DIRS.INFO The most relevant business & tech news

☆ It’s becoming harder to get — and keep — a car
▼ + stars: | 2024-07-22 | by ( Alicia Wallace | ) edition.cnn.com time to read: +6 min

Cook did the math, made a pros and cons list, and bought a new car. Courtesy Greg CookHis car — the monthly payment, the fast-rising insurance, fuel and maintenance costs — takes up a 30% share of his monthly budget. And buying a car is no cakewalk either: Credit is increasingly harder to come by and rejection rates are spiking. Instead, consumers have been presented with a higher bar, including requirements for a heftier down payment and a higher credit score, he said. More restrictive lending typically equates to approval rates going down and rejection rates rising.

Persons: Greg Cook’s, he’d, I’ve, ”, Cook, Greg Cook, “, Jeremy Robb, “ Everyone’s, Robb, David Paul Morris, they’re, repossessions Organizations: CNN, Cox Automotive, Federal Reserve Bank of New, Federal, Bloomberg, Getty Locations: Oregon, Federal Reserve Bank of New York, Richmond , California

☆ SoftBank stock hits its first record high in 24 years — Arm and AI helped it get there
▼ + stars: | 2024-07-04 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +7 min

The rise of the internet and of Yahoo pushed SoftBank's stock to a peak closing price of 10,111.1 yen on Feb. 18, 2000. After lingering near then-record highs in March 2021, SoftBank's stock fell sharply, alongside other global tech stocks. "Softbank Vision Fund had to write down various investments due to a combination of equity values declining and a tougher private financing environment. Dan Baker, senior equity analyst at Morningstar, said a lot of SoftBank's price appreciation comes down to Arm. Baker said the SOTP valuation remains just under 50% this year, meaning SoftBank's stock does not truly reflect the value of its various businesses and investments.

Persons: Kosuke Okahara, Masayoshi Son, Softbank, SoftBank, Son, Oliver Matthew, Paul Golding, Golding, Dan Baker, I'm, Baker, " Baker, . Organizations: ARM, SoftBank, Bloomberg, Getty, Yahoo, Vision, Vision Fund, Beijing, CNBC, Macquarie U.S, Morningstar, Nikkei Locations: Tokyo, British, Japan, U.S, Alibaba

☆ Hybrids are having a moment. Here's what you need to know if you're in the market.
▼ + stars: | 2024-06-30 | by ( Nora Naughton | ) www.businessinsider.com time to read: +1 min

Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. These shoppers are turning to bridge technologies like hybrids and plug-in hybrids, reviving a segment once thought by some to be a relic of the pre-Tesla automotive industry. This story is available exclusively to Business Insider subscribers.

Persons: — Organizations: Service, Business

☆ Extended CDK outage brings chaos to car dealers
▼ + stars: | 2024-06-30 | by ( Samantha Delouya | ) edition.cnn.com time to read: +4 min

CNN —As the ongoing systems outage at software provider CDK Global stretches into its second week, car dealerships are racking up millions of dollars in losses, according to a new estimate. Piecemeal progressThe outage began last Wednesday after two cyber incidents halted the company’s systems, which provide software to nearly 15,000 car dealerships across North America, according to CDK. “I work at a major body shop, and it has really hurt us,” one worker wrote to CNN about the outage. “15,000 dealerships is an awful lot to have control over when you do the math,” Irvin said of CDK. And after more than a week at home, Phillips’ boss texted him to return to work on Friday.

