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☆ Tesla shares jump on profit beat, Elon Musk's prediction of at least 20% 'vehicle growth' next year
▼ + stars: | 2024-10-24 | by ( Lora Kolodny | ) www.nbcnews.com time to read: +6 min

Automotive revenue increased 2% to $20 billion from $19.63 billion in the same period a year earlier and is about flat since late 2022. Energy generation and storage revenue soared 52% to $2.38 billion, while services and other revenue, which includes revenue from non-warranty repairs of Tesla vehicles, jumped 29% to $2.79 billion. Earlier this month, Tesla reported third-quarter vehicle deliveries of 462,890. While deliveries increased 6% from a year earlier, they fell shy of analysts’ expectations and followed two straight quarters of year-over-year declines. “Despite ongoing macroeconomic conditions, we expect to achieve slight growth in vehicle deliveries in 2024,” the company said in its earnings deck Wednesday.

Persons: Tesla, Elon Musk, FactSet, Musk, ” Tesla, “, Kelley, Vaibhav Taneja, Li Auto, Donald Trump, Trump, doesn’t Organizations: Revenue, Energy, that’s, California Public Utilities, Li, Ford, General Motors, Trump, Nasdaq Locations: Texas, California, Bay, U.S, China, Harrisburg , Pennsylvania

☆ Alexandr Wang Gets Data Ready to Power the Generative AI Revolution
▼ + stars: | 2024-10-24 | by ( Sri Muppidi | ) www.businessinsider.com time to read: 1 min

Wang is the CEO and cofounder of Scale AI, a data-labeling company valued at $13.8 billion. The company employs contractors to annotate training data essential for developing AI models. The company initially focused on data labeling for autonomous vehicles but has since expanded to power the generative AI boom, working with prominent startups such as OpenAI. Before founding Scale AI, Wang was an algorithm developer at Hudson River Trading and held software-engineering roles at Quora and Addepar. See Business Insider's full AI Power List

Persons: Wang Organizations: Trading Locations: Hudson

☆ Tesla shares jump on profit beat, Musk's prediction of at least 20% 'vehicle growth' next year
▼ + stars: | 2024-10-23 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +6 min

Net income rose to about $2.17 billion, or 62 cents a share, from $1.85 billion, or 53 cents a share, a year ago. Profit margins were bolstered by $739 million in automotive regulatory credit revenue during the quarter. Automotive revenue increased 2% to $20 billion from $19.63 billion in the same period a year earlier and is about flat since late 2022. Energy generation and storage revenue soared 52% to $2.38 billion, while services and other revenue, which includes revenue from non-warranty repairs of Tesla vehicles, jumped 29% to $2.79 billion. "Despite ongoing macroeconomic conditions, we expect to achieve slight growth in vehicle deliveries in 2024," the company said in its earnings deck Wednesday.

Persons: Elon Musk, Tesla, FactSet, Musk, Kelley, Vaibhav Taneja, Li Auto, Donald Trump, Trump, doesn't Organizations: LSEG, Energy, that's, California Public Utilities, Li, Ford, General Motors, Trump, Nasdaq Locations: Los Angeles , California, U.S, Texas, California, Bay, China, Harrisburg , Pennsylvania

☆ Here’s why China has been testing its autonomous car technology in the U.S. for years
▼ + stars: | 2024-10-23 | by ( Magdalena Petrova | ) www.cnbc.com time to read: +3 min

Chinese companies are aggressively developing autonomous vehicles. In August, China announced that it had issued 16,000 test licenses for driverless cars and opened up about 20,000 miles of roads nationwide for autonomous vehicle testing. But Chinese autonomous vehicle companies have also quietly been testing their technology on U.S. streets. Michael Dunne, CEO and founder of consulting firm Dunne Insights, told CNBC that China had "carte blanche" when it comes to testing AVs in California. Missy Cummings, a former senior safety advisor to the National Highway Traffic Safety Administration, told CNBC the ban was a good start.

