Top related persons:
Top related locs:
Top related orgs:

Search resuls for: "ev"


25 mentions found


Denpasar, Indonesia Reuters —Elon Musk and Indonesian Health Minister Budi Gunadi Sadikin launched SpaceX’s satellite internet service for the nation’s health sector on Sunday, aiming to improve access in remote parts of the sprawling archipelago. Musk, wearing a green batik shirt, said the availability of the Starlink service in Indonesia would help millions in far-flung parts of the country to access the internet. Asked about whether he planned to also invest in Indonesia’s electric vehicle industry, Musk said he was focused on Starlink first. Prior to Sunday’s launch, Starlink obtained a permit to operate as an internet service provider for retail consumers and had been given the go-ahead to provide networks, having received a very small aperture terminal (VSAT) permit, Budi Setiadi told Reuters. SpaceX’s Starlink, which owns around 60% of the roughly 7,500 satellites orbiting earth, is dominant in the satellite internet sphere.
Persons: Indonesia Reuters — Elon Musk, Budi Gunadi Sadikin, Musk, ” Starlink, , , Joko Widodo, Budi Arie Setiadi, Starlink, Budi Setiadi, SpaceX’s Organizations: Indonesia Reuters, Indonesian Health, SpaceX, Tesla, Indonesian, . Communications, Reuters Locations: Denpasar, Indonesia, Bali, Aru, Maluku, Southeast Asia, Malaysia, Philippine, Ukraine
Editor’s Note: Sign up for CNN’s Meanwhile in China newsletter, which explores what you need to know about the country’s rise and how it impacts the world. CNN —China has hinted at possible tit-for-tat action against trade barriers imposed by the United States last week, as relations between the two economic superpowers become increasingly fraught. On Sunday, China’s Ministry of Commerce said it was launching an anti-dumping probe into polyoxymethylene or POM copolymers, a thermoplastic used in various industries ranging from auto parts to electronics, imported from the US, the European Union, Taiwan and Japan. Thermoplastics are malleable when heated but become fixed in a solid shape when cooled, and can partially replace metals such as copper and zinc. The investigation should take a year to complete, but may be extended by another six months, the ministry added.
Persons: Joe Biden Organizations: CNN, United, China’s Ministry of Commerce, European Union, EV Locations: China, United States, Taiwan, Japan
Copper "is the most compelling trade I have ever seen," Carlyle's Jeff Currie said on the Odd Lots podcast. He thinks the metal's massive mismatch in supply and demand could push its price up to $15,000 a ton. AdvertisementCopper supply issues are making the metal considerably more expensive, says commodities veteran Jeff Currie, who is very bullish on the opportunity. He later added: "I just quote many of our clients and other market participants say it's the highest conviction trade they've ever seen." Though not necessarily part of his acronym, artificial intelligence is also amplifying industry demand, Currie mentioned.
Persons: Carlyle's Jeff Currie, Currie, , Jeff Currie, Carlyle, Currie —, Goldman Sachs, policy's, copper's, deglobalization Organizations: Industry, Service, Bloomberg, US, BHP Locations: China, Panama
Winning in China's electric car market is no longer just about having the cheapest price. Despite new U.S. tariffs , the Chinese electric car industry is already moving into a new phase of competition no longer centered on sticker prices alone, many in the industry say. Hong Kong-listed Fuyao, a major supplier of glass for cars, is one of JPMorgan's top picks to take advantage of China's growing electric car market. The Shenzhen-listed Chinese battery giant, Contemporary Amperex Technology , is one of JPMorgan's top Chinese electric car supply chain plays. Last week, Chinese electric car company Nio released a new car in a lower-priced range of just over 200,000 yuan.
