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☆ Detroit went all-in on big, expensive EVs nobody wants. Here's what the data shows they'd rather buy.
▼ + stars: | 2024-03-31 | by ( Nora Naughton | ) www.businessinsider.com time to read: +5 min

Read previewWhen the automotive industry started looking toward an electrified future, Detroit automakers decided to throw their hat in the ring with what they do best: Pickup trucks. Electric pickup truck pioneer Rivian has also warned of slowing growth, and Elon Musk's Tesla already appears to be offering some purchase incentives for the Cybertruck. Only four EVs sell in that range at the moment, according to Edmunds, and none of them are sold by Detroit automakers. On average, EVs sold for around $61,700 last year, $14,250 more expensive than the typical price paid for non-electric vehicles, Edmunds said. AdvertisementGM is taking another approach, pulling back on EV production as the company plans to bring more hybrids (a segment that has seen demand increase while EV demand wanes) to the North American market later this year.

Persons: —, Ford, Rivian, Elon Musk's Tesla, Edmunds, Jessica Caldwell, EVs, BCG, Jim Farley Organizations: Service, Detroit, Ford, Business, GMC, EV, Associated Press, Edmunds, Detroit automakers, Leaf, Fiat 500e, Hyundai Kona Electric, Boston Consulting Group, Bloomberg, North Locations: Detroit, Edmunds

☆ This new SUV’s stereo lets you make phone calls your passengers can’t hear
▼ + stars: | 2024-03-29 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +5 min

Only the driver can hear the call and the person on the other end of the call can’t hear the music playing in the SUV. That’s not a new idea, but headrest speakers are usually found in convertibles where music, phone calls and navigation instructions have to overcome buffeting wind noise. Meanwhile, the person on the other end of the phone call won’t hear the music at all. I could hear Dunn talking but the voice on the other end of the phone came through, at first, as just an intermittent quiet buzz. I could hear Dunn talking to me but not the music that was still playing in the car.

Persons: there’s, McIntosh, That’s, Gabby Jones, that’s, Tom Dunn, Dunn Organizations: New, New York CNN, Infiniti, Benz, Panasonic Automotive, New York, Bloomberg, Getty, Panasonic Locations: New York, Mercedes, Bentley, Manhattan

☆ Japan’s Indy 200: Remembering the first time IndyCars raced at Fuji Speedway
▼ + stars: | 2024-03-28 | by ( Emiko Jozuka For Cnn | ) edition.cnn.com time to read: +10 min

She is the daughter of the Japanese photographer Joe Honda. Joe Honda ArchiveCommercial opportunityIn the 1960s, Japan was emerging as an advanced and high-tech nation following its defeat in WWII. “The groundwork for the Indy 200 was already laid by then, and the Japanese were ready and willing to pay for racing,” he said. Rare intimacyFive months before the Indy 200, Clark had been invited to test-drive the Fuji road course. Joe Honda ArchiveCultural shiftsIn 1966, no Japanese drivers or cars participated in the exhibition Indy 200 race.

Persons: Joe Honda, Japan CNN —, Jim Clark, Honda, Jackie Stewart, Chris Amon, Akira Jin –, –, Shingo Shiozawa, Riki Ohkubo, ”, —, ” Jackie Stewart, Nissan Sunny, Jack K, Yamaguchi, Jin –, Japan –, Shiozawa, Jack Brabham, Clark, Graham Hill, Ohkubo, Honda’s, Colin Chapman, “, ‘, ’ ”, Donald Capps Organizations: CNN, Japan CNN, Jim Clark Motorsport Museum, Indianapolis, IndyCar, Fuji International, Honda, Boys, Indy, Fuji, Japan, Nissan, Prix, Suzuka, Formula, Fuji International Speedway, Bolshoi Ballet, Leningrad Philharmonic, United States Auto, Triple Crown, Motorsport, Monaco, Nippon Auto Club, Speedway, Automotive Society of Historians Locations: Tokyo, Japan, Fuji, Scotland, New Zealand, American, Asia, America, Mie, Indianapolis

☆ 'Too early to judge': Global carmakers contend with closure at busiest U.S. autos port
▼ + stars: | 2024-03-27 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

The remains of the Francis Scott Key Bridge on March 26, 2024 in Baltimore. Michael A. McCoy | The Washington Post | Getty ImagesThe Baltimore bridge collapse on Tuesday prompted carmakers to assess operations after the closure of the busiest U.S. auto port. Six people who had been working on the bridge were presumed dead on Wednesday, after rescuers failed to find them. The Port of Baltimore, the 11th largest port in the U.S. and its busiest for autos and light trucks, has been closed until further notice. Sweden's Volvo Group said it did not expect a significant impact, but was checking its U.S. production facilities.