Persons: Didi, WeRide, Michael Dunne, Dunne, Let's, Missy Cummings, Cummings, Marc Veasey, Biden Organizations: Baidu, California Department of Motor Vehicles, CNBC, Apple, U.S, National, Traffic Safety Administration Locations: China, California, Silicon, Texas, U.S, California , Nevada, Utah, United States

☆ Uber CEO says competing with Elon Musk is 'no easy matter' — and would love to partner with Tesla on robotaxis
▼ + stars: | 2024-10-15 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +2 min

Uber CEO Dara Khosrowshahi told the Financial Times that competing with Elon Musk is not easy. He said he would "love" to get Tesla's robotaxis on the Uber platform when it's ready to roll out. AdvertisementUber CEO Dara Khosrowshahi says going head-to-head with Elon Musk can be tough — so he's open to partnering with him. "Obviously, competing with Elon Musk is no easy matter, and we take nothing for granted; we really want to partner with the autonomous industry," he told the FT in an interview that aired Tuesday. Uber and Tesla didn't immediately respond to requests for comment from Business Insider, made outside normal working hours.

Persons: Dara Khosrowshahi, Elon Musk, —, Khosrowshahi, Tesla, Uber, Musk, hasn't Organizations: Financial Times, Elon, Service, Tesla, Warner Bros, Business Locations: Burbank , California

☆ Musk unveils $30,000 Tesla self-driving Cybercab and larger Robovan at robotaxi event
▼ + stars: | 2024-10-11 | by ( Lora Kolodny | ) www.nbcnews.com time to read: +4 min

After a decade of unfulfilled promises about driverless vehicles, Tesla CEO Elon Musk hyped the company’s Cybercab concept on Thursday night, showing off a low, silver two-seater with no steering wheels or pedals. Musk offered no details about exactly where Tesla plans to produce the cars, but said consumers would be able to buy a Tesla Cybercab for below $30,000. He said the Cybercab and Robovan would employ inductive charging, meaning these autonomous vehicles could roll up to a station to recharge, with no plugging in required. Musk has spent years touting Tesla’s work in autonomous cars and promising that they would hit the market. In 2015, Musk told shareholders that Tesla cars would achieve “full autonomy” within three years.

Persons: Elon Musk, Musk, Tesla, “ It’s, ” Musk, ”, “ Organizations: Tesla, Warner Bros, FSD Locations: Burbank , California, Texas, California, U.S

☆ Elon Musk reveals Tesla's Robotaxi and Robovan
▼ + stars: | 2024-10-11 | by ( Ana Altchek | Kelsey Vlamis | ) www.businessinsider.com time to read: +7 min

Elon Musk just unveiled Tesla's Robotaxi at the company's "We, Robot" event in Los Angeles. Elon Musk showed off Tesla's upcoming driverless taxi at its "We, Robot" on Thursday evening. Musk walked into the event and entered a sleek-looking silver Robotaxi, a two-door vehicle that opened upward with butterfly-style doors. The unveiling of Tesla's latest vehicle is a major milestone for the company and has been highly anticipated for years. In 2016, Musk said during a press call that a Tesla vehicle would autonomously drive from Los Angeles to New York City by 2017.

Persons: Elon Musk, —, Robotaxi, Tesla, Musk, Optimus, Uber Organizations: Service, Warner Bros, Elon, Twitter, Traffic, Administration Locations: Los Angeles, Burbank , California, California, Texas, York, New York City

☆ Don't hold your breath waiting for a Tesla robotaxi
▼ + stars: | 2024-10-11 | by ( Shubhangi Goel | Tom Carter | ) www.businessinsider.com time to read: +5 min

Tesla's robotaxi will almost certainly face safety and regulatory questions before it comes to market. Waymo and Cruise have also encountered regulatory challenges with their autonomous vehicles. It has a permit to test autonomous vehicles with a driver on public roads in the state. "It's a problem of their own making," Phil Koopman, a professor at Carnegie Mellon University and an expert in autonomous vehicle safety, told Business Insider. A Waymo autonomous self-driving electric vehicle.