Persons: Stephen Dyer, AlixPartners, BYD, Xiaomi, Tesla, Nio, William Li, — CNBC's Michael Bloom Organizations: JPMorgan, Greater, Greater China Business, Amperex, Li Auto, Tesla Locations: Hong Kong, China, Greater China, Asia, Beijing, Shenzhen
Ford's F-150 Lightning was the most popular EV pickup in March, per S&P Global Mobility data. Over 1,100 new Cybertrucks were registered in the month, according to the data. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The edgy pickup was second only to Ford's F-150 Lightning, according to new vehicle registration data from S&P Global Mobility that was first reported by the Automotive News. During the month of March, the Cybertruck had 1,158 new registrations, while the Lightning had 2,893.
Persons: Ford's, Tesla, , Cybertruck, Rivian's R1T Organizations: P Global, Service, Automotive, Lightning, Business
AdvertisementWhen I received the email stating that my position had been eliminated, I was already on my way to work. Camping in the car parkI worked really hard while I was at Tesla and wanted to be as efficient and productive as possible. In 2021, I started sleeping in my car and showering in the factory to avoid my lengthy commute. AdvertisementI was camping in the car between my work shifts for a whole year. I worked hard for them, but that does not mean I plan to give up being a hard worker.
Persons: , Nico Murillo, Tesla, doesn't, I'd, I've, It's Organizations: Service, Tesla, Business Locations: Fremont , California, GNC
How Toyota took on America's trucks
  + stars: | 2024-05-18 | by ( Darren Geeter | Robert Ferris | Christina Locopo | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow Toyota took on America's trucksThe pickup truck segment is perhaps Detroit's last stronghold in the U.S. auto market, with the Ford, Chevrolet, GMC and RAM brands leading or outright dominating three out of four pickup segments. But the midsize Toyota Tacoma has had the longest-running tenure in that segment where it outsells all rivals by a large margin. But Tacoma is facing fresh challenges in the next few years, from foreign names such as Hyundai and Volkswagen to legacy U.S. automakers to EV makers like Rivian and Tesla.
Organizations: Toyota, Ford, Chevrolet, GMC, Toyota Tacoma, Tacoma, Hyundai, Volkswagen, U.S, EV Locations: U.S
In an aerial view, brand new Tesla cars sit parked in a lot at the Tesla Fremont Factory on April 24, 2024 in Fremont, California. Faced with weakening demand for Tesla EVs and increased competition, the company has been slashing headcount since at least January. Previous filings revealed that Tesla would cut more than 6,300 jobs across California, Austin, Texas and Buffalo, New York. The WARN filing shows that to be the case, with many cut from the team at Tesla's Hanover Street location in Palo Alto. Read the latest WARN filing in California here:
Persons: , Elon Musk, Tesla, Musk, Kato, CNBC's David Faber Organizations: Fremont Factory, California Employment Development Department, CNBC, Tesla, Tesla's, American, Twitter Locations: Fremont , California, California, Fremont, Palo Alto, Austin , Texas, Buffalo , New York, Tesla's Hanover, China, robotaxis, U.S
Read previewFord is asking its suppliers to help them cut electric vehicle manufacturing costs, soliciting money-saving ideas in a new memo sent to suppliers this week. "We have all invested heavily in the success of the EV business, and we will all win or lose together." These shoppers are more practical, frugal, and more likely to be considering electric, hybrid, and gas-powered options at the same time. In these matchups, hybrids have been winning as of late, a phenomenon that Musk has said is detrimental to the electric vehicle market. Industry experts, however, say hybrids are a good bridge technology for future EV adopters.
Persons: , Ford, Elon, Liz Door, Tesla Organizations: Service, Detroit Business, Business, Ford, Industry, Crosstown, GM Locations: Detroit, North America
Elon Musk has a lot going on in China right now. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementElon Musk has plenty on the line in China right now. China is Tesla's biggest market outside the US, which means dwindling interest has had a clear knock-on effect. This story is available exclusively to Business Insider subscribers.
Persons: Elon Musk, It's, , Elon Organizations: EV, Service, Business Locations: China
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailXpeng vice chair says 'right now we have no plans' to enter the U.S. marketBrian Gu, vice chair of Chinese auto giant Xpeng, discusses the EV market with CNBC's Emily Tan in Hong Kong.