Persons: Francis Scott Key, Michael A, carmakers, Dimitris Psillakis, it's, Psillakis Organizations: Francis Scott Key Bridge, McCoy, Washington Post, Getty, Logistics, Mercedes, Benz, CNBC, Baltimore, Volkswagen Group of America, Germany's Volkswagen, VW, Audi, Lamborghini, Bentley, Atlantic, Volvo Group, General Motors, Ford, Toyota, Nissan, Mitsubishi Locations: Baltimore, Port, U.S, East, Brunswick, Georgia

☆ Nissan is trying to reinvent itself with a 'balanced portfolio,' AutoForecast Solutions says
▼ + stars: | 2024-03-26 | 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 EmailNissan is trying to reinvent itself with a 'balanced portfolio,' AutoForecast Solutions saysJoseph McCabe, president and CEO of AutoForecast Solutions, discusses the "long game" that Nissan is betting on.

Persons: Joseph McCabe Organizations: Nissan, Solutions, AutoForecast Solutions

☆ Oil prices rise as heightened geopolitical risk exacerbates supply concern
▼ + stars: | 2024-03-25 | by ( ) www.cnbc.com time to read: +2 min

An oil pumpjack pulls oil from the Permian Basin oil field in Odessa, Texas, on March 14, 2022. Oil prices rose in early Asian trading on Monday on concern over tighter global supply brought about by escalating conflict in the Middle East and between Russia and Ukraine, while a shrinking U.S. rig count added to upward price pressure. "Falling U.S. rig count also increased worry over tighter supply," he said. In the Middle East, Israeli forces besieged two more Gaza hospitals on Sunday, pinning down medical teams under heavy gunfire, the Palestinian Red Crescent said. Meanwhile, the U.S. oil rig count fell by one to 509 last week, showed data from energy services firm Baker Hughes , indicating lower future supply.

Persons: Hiroyuki Kikukawa, Israel, Al, Antony Blinken, Benjamin Netanyahu, Baker Hughes Organizations: Brent, NS, Nissan Securities, Kyiv, Palestinian, Israeli Locations: Odessa , Texas, Russia, Ukraine, Lviv, Warsaw, Moscow, Kyiv, East, Gaza, Rafah, U.S

☆ Nissan targets 1 million extra vehicle sales in next 3 years, aims to cut EV costs
▼ + stars: | 2024-03-25 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

A Nissan Ariya electric car is on display during 2020 Beijing International Automotive Exhibition (Auto China 2020) at China International Exhibition Center on September 27, 2020 in Beijing, China. Nissan is targeting an additional 1 million vehicle sales over the next three years and a 30% reduction in electric vehicle production costs by 2030, the Japanese carmaker announced Monday. In a new medium-term business plan, Nissan also said it would launch 30 new models by fiscal year 2026, with 16 of these electrified. "Faced with extreme market volatility, Nissan is taking decisive actions guided by the new plan to ensure sustainable growth and profitability." The country boasts the world's largest and most crowded EV market and its automakers are exerting significant downward pressure on prices.

Persons: Makoto Uchida, Elon Musk Organizations: Nissan, Automotive, China International Exhibition Center, Ford Motor, General Motors, Mercedes, Benz, Volkswagen Locations: China, Beijing

☆ Fisker shares halted as EV company navigates uncertain future
▼ + stars: | 2024-03-25 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +3 min

CNN —Shares of Fisker, a California-based electric vehicle startup, were halted Monday. Its sole product, the Fisker Ocean electric SUV, was produced in Austria under contract by third-party manufacturer Magna Steyr. Last year, 10,000 SUVs were produced but, in its earnings report, the company said only about half had been delivered to customers. The video was titled, “This is the Worst Car I’ve Ever Reviewed.”“Do not buy this version of the Fisker Ocean,” reads the video’s description. But, besides its own quality issues, Fisker had to deal with much greater competition from established automakers than had existed when the company was established.