Persons: Tesla's, Cruise, —, Tesla, Elon Musk, You'll, Sjoerd van, Waymo, Phil Koopman, Koopman, PATRICK T, FALLON, Uber, Kyle Vogt Organizations: Service, Warner Bros, Wal, Getty, California Department of Motor Vehicles, Carnegie Mellon University, NHTSA, Cruise Locations: Burbank , California, California

☆ Elon Musk's Robotaxi is still miles away from overtaking Uber and Waymo in the ride-hailing race
▼ + stars: | 2024-10-11 | by ( Shubhangi Goel | Beatrice Nolan | ) www.businessinsider.com time to read: +6 min

AdvertisementIf Elon Musk can fully deliver on his plans to make Tesla's Robotaxi the new go-to mode of transport, he could bring an end to the ride-hailing economy as we know it. "Tesla's vehicles, sensors, and software will all need to be approved in any market they hope to enter. "Until Tesla robotaxis are transporting 100,000 paying customers a week around major American cities like Waymo does, Tesla Robotaxi is nothing more than the latest work of fiction to come out of the Warner Bros. "We also believe TSLA could struggle to scale fleet operations without offering access to demand via Uber/Lyft." Uber is already preparing for a future of electric cars and autonomous vehicles without Tesla's involvement.

Persons: BYD, —, Elon, aren't, Tesla, Uber, Musk, Jefferies, John Colantuoni, Paul Miller, Forrester, Dan O'Dowd, Waymo, I've, Gene Munster, Brian Baker, Matt Bryson, Dara Khosrowshahi, We're Organizations: Service, Warner Bros, Tesla, Warner Bros ., Asset, Jefferies, Tesla's, BYD, Aurora, AV Locations: Burbank , California

☆ Elon Musk reveals the 'Art Deco' design inspiration behind Tesla's Robovan
▼ + stars: | 2024-10-11 | by ( Ana Altchek | ) www.businessinsider.com time to read: +4 min

Elon Musk surprised viewers with the unveiling of Tesla's Robovan at the 'We Robot' event Thursday. Musk shared on X that the Robovan's design was inspired by Art Deco trains. But the Robovan's exterior aesthetic appears to be inspired by the early 20th century Art Deco design period. In response to a user who asked about what inspired the design, Musk replied, "Art Deco trains." Art Deco trains were a product of the Art Deco era, which took place in the 1920s and 1930s.

Persons: Elon Musk, Tesla's Robovan, Musk, —, Tesla, — Tesla, Robovan, 🎯, ike Organizations: Art Deco, Service, Art Locations: lon, usk, ehicles

☆ Elon Musk might have to convince Trump not to 'stop' autonomous vehicles if he's reelected
▼ + stars: | 2024-10-11 | by ( Jaures Yip | ) www.businessinsider.com time to read: +2 min

Elon Musk revealed Tesla's new robotaxis hours after Trump said he would "stop" AVs from operating. Trump expressed concerns about autonomous vehicles at the Detroit Economic Club. During his remarks at the Detroit Economic Club, Trump said he found autonomous vehicles "concerning" and promised to "stop" them from operating. "I will stop Chinese — and other countries — produced automobile and autonomous vehicles," he said. Amazon-backed Zoox received authorization from the California and Nevada DMV to operate fully autonomous robotaxis on public roads.

Persons: Elon Musk, Trump, GM's Cruise, —, Elon, Donald Trump's, Musk, Zoox, Cruise, Didi Organizations: Detroit Economic, Service, Nevada DMV, Dallas Locations: California, Texas, San Francisco, Phoenix, Los Angeles, Austin, Nevada, Foster, China

☆ Tesla robotaxi event comes after a decade of unfulfilled promises from Elon Musk
▼ + stars: | 2024-10-10 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +3 min

With Tesla's hotly anticipated robotaxi event hours away, investors will soon get a glance at what CEO Elon Musk has called the CyberCab. The event comes a week after Tesla reported third-quarter deliveries of 462,890, lifting the number to 1.35 million for the year so far. For all of last year, Tesla reported deliveries of 1.81 million. Gene Munster of Deepwater Asset Management told CNBC's "Fast Money" on Wednesday, that he'll be at the event and expects to test the robotaxi. Tesla was once seen as a pioneer in autonomous vehicle development, but has never managed to deliver or demonstrate robotaxi technology.

