Elon Musk, Hurricane Helene, Elon, Arbelaez, aren't, I've Organizations: Elon, Service, Columbia, Ford, EV, Tesla, Austin Locations: Jersey, New Jersey, Columbia, Florida, Hurricane, Colombia, Texas

☆ Volkswagen's Scout Motors reveals first EVs as it shifts to include plug-in hybrids
▼ + stars: | 2024-10-24 | by ( Michael Wayland | ) www.cnbc.com time to read: +6 min

However, slower-than-expected adoption of EVs and higher costs have led it to change course and include extended-range electric vehicles, or EREVs. Scout Terra pickup truck conceptKeogh said Scout added EREVs to better protect the brand from any market volatility amid less-than-expected consumer demand for EVs. Interior of Scout Traveler SUV concept ScoutBoth the Traveler and Terra are expected to start between $50,000 and $60,000 with available incentives, according to Scout. It's larger than Jeep's well-known Wrangler, which is currently available as a plug-in hybrid electric vehicle. Scout Traveler SUV concept

Persons: Scott Keogh, Keogh, Scout, Ford, Stellantis Organizations: Scout, NASHVILLE, — Volkswagen, Scout Motors, CNBC, EV, Lucid, VW, International, American, Ford Bronco, Toyota Land, Ford, General Motors Locations: Tenn, American, U.S, South Carolina, Scout's South Carolina, Canada, U.S ., Nashville , Tennessee

☆ The index fund cushion is an equal opportunity booster for stocks
▼ + stars: | 2024-10-20 | by ( Jim Cramer | ) www.cnbc.com time to read: +12 min

S & P 500 money is oblivious to stock valuations of any kind and ignorant to upgrades and downgrades. The Lilliputian sellers regularly fail to do damage when matched with the oblivious index money. A 4% 2-year note isn't competitive to the magnet of the S & P 500 and its kin. That's emblematic of what happens with a big buyback without stock-based compensation (something many tech firms use that renders moot the S & P 500 inflows). Because of the way that the S & P 500 money is divvied up, the share base becomes overwhelmingly index-fund based and the index fund shareholders do not sell.

Persons: Morningstar, Smoot, Herbert Hoover's, Warren Buffett, Buffett, Jerome Powell, haven't, Charlie Scharf, Wells, Banks, Charlie, Morgan Stanley, Ted Pick, James Gorman, Schwab, Gamble, Jim Umpleby, that's, Butch Cassidy, Jim Cramer's, Jim Cramer, Jim, Charles Scharf, Kyle Grillot Organizations: Federal Reserve, Commerce Department, Taiwan Semi, Trust, Fed, Triple AAA Robinhood, Morgan, Procter, United Airlines, Exxon, Caterpillar, Boeing, Apple, Meta, Sundance, Jim Cramer's Charitable, CNBC, Milken Institute Global Conference, Bloomberg, Getty Locations: Hawley, McCumber, Taiwan, Arizona, American, Wells Fargo, Wells, China, Chevron, Beverly Hills, Calif

☆ From missile batteries to oil refineries to nuclear labs, Israel could hit a wide range of targets in Iran
▼ + stars: | 2024-10-03 | by ( Dan De Luce | Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Courtney-Kube-Circle-Byline-Template.Jpg | ) www.nbcnews.com time to read: +7 min

If Israel decides to go that route, it remains an open question what parts of Iran’s oil sector Israel would try to attack. An attack on Iran’s oil industry could drive up oil prices and jolt the global economy. NuclearBiden said this week that the U.S. opposed any strikes on Iran’s nuclear program. Iran denies it has ever sought to build nuclear weapons and says its nuclear program is designed for civilian purposes. A 2015 nuclear agreement between Iran and world powers limited Iran’s nuclear project in return for an easing of economic sanctions.

