Passengers ride in an electric Waymo full self-driving technology in Santa Monica Allen J. Schaben | Los Angeles Times | Getty Images Waymo, Alphabet‘s self-driving car unit, is having a relatively good couple of months – at least, compared to one of its key rivals: GM‘s Cruise. Formerly known as the Google self-driving car project … Read more
Members of the United Auto Workers union picket outside the Michigan Assembly Plant in Wayne, Michigan, on Sept. 26, 2023. Matthew Hatcher | AFP | Getty Images DETROIT — Union members at Ford Motor approved a tentative agreement Friday, concluding contentious contract negotiations between the United Auto Workers and Detroit automakers. UAW-Ford workers were the … Read more
Cruise co-founder and CEO Kyle Vogt has resigned from his role at the autonomous vehicle venture owned by General Motors, according to a company statement sent to CNBC on Sunday. Mo Elshenawy, who previously served as executive vice president of engineering at Cruise, will now serve as president and chief technology officer for Cruise, the … Read more
Electric vehicle shares have done well this year, and analysts are still broadly optimistic on the sector. The Global X Autonomous and Electric Vehicles exchange-traded fund, which includes companies across multiple parts of the EV supply chain, is up around 16% in the year to date. They include companies involved in developing autonomous vehicle software and … Read more
My top 10 things to watch Monday, Dec. 4 1. U.S. stocks are lower in premarket trading, with S & P 500 futures down 0.54%. The move comes after five-straight weeks of gains for equities — and here’s how I make sense of the tremendous rally we’ve seen. Meanwhile, bond yields pull back, with that … Read more
Rear view of couple traveling through car. Maskot | Maskot | Getty Images A recall on your vehicle can derail your travel plans, depending on the issue at hand. It’s an issue plenty of drivers have to consider this fall. Subaru, Volkswagen, General Motors, Mercedes-Benz, Toyota and Honda Motor are among the vehicle manufacturers that … Read more
It’s going to take a lot more than price cuts to sway some consumers to pick an electric vehicle over a hybrid alternative. “[EVs are] a huge shift from the internal combustion engine world, and it’s this whole lifestyle change,” said Stephanie Valdez Streaty, director of mobility research and development at Cox Automotive. “The reality … Read more
United Auto Workers members strike the General Motors Lansing Delta Assembly Plant on September 29, 2023 in Lansing, Michigan. Bill Pugliano | Getty Images General Motors expects new labor contracts with the United Auto Workers and Canadian union Unifor to increase its costs by $9.3 billion and add approximately $575 in costs per vehicle during … Read more
General Motors is working to regain Wall Street’s confidence heading into 2024 with several investor-focused initiatives Wednesday following a tumultuous year of labor strikes and setbacks in its plans for electric and autonomous vehicles. The Detroit automaker plans to increase its quarterly dividend next year by 33% to 12 cents per share; initiate an accelerated … Read more
United Auto Workers President Shawn Fain, middle, visits striking UAW Local 551 workers outside a Ford assembly center on South Burley Avenue on Saturday, Oct. 7, 2023, in Chicago. John J. Kim | Tribune News Service | Getty Images The United Auto Workers union is launching an unprecedented campaign to organize 13 non-union automakers in … Read more
