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☆ GM's new EV charging hubs look exactly like gas stations
▼ + stars: | 2024-09-12 | by ( Nora Naughton | ) www.businessinsider.com time to read: +1 min

GM's new EV charging hubs look exactly like gas stations. The joint venture with EVgo will produce 400 new charging stalls nationwide. Improving the charging experience is key for EV adoption. Go to newsletter preferences Thanks for signing up! Several large hubs of roughly 20 fast chargers each are being installed in major metropolitan areas in Arizona, California, Florida, Georgia, Michigan, New York, and Texas, for a total of 400 new charging stalls.

Persons: —, Wade Sheffer Organizations: EVgo, EV, Service, GM Energy, Business Locations: Arizona , California, Florida, Georgia, Michigan, New York, Texas

☆ UAW, U.S. dealers increase criticism of Stellantis CEO over cuts, sales declines
▼ + stars: | 2024-09-12 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

David Dee Delgado | ReutersDETROIT – Stellantis ' U.S. dealer network has joined the United Auto Workers union in criticizing CEO Carlos Tavares for the company's recent sales declines, factory production cuts and other decisions they deem detrimental to the automaker's business. "The market share of your brands has been slashed nearly in half, Stellantis stock price is tumbling, plants are closing, layoffs are rampant, and key executives fleeing the company. We will continue to work with our dealers to avoid any public disputes that will delay our ability to deliver results." Stellantis reported a record profit in 2023, but so far this year, the automaker reported a first-half net profit of 5.6 billion euros ($6.07 billion), down 48% from the same period of 2023. It's part of his "Dare Forward 2030" plan to increase profits and double revenue to 300 billion euros ($325 billion) by 2030.

Persons: Carlos Tavares, David Dee Delgado, Tavares, Kevin Farrish, Farrish, Ford Stellantis, Stellantis, Shawn Fain, Kamala Harris, Tim Walz, Rebecca Cook Organizations: New York, Auto, Reuters DETROIT, United Auto Workers, Chrysler, Dodge, Investor, Bloomberg, Stellantis, GM, Fiat Chrysler, France's PSA Groupe, UAW, U.S, Democratic Locations: Manhattan , New York, U.S, Virginia, Romulus , Michigan

☆ South Korea’s Hyundai and US’ GM to work together on developing new cars
▼ + stars: | 2024-09-12 | by ( Juliana Liu | ) edition.cnn.com time to read: +2 min

Hong Kong CNN —Hyundai and General Motors (GM) have agreed to look for ways to work together on developing new vehicles, supply chains and technologies in an effort to cut costs and move more quickly. Global carmakers are under intense pressure to come up with new electric vehicle (EV) and battery technology because they face vehicle emissions regulations around the world. South Korea’s Hyundai and America’s GM (GM) said on Thursday they would collaborate on joint product development, manufacturing and future clean energy technologies. The non-binding framework agreement was signed by Hyundai Motor Executive Chair Euisun Chung and GM Chair and CEO Mary Barra. Including its affiliate Kia, Hyundai Motor is the world’s third-largest automaker by sales, according to Reuters, while GM is currently America’s largest carmaker, having retaken that title from Toyota in 2022.

Persons: Hong Kong CNN —, They’re, Euisun Chung, Mary Barra, “, ” Barra, ” Chung, Cruise Organizations: Hong Kong CNN, Hong Kong CNN — Hyundai, General Motors, Global, EV, Korea’s Hyundai, America’s GM, Hyundai Motor, Kia, Hyundai, Reuters, GM, Toyota, Nissan, Renault, Honda, — Locations: Hong Kong, Japan

The bank raised its price target on MercadoLibre Thursday to $2,500 from $2,225, suggesting 22% upside from Wednesday's close. The bank increased its price target to $230 from $200, implying nearly 16% upside from Wednesday's close. Supino also lifted the firm's price target to $93 a share, reflecting about 33% upside from Wednesday's close. Analyst Adam Berlin lowered his 12-month price target to $29 from $34, implying 6% downside. The investment firm's price target of $159 implies more than 2% downside from Wednesday's close.