Persons: Israel, Iran’s, ”, Monica Alba, Joe Biden, “, ” Biden, Fatemeh Bahrami, Nuclear Biden, Benjamin Netanyahu, Donald Trump Organizations: U.S, Energy, NBC News, Persian Gulf, Nuclear, Getty, of Atomic Scientists Locations: Iran, Tehran, Israel, Strait, Hormuz, Persian, U.S, Persian Gulf Star, Bandar Abbas, Fordow, Isfahan, Khondab, Iranian

☆ Ford's third-quarter sales up 0.7% as GM overtakes it in EVs
▼ + stars: | 2024-10-02 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

A banner advertises the Ford Mustang Mach-E electric vehicle at a Ford dealership on August 21, 2024 in Glendale, California. DETROIT – Ford Motor lost its lead in electric vehicle sales to crosstown rival General Motors during the third quarter, as the automaker's EV growth slowed. Ford on Wednesday reported a 0.7% increase in third-quarter U.S. new vehicle sales, including a 12.2% increase in EVs compared with a year earlier. The third-quarter results for Ford contributed to a 45% increase in EV sales this year through September to 67,689 units. The South Korean automaker remains a distant second in U.S. EV sales to market leader Tesla .

Persons: Ford, Tesla Organizations: Ford, Ford Motor, Motors, GM, Hyundai, Kia, South Korean Locations: Glendale , California, DETROIT, EVs, U.S

☆ Kathryn Crosby, actor and widow of Bing Crosby, dies at 90
▼ + stars: | 2024-09-21 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Variety-Live-Blog-Byline-Image.Png | ) www.nbcnews.com time to read: +2 min

Kathryn Crosby, the actress, singer and widow of Bing Crosby, died Friday evening of natural causes at her home in Hillsborough, Calif. She was 90. Crosby appeared frequently on Bing Crosby’s “Merrie Olde Christmas” specials and hosted “The Kathryn Crosby Show,” a 30-minute talk show based in San Francisco. Following the death of her husband in 1977, she performed in several stage productions such as the 1996 Broadway revival of “State Fair.”Bing Crosby and Kathryn Crosby in 1975 in Sunningdale, England. Anwar Hussein / Getty Images fileCrosby also hosted the charitable Crosby National Golf Tournament in Bermuda Run, North Carolina for many years. She met Bing Crosby while conducting interviews for her column on the set of the film “White Christmas.” The two married in 1957.

Persons: Kathryn Crosby, Bing Crosby, Crosby, ”, Ball, Kathryn Grant, Kathryn Grandstaff, Bing Crosby’s, ” Bing Crosby, Anwar Hussein, William Holden, Harry, Mary, Nathaniel, Sarah, Cyrano de Bergerac, ” “ Ben Casey ”, Bob Hope, “, George Sanders, ” “ Mister Cory, Joe Aladdin, ” “ Hanrahan Organizations: Wild Party, University of Texas, Austin, Hollywood, Chrysler Theatre, George Sanders Mystery, Ford Television Theatre Locations: Hillsborough, Calif, San Francisco, Sunningdale, England, Bermuda, , North Carolina, Rico, Petticoat

☆ China's growing aircraft carrier fleet is set to narrow the gap with the US Navy in carrier superiority
▼ + stars: | 2024-09-10 | by ( Hope Seck | Sandboxx News | ) www.businessinsider.com time to read: +6 min

Read previewHistorically, the US aircraft carrier fleet has been a showcase of American military superiority. "If all [China] wanted to do was protect [its] coastline, which is what they did for a long time, they wouldn't need aircraft carriers. He predicted that the US would see Chinese carriers operating off the coasts of California and Mexico within a decade. Russia's only aging aircraft carrier, the Adm. Kuznetsov, has been in service-life-extension overhaul since 2017. "Aircraft carriers exist because airplanes are useful.