Persons: “ It’s, ”, Bernard Irvin, “, ” ‘, Norm Phillips, hadn’t, ” Phillips, “ I’ve, CDK, Phillips, ” Phillips wasn’t, ” Irvin, Irvin, texted, “ I’m Organizations: CNN, CDK, Workers, Ford, Anderson Economic, Dealer, Benz, Honda, Ford Bronco Sport, Ford Bronco Locations: Greenville , South Carolina, North America, New Jersey

☆ An alphabet soup of 'electrified' vehicles awaits new car buyers as EV sales stall
▼ + stars: | 2024-06-29 | by ( Michael Wayland | ) www.cnbc.com time to read: +9 min

A car shopper today has their pick of traditional internal combustion engine (ICE) vehicles; mild-hybrid electric vehicles (MHEVs); hybrid electric vehicles (HEVs); plug-in hybrid electric vehicles (PHEVs); fuel cell electric vehicles (FCEVs) and battery-electric vehicles (BEVs), also commonly known as EVs. Here's a breakdown: Internal combustion engine (ICE): A "traditional" vehicle with an engine that's fueled with gasoline or diesel. Hybrid electric vehicle (HEV): Think of the Toyota Prius, a vehicle that has a hybrid powertrain system combined with an engine. Plug-in hybrid electric vehicle (PHEV) : These vehicles feature an internal combustion engine combined with a hybrid system, including a larger battery than traditional hybrid vehicles as well as a plug to recharge the vehicle's battery. : These vehicles feature an internal combustion engine combined with a hybrid system, including a larger battery than traditional hybrid vehicles as well as a plug to recharge the vehicle's battery.

Persons: Paul Waatti, Heather Seymour, Seymour, Stellantis, Waatti, Michael Wayland, Antonio Filosa, Russell Wager, Jérémie Papin, BEV Organizations: DETROIT —, Pacifica, Toyota, CNBC, Motors, Chevrolet, Kia America, EV, Kia, GM, Detroit, GM Energy, Ford Motor, Auto, Nissan, ICE, Toyota Prius Locations: U.S, Stellantis, St, Johns , Florida, Detroit, Japan, South Korea, Germany

☆ EV charging is so bleak in the US that 46% of owners are considering going back to gas-powered cars
▼ + stars: | 2024-06-28 | by ( Nora Naughton | ) www.businessinsider.com time to read: +3 min

Read previewIssues with charging has nearly half of electric-vehicle owners in the US considering going back to fossil fuels — the latest bad sign for the EV transition. A recent consumer study conducted by McKinsey found that 46% of US EV owners surveyed were likely to switch back to a gas-powered vehicle, compared to a global average of 29% of EV owners who said they would likely switch back to an internal-combustion engine. Respondents said the top reason for ditching their EVs was a lack of charging infrastructure. Though a push from the automotive industry to fund charging infrastructure has led to a boom in public charging stations in the last two years, these have largely been money-losing ventures. The Biden administration has set aside $7.5 billion for charging infrastructure and has said it would add 500,000 EV charging stations by 2030.

Persons: —, Tesla, Biden Organizations: Service, McKinsey, EV, Business Locations: Australia

☆ The lack of EV charging infrastructure is so bad it's driving owners back to gas-powered cars
▼ + stars: | 2024-06-28 | by ( Nora Naughton | ) www.businessinsider.com time to read: +3 min

Read previewIssues with charging have nearly half of electric vehicle owners in the US considering going back to fossil fuels – the latest bad sign for the EV transition. The top reason respondents listed for ditching their EV was a lack of charging infrastructure. Charging infrastructure here has long been a hot-potato issue, which has held back efforts to build more chargers. While a push from the automotive industry to fund charging infrastructure has led to a boom in public charging stations in the last two years, these have largely been money-losing ventures. On the government side, the Biden Administration has set aside $7.5 billion for charging infrastructure with a vow to add 500,000 EV charging stations by 2030.

Persons: —, Tesla, Biden Organizations: Service, McKinsey & Co, EV, Business, Biden Administration Locations: Australia

☆ Chinese automakers expected to achieve 33% global market share by 2030
▼ + stars: | 2024-06-27 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

Much of the growth, from a forecast 21% market share this year, is expected to come outside of China. The rapid expansion of Chinese automakers is a growing concern for legacy automakers and politicians globally. In North America, Chinese automakers are forecast to only achieve a 3% market share, largely in Mexico, where one in five vehicles are expected to be Chinese brands by 2030. In most other major regions of the world, AlixPartners reports that the share of Chinese automakers is expected to exponentially grow. Chinese brands in China also are expected to grow from 59% to 72% in market share, according to AlixPartners.