Persons: Brian Gu, Emily Tan Locations: U.S, Hong Kong
In this article XPEV9868-HK Follow your favorite stocks CREATE FREE ACCOUNTXpeng's "Land Aircraft Carrier" vehicle has a flying passenger drone hidden inside the truck. XPENG AEROHTXpeng AeroHT, an affilaite of Xpeng , aims to deliver its flying car to customers in 2026, the Chinese electric vehicle maker's co-president told CNBC on Friday, Last year, Xpeng AeroHT introduced the Land Aircraft Carrier — a large truck with a flying two-seater passenger electric drone inside. The flying car can detach from the truck, and people can then get into the drone and fly it. Xpeng said this year that the flying car is currently going through a certification process with the Chinese aviation regulator. The 2026 timeline is slightly later than the fourth-quarter 2025 delivery target that Xpeng had previously touted.
Persons: Xpeng AeroHT, Brian Gu, Xpeng, Gu, Xiaopeng Organizations: HK, CNBC, Aircraft Locations: Xpeng
Read previewChevrolet is just getting started on its takeover of the electric car market, says Steve Majoros, the brand's chief marketing officer. It's not exactly a great time to put more electric vehicles on sale. But the tides finally are turning in Chevrolet's favor, Majoros said, as EV shoppers gravitate to more practical options and legacy brands. Recent studies on a new cohort of electric car shoppers show that they are more inclined to consider purchasing an electric car from a legacy brand. After years of a virtual monopoly on the EV market, shoppers are growing tired of Tesla and looking for fresher options.
Persons: , Steve Majoros, Majoros, musing, Elon Musk, Elon Musk's Tesla, Tesla, We've Organizations: Service, longtime, Business, Silverado, Tesla, Chevrolet, Elon, EV, Detroit, GM Locations: Chevrolet's
Here are Friday's biggest calls on Wall Street: Bank of America reiterates Nvidia as buy Bank of America said top pick Nvidia remains "compelling" heading into earnings next week. Bank of America reiterates Marvell as buy Bank of America said it's sticking with its buy rating heading into earnings later this month. " Citi reiterates Walmart as a top pick Citi said the stock remains a top pick following earnings. Chevron Corp. (CVX): Reiterate Constructive View on Inflecting FCF Generation and Relative Valuation; Buy with 13% Total Return." "Near-term caution is offset by our increasingly bullish medium-term outlook, where CRM is well positioned for GenAI & valuation remains undemanding."
Persons: Marvell, Roth, Ree, Roth MKM, it's, REE, Wells, Oppenheimer, Reddit, Goldman Sachs, Tesla, Goldman, BTIG, Baird, Jefferies, Morgan Stanley, Baidu, Wolfe, UAL, Cantor Fitzgerald, Cantor, Price, Stifel, Salesforce Organizations: Bank of America, Nvidia, Ree Automotive, EV, Netflix, Citi, OpenAI, Google, Walmart, Darden, Jefferies, DuPont, Macquarie, Stock, underperform Bank of America, Chevron, Chevron Corp, JPMorgan, Body, United Airlines, Price Target, Health, Base Locations: Thu, Olive, China, United, Underperform
Chinese auto giant Xpeng wants to deliver flying cars by 2026
  + stars: | 2024-05-17 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChinese auto giant Xpeng wants to deliver flying cars by 2026Brian Gu, vice chair of Xpeng, discusses the EV market — and the future of flying cars — with CNBC's Emily Tan in Hong Kong.
Persons: Brian Gu, Emily Tan Locations: Hong Kong
These tiny EVs are making a big impact
  + stars: | 2024-05-17 | by ( Tom Carter | ) www.businessinsider.com   time to read: +4 min
Here are some of the tiny EVs making a splash in Asia and Europe. AdvertisementChief among those is the Seagull, a tiny EV that can go 305 km on a single charge and costs $11,000. SOPA Images/Getty ImagesJapan has long had a soft spot for tiny EVs, known as Kei cars — and the Nissan Sakura is one of the most popular. BITechnically speaking, the Citroen Ami isn't an electric car at all, but an "electric quadricycle." The tiny microcar has been on sale in Europe since 2021, with a UK launch mooted for later this year.