Persons: Elon Musk, The Beverly Hilton, Tesla's, Tesla, Garrett Nelson, They're, Gene Munster, CNBC's, He's, Alphabet's, Morgan Stanley Organizations: SpaceX, Tesla, The Beverly, Warner Bros, CFRA, RBC Capital, Deepwater Asset Management Locations: Beverly Hills , California, U.S, Burbank , California, CFRA, Munster

☆ Elon Musk hypes $30,000 Tesla self-driving Cybercab and larger Robovan at robotaxi event
▼ + stars: | 2024-10-10 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +1 min

After a decade of unfulfilled promises about driverless vehicles, Tesla CEO Elon Musk hyped the company's Cybercab concept on Thursday night, showing off a low, silver two-seater with no steering wheels or pedals. Musk offered no details about exactly where Tesla plans to produce the cars, but said consumers would be able to buy a Tesla Cybercab for below $30,000. FSD, which stands for Full Self-Driving, is Tesla's premium driver assistance system, available today in a "supervised" version for Tesla electric vehicles. Musk also revealed plans to produce an autonomous, electric Robovan that can carry up to 20 people, or be used to transport goods. He said the Cybercab and Robovan would employ inductive charging, meaning these autonomous vehicles could roll up to a station to recharge, with no plugging in required.

Persons: Elon Musk, Musk, Tesla Organizations: Tesla, Warner Bros, FSD Locations: Burbank , California, Texas, California

☆ Trump to propose new tax break on car loan interest
▼ + stars: | 2024-10-10 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +2 min

Republican presidential nominee, former U.S. President Donald Trump, speaks at the Detroit Economic Club on October 10, 2024 in Detroit, Michigan. Donald Trump on Thursday will support making interest on car loans fully tax deductible, the latest in a suite of tax-cut promises the Republican presidential nominee has made in the weeks before Election Day. Trump, in a speech to the Detroit Economic Club, will compare the plan to an existing tax deduction on mortgage interest, according to excerpts provided beforehand by the Trump campaign. The plan "will stimulate massive domestic auto production, and make car ownership dramatically more affordable for millions of working American families," Trump will say. Trump has already voiced support on the campaign trail for a slew of other tax breaks, including ending taxation of service workers' tips and seniors' Social Security benefits.

Persons: Donald Trump, Trump, Kamala Harris, Harris, Joe Biden's, — Organizations: Detroit Economic Club, Detroit Economic, Democratic, Joe Biden's Department of Commerce, U.S, U.S . Constitution, Social Security, Wall Street Journal Locations: Detroit , Michigan, U.S ., U.S

☆ Who will win the robotaxi race? Tesla, Waymo, or Uber?
▼ + stars: | 2024-10-09 | by ( Alistair Barr | ) www.businessinsider.com time to read: +7 min

Today, consumers open the Uber app because they know there will likely be loads of cars nearby to pick them up. And drivers come to Uber because they know there will be many riders waiting and willing to pay. Uber doesn't buy and maintain cars. AdvertisementA robotaxi futureWhat happens if Tesla and Waymo driverless cars replace human drivers? It has already struck deals with Waymo and Cruise, another AV company, to have their driverless cars be part of the existing Uber rideshare network.