Persons: AlixPartners, Mark Wakefield Organizations: Auto Guangzhou, China Import, Export, Visual China, Getty Images, AlixPartners, General Motors, Nurphoto, Getty Locations: Guangzhou, Guangdong Province of China, China, Japan, North America, U.S, AlixPartners, Mexico, Central, South America, Southeast Asia, East, Africa, Bangkok, Nonthaburi Province, Thailand

☆ Bank of America likes this new AI play from the auto sector
▼ + stars: | 2024-06-20 | by ( Sean Conlon | ) www.cnbc.com time to read: +2 min

Before a multiyear adoption cycle for artificial intelligence -enabled dashcam technology takes hold, investors should watch a key software stock in the automotive industry , according to Bank of America. " Samsara (IOT) is revolutionizing roadway safety," analyst Matt Bullock wrote in a Thursday note. Bullock thinks Samsara's new offerings may move the needle for the company's growth in the long term. "They also have smaller R & D budgets and install-bases from which to collect data and improve AI models," Bullock added. "Because of this, we expect Samsara to remain on the cutting edge of the video-based safety software market."

Persons: Matt Bullock, Bullock, there's Organizations: Bank of America

☆ Gen Z and millennial NEETS are on the rise — many say they'd rather do nothing than be unhappy at work
▼ + stars: | 2024-06-20 | by ( Lindsay Dodgson | ) www.businessinsider.com time to read: +7 min

Many NEETs are listless, struggling through tough economic times, living off loans, and losing hope of retirement or buying a house. Voluntarily idleSome Gen Zers struggle to find a job or stay in work or education, earning the nickname "disconnected youth." But some Zoomer and millennial NEETs are happy to wait out unemployment for the right career path. Advertisement"It reveals how much shame in guilt is built into our every day lives," Pitcher told BI of being a NEET. This gives him faith that things will be OK, he told BI.

Persons: —, Zers, Louis, Morgan Pitcher, Pitcher, Leonie, Lukas, James Watts, Gen Zers, Watts, Laurie Cure, Darrin Murriner, Murriner Organizations: Service, International Labour Organization, Business, Gallup, St, Louis Federal Reserve's Institute for Economic Equity Locations: Vancouver

☆ Inside the downfall of Henrik Fisker's second automotive startup, which just filed for bankruptcy
▼ + stars: | 2024-06-18 | by ( Grace Kay | ) www.businessinsider.com time to read: +19 min

AdvertisementA Fisker spokesperson said it would be "unfair" to compare the two companies. A Fisker spokesperson denied comments that Henrik took on a more passive role and said he was "deeply involved." AdvertisementA Fisker spokesperson said Magna was responsible for testing and releasing the Ocean and it had been fully certified by regulators in the US and Europe. A Fisker spokesperson pushed back on the comments questioning Henrik's business prowess. For Henrik, whose earlier company, Fisker Automotive, filed for bankruptcy in 2013, his present predicament echoes the past.

Persons: —, Henrik Fisker, Wendy Gruel's, Geeta Gupta, Gupta, Henrik Fisker's, James Bond, Henrik, Fisker, Rivian, Tesla, Phil McCarten, Magna, hadn't, YouTuber, Marques Brownlee, Kurt Mechling, he'd, they'd Organizations: Service, Business, TechCrunch, Aston Martin, BMW Z8, Magna International, Fisker Inc, Apollo Global Management, Tesla, Ford, GM, Magna, Reuters, Fisker, Business Insider, Engineers, Traffic Safety Administration, NHTSA, Technicians, California Bureau of Automotive, BI, New York Stock Exchange, Fisker Automotive Locations: Fisker, Europe, California, Graz, Austria, Panera

☆ Hyundai: India’s biggest IPO could come from South Korean car manufacturer
▼ + stars: | 2024-06-17 | by ( Diksha Madhok | ) edition.cnn.com time to read: +3 min

The world’s biggest car market after China and the United States is the company’s third-biggest revenue generator globally. Hyundai India also said it wants to ship more cars, “strengthening” its position as an export hub. The South Korean parent will sell up to 142 million of the total 812 million shares, or 17.5%, in the IPO. With the IPO, Hyundai aims to unlock value for the Indian business and also help the Korean automaker shed its valuation discount compared to global and Asian peers. Hyundai is being advised on the IPO by investment banks Citi, JP Morgan, HSBC, Morgan Stanley and India’s Kotak.