Persons: , Nissan Sakura, Tesla, Aly Song, Reuters BYD, Elon, HECTOR RETAMAL, Citroen Ami, Citroen Ami isn't, Ami, Merlin Ouboter Organizations: Service, Nissan, Tesla, Ford, Business, Reuters, SAIC, General Motors, Japan, Citroen, BI, Getty Locations: China, Japan, Europe, Asia, Guang, Shanghai, France, London, Swiss
The White House decided to delay by two years tariffs on graphite, a key metal in EV lithium-ion batteries that helps them store energy. But a senior Biden administration official said during a call with reporters that some tariffs would kick in in 2026 to allow battery supply chains to transition. However, those batteries can still source graphite from China until at least 2027 under the Biden administration's policy. Beyond graphite, other tariffs that Biden slapped on China's green tech are mostly symbolic. But steeper taxes on batteries this year could affect US automakers such as Ford and Tesla, which import from China.
Persons: Joe Biden, Gene Berdichevsky, Berdichevsky, Sila, EVs, Biden Organizations: Service, White, Business, US Department of Energy, Mercedes, Benz, Manufacturing, Biden, Environmental Defense Fund Locations: China, Washington ,, Moses Lake , Washington, Southeast Asia
Read previewTesla CEO Elon Musk made the snap decision to fire the entire Supercharger team after its division chief refused to make further layoffs happen, Reuters reported on Wednesday. The billionaire said in an email to staff on April 29 that he was dissolving the entire team behind Tesla's charging infrastructure, per The Information. AdvertisementRepresentatives for Tesla, Musk, and Tinucci didn't respond to Reuters' request for comment. The Tesla chief moved quickly to assuage concerns, and assured investors that Tesla's Supercharger network isn't going anywhere. A slowdown in the rollout of Tesla's charging infrastructure would thus be a setback for Biden's clean-energy agenda.
Persons: , Elon Musk, Musk, Rebecca Tinucci, Tinucci, Tesla's, Tesla, Mercedes Benz, haven't, Aaron Luque, Joe Organizations: Service, Reuters, Bloomberg, Business, Tesla, The, Motors, Ford, Politico, BI
NIO launches its second brand ONVO and its first model L60 on May 15. SHANGHAI — Chinese electric car startup Nio is adjusting its approach to global markets in light of geopolitical developments, CEO William Li told reporters Thursday. Nio launched its lower-priced brand Onvo on Wednesday with a new L60 SUV that's about $4,000 cheaper than Tesla's Model Y. "For example, in Europe we previously used a direct sales method," said Li, who founded Nio about 10 years ago. That can include local distribution or production, Li said, describing the strategy overall as "global capability, local operation."
Persons: Ai Tiecheng, NIO, ONVO, William Li, Li, Nio, BYD Organizations: NIO, CNBC, GAC's Locations: Shanghai, China, SHANGHAI, Europe
Copper futures hit a record high on Wednesday as demand for the base metal stays strong amid a rush to build data centers and the continued electrification of the global economy. It is integral to manufacturing electric vehicles, power grids and wind turbines, especially as the global economy electrifies. The International Energy Agency is expecting power demand from data centers to more than double to over 1000 terawatt-hours (TWh) in 2026 from 460 TWh in 2022. Copper production growth forecast for 2024 has been cut to 0.5% compared with a 3.7% growth estimated by ICSG last October 2023. Anglo American, a major producer, said it would cut copper output in 2024 and 2025 as it seeks to cut costs.
Persons: ICSG Organizations: Aurubis, Bank of America, International Energy Agency, Study, Quantum Minerals, Citi, London Metals Exchange Locations: Hamburg, Germany
Six Flags stock has ticked up nearly 7% in 2024. The analyst reiterated an overweight rating on the stock as well as a $1,200 per share price target, implying more than 31% upside from Tuesday's close. The analyst has a buy rating on Nvidia with a $1,150 per share price target, or about 26% upside ahead. He also raised his price target on U.S.-listed shares to $5.40 per share from $4.80, though the new forecast calls for a 6% decline over the next year. NIO YTD mountain NIO YTD Lai had downgraded Nio to underweight in February due to slowing sales momentum.
