Barclays on Tuesday cut its price target on shares, saying recent strategic decisions by the company undercut the firm‘s bull case, which had positioned the electric vehicle and energy products manufacturer as the of the car world. The investment bank sees the stock price falling to $192 per share, down […]
The world‘s largest energy company says the electrification of vehicles isn‘t anywhere near ready to overtake the traditional engine in the transport sector. The transport industry more than half of oil demand and last year Morgan Stanley forecast that by 2025 there could be 36 million electric vehicles on the […]
Electric car maker Tesla said Chinese customs authorities delayed shipments of the company‘s Model 3 sedans into the country because labels for the vehicles were misprinted. Officials are now allowing to import Model 3 sedans into China after reports said the vehicles were being held due to irregularities. “This error […]
‘s announcement last week that it is “is a major event in U.S. auto retailing” because traditional automakers still need to go through physical dealerships, Morgan Stanley analyst Adam Jonas said in a note to investors on Tuesday. “From our discussions with [traditional automakers] over many years, most auto companies […]
A major backer doesn‘t fear an ouster of CEO Elon Musk, . “We wouldn‘t be against him having a different role,” James Anderson, head of global equities for Baillie Gifford, told Barron‘s. “I don‘t think he needs to be CEO.” Baillie Gifford is the second-largest stakeholder in Tesla behind Musk. […]
The transition towards the electrification of vehicles is a challenge for car industry and whoever manages it best will succeed, the CEO of German automaker told CNBC Tuesday. “We are really getting into a transition period of the automotive industry and, reading between the lines of all the communications our […]
Sweden‘s Volvo Buses began trial services for its first full-sized driverless electric bus in Singapore on Tuesday, in what its president has dubbed “the world‘s first.” Speaking to CNBC‘s “Squawk Box,” Hakan Agnevall, the president of Volvo Buses, said the vehicle is the “first full-sized, autonomous electric bus in the […]
Bugatti, the French sports car brand that is now owned by German automaker Volkswagen, has revealed the most expensive new car ever built. With a sale price of 16.7 million euros ($19 million), the Bugatti La Voiture Noire was publicly debuted Tuesday at the Geneva International Motor Show in Switzerland. […]
Alongside seismic structural shifts taking place in the car industry including electrification and autonomous vehicles, German carmakers say that the potential for punitive U.S. tariffs on European car and part imports are casting a large shadow over the industry. CEOs at the Geneva Motor Show told CNBC that geopolitical tensions […]
plans a major ramp-up of production for its two best-selling brands, Jeep and Ram, by adding a new assembly plant in Detroit as part of a $4.5 billion investment program announced last week. The automaker also announced its most significant commitment yet to adding electric vehicles to its lineup, starting […]
The biotech sector is on pace for its worst weekly decline since December, weighed down in part by uncertainty following from Scott Gottlieb that he will be stepping down next month. “I think people are a little bit shocked, and taking a step back and saying, ‘what does this mean […]
Forget student loans. Insufficient income is the No. 1 hurdle keeping many people from buying a home. More than half of the participants in a cited inadequate income as a barrier to homeownership. The personal finance site polled 2,668 adults between Jan. 30 and Feb. 1. In fact, when it […]
U.S. investors swarmed into sovereign debt and fled the volatility of stock markets on Thursday after Europe‘s central bank cut its GDP forecast, rekindling fears that a slowdown overseas could send shock waves into the American economy. Money managers sought the relative safety of government debt after the European Central […]