Persons: Robert Ford Aguilar, — Michelle Fox, Wells, Wells Fargo, Eric Luebchow, Luebchow, Lisa Kailai Han, Sean Conlon, Wolfe, Peter Supino, Supino, Samantha Subin, BofA, George Staphos, a.m, Adam Berlin, Berlin, IPG, — Sean Conlon, Bernstein, Mark Moerdler, — Lisa Kailai Han, Stifel, Simon Yarmak, Andrea Pistacchi, Brandt Montour, it's, Montour, Fred Imbert Organizations: CNBC, Barclays, Bank of America, Diageo, Mercado, Mobile, Sprint, Wolfe Research, UBS downgrades, UBS, billings, GM, Pfizer, Oracle, Simon Property, Property Group, SPG, U.S, New York Stock Exchange Locations: Brazil, Mercado Pago, Wells Fargo, Wells, Roku, Berlin, America, U.S

☆ GM and Hyundai agree to explore collaboration on vehicles and manufacturing to reduce capital spending
▼ + stars: | 2024-09-12 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

Mary Barra, chair and CEO of General Motors, and Euisun Chung, executive chair of Hyundai Motor Group, during the signing of an agreement between the two companies to explore future collaboration across key strategic areas. DETROIT — General Motors and Hyundai Motor have entered into an agreement to explore "future collaboration across key strategic areas" in an effort to reduce capital spending and increase efficiencies, the companies announced Thursday. The automakers' potential areas of interest include co-development and production of passenger and commercial vehicles, internal combustion engines, and clean-energy, electric and hydrogen technologies, they said in a joint press release. The automakers also said they will "review opportunities for combined sourcing in areas such as battery raw materials, steel and other areas." The framework agreement was signed by Hyundai Motor Group Executive Chair Euisun Chung and GM Chair and CEO Mary Barra, the companies said.

Persons: Mary Barra, Euisun Chung Organizations: General Motors, Hyundai Motor, DETROIT —, Motors, Hyundai, Hyundai Motor Group Locations: DETROIT

Understanding business loansWhat is a business loan? Types of business loans availableYou need to determine what you will use the money for before applying for a business loan, as there are various loan types. "Business loan options are abundant, and it can be very easy to obtain business financing," says Grayson. After the applicationWhat to expect after applyingLenders generally look at your time in business, credit scores (both your business credit score and personal credit score), cash flow, collateral, and the industry the business is in. Business loan FAQsWhat credit score is needed to get a business loan?

Persons: you've, Gina Taylor Cotter, You'll, Noah Grayson, Grayson, you'll, Matt Brewster, Brewster, Ryan Wangman, Read Organizations: GM, Global, Services, American Express, Small Business Administration, South End, Estate Bees, Nonprofit, Chevron, Finance, Northwestern University, Boston Globe

GM declined to discuss details of the spending, including how much of that amount is specifically tied to NFL advertising, but reiterated it remains significantly lower than historic levels. “The impact of the NFL on the automotive advertising industry is really very, very substantial,” said Alberto Leyes, head of product strategy at Guideline. Guideline reports viewership of NFL broadcasts grew about 7% over the past season, whereas ad spend in NFL programming doubled that pace at 14%. Automotive ad spend increased 17% over the past two seasons and is expected to increase again this year, according to Leyes. Stellantis is expected to soon launch new ads for the NFL season, including around its Jeep brand, but a spokeswoman declined to provide additional details.

Persons: ”, Ryan Briganti, Alberto Leyes, “ We’ve, we’ve, ” Leyes, Andrew Messina, Messina, Mark Marshall, Jenny Wall, Dedra DeLilli, That’s, ” DeLilli, “, DeLilli, Stellantis, Randy Parker, NBCUniversal Organizations: National Football League, Toyota Motor Corporation, Hyundai Motor Company, Detroit, NFL, Toyota, CBS Sports, CBS, Paramount, General Motors, GM, Nielsen, Disney, ESPN, Disney Advertising, Hyundai, Mercedes, Benz, Nissan Motor, Chrysler, Brands, Sunday, NBC, Automotive, Toyota North, Olympics, Hyundai Motor America, CNBC, Comcast, NBC Sports, NBC Olympics, Games Locations: Messina, U.S, Toyota North America, Paris

☆ There's tons of hiring activity in media ad sales right now, but there's a catch
▼ + stars: | 2024-09-09 | by ( Lucia Moses | Lara O'Reilly | ) www.businessinsider.com time to read: +8 min

While it might look like there's a flurry of advertising hiring, industry insiders say the reality is more sobering. AdvertisementLegacy media companies have sharply cut staff in recent years, including sales, and those jobs aren't coming back. Disney has said it plans to automate half its ad sales. "The number of good job opportunities are few and far between because the large media companies are not hiring as quickly. "Ad sales is no longer ad sales," said Gary Stolkin, global CEO of The Talent Business, a global executive search firm specializing in the creative industries.