Persons: Chris Woronka, Woronka, Brian Evans, John Vinh doesn't, NVDA, Vinh, Timothy Arcuri, Arcuri, — Brian Evans, Goldman Sachs, Alphabet's, Eric Sheridan, Sheridan, Oppenheimer, Jason Helfstein, GOOG, Helfstein, Brent Thill, Jefferies, Nick Lai, YTD Lai, Fred Imbert, ~$ ( ~$) Organizations: CNBC, JPMorgan, Deutsche Bank downgrades, Flags Entertainment, Deutsche Bank, Fair, Nvidia, Blackwell, UBS, Google, Gemini
President Donald Trump and Democratic presidential candidate Joe Biden during the final presidential debate at Belmont University in Nashville, Tennessee, on Oct. 22. President Joe Biden on Wednesday challenged former Donald Trump to two head-to-head debates before the November election, with several special conditions. Both proposed showdowns would be held without the involvement of the non-partisan commission that typically organizes presidential debates. "Just tell me when, I'll be there," wrote Trump. " During the 2020 debates, Biden and Trump regularly broke out into shouting matches as they each tried to get a word in edgewise.
Persons: Donald Trump, Joe Biden, Biden, Trump, Donald, Jen O'Malley Dillon, O'Malley Dillon, Trump's, Robert Kennedy Jr, doesn't Organizations: Democratic, Belmont University, Wednesday, Republican, CNN, Republican National Convention, Democratic National Convention, White, New York Times, American People Locations: Nashville , Tennessee, Democratic, York, Pennsylvania, Michigan, Wisconsin, United States
Read previewOf the more than 15 million cars sold in the US last year, none wore the badge of a Chinese car brand. With the government's existing 27.5% tariffs on Chinese-made cars and Tuesday's new 100% tariffs on Chinese-made EVs imported to the US, the situation isn't likely to change anytime soon. AdvertisementAccording to Automotive News data, US consumers purchased more than 104,000 Chinese-made vehicles in 2023, up 45% from 2022. Americans bought another 28,000 Chinese-made cars during the first quarter of 2024. Here's a closer look at the Chinese-made cars on sale in the US.
Persons: , Volvo's, Here's Organizations: Service, EV, SAIC, Business, Buick's, Automotive News, Buick, Lincoln, Volvo, Geely Automotive, Biden Locations: China, Polestar, South Carolina
The European Union must avoid a harmful decoupling of global trade as it mulls tariffs on Chinese electric vehicles and other goods, the bloc's economic chief said Wednesday. "But this is not bringing us to a theory of decoupling of global trade, which would be a disaster for both parts of the decoupling," he said. "The characteristic of the EU economy is to be more open, more influenced by trade, and less by only internal consumption. This is the reason, the economic reason, why it is in the interest of the European Union to keep the doors of trade open." Meanwhile, several EU nations are nervous about potential Chinese retaliatory trade measures hitting important domestic industries, from German automotives to French cognac.
Persons: Paolo Gentiloni, CNBC's Silvia Amaro, Gentiloni Organizations: European, European Union, CNBC Locations: European Union, Europe, China, EVs, U.S, Russia, Ukraine
The Biden administration's decision to impose tariffs on $18 billion worth of imports from China could help a handful of stocks break out, according to Morgan Stanley. Stocks that are poised to benefit include U.S. automakers Ford and General Motors , as well as solar panel manufacturer First Solar . Morgan Stanley maintains an overweight rating on First Solar stock. GM YTD mountain General Motors stock. Morgan Stanley maintains an overweight rating on both Ford and GM.
Persons: Morgan Stanley, Laura Sanchez, Sanchez Organizations: Biden, White, U.S, Ford, General Motors, Wall, Department of Commerce and International Trade Commission, GM Locations: China, Cambodia, Malaysia, Thailand, Vietnam
Total: 25