Persons: Fisker’s, Fisker, Henrik Fisker, Marques Brownlee, ” Organizations: CNN, Reuters, Nissan, Magna Steyr, Mercedes, BMW, EV, American YouTube, Consumer, Automotive News, Hyundai, Kia, Ford, General Motors Locations: California, Alaska, Austria, Ohio, American

☆ Nissan CEO: Demand for EVs is growing, but not consistent
▼ + stars: | 2024-03-25 | 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 EmailNissan CEO: Demand for EVs is growing, but not consistentNissan CEO Makoto Uchida joins CNBC for an exclusive interview to discuss the automaker's new Arc business plan, which will see the automaker release 30 new models and target 1 million additional unit sales in the next three years.

Persons: Makoto Uchida Organizations: Nissan, CNBC

☆ How to stop your internet-connected car from sharing and maybe even selling your driving data
▼ + stars: | 2024-03-23 | by ( Cheryl Winokur Munk | ) www.cnbc.com time to read: +8 min

"The amount of personal and car information that car companies collect, share and sometimes sell is beyond what is necessary to get someone from Point A to Point B safely. But there are growing privacy concerns as reports proliferate about car companies sharing driver data with insurers, and as car companies get into the insurance business themselves. To be sure, there can be valid reasons to collect driver and car data for safety and functionality purposes, and some essential services, such as emergency and security-related data sharing, may be difficult or impossible to opt out of. Ford, for example, said it provides customers with a choice regarding any sharing of connected vehicle data. The government is looking at car privacy regulationsThere are various regulatory efforts afoot to understand carmakers' data-sharing practices and reign in potential privacy violations.

Persons: Jen Caltrider, There's, That's, James Hodgson, Parv Sharma, Caltrider, Cobun Zweifel, Mo Al, Keegan, Edward J, Markey, Eric Goldman, Hodgson, It's Organizations: Mozilla Foundation, Mozilla, ABI Research, McKinsey, Counterpoint Technology Market Research, Ford, Hyundai, Nissan, BMW, Keegan, International Association of Privacy, SBD Automotive, Protection Agency, Federal Trade Commission, Zweifel, Senate Commerce, Science, Transportation, Santa Clara University School of Law, Apple Locations: U.S, California , Colorado, Connecticut, California

☆ Why a small China-made EV has global auto execs and politicians on edge
▼ + stars: | 2024-03-22 | by ( Michael Wayland | ) www.cnbc.com time to read: +12 min

The rise of BYD and other Chinese automakers led Tesla CEO Elon Musk in January to warn that Chinese automakers will "demolish" global rivals without trade barriers. Caresoft, an engineering benchmarking and consulting firm, has already torn down one China-built BYD Seagull and is preparing to do another. Michael Wayland / CNBCThe consulting firm tore apart the BYD Seagull piece by piece to benchmark the small EV against vehicles from other startups and traditional automakers. Its initial study of the BYD Seagull found it to be efficiently and simplistically designed, engineered and executed, but with unexpected quality and anticipated reliability. Growing concernsBYD's rise comes at a precarious time for global auto industry dynamics.

Persons: It's, Terry Woychowski, Warren Buffett, —, BYD, Tesla, Elon Musk, Caresoft Bernstein, Nissan, Michael Wayland, Caresoft, simplistically, Woychowski, Mathew Vachaparampil, CNBC BYD, Stellantis —, Donald Trump, Zach Gibson, Jennifer Granholm, Republican Sen, Marco Rubio, Trump, –, GM Dong, Tang, Marin Gjaja, Gjaja, Ford, you've, Evelyn Cheng, Dylan Butts Organizations: Shanghai International Automobile Industry, National Exhibition, Convention Center, Visual China, Getty, U.S, General Motors, Caresoft, Alliance for American Manufacturing, Overseas, Chevrolet, Nissan Leaf, Bolt, Chicago Federal Reserve, BYD, CNBC, Cox Automotive, Seagull, Tesla, Toyota Motor, Nissan Motor, Honda Motor, Hyundai, Kia, — GM, Ford, Chrysler, U.S ., Washington , D.C, Bloomberg, Republican, North American Free Trade, Republicans, Buick, SAIC, GM, GM Dong Yue Motors Co, Detroit Locations: Shanghai, LIVONIA, Mich, –, China, Europe, Latin America, Detroit, Texas, Germany, Japan, U.S, Livonia , Michigan, America, XPENG, Mexico, Thailand, Brazil, Indonesia, Hungary, Uzbekistan, ., Washington ,, United States, Marco Rubio of Florida, Yantai, Shandong Province