Persons: —, they've, Jean, Paul Colaco, aren't, Dave Morgan, Lisa Valentino, David Lawenda, David Zaslav, David Ellison's, Christopher Vollmer, Simon Francis, Peter Naylor, Brian Lesser, Lesser, WPP's, Roku, Harry Kargman, Kargman, Krishan Bhatia, Gary Stolkin, Stolkin, who's Organizations: Service, Netflix, Business, Disney, Paramount, Warner Bros, NBA, Companies, MediaLink, TV, Media, Flock Associates, Progressive, Mobile, The Talent Locations: Teads, NBCUniversal

☆ Goldman Sachs to post $400 million hit to third-quarter results as it unwinds consumer business
▼ + stars: | 2024-09-09 | by ( Hugh Son | ) www.cnbc.com time to read: +1 min

David Solomon, CEO of Goldman Sachs, during an interview for an episode of "The David Rubenstein Show: Peer-to-Peer Conversations" in New York on Aug. 6, 2024. Goldman Sachs will post a roughly $400 million pretax hit to third-quarter results as the bank continues to unwind its ill-fated consumer business. CEO David Solomon said Monday at a conference that by unloading Goldman's GM Card business, as well as a separate portfolio of loans, the bank would post a hit to revenues when it reports results next month. It is the latest turbulence related to Solomon's push into consumer retail. Goldman's credit card business, in particular its Apple Card, allowed rapid growth in retail lending, but also led to losses and friction with regulators.

Persons: David Solomon, Goldman Sachs, David Rubenstein, Goldman, Solomon Organizations: GM Card, Apple, GM, Barclays, The, Street 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

GM declined to discuss details of the spending, including how much of that amount is specifically tied to NFL advertising, but reiterated it remains significantly lower than historic levels. Last NFL season, automakers were the most-seen brand industry, with more than 10% of TV ad impressions, according to ad data company iSpot. Guideline reports viewership of NFL broadcasts grew about 7% over the past season, whereas ad spend in NFL programming doubled that pace at 14%. Automotive ad spend increased 17% over the past two seasons and is expected to increase again this year, according to Leyes. New ad campaignsToyota, as the "Official Automotive Partner of the NFL," launched a new ad campaign for the NFL season this week called "Roll Deep."

Persons: Ryan Briganti, Alberto Leyes, we've, Leyes, Andrew Messina, Messina, Mark Marshall, Jenny Wall Organizations: NFL, National Football League, Toyota Motor Corporation, Hyundai Motor Company, Detroit, Toyota, CBS Sports, CBS, Paramount, General Motors, GM, Nielsen, Disney, ESPN, Disney Advertising, Hyundai, Mercedes, Benz, Nissan Motor, Chrysler, Brands, NBC, Automotive, Baltimore Ravens, Kansas City Chiefs Locations: Messina, U.S

☆ 4 things an executive learned from reporting to Airbnb CEO Brian Chesky
▼ + stars: | 2024-09-04 | by ( Jaures Yip | ) www.businessinsider.com time to read: +7 min

Read previewDuring his decade at Airbnb, Vlad Loktev picked up some pointers from CEO Brian Chesky. Although Loktev noted that their booking numbers were up and things appeared to be running smoothly, the CEO responded, "Things are just too calm. Loktev said he learned from how Chesky strategically inserted some disarray into an otherwise calm process. And he learned it from Chesky, whom Loktev said would continuously grow. AdvertisementIt's not about hitting the goalWhen it came to thinking big, Loktev said Chesky taught him how to rethink big goals.

