DIRS.INFO The most relevant business & tech news

☆ Ratan Tata, who put India’s Tata Group on the global map, dies at 86
▼ + stars: | 2024-10-10 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +4 min

Ratan Tata, the former Tata Group chairman who put a staid and sprawling Indian conglomerate on the global stage with a string of high-profile acquisitions, has died, the Tata Group said in a statement late on Wednesday. Ratan Tata "was a visionary business leader, a compassionate soul and an extraordinary human being," Indian Prime Minister Narendra Modi said on social media platform X. He founded telecommunications firm Tata Teleservices in 1996 and took IT firm Tata Consultancy Services, the group's cash cow, public in 2004. Tata Motors then acquired British luxury auto brands Jaguar and Land Rover from Ford Motor Co in 2008 for $2.3 billion. The Tata Group said Mistry had failed to turnaround poorly performing businesses while Mistry accused Ratan Tata, who was chairman emeritus of the conglomerate, of interfering and creating an alternate power center at the group.

Persons: Ratan Tata, Ratan, Narendra Modi, Telco, J.R.D, Tata, Tata Teleservices, Tetley, Ratan Tata's, Cyrus Mistry, Shapoorji Pallonji, Mistry, Ola Organizations: Tata Group, Ratan Naval Tata, Cornell University, Tata, Tata Motors Ltd, Tata Steel Ltd, National Radio & Electronics Company, Tata Consultancy Services, Stanford Graduate School of Business, Corus, Tata Motors, Rover, Ford Motor Co, India —, Tata Sons, Urban Company Locations: India, Dutch, Indian

☆ Here's what investors need to know after GM's capital markets day
▼ + stars: | 2024-10-09 | by ( Michael Wayland | ) www.cnbc.com time to read: +8 min

GM's investor day showcased many of the company's current achievements, but did not provide much insight on strategy," Bernstein analyst Daniel Roeska wrote Wednesday in an investor note. "GM's Investor Day yesterday didn't provide much in the way of sharp shifts in strategy. Through the first half of 2024, GM earned $8.3 billion in EBIT-adjusted and generated $6.4 billion in adjusted automotive free cash flow. GM's 2024 financial guidance includes anticipated capital spending of between $10.5 billion and $11.5 billion. GM's operations in China have experienced a decade-long slide in earnings, and executives said they are discussing restructuring options with their China-based partners.

Persons: Rebecca Cook, Mary Barra, Mark Reuss, Stellantis, Bernstein, Daniel Roeska, Dan Levy, John Murphy, Levy, Paul Jacobson, Jacobson, GM's, we're, Barra, Ultium, Kurt Kelty, " Jacobson, Reuss, that's, you'll, Tesla's Organizations: General Motors, Reuters DETROIT —, GM, Ford Motor, Ford, Barclays, BofA Securities, Wall Street, EV tailwinds, North America, LG Energy, ICE, GMC, China Locations: Detroit, Spring Hill , Tennessee, North, Cruise, China

☆ Ford reveals new 2025 Expedition SUV, including off-road and 'Ultimate' models
▼ + stars: | 2024-10-03 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

DETROIT — Ford Motor is increasing the refinement and technology of its large Expedition SUV as part of a vehicle redesign to better compete with growing competition. The new three-row SUV features a smoother interior and exterior design, increased comfort and convenience features such as a 24-inch driver display, and the addition of the automaker's BlueCruise hands-free highway driving system. Ford declined to release pricing for the 2025 Expedition until closer to when the vehicles will arrive in dealerships in the spring. Current starting pricing ranges from $55,000 to $84,000, depending on the model. The average transaction price of current models is roughly $70,000, according to Ford.

Persons: we've, Trevor Scott Organizations: DETROIT, Expedition, Ford Utilities, Ford

☆ 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

Meanwhile, Pivotal Research initiated coverage of Google-parent Alphabet with a buy rating and a price target that implied upside of nearly 30%. The investment firm upgraded the cleaning products maker to a buy rating from hold. Analyst Kaumil Gajrawala accompanied the move by raising his price target to $187 from $174. Simultaneously, the analyst set a new target price of $200, which is approximately 26% above Monday's close. Analyst Asiya Merchant maintained her price target of $37, which implies that shares of HP could rise 3%.