Persons: Tesla's, Elon, Uber, Uber doesn't, Tesla, Bernstein, Lyft, Waymo, Ben Thompson, Thompson, Dara Khosrowshahi Organizations: Google, Tech, Waymo

☆ Are taxis safer with no driver? These women think so.
▼ + stars: | 2024-10-08 | by ( David Ingram | David Ingram Is A Tech Reporter For Nbc News. | ) www.nbcnews.com time to read: +11 min

Autonomous taxis are winning over women in cities like San Francisco by offering an answer to a long-standing concern about ride-hailing apps: misbehavior by human drivers, especially men. Now, those driver safety concerns are helping to fuel the popularity of autonomous taxis — especially for women traveling alone or at night. About three-quarters of Lyft and Uber drivers are men, according to industry and academic surveys. Lyft said in a statement to NBC News that it continues to try to improve safety, including with driver background checks, driver ratings, driver education and an emergency phone line for passengers. In 2023, Lyft started a feature, Women+ Connect, that allows women or nonbinary drivers to opt in to prefer riders who are women or nonbinary, and vice versa.

Persons: they’ve, Veronica Pastore, it’s, “ I’ve, ’ ”, Pastore, “ It’s, ”, they’d, they’re, Abby Vigil, she’s, Robotaxis, driverless, “, Jason Munderloh, ” Waymo, Lyft, Uber, Waymo, ” Uber, Dara Khosrowshahi, Diana Taurasi, Megan Neese, Neese, Amazon’s, Elon Musk, Jayka Noelle, Noelle, TikTok, DaBabyBoomers, Cheryl Baxter, Beth Bowles Organizations: San Francisco, Gig Workers, Rider, NBC News, CNBC, Phoenix Mercury, Google, Motors ’, Tesla Locations: San Francisco, Lyft, San, ”, —, U.S, Atlanta, Austin , Texas, Las Vegas, Phoenix, Los Angeles, Austin, Scottsdale , Arizona

☆ Elon Musk is ready to make his biggest pitch yet that Tesla is more than just a car company
▼ + stars: | 2024-10-07 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +7 min

Elon Musk has a big task this week: convincing investors that Tesla is more than just a car company. It may do so once again as Elon Musk prepares to use the studio lot to tell another story: that Tesla is more than just a car company. The long-awaited event — originally scheduled for August — is meant to give weight to the electric vehicle maker's pitch that it is a tech company first and a car company second. Meanwhile, in July, Wedbush analyst Dan Ives claimed the "Tesla AI story could be worth $1 trillion-plus and is the most undervalued AI name." Michael Macor/The San Francisco Chronicle via Getty ImagesHowever, what's critical to note is the timing for Tesla's robotaxi push.

Persons: Elon Musk, Tesla, Tesla's, —, Musk, Sam Altman, Andrej Karpathy, Dan Ives, Michael Macor, Caspar Rawles, Rawles, Donald Trump, Elon, Ross Gerber, Gerber, Uber, it's, Cruise, Paul Miller, Forrester Organizations: Service, Warner Bros, Elon, Robotaxi, EV, San Francisco, Getty, Elon Inc, Benchmark Mineral Intelligence, Twitter, Gerber Kawasaki Wealth, Investment Management, Baidu, GM Locations: Burbank, California, Tesla's, Palo Alto, Elonville, Chinese, China, Wuhan

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAutonomous vehicles are here but the public is reluctant to trust themDriverless cars are speeding onto America's streets. Alphabet-owned Waymo has been the leading player, notching more than 22 million driverless miles. But the public is still divided, with high-profile accidents from other autonomous companies and residents of many cities unfamiliar with the technology. Now, the most bullish self-driving proponent of them all, Tesla, is due to unveil its long-awaited robotaxi after years of unfulfilled promises. But will the public learn to trust them?

Persons: Waymo

☆ Top Wall Street analysts favor these stocks for attractive long-term potential
▼ + stars: | 2024-10-06 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +6 min

Nonetheless, investors could benefit by ignoring short-term noise and tracking the recommendations of top Wall Street analysts to pick stocks with attractive long-term growth potential. (See CYBR Hedge Fund Activity on TipRanks)Uber TechnologiesWe move to the ride-sharing and food delivery platform Uber Technologies (UBER). After hosting meetings with the company's management, JPMorgan analyst Doug Anmuth reaffirmed a buy rating on UBER stock with a price target of $95. Uber expects its grocery ad business to account for 5% of gross bookings over time. (See UBER Stock Buybacks on TipRanks)Meta PlatformsThis week's third stock pick is social media company Meta Platforms (META).