Persons: —, Vlad Loktev, Brian Chesky, Loktev, Chesky, you've, That's, Brian, Paul Graham, Graham, Steve Jobs, they'll, it's Organizations: Service, Zynga, Ventures, Business, Airbnb, VP, Apple Locations: Airbnb, Chesky

☆ Inside Netflix's hunt for its next ads leader and what it signals about the company's future
▼ + stars: | 2024-09-03 | by ( Lucia Moses | ) www.businessinsider.com time to read: +9 min

Reinhard parted ways with previous ad sales leader Peter Naylor in July, in Netflix's second ads leadership shake-up in two years. To get a sense of how Reinhard is approaching the hire, Business Insider spoke with 11 people who had inside knowledge about the search or who are close to Netflix's ad business. Others with those credentials who some insiders think could be in the mix include Pooja Midha, EVP and GM for Effectv, the ad sales arm of Comcast's cable division. "They view ad sales as having a lack of rigor and discipline," the first person who'd had conversations with Netflix said. Netflix also shook up its ad sales leadership twice, with its first ads leader Jeremi Gorman being replaced after a year, and then with Naylor's recent exit.

Persons: —, Amy Reinhard, Reinhard, Peter Naylor, Lisa Valentino, WBD's Ryan Gould, Jim Keller, Pooja Midha, who'd, Naylor, Dimitrios Kambouris, Greg Peters, Peters, hadn't, Jon Whitticom, Whitticom, Netflix's, Jeremi Gorman, they're Organizations: Service, Madison, Business, Netflix, Warner Bros, Disney, Effectv, Hulu, Google, Big Tech, Insiders, Prime, Microsoft, Street Journal, NFL Locations: Madison

☆ 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

☆ Glory days for automakers like Ford, General Motors in China are over
▼ + stars: | 2024-09-03 | by ( Hanna Ziady | ) edition.cnn.com time to read: +10 min

London CNN —Foreign automakers have dominated China’s car market for decades, selling millions of vehicles and raking in enormous profits. Ford (F) and General Motors (GM) are also among firms seeing sales and market share vanish in China as local consumers spurn overseas brands to buy Chinese instead. The American automaker’s sales in China have halved from a peak of above 4 million in 2017 to 2.1 million last year. Last year, BYD sold a record 3.02 million vehicles globally, including plug-in hybrids, up 62% from 2022. Months later, Stellantis (STLA), which makes Citroen, Fiat, and Peugeot cars, bought a 20% stake in Chinese EV maker Leapmotor for about €1.5 billion ($1.7 billion).

Persons: Arno Antlitz, GM’s, Mary Barra, ”, Michael Dunne, Dunne, Xi Jinping’s, Tesla, Yilei Sun, Reuters Tesla, Li, Tu Le, Le, BYD, ” Dunne, Raul Bravo, Stellantis, “ Organizations: London CNN — Foreign, Volkswagen, Wolfsburg, Toyota, General Motors, China Passenger Car Association, Foreign, Japan’s Mitsubishi Motors, Honda, Hyundai, Ford, GM, EV, Tesla, Yilei, Reuters, International Energy Agency, “, CNN, Visitors, Automotive, Xinhua, Shutterstock, Auto, “ Global, UBS, Port, Citroen, Fiat, Peugeot, Leapmotor, Hedin Locations: China, London, Germany, Europe, American, Shanghai, Tesla's Shanghai, Beijing, EVs, Japan, North America, San Antonio, Chile, Chilean, AFP, Xpeng, Thailand, Hungary

☆ GM folding its all-electric BrightDrop vans into Chevrolet brand
▼ + stars: | 2024-08-29 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

DETROIT – General Motors is folding its all-electric BrightDrop commercial vans into the Chevrolet brand in an attempt to increase sales, accessibility and recognition of the vehicles. It helps our customers that choose to go into EVs to easily do so working with the Chevrolet dealer they know and trust now for their other fleet needs." The number of new dealers will be based on the amount that decide to opt in to selling and servicing the vans. To sell commercial EVs, dealers must have specific vehicle lifts, service bays and employee training, among other things. GM declined to disclose the average cost for a dealer to become certified to sell the BrightDrop products, citing expenses will vary based on the store.

Persons: Sandor Piszar, It's Organizations: DETROIT, Motors, Chevrolet, GM, CNBC Locations: U.S, North America, EVs

☆ NFL Quarterback Tiers 2024: Only 2 join Mahomes in Tier 1; Rodgers, Herbert drop out
▼ + stars: | 2024-08-26 | by ( Mike Sando | ) www.nytimes.com time to read: +54 min