Persons: Maruti Suzuki, Narendra Modi, JP Morgan, Morgan Stanley, India’s Organizations: Hyundai, Maruti, Tata Motors, Securities and Exchange Board of India, EV, South, Benchmark, Citi, HSBC Locations: India, Mumbai, Korean, China, United States, Hyundai India

☆ People are delaying buying new cars, creating a deflationary 'spiral' that's bad news for the auto industry
▼ + stars: | 2024-06-15 | by ( Nora Naughton | ) www.businessinsider.com time to read: +1 min

Delayed purchases can lead to a "deflationary spiral" for the automotive industry. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . High interest rates remain a big deterrent for many car shoppers, and price volatility has some car shoppers delaying their purchases in hopes they can get an even better deal in a month or two. That's creating a big problem for the automotive industry, according to one economist. This story is available exclusively to Business Insider subscribers.

Persons: —, It's Organizations: Service, Business

☆ Maker of Jeep and Dodge plans to kill chrome on cars, citing risks to those who make it
▼ + stars: | 2024-06-14 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +8 min

Southern California boasts the highest concentration of chrome plating shops in America and regulators in that state have been requiring those methods for years. But California is now moving toward an outright ban on chrome plating using hexavalent chromium while offering funding for chrome platers to transition to other methods. In 2019, green slime oozing out onto a highway near Detroit was found to be hexavalent chromium leaking from a nearby business. “We are also using light as the new chrome,” VW said in a statement shared with CNN. “Chrome peaked in the ’50s with the big American land yachts and stuff with giant chrome bumpers and giant chrome grills.

Persons: CNN —, It’s, ”, Leslie Kendall, Stellantis, it’s, Ralph Gilles, Gilles, Christian Richter, “, ” Gilles, ‘, ’, Bentley –, VW, Peter Valdes, Petersen, Kendall, we’ve Organizations: CNN, Petersen Automotive Museum, Fiat, Maserati, California Air Resources Board, Chrysler, Occupational Safety, Health Administration, National Association, EPA, OSHA, Chrysler Pacifica, Chrysler Pacifica Limited, Volkswagen, VW Group, Audi, Bentley, VW, “ Locations: Los Angeles, United States, Europe, Southern California, America, California, Detroit, Michigan, NASF

Employees work on the assembly line of new energy vehicles at a factory of Chinese EV startup Leapmotor on April 1, 2024 in Jinhua, Zhejiang Province of China. The additional tariffs are the result of an EU probe that began in October. Main Chinese BEV producer BYD was struck with a 17.4% tariff, with Geely slapped with a 20% duty. "We strongly oppose the use of increased tariffs as a strategy to obstruct the normal global trade of electric vehicles. watch nowGlobal EV trade tensions

Persons: Shi Kuanbing, Valdis Dombrovskis, Dombrovskis, BEV, BYD, Geely, Elon Musk's Tesla, Tesla, Nio Organizations: Visual China, Getty, Union, EV, European Commission, EU, CNBC, China's Ministry of Commerce, Google, World Trade Organization, SAIC, Global Locations: Jinhua, Zhejiang Province, China, Europe, Shanghai

☆ Inside Henrik Fisker's second failed automotive startup
▼ + stars: | 2024-06-12 | by ( Grace Kay | ) www.businessinsider.com time to read: +18 min

AdvertisementA Fisker spokesperson said it would be "unfair" to compare the two companies. A Fisker spokesperson denied comments that Henrik took on a more passive role and said he was "deeply involved." AdvertisementA Fisker spokesperson said Magna was responsible for testing and releasing the Ocean and it had been fully certified by regulators in the US and Europe. But in the year since the Ocean's release, the company has delivered around 7,000 vehicles, a Fisker spokesperson said. A Fisker spokesperson pushed back on the comments questioning Henrik's business prowess.