☆ UAW says VW workers at Tennessee plant file for union election
▼ + stars: | 2024-03-18 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

DETROIT – Volkswagen workers at a plant in Tennessee have filed a petition with the National Labor Relations Board for a vote to join the United Auto Workers, the union announced Monday. In 2019, VW workers at the Chattanooga, Tennessee, plant rejected union representation in an 833-776 vote. The Chattanooga plant is Volkswagen's only U.S. assembly plant and employs over 4,000 autoworkers who would be eligible to vote for union representation. "We will fully support an NLRB vote so every team member has a chance to vote in privacy in this important decision. By the end of the UAW contracts, top wages are expected to surpass $42 an hour for production workers.

Organizations: DETROIT, Volkswagen, National Labor Relations Board, United Auto Workers, U.S, UAW, Nissan, VW, NLRB, Detroit automakers, BMW, Honda, Hyundai, Mazda, Benz, Subaru, Toyota, Volvo Locations: Tennessee, U.S, Chattanooga , Tennessee, Chattanooga

☆ UAW files for union vote at Volkswagen’s Tennessee plant
▼ + stars: | 2024-03-18 | by ( Chris Isidore | ) edition.cnn.com time to read: +3 min

New York CNN —The United Auto Workers union is seeking a union representation vote among more than 4,000 hourly workers at the Volkswagen plant in Chattanooga, Tennessee. The union has announced a broad-based campaign to win representation at the American plants of 13 nonunion automakers. That is slightly more than the union’s representation at the three unionized automakers, which have about 145,000 UAW members between them. The VW Chattanooga plant is the only factory operated by VW that does not have union representation. Once the election process starts, management often holds mandatory meetings with staff to make the case against union representation, and that convinces some earlier supporters of the union to end their support.

Persons: –, ”, Victor Vaughn, ” Vaughn, “ Organizations: New, New York CNN, United Auto Workers, Volkswagen, BMW, Honda, Hyundai, Mazda, Nissan, Subaru, Toyota, Volvo, – Tesla, –, Motors, Ford, Jeep, Dodge, Chrysler, VW, ” Locations: New York, Chattanooga , Tennessee, VW Chattanooga, Chattanooga

Germany’s DAX added 0.1% to 17,959.35 and the FTSE 100 in London edged 0.1% higher to 7,731.73. Markets are awaiting a decision by the Bank of Japan on Tuesday on whether to raise its benchmark interest rate for the first time in 17 years. The Hang Seng in Hong Kong edged 0.1% higher to 16,737.12, and the Shanghai Composite index gained 1% to 3,084.93. Elsewhere, Australia’s S&P/ASX 200 edged 0.1% higher to 7,675.80, and the Kospi in South Korea advanced 0.7%, to 2,685.84. A report on consumer prices last week showed inflation remains stubborn, ticking up to 3.2% in February from 3.1% in January.

Persons: Germany’s DAX, Australia’s Organizations: Japan’s, Federal Reserve, CAC, Dow Jones, Nikkei, Bank of Japan, Honda Motor, Dongfeng Motor, Nasdaq, Software, Adobe, Microsoft, Broadcom, Google, University of Michigan, Fed, Traders, CME Group, New York Mercantile Exchange, Brent, U.S Locations: HONG KONG, London, Paris, Tokyo, Hong Kong, Shanghai, China, South Korea, India, Bangkok, U.S

The union has come close to representing workers at the VW plant in two previous elections. Some prominent Tennessee Republican politicians had urged workers to vote against the union during both campaigns. The year after the 2014 vote failed, 160 Chattanooga maintenance workers won a vote to form a smaller union, but Volkswagen refused to bargain. In November, VW gave workers an 11% pay raise at the plant, but the union says VW's pay still lags behind Detroit automakers. Top assembly plant workers in Chattanooga make $32.40 per hour, VW said.