QB Tiers rangesTier Tier 1 Tier 2 Tier 3 Tier 4 Movement Moved down Moved up New to Tiers Not in '23 Tiers Same tier Expand all Collapse all Loading Try changing or resetting your filters to see more. Photo: Ryan Kang / Getty Images Tiers over time Annual votes by tier Tier 1 Same tier 2 Joe Burrow Bengals Cincinnati 2024 Tier Voting Avg. Photo: Kathryn Riiley / Getty Images Tiers over time Annual votes by tier Tier 3 Same tier 18 Deshaun Watson Browns Cleveland 2024 Tier Voting Avg. Photo: Cooper Neill / Getty Images Tiers over time Annual votes by tier Tier 3 Same tier T20 Geno Smith Seahawks Seattle 2024 Tier Voting Avg. Photo: Chris Unger / Zuffa LLC / Getty Images Tiers over time Annual votes by tier Tier 4 Same tier T26 Anthony Richardson Colts Indianapolis 2024 Tier Voting Avg.

Persons: Patrick Mahomes, Lamar Jackson, Jordan Love, San Francisco 49ers ’ Brock Purdy, Houston Texans ’ C.J, Stroud, Mahomes, —, Toney, “, Tom Brady, ”, He’s, Brady, Ryan Kang, Joe Burrow, Burrow, Kirk Cousins, he’s, Cooper Neill, Josh Allen, Allen, Joe, Sam Howell —, Trevor Lawrence, Kathryn Riiley, Lamar, Jackson, Todd, Monken, Patrick Smith, Matthew Stafford, Stafford, recommitment, “ He’s, Matt Stafford, Sean, Rey Del, Justin Herbert, Herbert, “ Herbert, Aaron Rodgers, Jim Harbaugh, “ Harbaugh, I’ve, Rodgers, Achilles, it’ll, Tom Brady’s, Bobby Slowik, ’, Tim Warner, Prescott, Drew Brees, Ben Roethlisberger’s, Dan Marino, Peyton Manning, “ Dak, Jared Goff, It’s, Goff, “ They’ve, they’ve, Tua Tagovailoa, “ Goff, I’m, Junfu, Shane Steichen, Tua, Kellen Moore, Jason Kelce, Brock Purdy, Purdy, Colin Kaepernick, “ Purdy, it’s, “ I’m, Kurt Warner, ” Warner, Brock, Kyle Shanahan, Shanahan, Cousins, Kirk, ” Cousins, Michael Penix Jr, Michael Penix, Kevin C, Cox, ” Love, Squeaking, Mike McDaniel, Kyle Shanahan’s, ” Purdy, Tagovailoa, “ Tua, Lawrence, ” Lawrence, Lawrence —, I’d, Perry Knotts, Kyler, Murray, ‘ Kyler Murray, ” Murray, Marvin Harrison Jr, Deshaun Watson, Watson, Ken Dorsey, ” Watson, Nick Cammett, “ Baker, Baker, Mayfield, Mike Evans, moxie, Nic Antaya, Derek Carr Saints, Carr, Jon, Gruden, “ Gruden, Derek Carr, Smith, Russell Wilson, “ Trevor Lawrence, Justin Fields, Geno Smith, Wilson, Pete Carroll, Sean Payton, Mike Tomlin, Tomlin, “ Tomlin, Payton, Russ, Let’s, Joe Sargent, Daniel Jones, Jones, “ I’ve, Drew Lock, Daniel Jones ’, Malik Nabers, DK Metcalf, Jacoby Brissett, Peter Joneleit, Justin, you’ve, Justin K, Seattle’s Smith, “ Nobody, “ Gardner Minshew, Minshew, Aidan O’Connell, Chris Unger, Anthony Richardson, Richardson, marveled, Cam Newton, ’ ”, “ Shane Steichen, “ Richardson, Shane, Todd Rosenberg, ” Levis, “ I’ll, Carson Wentz, Mac Jones, Frank Reich, Dave Canales, Bryce Young, David Jensen, Sam Darnold, Darnold, J.J, McCarthy, Kevin, I’ll, ” Darnold, Stephen Maturen, Brissett, Kevin Stefanski, “ Jacoby, Alex Van Pelt, Drake Maye, Jaiden, David DeChant, Marc Mazzoni, Dan Goldfarb, John Bradford, Skye Gould, Ray Orr, Amy Cavenaile Organizations: NFL, Baltimore Ravens, Green Bay Packers, San Francisco 49ers, Houston Texans ’, Patrick Mahomes Chiefs Kansas, 0pts, Voters, Philly, Super, Chiefs, EPA, Joe Burrow Bengals, Burrow, ”, Josh Allen Bills Buffalo, Lamar Jackson Ravens, Ravens, Kansas City, Matthew Stafford Rams, Stafford, Rams, Rey Del Rio, Justin Herbert Chargers, Chargers, Aaron Rodgers Jets, Rodgers, Jets, . Stroud Texans, Stroud, Baltimore, Texans, Dak Prescott Cowboys, Niners, Packers, Cowboys ’, Prescott, “, Jared Goff Lions, Eagles, Alabama, College Football, Brock, Brock Purdy 49ers San Francisco, 1.2pts, 49ers, Detroit, Purdy, Kirk Cousins Falcons, Falcons, Atlanta, Jordan Love Packers, Dallas, Green Bay, Cowboys, Tua Tagovailoa Dolphins, Miami, AFC East, Trevor Lawrence Jaguars Jacksonville, Jaguars, Kyler Murray Cardinals, Cardinals, Murray, Deshaun Watson Browns, Browns, Cleveland, Baker Mayfield Buccaneers Tampa, ” Voters, Derek Carr Saints New, Mayfield, NFC, Saints, Buccaneers, Geno Smith Seahawks Seattle, Seattle, Russell Wilson Steelers Pittsburgh, of Fame, Steelers, Daniel Jones Giants New, Giants, Justin Fields Steelers, Bears, Gardner Minshew Raiders, Indy, Colts, Minshew, Raiders, Anthony Richardson Colts, Health, Levis Titans, Titans, Levis, Bryce Young Panthers Carolina, Panthers, Jacoby Brissett Patriots, Patriots, Getty Images, USA Locations: San Francisco, Baltimore, Mahomes, Burrow, Matthew Stafford Rams Los, Tier, Justin Herbert Chargers Los, Green Bay, Stroud, “, what’s, USA, Oklahoma, Cleveland, Atlanta, Jackson, Lawrence, Kyler Murray Cardinals Arizona, Arizona, Houston, Derek Carr Saints New Orleans, Seattle, Pittsburgh, Wilson, Denver, Cam, Levis, Carolina, Sam Darnold Vikings, New York, Minnesota, New England