Persons: —, Henrik Fisker, Wendy Gruel's, Geeta Gupta, Gupta, Henrik Fisker's, James Bond, Henrik, Fisker, Rivian, Tesla, Phil McCarten, Magna, hadn't, YouTuber, Marques Brownlee, Kurt Mechling, he'd, they'd Organizations: Service, Business, TechCrunch, Aston Martin, BMW Z8, Magna International, Fisker Inc, Apollo Global Management, Tesla, Ford, GM, Magna, Reuters, Fisker, Business Insider, Engineers, Traffic Safety Administration, NHTSA, Technicians, California Bureau of Automotive, BI, New York Stock Exchange Locations: Fisker, Europe, California, Graz, Austria, Panera

☆ Kia says hybrids aren't a threat to EVs but are the perfect gateway to electrification
▼ + stars: | 2024-06-11 | by ( Benjamin Zhang | ) www.businessinsider.com time to read: +5 min

While EV sales fell in the first quarter of 2024 by more than 15% compared to the previous three months — their first drop since 2020 — hybrid sales are booming. But Kia sees hybrids as an opportunity to get potential BEV buyers in the door. AdvertisementBut if you look at the largest and arguably most important segment these days, compact SUVs, hybrids account for nearly one-fifth of sales, Kosowski said. AdvertisementFor Kia, building hybrids instead of EVs affects its bottom line beyond the revenue it generates. EVs cost substantially more to build than ICE and hybrid vehicles.

Persons: —, Steve Kosowski, Kia, Kosowski, Kia Niro, ROBIN TRAJANO, BEV, ZEV Organizations: Service, Business, Long, Kia Motors America, EV, Kia, ICE Locations: PWC

☆ An icon of Detroit’s ruin is now a symbol of Motor City’s economic resurgence
▼ + stars: | 2024-06-03 | by ( Alicia Wallace | ) edition.cnn.com time to read: +10 min

CNN —For more than 35 years, Michigan Central Station has lain dormant, towering above Detroit’s Corktown neighborhood as a harsh and stoic reminder of the city’s economic pain. Now, Michigan Central Station, the neighboring old Book Depository and Butler himself are all symbols of hope for Detroit’s future and its ongoing economic resurgence. An aerial view of Michigan Central Station and the surrounding property, including the former Book Depository (left), under construction in 2020. Stephen McGee/Michigan Central Michigan Central Station's Grand Hall before and after the six-year renovation project funded by the Ford Motor Company. And with Michigan Central Station coming online, that’s only expected to grow.

Persons: Ronald Butler, “ We’ve, ” Butler, Timothy Fadek, ”, Henry Ford’s, Butler, James Haefner, Mary Culler, Ford, ‘, Kevin Johnson, Stephen McGee, ” Johnson, “, Johnson, Charles Dougherty, I’m, Geoff Robins, ’ ” Dan Austin, Eminen’s, Rebecca Cook, Bill Ford, CNN’s Poppy Harlow, Michigan Central Stephen McGee, tradespeople, Carlos Osorio, ” Austin, Josh Sirefman Organizations: CNN, Michigan Central, Detroit Fire Department, ”, Train Station, Motor, Detroit, Michigan Central Station, Storage Safety, Michigan, Ford Motor Company, Depository, Ford, Detroit Economic Growth Corporation, of Labor Statistics, Getty, Honda Accord, Reuters, Denver’s, Michigan Central Michigan Central Station's Locations: ” Michigan, Motor City, Michigan, Detroit, “, Wells Fargo, AFP, ”, ’ ” Dan Austin , Michigan, America, Indiana