Persons: —, Gerald R, J, Michael Dahm, Peter W, Singer, Bryan McGrath, McGrath, Dwight D, Eisenhower, Kuznetsov Organizations: Service, US, Navy, Business, Nimitz, Ford, DefenseOne, Sandboxx News, Hamas, Carrier, Aircraft, Sandboxx Locations: Spain, Turkey, South Korea, China, Fujian, Liaoning, Philippines, Thailand, Japan, Korea, Australia, Israel, Gaza, California, Mexico

☆ When Do Women Have the Right to Kill in Self-Defense? - The New York Times
▼ + stars: | 2024-09-04 | by ( Rachel Louise Snyder | ) www.nytimes.com time to read: +45 min

Mr. Ford kept their daughter at home to ensure Ms. Ford wouldn’t tell anyone in the emergency room how Robert’s injury happened. Ms. Ford, now 65, is serving a sentence of life without parole at the Central California Women’s Facility in Chowchilla. Leigh Goodmark, the author of the book “Imperfect Victims,” said that self-defense law imagines two parties of equal strength, size, weight and physical capability. But where self-defense law really fails to capture a woman’s experience is around the question of imminence. For women like Ms. Ford, Ms. Ayobi and many others, killing their way out of a relationship was an act of salvation — for themselves, for their children.

Persons: Anita Ford, Barry Ford, They’d, Robert, they’d, she’d, didn’t, wouldn’t, Ford, Ford’s, ” Mr, Debra Gomes, “ It’s, ”, I’m, —, George Wright, Wright, — Lionel Cashman, John Aldridge —, Aldridge, Cashman, Ms, “, Theresa Jones, Caroline Light, Michal Goldstein, Agatha Nyarko, they’ve, Cynthia Gillespie, doggedly, Gillespie, Leigh Goodmark, Nancy Grigsby, She’s, ” Ms, Grigsby, she’s, Shajia Ayobi, Ghulam Ayobi, Ayobi, Masiula, he’d, Debbie Mukamal, Andrea Cimino, what’s, proctors, proctor, we’d, Weeks, Miranda Gallegos, Janeen Snyder, Debby Saravia, Jamie Monroe, Malinda Jones, Mukamal, We’re, Lenore Walker, Walker, Karla Porter, Porter, It’s, Michal Buchhandler, Raphael, Mary Anne Franks, shouldn’t, Angelique Lyn Lavallee, Kevin Rust, Bertha Wilson, ’, Justice Wilson, Elizabeth Sheehy, George Zimmerman, Kyle Rittenhouse Organizations: Defense, Fords, Stanford, School’s Criminal, Center, Central, Central California Women’s, National Commission, An Ohio Supreme, Northwest Women’s Law Center, Violence Network, Ford, Stanford Criminal Justice Center, California Institution, Women, Research, Widener University, George Washington University, University of Ottawa Faculty of Law Locations: United States, Central California, Chowchilla, Mexico, Huntington Beach, Calif, Lakewood, An Ohio, Florida, Seattle, Ohio, Afghanistan, Sacramento, Canada, California, manila, Chino Hills, Los Angeles, D.U.I.s, San Jose, Maryland, New York , California, Oklahoma

☆ 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

☆ 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, ”

☆ Why Ford believes its $1.9 billion shift in EV strategy is the right choice for the company, investors
▼ + stars: | 2024-08-23 | by ( Michael Wayland | ) www.cnbc.com time to read: +7 min

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

☆ Elon Musk initially said the Cybertruck would cost from $39,900. Now, you can't buy it for much less than $100,000.
▼ + stars: | 2024-08-12 | by ( Tom Carter | ) www.businessinsider.com time to read: +1 min

The cheapest Cybertruck available right now is $100,000. Tesla quietly removed the option to order planned cheaper versions of the pickup. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementWhen Elon Musk first unveiled Tesla's Cybertruck in 2019, he touted the futuristic pickup as a competitor to the Ford F-150 with a starting price of $39,900. Tesla has quietly removed the option to preorder the rear-wheel and all-wheel drive versions of the Cybertruck, according to an archived version of its website.