☆ 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, ”

JMP Securities upgraded Warby Parker to market outperform, calling for more than 40% upside. The financial firm upgraded shares of the streaming technology provider to buy from neutral. Analyst Michael Morris also established a 12-month price target of $75, which is approximately 21% higher than where shares closed on Thursday. Peloton stock is down 25% on the year. His price target of $20 implies upside of 44% from Thursday's close.

Persons: Warby Parker, Michael Morris, Morris, — Lisa Kailai Han, Wells, Wells Fargo, Edward Kelly, Kelly, BJ's, BJ, Lisa Kailai Han, Piper Sandler, Anna Andreeva, Andreeva, it's, Piper, Doug Anmuth, Anmuth, Nicholas Jones, Jones, Fred Imbert Organizations: CNBC, JMP Securities, JPMorgan, Guggenheim, BJ's, BJ's Wholesale, LT, Costco, CF Subs, Revenue, Warby, Warby Parker Inc Locations: ROKU, Chewy, Thursday's

☆ 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

☆ GM’s Cruise will offer robotaxis on Uber’s platform starting next year
▼ + stars: | 2024-08-23 | by ( ) edition.cnn.com time to read: +2 min

Reuters —Cruise will offer its autonomous vehicles on Uber’s platform starting next year, the companies said on Thursday, as the General Motors-backed robotaxi firm attempts a comeback. The multi-year partnership will allow Uber riders to choose a trip using a Cruise autonomous vehicle, they said. Uber’s partnership with Cruise comes as Tesla CEO Elon Musk is set to unveil its delayed plans for a robotaxi product in October amid slowing demand for electric vehicles. Commercializing autonomous vehicles has been tougher than expected and taken longer than promised due to complex technology, soaring investments, tight regulatory scrutiny and federal investigations. Trips by self-driving vehicles on Uber’s platform rose six-fold in the June quarter year-on-year, helped by partnerships with companies including Waymo, as well as startup Waabi for freight services.