Persons: Goldman Sachs, Kaumil Gajrawala, Gajrawala, Clorox, Lisa Kailai Han, Jeffrey Wlodarczak, Wlodarczak, Zuckerberg, Raymond James, Adam Tindle, Tindle, Atlassian, Asiya Merchant, Merchant, Mark Delaney, Ford, Delaney, they've, GOOG, Kamala Harris, — Fred Imbert Organizations: CNBC, Ford Motor, Google, Jefferies, Meta, Citi, HP, HP Inc, Ford, EV, Ford Pro Locations: Monday's, China, Japan, EBIT

☆ Stocks making the biggest moves premarket: Ford, Clorox, Boeing, Pinterest and more
▼ + stars: | 2024-10-01 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +3 min

Ford Motor — The automaker jumped 2.3% after Goldman Sachs upgraded shares to buy from neutral. CVS Health – Shares rose 2% after CNBC, citing people familiar with the matter, reported that CVS is working with advisors on a strategic review of its business. Clorox — Shares of the household supplies company rose more than 1.5% after an upgrade to buy from hold at Jefferies. Pinterest — Shares of the online platform added 3.3% after Goldman Sachs added Pinterest to its "Americas Conviction List." Datadog — The cloud analytics company rose 1.7%.

Persons: Goldman Sachs, Raymond James, Ric Prentiss, Clorox, Pinterest, Datadog, Davidson, Oppenheimer, — CNBC's Sean Conlon, Sarah Min, Samantha Subin, Pia Singh, Michelle Fox, Jesse Pound Organizations: Ford, Super, Disney —, CVS, CNBC, Reuters, Anheuser Busch InBev, Citi, Anheuser, Busch, Jefferies, Boeing, Bloomberg, Alcoa, Bank of America

☆ Ford aims to boost EV sales, address owner concerns with new benefits program
▼ + stars: | 2024-09-30 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

The Mustang Mach-E on display at the New York International Auto Show on March 28, 2024. DETROIT — Ford Motor is aiming to boost sales of its electric vehicles by addressing potential customer concerns through a new program that includes free home-charging installation and other benefits. The "Ford Power Promise" program begins Tuesday for customers who purchase or lease a new Ford EV such as the F-150 Lightning pickup truck or Mustang Mach-E crossover. "Absolutely, we're trying to grow our business but the best way we can grow our business is to serve our customers well," Marin Gjaja, chief operating officer for Ford's Model e EV business, told CNBC. The program launches as EV sales grow at a slower rate than many previously expected.

Persons: Marin Gjaja, Gjaja, Ford Organizations: New York, DETROIT, Ford, CNBC, EV

☆ 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

Although he increased his price target to $150 from $130, the new price target is just around $2 higher from Tuesday's close price. — Fred Imbert 6:46 a.m.: Citi raises Roblox price target Citi is bullish on Roblox's long-term prospects in spite of some near-term rockiness. — Hakyung Kim 5:42 a.m.: Piper Sandler raises price target on Tesla Piper Sandler thinks Tesla may sell more vehicles than the firm previously expected. With this in mind, he raised his price target on Tesla shares to $310 from $300, signaling about 22% upside from Wednesday's close. TSLA YTD mountain TSLA year to date — Hakyung Kim 5:42 a.m.: Barclays upgrades Hewlett Packard Enterprise Rising demand for artificial intelligence servers will boost Hewlett Packard Enterprise shares, according to Barclays.

Persons: Piper Sandler, TD Cowen downgrades Expedia TD Cowen, Kevin Kopelman, Kopelman, EXPE, — Hakyung Kim, Morgan Stanley, Ford Morgan Stanley's Adam Jonas, Jonas, Ford, Fred Imbert, Jason Bazinet, we're, Bazinet, Roblox, Alex Straton, Straton, JPMorgan, Rodolfo Angele, Angele, Tesla Piper Sandler, Tesla, Alexander Potter, Potter, Hakyung Kim, Tim Long, HPE, Long Organizations: CNBC, Barclays, Hewlett Packard Enterprise, U.S, Ford Motor, GM, Citi, Nike, JPMorgan, Petrobras, Tesla, Hewlett, Enterprise, Juniper Networks Locations: China, U.S, Tuesday's, XLK