Persons: —, we'll, Yolanda Peoples Organizations: DETROIT, United Auto Workers, Workers, National Labor Relations Board, UAW, Detroit automakers, Tesla, Nissan, Mercedes, Benz, Hyundai, Kia, Toyota, Honda, VW, NLRB, Volkswagen, Tennessee Republican, General Motors, Ford, Detroit Locations: Chattanooga , Tennessee, Chattanooga, Tennessee, Mercedes, Vance , Alabama, Tuscaloosa, Alabama

TOKYO (AP) — Global shares are mixed Thursday in lackluster trading. U.S. shares were set to drift higher with Dow futures up nearly 0.3% at 39,632.00. Nissan Motor Co. stock jumped 2.2% after an unconfirmed Japanese media report that the automaker behind the Leaf electric car was about to enter an agreement on EVs with domestic rival Honda Motor Co. Honda shares rose 1.1%. Photos You Should See View All 60 ImagesThe Japanese central bank has set a target of 2% inflation. That higher inflation has in turn dashed Wall Street’s hopes that the Federal Reserve could start offering relief at its meeting next week by cutting interest rates.

Persons: Germany's DAX, Sydney's, Hang Seng, ”, Anderson Alves, Brent Organizations: TOKYO, —, CAC, Dow, Nikkei, Nissan Motor Co, Honda Motor Co, Honda, Nissan, Bank of Japan, Bank of, Federal Reserve, Fed, U.S Locations: Hong, Shanghai, ActivTrades, Bank of Japan

☆ EV euphoria is dead. Automakers trumpet consumer choice for U.S. car shoppers
▼ + stars: | 2024-03-13 | by ( Michael Wayland | ) www.cnbc.com time to read: +11 min

Andrew Merry | Moment | Getty ImagesDETROIT — The buzz around electric vehicles is wearing off. U.S. EV sales were a record 1.2 million units last year, representing 7.6% of the overall national market, Cox Automotive estimates. "Moving on to less tech-savvy buyers will slow the EV market share growth over the next few years." Automakers wanted to emulate Tesla's success, with some promising to exclusively offer EVs in the not-too-distant future. "Toyota is almost completely absent from the [battery electric vehicle] market yet will gain more U.S. market share than any other car company this year.

Persons: hasn't, Andrew Merry, Aston Martin, Tesla, Elon Musk, Marin Gjaja, Ford, Pablo Di Si, Sam Fiorani, Romeo, Bentley, Mary Barra, there's, Cadillac, John Roth, We've, Gjaja, Jim Farley, Rebecca Cook, Oliver Blume, Akio Toyoda, Morgan Stanley, Adam Jonas, It's, Biden, Cox, Michelle Krebs, EVs, Trisha Jung Organizations: DETROIT, EV, Ford Motor, General Motors, Mercedes, Benz, Volkswagen, Jaguar, Rover, CNBC, GM, Hyundai Motor, Kia, Toyota Motor, VW, U.S, Cox Automotive, AutoForecast Solutions, Volvo, Buick, Cadillac, Honda, Ford Motor Co, Ford, Amperex Technology, Toyota, Cox, Tesla, Nissan, Nissan U.S, Environmental Protection Agency, Alliance for Automotive Innovation, American Automotive, Detroit automakers Locations: EVs, Europe, U.S, North America, Warren , Michigan, Detroit, Marshall , Michigan, Romulus , Michigan

☆ A Jacksonville Jaguars ex-employee was given 78 months in prison after stealing $22 million that his lawyers said he later lost on Draft Kings and FanDuel
▼ + stars: | 2024-03-13 | by ( Matthew Loh | ) www.businessinsider.com time to read: +3 min

A Jaguars ex-employee has been sentenced to 78 months in prison for stealing $22 million from the team. Amit Patel, 31, spent almost all of the money on losses on Draft Kings and FanDuel, his lawyers said. Prosecutors said Patel also used the cash to buy private flights, luxury items, and cars. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementA former Jacksonville Jaguars employee who pleaded guilty to stealing $22 million from the team was sentenced to six and a half years in prison on Tuesday.