Persons: Matthew Hedberg, Hedberg, TipRanks, Doug Anmuth, Anmuth, Uber, Baird, Colin Sebastian, Sebastian, Claude, OpenAI's ChatGPT Organizations: Wall, RBC Capital, TAM, JPMorgan, Mobility, Meta, Meta Connect, Reality Labs

☆ Leaders from BCG, Infosys, AARP, and more predict how AI will transform top companies in the next 12 months
▼ + stars: | 2024-10-04 | by ( Julia Hood | Tim Paradis | ) www.businessinsider.com time to read: +17 min

During a virtual roundtable, we asked Business Insider's Workforce Innovation board to tell us how AI would transform companies over the next year. How will the most innovative companies be transformed by AI over the next 12 months? Last year, we had an AI challenge across the company, and a huge percentage of our employees participated. There are a lot of different points of view on what AI will and will not do and how quickly. And that the promise we think AI is going to deliver will probably take longer than we think to come to fruition.

Persons: Tim Paradis, Vinod Khosla, Khosla, upskilling, Justina Nixon, Nixon, Saintil, AARP's Marjorie Powell, Powell, Chris Deri, Anant Adya, Marjorie Powell, Alicia Pittman, We've, We're, It's, coder, Maggie Hulce, Salesforce, what's, Chen, we've, Weber, everybody's, Anant, Shane Koller, Tipton Organizations: Sun Microsystems, Weber, IBM, Saintil, Infosys, AARP, Boston Consulting, Clear, Federal Housing Finance, Street Locations: Dreamforce, San Francisco, Tipton

☆ Jim Cramer's week ahead: CPI data and earnings from Delta, Domino's and major banks
▼ + stars: | 2024-10-04 | by ( Julie Coleman | ) www.cnbc.com time to read: +3 min

CNBC's Jim Cramer reviewed next week's top market-moving action, highlighting new consumer price index data and a slew of earnings reports as the season begins, including ones from Delta , Domino's and several major banks. The labor department will release September's CPI report on Thursday, and Cramer said investors who want a rate cut are hoping for a cool number. Friday brings the producer price index report, and like the CPI, this data will be a metric for the Fed's next decision, Cramer said. Big ticket financial earnings will also come out that day, including Wells Fargo , JPMorgan and Blackrock . He said banks represent the least expensive group on the market, and investors should use any weakness to buy them.

Persons: CNBC's Jim Cramer, Cramer, he's, Delta, Tesla Organizations: Wall, PepsiCo, General Motors, Federal, Big Tech, AMD, HP Enterprise, Big, JPMorgan, Blackrock Locations: Delta, Domino's, Wells Fargo

☆ Here are Monday's biggest analyst calls: Nvidia, Amazon, Tesla, Meta, Disney, Apple, Uber, JPMorgan Chase & more
▼ + stars: | 2024-09-30 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Morgan Stanley upgrades Blackline to overweight from equal weight Morgan Stanley said the software company is undervalued. Morgan Stanley upgrades US Bancorp to overweight from equal weight Morgan Stanley said U.S. Bancorp is well-positioned going forward. Barclays reiterates Tesla as equal weight Barclays says it's not sure the EV maker's upcoming robotaxi day will be a game changer. Morgan Stanley reiterates Apple as overweight Morgan Stanley says the iPhone 16 cycle remains "unchanged" for now for Apple. Morgan Stanley downgrades JPMorgan to equal weight from overweight Morgan Stanley sees better value elsewhere than shares of JPMorgan.