☆ Stocks making the biggest moves premarket: KB Home, Hewlett Packard Enterprises, General Motors and more
▼ + stars: | 2024-09-25 | by ( Sean Conlon | ) www.cnbc.com time to read: +2 min

Rithm Capital – The real estate investing stock more than 4% after announcing a secondary offering of 30 million shares. Hewlett Packard Enterprise – The technology stock added almost 3% on the back of a Barclays upgrade to overweight from equal weight. General Motors , Ford Motor – The auto stocks fell following downgrades from Morgan Stanley's Adam Jonas due to rising China competition and a weakening U.S. consumer. The analyst downgraded Ford Motor to equal weight from overweight, while General Motors was lowered to underweight from equal weight. Shares of General Motors and Ford fell roughly 3% and 2%, respectively.

Persons: FactSet, Bilibili –, Rithm, Hewlett Packard, Morgan Stanley's Adam Jonas, —, Alex Harring, Sarah Min, Lisa Kailai Han Organizations: JPMorgan, Hewlett Packard Enterprise, Barclays, Hewlett, Worthington Enterprises, General Motors, Ford, Ford Motor, General Locations: China's, U.S, China

☆ Biden proposes banning Chinese technology from ‘connected cars’ on U.S. roads
▼ + stars: | 2024-09-24 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +3 min

WASHINGTON — The U.S. Commerce Department on Monday proposed prohibiting key Chinese software and hardware in connected vehicles on American roads due to national security concerns, a move that would effectively bar Chinese cars and trucks from the U.S. market. The planned regulation, first reported by Reuters, would also force American and other major automakers in years ahead to remove key Chinese software and hardware from vehicles in the United States. President Joe Biden’s administration has raised concerns about data collection by connected Chinese vehicles on U.S. drivers and infrastructure and potential foreign manipulation of vehicles connected to the internet and navigation systems. The proposed prohibitions would prevent testing of self-driving cars on U.S. roads by Chinese automakers and extend to vehicle software and hardware produced by Russia and could be extended to other U.S. adversaries. The group said there is “very little” connected vehicle hardware or software “that enters the U.S. from China.

Persons: WASHINGTON, Joe Biden’s, Jan, Gina Raimondo, We’re, ”, Liz Cannon, Jake Sullivan, ” Sullivan, Lin Jian, Washington “ Organizations: The U.S . Commerce Department, Reuters, White House, The Commerce Department, U.S . Commerce, Commerce Department, Motors, Ford Motor, U.S, The, White, National, Foreign Ministry, Alliance, Automotive Innovation, GM, Toyota, Volkswagen, Hyundai Locations: The U.S, U.S, United States, Russia, China

☆ GM’s EV sales momentum is finally building as new vehicle lineup fills out
▼ + stars: | 2024-09-23 | by ( Michael Wayland | ) www.nbcnews.com time to read: +7 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. 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. Growing EV lineupGrowing EV lineupGM currently offers eight “Ultium-based” EVs for consumers — referring to its electric vehicle architecture and battery technologies.

Persons: WARREN, Mary Barra, Elon Musk’s, ” Rory Harvey, “, ” Harvey, GM’s, Tesla, Harvey, ”, Stephanie Brinley, ” Brinley, EVs, ” “, ‘ Butts, Barra, carmaker Organizations: General Motors, Detroit, U.S, GM, Elon Musk’s carmaker, Hyundai, Kia, Ford, CNBC, Detroit automaker, Motor Intelligence, EV, P, ” Cox Automotive Locations: Mich, North America, U.S, Detroit, Barra, U.K, ”, EVs

☆ 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

“If we’re going to put up affordable housing, we don’t just want to house one family. We want to house five or six or eight or 25 families,” said Minneapolis Mayor Jacob Frey, who has overseen the Minneapolis 2040 plan. Trump campaign national press secretary Karoline Leavitt blamed the higher housing costs on the current administration’s policies, as well as an “unsustainable invasion of illegal aliens.” The campaign broadly said Trump’s housing plan involves freeing up federal land for housing and cutting regulations. Walz, whom Frey said was “committed to the mission” on affordable housing, signed the measure into law in May. We also need to have more active state, local and federal government policies that look to support the housing market.”