Persons: Amit Patel, FanDuel, Prosecutors, Patel, —, undoubtably, Tiger Woods, Philippe, Megha Parekh, Parekh, Henry Lee Adams Jr Organizations: Jaguars, Service, Jacksonville Jaguars, Justice Department, Tesla, Nissan, Associated Press, BI, ESPN, NFL Locations: District, Florida, Beach , Florida

☆ A safety group graded 14 driver-assistance systems. Tesla's self-driving option was the worst.
▼ + stars: | 2024-03-12 | by ( Camilo Fonseca | ) www.businessinsider.com time to read: +4 min

Automated driving systems are lacking in the safety department, according to a new report. Tesla's Full Self Driving system earned the worst marks, but most of the 14 systems tested poorly. Some say that autonomous and assisted driving systems are responsible for fatal crashes. AdvertisementYou may want to think twice before flipping on your autonomous driving system on the highway. The agency tested 14 systems, 11 of which received a "poor" overall safety rating.

Persons: —, David Harkey, Tesla, Ford Organizations: Service, Insurance Institute for Highway Safety, National, Traffic Safety Administration, CNN, Ford, Mercedes, Benz, Nissan, General Motors, Insurance, Google Locations: California, Los Angeles, San Francisco

☆ Oil prices fall on China demand worries
▼ + stars: | 2024-03-11 | by ( ) www.cnbc.com time to read: +2 min

A view of oil wells at Arab Desert in Jebel Dukhan, Bahrain on March 4, 2024. Oil prices extended last week's losses on Monday on concern about slow demand in China, though lingering geopolitical risk surrounding the Middle East and Russia limited the decline. "Worries over weak demand in China outweighed the extension of supply cuts by OPEC+," said Hiroyuki Kikukawa, president of NS Trading, a unit of Nissan Securities, adding that mixed signs from U.S. jobs data prompted some traders to adjust positions. China last week set an economic growth target for 2024 of around 5%, which many analysts called ambitious without much more stimulus. Tension is also escalating in Russia and its neighbors, raising fear about a potential escalation in conflict outside of Ukraine, NS Trading's Kikukawa said.

Persons: Brent, Hiroyuki Kikukawa, Ismail Haniyeh, Kikukawa, Vladimir Putin Organizations: U.S, West Texas, NS, Nissan Securities, Organization of, Petroleum, Federal Reserve Locations: Jebel Dukhan, Bahrain, China, East, Russia, Hamas, Israel, OPEC, Gaza, Ukraine, France

☆ Tesla Autopilot and similar automated driving systems get ‘poor’ rating from prominent safety group
▼ + stars: | 2024-03-11 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +7 min

CNN —The Insurance Institute for Highway Safety, which rates cars and SUVs for safety, examined so-called advanced driver assistance systems such as Tesla Autopilot and found them wanting. Of the 14 systems tested by the agency, 11 earned a “poor” rating including Tesla’s Autopilot and so-called Full Self Driving systems. Insurance Institute test drivers also looked at what would happen if the driver became incapacitated with the automated driving system in use. Of the systems tested, only GM’s Super Cruise handled that sort of situation the proper way, according to the Institute. The Insurance Institute will continue to monitor software updates and improvements and will periodically retest the systems, Harkey said.

Persons: ’, David Harkey, Harkey, “, ” Harkey, ” Nissan, Ford, BlueCruise, ” Ford Organizations: CNN, The Insurance Institute for Highway, Ford, Nissan, ”, Insurance, ” Insurance, Traffic, Administration, The Insurance Institute, Institute, The, . Insurance, Cruise, Tesla, GM, Insurance Institute for Highway, Insurance Institute

☆ China's BYD is the world's biggest electric car maker — but it's not coming to America anytime soon
▼ + stars: | 2024-03-09 | by ( George Glover | ) www.businessinsider.com time to read: +6 min

Read previewJapanese and Korean carmakers cracked the US market long ago — but don't expect Chinese EV seller BYD to repeat that feat. Advertisement"It'd be very difficult for a Chinese EV maker to enter the US market," Seth Goldstein, an equity strategist at Morningstar, told Business Insider. The bill, a key part of US President Joe Biden's economic agenda, offers tax credits worth up to $7,500 for EV makers, excluding any "Foreign Entity of Concern." BYD isn't the only company turning its back on the US EV market. Given that EV sales growth is stalling in US, it's perhaps little wonder companies like BYD are not too bothered.