Persons: Wolfe, Hess, Brent, Morgan Stanley, reprice, Cantor Fitzgerald, Cantor, Tesla, it's, Uber, Apple, Goldman Sachs, Goldman, JPMorgan, Piper Sandler, Piper, Forman, Gamble, TD Cowen Organizations: Chevron, Bancorp, U.S, MU, Autodesk, Barclays, Citi, Meta, Apple, Pro, Westlake, Resources, JPMorgan, DIS, Brown, Barclays downgrades Procter, Accenture, UBS, Brookfield, Partners Locations: AVGO, ASML, TER, OW, 4Q24

☆ Morgan Stanley’s Jonas downgrades Ford and GM, citing China competition, problems with U.S. consumer
▼ + stars: | 2024-09-25 | by ( Fred Imbert | ) www.cnbc.com time to read: +3 min

GM was lowered to underweight from equal weight, with the price target cut to $42 from $47. Additionally, Jonas lowered his rating on EV maker Rivian to equal weight from overweight, cutting his price target to $13 from $16. F GM 5D mountain F and GM fall Ford Motor shares have struggled in 2024, losing more than 10%. These headwinds, coupled with "peak earnings" and electric vehicle and regulatory risks, will also send GM shares lower. On Rivian, Jonas said, "The downgrade reflects our incorporation of the capital intensity of [autonomous vehicles] which may be required to fulfill the technological underpinnings that attracted Volkswagen as a JV partner."

Persons: Morgan Stanley's Adam Jonas, Ford, Jonas, Rivian Organizations: U.S, Ford Motor, General Motors, GM, Rivian, Ford, Volkswagen, Magna International, Federal Locations: China

☆ Uber is bringing robotaxis from China's WeRide onto its platform — but not in the US
▼ + stars: | 2024-09-25 | by ( Tom Carter | ) www.businessinsider.com time to read: +1 min

Uber is partnering with Chinese self-driving firm WeRide to add more robotaxis to its app. The ride-hailing giant will launch its first service with WeRide in Abu Dhabi later this year. AdvertisementUber is partnering with a Chinese tech giant to add more robotaxis to its app — but don't expect them to come to the US anytime soon. The ride-hailing company announced a partnership with Chinese self-driving firm WeRide on Wednesday, which will allow users to access WeRide's autonomous vehicles via the Uber app. The partnership is expected to launch later this year in Abu Dhabi, where WeRide already has a robotaxi fleet in operation.

Persons: Uber, —, WeRide Organizations: Service, Business Locations: Abu Dhabi

☆ Here are Wednesday's biggest analyst calls: Apple, Tesla, Disney, Ford, General Motors, Duolingo, Roblox, Alphabet & more
▼ + stars: | 2024-09-25 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Wells Fargo upgrades Baker Hughes to overweight from equal weight Wells says it likes the oil service company's business model. Morgan Stanley upgrades AutoNation to overweight from equal weight Morgan Stanley says AutoNation is well positioned in a bumpy macroeconomic environment. Morgan Stanley reiterates Apple as overweight Morgan Stanley says it's remaining cautious after checks of iPhone 16 demand for Apple. Morgan Stanley downgrades Ford to equal weight from overweight and General Motors to underweight from equal weight Morgan Stanley downgraded several automakers on Wednesday and said it's concerned about market share losses. Morgan Stanley reiterates Nike as equal weight Morgan Stanley raised its price target on Nike to $82 per share from $79 ahead of earnings on October 1.

Persons: Wolfe, Sallie Mae, it's bullish, Wells, Baker Hughes, Piper Sandler, Tesla, Piper, Morgan Stanley, AutoNation, Mike Manley, Duolingo, MARA, CORZ, Piper Sandler downgrades Tyson, it's, Oppenheimer, GOOG's, Baird, Locker Baird, Apple, TD Cowen downgrades Expedia, Cowen, Goldman Sachs, Goldman, Morgan Stanley downgrades Ford, Roblox Organizations: APO, Bank of America, Macquarie, Tyson Foods, Barclays, Hewlett Packard Enterprise, DOJ, Google, Foot, Apple, ISI downgrades, Pacific, Evercore, UNP, Disney, JPMorgan, Oil & Gas, Petrobras, Motors, GM, Citi, Investors, Nike Locations: CLSK, Foot Locker, Mexico, China, Fortnite

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