Persons: ”, Minneapolis Mayor Jacob Frey, Ben Brewer, Donald Trump, Kamala Harris, Harris, Tim Walz, Karoline Leavitt, It’s, Frey, Hennepin, Ryan Allen, “, ” Allen, Cody Fischer, ” Fischer, ” Jeremy Wieland, Wieland, didn’t, it’s, ” Wieland, Fischer, ’, Walz, University of Minnesota’s Allen, that’s Organizations: National Association of Realtors, Minneapolis Mayor, Currie, Bloomberg, Getty, Minnesota Gov, Trump, Pew Research, NBC, Ford Motor Co, Minn, University of Minnesota, Minneapolis, California Bay Area, Minnesota Environmental, Minnesota Supreme, University of Minnesota’s Locations: MINNEAPOLIS, United States, Minnesota, Minneapolis, U.S, Harrison, Hennepin County, St, Paul, California Bay, San Francisco, Oakland, ”, Northeast Minneapolis, “

☆ What's Minneapolis' secret to fixing housing? Build more
▼ + stars: | 2024-09-20 | by ( Brian Cheung | ) www.cnbc.com time to read: +3 min

The Currie Commons housing development under construction in the Harrison neighborhood of Minneapolis, Minnesota, US, on Thursday, July 20, 2023. We want to house five or six or eight or 25 families," said Minneapolis Mayor Jacob Frey, who has overseen the Minneapolis 2040 plan. Both former President Donald Trump and Vice President Kamala Harris have broadly promised to provide some support for first-time homebuyers, with the Harris campaign offering more details. The campaign broadly said Trump's housing plan involves freeing up federal land for housing and cutting regulations. The Currie Commons housing development under construction in the Harrison neighborhood of Minneapolis, Minnesota, US, on Thursday, July 20, 2023.

Persons: Ben Brewer, Minneapolis Mayor Jacob Frey, Donald Trump, Kamala Harris, Harris, Tim Walz, Karoline Leavitt Organizations: Currie, Bloomberg, Getty, National Association of Realtors, Minneapolis Mayor, Minnesota Gov, Trump, Ford Motor Co Locations: Harrison, Minneapolis , Minnesota, United States, Minnesota, Minneapolis, U.S, Saint Paul , Minnesota, The Minneapolis

☆ UAW warns of potential strikes at Ford, Stellantis a year after unprecedented work stoppages
▼ + stars: | 2024-09-19 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

DETROIT – A year after unprecedented strikes by the United Auto Workers against the Detroit automakers, the union is once again threatening work stoppages that could disrupt the U.S. automotive industry. Both announcements amount to warning shots against Ford and Stellantis and center on local union contracts. Local contracts have historically taken months, if not years, to settle after a national agreement is reached. Last year's auto worker strikes came during historic negotiations over national contracts with all three Detroit automakers at once. The UAW did not immediately respond for comment Thursday regarding updates on the announcements or how many local contracts remain under negotiation.

Persons: Shawn Fain Organizations: Mopar, Center, DETROIT, United Auto Workers, Detroit automakers, UAW, Wednesday, Ford, General Motors, Detroit Locations: Center Line, Michigan, Detroit, U.S

☆ The SEC wants to make trading stocks cheaper for the average investor
▼ + stars: | 2024-09-18 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

The SEC on Wednesday approved a change that will allow some stocks to be quoted in half-penny increments. The measure will narrow bid-ask spreads and reduce costs for investors, the SEC said. AdvertisementThe US Securities and Exchange Commission has revamped how stocks get priced in an effort to reduce costs on investors. On Wednesday, the SEC voted to adjust market rules, so that some stocks will be quoted in increments of $0.005. AdvertisementPrior to Wednesday's vote, stocks had been priced at a one-penny minimum since 2005.