Persons: Tesla, —, Elon Musk, Tesla's Organizations: Service, Ford, Business

☆ Americans just can’t quit their giant, gas-burning trucks
▼ + stars: | 2024-08-07 | by ( Chris Isidore | ) edition.cnn.com time to read: +7 min

A ‘harsh reality’ for EVsFord likes to brag about its growing EV sales, but its profit is still primarily coming from the sales of gasoline powered trucks and SUVs. Ford isn’t the only automaker pulling back on its EV plans and making new investment in ICE vehicles. This is not to say that the traditional automakers are dropping their EV plans altogether or that EV sales are falling. But EV sales, which initially grew at a double-digit pace, haven’t shot up exponentially as automakers hoped or expected. That uncertainty about the future of US EV incentives prompted automakers to reconsider their earlier EV plans.

Persons: Ford, ” Ford, Jim Farley, hasn’t, EVs Ford, ”, Ivan Drury, Mary Barra, EVs, Stellantis, haven’t, Tesla, Donald Trump, Elon Musk, Carlos Tavares Organizations: New, New York CNN, EVs, Canadian, Ford, Super, Kentucky, Super Duty, Ford’s, Ford Expedition, GM, ICE, United Auto Workers, “ Locations: New York, Oakville , Ontario, Toronto, Mexico, Oakville, Kentucky, Ohio, EVs, United States, Edmunds, North America, Europe

☆ Ford turns 'dirty' business into a profit driver. GM and Stellantis are taking notice
▼ + stars: | 2024-08-05 | by ( Michael Wayland | ) www.cnbc.com time to read: +10 min

Many fleet sales, especially daily rentals, have historically been viewed as a negative for auto companies. But Ford has proven that's not always the case by breaking out financial results for its "Ford Pro" fleet business. Ram, GM retoolAs Ford touts its fleet business, its closest rivals have amped up their operations. It launched "GM Envolve" last year, its overhauled fleet and commercial business focused on fleet sales, digital telematics and logistics for commercial customers. EV goalsGM Envolve includes the company's EV commercial business BrightDrop, which was folded back into the automaker last year instead of it acting as a subsidiary.

Persons: Mark Hazel, It's, Ford, Ferrari, Jim Farley, Wolfe, Joe White, Farley, BofA's John Murphy, Ram, Christine Feuell, Stellantis, Ram Ram, Ken Kayser, Sandor Piszar, Motors, Piszar, EV600 Organizations: Ford DETROIT, U.S, automakers, Ford Motor, General Motors, Chrysler, P Global Mobility, Ford, Ford Pro, Wolfe Research, North, GM, Ford Super Duty, Reuters, GM retool, CNBC, Software, Stellantis, GM Envolve, Sierra, GM Fleet, EV Locations: Dearborn , Michigan, U.S, North America, Europe, Kentucky, Louisville , Kentucky, Stellantis, Detroit

☆ The US Navy is on its fourth aircraft carrier as its warships react to fighting in the Middle East
▼ + stars: | 2024-08-05 | by ( Jake Epstein | ) www.businessinsider.com time to read: +4 min

Read previewThe US Navy is sending another aircraft carrier to the Middle East. AdvertisementThe aircraft carrier USS Abraham Lincoln, right, follows the guided missile cruiser USS Cape St. George as the ships transit the Strait of Hormuz in May 2012. A carrier strike group consists of a carrier, its air wing, and other warships like destroyers and cruisers. The US also deployed the Dwight D. Eisenhower Carrier Strike Group to the Eastern Mediterranean as regional tensions flared. It then pivoted to the Middle East to defend merchant shipping lanes in the Red Sea and Gulf of Aden from Houthi attacks.

Persons: —, Abraham Lincoln, Israel, It's, Lincoln, George, Alex R, Forst, Gerald R, Dwight D, Eisenhower, Theodore Roosevelt Carrier, Roosevelt Organizations: Service, US Navy, Pentagon, Saturday, Abraham Lincoln Carrier Strike, Business, Hamas, Ford Carrier Strike Group, Israel, US, Eisenhower Carrier Strike Group, Ford, Eisenhower, AP, Theodore Roosevelt Carrier Strike, Lincoln, USNI, Fleet, Department of Defense, US Central Command, Command Locations: Israel, Iran, Tehran, Cape St, Hormuz, Gaza, Yemen, Lebanon, Iraq, Syria, Gulf, Aden, Persian, United States

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