☆ See inside Ford's new tech campus, a century-old Detroit train station restored for $950 million
▼ + stars: | 2024-06-03 | by ( Michael Wayland | ) www.cnbc.com time to read: +8 min

The $950 million project encompasses the 18-story former train station called Michigan Central Station – once the state's marquee transit building – an adjacent 270,000-square-foot building and other, supporting facilities. The 30-acre "Michigan Central" campus and station was initially announced in 2018 and slated to open by 2022. Train station campusThe Michigan Central campus is located southwest of Detroit's main business district in a trendy neighborhood known as Corktown. The Michigan Central campus in total spans 1.2 million square feet of commercial space, including retail, restaurants and hospitality. The restored grand waiting room inside Ford's Michigan Central Station in Detroit.

Persons: Michael Wayland, Bill Ford Jr, Ford, Bill Ford, He's, Henry Ford, Ford Ford, Josh Sirefman, it's, It's Organizations: CNBC DETROIT, Michigan Central, Ford, CNBC, General Motors, Renaissance, eBay, Michigan Central Station, Detroit, Michigan, Central Station, CNBC Ford, Architects, Detroit Public, Depository, Google, Detroit Lions Locations: Motor, Michigan, Detroit, Silicon Valley, California, East, Detroit's, Dearborn , Michigan, Ford's, Mankato, Indiana, CNBC, Motor City, Pontiac, Rouge

☆ Porsche reveals first-ever 911 hybrid sports car, starting at $164,900
▼ + stars: | 2024-05-28 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

Porsche on Tuesday revealed the first-ever production hybrid version of its iconic 911 sports car, with a starting price of $164,900. The 2025 911 Carrera GTS hybrid marks a significant change to the iconic German sports car amid the automotive industry's focus on increasing electrified vehicles and tightening fuel economy standards. "We developed and tested various ideas and approaches to decide on a hybrid system that optimally suits the 911," Frank Moser, Porsche vice president of the 911 and 718 model lines, said in a release. The new 911 Carrera GTS can accelerate from 0 to 60 mph in 2.9 seconds – 0.3 seconds quicker than the prior non-hybrid GTS model – and reach a top track speed of 194 mph. It is powered by a newly developed 3.6-liter boxer hybrid engine that produces 532 horsepower and 449 foot-pounds of torque.

Persons: Frank Moser Organizations: Porsche, Carrera, Volkswagen

☆ This maker of seatbelts and airbags is a 'growth safe haven story,' says UBS in upgrade
▼ + stars: | 2024-05-28 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Strong margins, revenue growth and insulation from automotive market headwinds have UBS labeling Sweden's Autoliv as a "growth safe haven story." Autoliv is isolated from short-term industry concerns, such as electric vehicle penetration, "intense capital allocation or China underexposure," UBS analyst Juan Perez-Carrascosa wrote on Tuesday. UBS upgraded Autoliv, a maker of seatbelts, airbags and steering wheels, to buy from neutral and raised its price target by 38% to $141 from $102, which was far below Friday's close at $125.73. The new target implies further upside of 12% for Autoliv, which is up 17% in 2024 after soaring 44% in 2023. ALV YTD mountain Autoliv stock has climbed more than 14% in 2024.

Persons: Sweden's, Juan Perez, Carrascosa, Perez Organizations: UBS Locations: China

☆ Thomas Midgley Jr.: The man who almost destroyed the planet (twice)
▼ + stars: | 2024-05-24 | by ( Jacopo Prisco | ) edition.cnn.com time to read: +12 min

CNN —Facing a crowd of journalists, inventor Thomas Midgley Jr. poured a lead additive over his hands and then proceeded to inhale its fumes for about a minute. Unfazed, he said, “I could do this every day without getting any health problems whatsoever.”Soon afterward, Midgley needed medical treatment. The task of addressing the issue of engine knocking fell to Midgley while he was working at General Motors in 1916. An estimated 1 million people a year still die from lead poisoning, according to the World Health Organization. The toxicity of lead was already well-known when Midgley added it to gas, but that didn’t stop Ethyl from becoming a commercial success.