Persons: —, There's, Tesla, We're, Stella Li, BYD, Seth Goldstein, I'm, Suzuki, Jim Farley, Will Roberts, Goldstein, Roberts, Joe Biden's, Joe Biden, Demetrius Freeman, Rho Motion's Roberts, you'd, Li, carmakers Organizations: Service, Yahoo Finance, Business, Morningstar, Toyota, Motors, Nissan, Mazda, Lexus, Honda, Mitsubishi, Korea's Hyundai, Kia, North, Ford, EV, Rho, Energy, Treasury, Washington Post, Cox Automotive, Apple Locations: Korean, North America, —, China, North American, Russia, Iran, North Korea, Brazil, Thailand, Americas, Asia, South America

☆ Nissan, Fisker in advanced talks on investment, partnership, sources tell Reuters
▼ + stars: | 2024-03-01 | by ( ) www.cnbc.com time to read: +1 min

A Nissan badge is attached to the grill of a 2013 Nissan Pathfinder on December 3, 2012 in Niles, Illinois. The deal could close this month, said the sources, who asked not to be identified because the talks are ongoing and have not been finalized. Nissan would build its own electric pickup on the same platform, the source said. A Fisker spokesman said the company does not comment on speculation, while Nissan officials were not immediately available to comment. Fisker shares were off more than 43% on Friday, giving the company a market capitalization of about $222 million.

Persons: Fisker Organizations: Nissan, Nissan Pathfinder Locations: Niles , Illinois, United States, Fisker's, Alaska, Mississippi, Tennessee

☆ Why can’t we stop calling X, Twitter?
▼ + stars: | 2024-02-23 | by ( Saira Mueller | ) edition.cnn.com time to read: +10 min

While some people (mainly fans of Musk) have embraced the X brand, most have not. Many people, both online and in person, still call the platform Twitter, and refer to posts as tweets. WHY ARE WE STILL CALLING THIS PLATFORM TWITTER. Even when you do see X, it's framed as "X, formerly Twitter". So the brand is what they say it is… it’s not that customers can’t stop calling it Twitter, it’s that they won’t.”

Persons: it’s, adieu, Elon Musk, — Jack Scalfani, ”, — Sherrye Pomeroy, Linda Yaccarino, It’s, ” Ramon Jimenez, Wolff Olins, “, ” Marty Neumeier, —, Musk, ’, Zoë Schiffer, Schiffer, Josh Adelson, X, x.com, ” Musk, wasn’t, Neumeier, “ It’s, ’ ” Elon Musk, Alain Jocard, James Withey, Kirill Kudryavtsev, Withey, — Sandy Horne Organizations: CNN, Twitter, Premium, Twitter Twitter, Global, Merriam, Webster, Oxford English, Liquid Agency, Elon, Musk, Twitter Inc, X Corp, Getty, The New York Times, Apple, Adobe, Google, Strategy, Innovation, Nissan, Datsun Locations: @sherrye_pomeroy, San Francisco, Paris, AFP, Frankfurt, Germany, @SandyHorne61

☆ Oil prices roughly flat as unclear demand scenario weighed
▼ + stars: | 2024-02-16 | by ( ) www.cnbc.com time to read: +2 min

Oil prices meandered on Friday as investors pondered slowing demand forecast by an influential group and weak U.S. retail sales data that sparked optimism about U.S. interest rate cuts. Oil prices meandered on Friday as investors pondered slowing demand forecast by an influential group and weak U.S. retail sales data that sparked optimism about U.S. interest rate cuts. The U.S. Commerce Department report showed retail sales dropped 0.8% in January, the biggest fall since February 2023. Economists polled by Reuters had forecast retail sales dipping 0.1%. OPEC on Tuesday stuck to its much steeper growth forecast at 2.25 million bpd.

Persons: Hiroyuki Kikukawa Organizations: Brent, . West Texas, Reserve, U.S . Commerce Department, Reuters, NS, Nissan Securities, International Energy Agency, Organization of, Petroleum Locations: U.S, Paris, East, Lebanon, Gaza

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