Persons: Reuters — Cruise, Uber, Alphabet’s, Cruise, Elon Musk, Dara Khosrowshahi Organizations: Reuters, General Motors Locations: Phoenix, U.S, San Francisco

☆ Texas sues General Motors, alleging illegal selling of driver data
▼ + stars: | 2024-08-13 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +2 min

New York CNN —Texas Attorney General Ken Paxton sued General Motors Tuesday, alleging the carmaker illegally collected and sold drivers’ data to insurance companies without their consent or knowledge, according to a release from the AG’s office. The suit said those two companies then sold these scores to insurance companies. Insurance companies can use data to see how many times people exceeded a speed limit or obeyed other traffic laws. But the attorney general’s office claimed GM “deceived” its Texan customers by encouraging them to enroll in programs such as OnStar Smart Driver. But by agreeing to join these programs, customers also unknowingly agreed to the collection and sale of their data, the attorney general’s office said.

Persons: Ken Paxton, “, ”, Smart, General Motors Organizations: New, New York CNN, Texas, Motors, General Motors, Insurance, General, CNN Locations: New York, Detroit

☆ GM reveals redesigned GMC Terrain as brand's entry-level model
▼ + stars: | 2024-08-12 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

2025 GMC Terrain Elevation GMDETROIT — General Motors on Monday revealed redesigned versions of its entry-level GMC Terrain crossover, including a new standard "Elevation" model. It also has a new interior with 26 inches of screens, including a 15-inch center touchscreen and an 11-inch driver information cluster. 2025 GMC Terrain GMWith the increase in standard features, GM also is simplifying the model lineup for the Terrain, combining its "SLE" and "SLT" entry-level trims into Elevation. GM declined to disclose pricing for the redesigned Terrain, which is expected to begin arriving in GMC showrooms late this year. 2025-2026 GMC Terrain GM

Organizations: DETROIT —, Motors, Apple, Android, GMC, GM

☆ Americans just can’t quit their giant, gas-burning trucks
▼ + stars: | 2024-08-07 | by ( Chris Isidore | ) edition.cnn.com time to read: +7 min

A ‘harsh reality’ for EVsFord likes to brag about its growing EV sales, but its profit is still primarily coming from the sales of gasoline powered trucks and SUVs. Ford isn’t the only automaker pulling back on its EV plans and making new investment in ICE vehicles. This is not to say that the traditional automakers are dropping their EV plans altogether or that EV sales are falling. But EV sales, which initially grew at a double-digit pace, haven’t shot up exponentially as automakers hoped or expected. That uncertainty about the future of US EV incentives prompted automakers to reconsider their earlier EV plans.

Persons: Ford, ” Ford, Jim Farley, hasn’t, EVs Ford, ”, Ivan Drury, Mary Barra, EVs, Stellantis, haven’t, Tesla, Donald Trump, Elon Musk, Carlos Tavares Organizations: New, New York CNN, EVs, Canadian, Ford, Super, Kentucky, Super Duty, Ford’s, Ford Expedition, GM, ICE, United Auto Workers, “ Locations: New York, Oakville , Ontario, Toronto, Mexico, Oakville, Kentucky, Ohio, EVs, United States, Edmunds, North America, Europe

☆ Ford turns 'dirty' business into a profit driver. GM and Stellantis are taking notice
▼ + stars: | 2024-08-05 | by ( Michael Wayland | ) www.cnbc.com time to read: +10 min

Many fleet sales, especially daily rentals, have historically been viewed as a negative for auto companies. But Ford has proven that's not always the case by breaking out financial results for its "Ford Pro" fleet business. Ram, GM retoolAs Ford touts its fleet business, its closest rivals have amped up their operations. It launched "GM Envolve" last year, its overhauled fleet and commercial business focused on fleet sales, digital telematics and logistics for commercial customers. EV goalsGM Envolve includes the company's EV commercial business BrightDrop, which was folded back into the automaker last year instead of it acting as a subsidiary.

Persons: Mark Hazel, It's, Ford, Ferrari, Jim Farley, Wolfe, Joe White, Farley, BofA's John Murphy, Ram, Christine Feuell, Stellantis, Ram Ram, Ken Kayser, Sandor Piszar, Motors, Piszar, EV600 Organizations: Ford DETROIT, U.S, automakers, Ford Motor, General Motors, Chrysler, P Global Mobility, Ford, Ford Pro, Wolfe Research, North, GM, Ford Super Duty, Reuters, GM retool, CNBC, Software, Stellantis, GM Envolve, Sierra, GM Fleet, EV Locations: Dearborn , Michigan, U.S, North America, Europe, Kentucky, Louisville , Kentucky, Stellantis, Detroit

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