Persons: —, Gary Gensler, Gensler Organizations: SEC, Service, US Securities and Exchange Commission, Reuters, Ford, Wall, Commission

☆ Ford in talks to restart making cars in India for export
▼ + stars: | 2024-09-12 | by ( ) www.cnbc.com time to read: +1 min

Ford Motor held talks with India's Tamil Nadu state to explore producing vehicles for export, the state's chief minister said, potentially signaling that the U.S. carmaker could restart production in India after exiting the country three years ago. Ford sold one of its two plants in India to Tata Motors in 2023. Its other plant, which is in Chennai in Tamil Nadu state, was shuttered. "Had a very engaging discussion with the team from Ford Motors. Explored the feasibility of renewing Ford's three decade partnership with Tamil Nadu, to again make in Tamil Nadu for the world," M.K.

Persons: Ford, M.K, Stalin Organizations: New York, Auto, Ford Motor, Tata Motors, Ford Motors, Tamil Locations: Manhattan , New York City, U.S, Tamil, India, Asian, Chennai, Tamil Nadu

☆ CEO of Ford's highly profitable Pro business to retire
▼ + stars: | 2024-09-12 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

Ted Cannis, chief executive officer of Ford Pro, speaks during an interview in New York, on Thursday, July 28, 2022. DETROIT — The head of Ford Motor 's highly profitable "Pro" commercial and fleet business will retire at the end of this month, the company said Thursday. Ford Pro has been a profit-driver for the automaker. It has raked in about $18.7 billion in adjusted earnings and $184.5 billion in revenue since 2021, assisting in offsetting losses of its electric vehicles business. Such results led Wall Street to praise the business, as analysts have called it a "hidden gem" and Ford's "Ferrari ," referring to the highly profitable Italian sports car manufacturer.

Persons: Ted Cannis, DETROIT —, Andrew Frick, Ford, Jim Farley, Wall, Ferrari Organizations: Ford Pro, DETROIT, Ford Motor Locations: New York

☆ 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

☆ Ford truck, hybrid models lead to 13% increase in August sales
▼ + stars: | 2024-09-05 | by ( Michael Wayland | ) www.cnbc.com time to read: 1 min

A Ford Raptor pickup truck is displayed for sale at a Ford dealership on August 21, 2024 in Glendale, California. DETROIT — Ford Motor's U.S. vehicle sales jumped 13.4% last month, led by increases in the company's F-Series trucks and hybrid models. The Detroit automaker reported sales Thursday of nearly 183,000 vehicles in August, including a 12.3% increase in trucks and a roughly 50% jump in hybrid vehicles compared with a year earlier. Its all-electric vehicle sales jumped 29% during that time, including a notable rise in its F-150 Lightning pickup. Ford's August sales outpaced overall industry estimates of a roughly 6% year-over-year increase from a year earlier, according to Barclays.

Persons: DETROIT — Organizations: Ford, DETROIT — Ford Motor's U.S, Detroit, Barclays Locations: Glendale , California, DETROIT

☆ 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

Ronda Churchill | Afp | Getty ImagesEconomist Brian Deese has begun advising Vice President Kamala Harris as she develops her economic policy plan, according to three people familiar with the matter. Deese is a former director of President Joe Biden's National Economic Council and a fellow at MIT's Center for Energy and Environmental Policy Research. Harris is also working with Mike Pyle, a former deputy National Security Advisor for International Economics in the Biden White House, these people said. Director of the National Economic Council Brian Deese (L) and Vice President Kamala Harris (R) listen during the weekly economic briefing in the Oval Office at the White House on April 9, 2021 in Washington, DC. Along with Pyle and Deese, former senior Treasury official Brian Nelson is also advising Harris on policy.

Persons: Kamala Harris, Ronda Churchill, Brian Deese, Joe Biden's, Harris, Deese, Mike Pyle, Amr Alfiky, Pyle, Millison, Brian Nelson, Gene Sperling Organizations: Democratic, Thomas, Mack Center , University of Nevada, Afp, Getty, Economic Council, MIT's Center for Energy, Environmental, Research, National, International Economics, Biden White House, National Economic, White, BlackRock, CNBC, Ford Motor Co, Macro Advisory, Ford, Treasury, White House Locations: Las Vegas , Nevada, Ronda, Washington ,, BlackRock

Search resuls for: "Ford Motor"

25 mentions found