Persons: Thomas Midgley Jr, “, ”, Midgley, —, Ford, Gerald Markowitz, Colin Creitz, Charles Kettering, ” Markowitz, ” Midgley, Bill Kovarik, Midgley —, Kettering —, Freon, Joe Sohm, CFCs, Perkin, Priestley, Kettering, Willard Gibbs, Carl E, ” Kovarik, Markowitz, I’m Organizations: CNN, General Motors, City University of New, GM, Standard Oil, DuPont, Network, UNICEF, World Health Organization, Radford University, America, Montreal Protocol, International Association for Suicide Prevention, Befrienders, Society of Chemical Industry, American Chemical Society, National Academy of Sciences, TNT, Linde Locations: Beaver Falls , Pennsylvania, United States, City University of New York, Algeria, American, Dayton , Ohio, Virginia, Montreal, Chicago

☆ GM CEO Mary Barra says she has no plans to retire soon as automaker's transformation continues
▼ + stars: | 2024-05-23 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

DETROIT – General Motors CEO and Chair Mary Barra on Thursday said she has no plans to retire any time soon as she tries to ensure the company's transformation is on "a good path." Barra, who is the longest tenured CEO outside of the company's founder, has been asked about retirement for several years. "I'm having a lot of fun, and I want to make sure we have our transformation on a good path," she said during a fireside chat at a Detroit Economic Club meeting. Barra reiterated she serves at the pleasure of the GM board and that she continues to have "fun." Cruise and EVs, along with software-defined vehicles and services, have been among the largest potential growth areas under Barra, who became CEO in January 2014.

Persons: Mary Barra, Barra, I've, Cruise Organizations: Economic, Washington, DETROIT – General, GM, Detroit Locations: Washington , U.S, DETROIT, San Francisco, Barra

☆ An African kingdom famed for its bustling souks and immense desert dunes is revving up to build electric vehicles
▼ + stars: | 2024-05-19 | by ( Nathan Rennolds | ) www.businessinsider.com time to read: +1 min

Morocco has spent the last two decades transforming into Africa's auto-manufacturing hub. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The sun-baked Kingdom of Morocco is renowned as a tourist destination, with its vibrant souks, iconic Moorish architecture, and surreal Saharan desert dunes. This story is available exclusively to Business Insider subscribers.

Persons: — Organizations: Service, Business Locations: Morocco, medina, Kingdom

☆ How racing driverless cars is pushing autonomous technology
▼ + stars: | 2024-05-15 | by ( Amy Gunia | ) edition.cnn.com time to read: +5 min

He’s been working on robotics since the 1980s, and he’s surprised by how quickly autonomous technology has advanced. He sees this in his day-to-day work at KUCARS, where researchers are working on everything from autonomous cars and drones to marine, agricultural, and manufacturing robotics. There have been other autonomous car races before, but A2RL’s was the first to include a race between four driverless cars, according to organizers. “But it was good to push the community.”Team Polimove competes during the Abu Dhabi Autonomous Racing League. Pushing the technology to the edgeEfforts to set driverless cars loose on public roads have faced setbacks, especially as the result of collisions with unforeseen obstacles.

Persons: Lakmal Seneviratne, He’s, he’s, A2RL’s, ” Seneviratne, Daniil Kvyat, Amr Alfiky, Reuters ‘, Max Verstappen, TUM, Seneviratne, Polimove, Giuseppe Cacace, Simon Hoffman, ” Hoffman, Uber, Hoffman, ” Organizations: CNN, Netflix, P Global Mobility, Khalifa University Center, Autonomous Robotic Systems, Khalifa University, Abu Dhabi Autonomous Racing League, Reuters, Beijing Institute of Technology, Abu, Marina Circuit, Abu Dhabi Grand Prix, Technical University of Munich, Getty, Yas Marina Circuit, Khalifa University of Science Locations: Abu Dhabi, KUCARS, Yas

Search resuls for: "Automotive Industry"

25 mentions found