Ford sold 91 million shares of EV startup Rivian last year

RJ Scaringe, Rivian founder and CEO, and Ford Executive Chairman Bill Ford announce a $500 million Ford investment in Rivian. Source: Ford Motor Co. DETROIT – Ford Motor liquidated most of its ownership stake last year in electric vehicle maker Rivian Automotive, according to the Detroit automaker’s annual report submitted to the Securities and Exchange … Read more

View More Ford sold 91 million shares of EV startup Rivian last year

Biden administration expands EV tax credits in boost for Tesla, Cadillac, others

A Tesla Model Y on display inside a Tesla store at the Westfield Culver City shopping mall in Culver City, California, U.S., on Thursday, April 14, 2022. Bing Guan | Bloomberg | Getty Images DETROIT – The U.S. Treasury said Friday it is changing its definition of an “SUV” to make more electric vehicles from … Read more

View More Biden administration expands EV tax credits in boost for Tesla, Cadillac, others

Southwest faces Senate hearing next week following holiday meltdown

John and Lori Ingoldsby, who drove to Denver after the first leg of their flight on Southwest Airlines was canceled, wait for a flight to finish their trip at Denver International Airport on December 28, 2022 in Denver, Colorado. Michael Ciaglo | Getty Images Southwest Airlines‘ chief operating officer, Andrew Watterson, will face questions from … Read more

View More Southwest faces Senate hearing next week following holiday meltdown

Ford CEO Jim Farley’s frustration builds as he vows to transform the automaker

Ford CEO Jim Farley is frustrated. The company’s fourth-quarter earnings on Thursday missed analyst expectations by a wide margin, as costs and supply chain issues again hurt Ford’s bottom line, Farley knows his company needs to change. “We have to change our cost profile,” Farley told CNBC after a call with analysts to discuss the … Read more

View More Ford CEO Jim Farley’s frustration builds as he vows to transform the automaker

Chinese Tesla rival Xpeng launches flagship EVs in Europe in international push

Xpeng is pushing aggressively into international markets. The Chinese electric car start-up launched its P7 sedan and G9 SUV in Denmark, Norway, the Netherlands and Sweden. Zhang Peng | LightRocket | Getty Images Xpeng, a Chinese electric vehicle startup, on Friday launched two of its flagship cars across a number of European countries, as it … Read more

View More Chinese Tesla rival Xpeng launches flagship EVs in Europe in international push

Ford is set to report results after the bell. Here’s what Wall Street expects

Ford CEO Jim Farley takes off his mask at the Ford Built for America event at Fords Dearborn Truck Plant on September 17, 2020 in Dearborn, Michigan. Nic Antaya | Getty Images DETROIT – Ford Motor is set to report its fourth-quarter earnings after the bell Thursday. Here’s what Wall Street is expecting, according to … Read more

View More Ford is set to report results after the bell. Here’s what Wall Street expects

Ford’s U.S. sales start 2023 on strong footing, boosted by F-Series and Bronco

Ford workers produce the electric F-150 Lightning pickup on Dec. 13, 2022 at the automaker’s Ford Rouge Electric Vehicle Center (REVC). Michael Wayland | CNBC DETROIT – Ford Motor’s new U.S. vehicle sales started 2023 on stronger footing than a year earlier, but were down 18.4% from December. January is historically one of the weakest … Read more

View More Ford’s U.S. sales start 2023 on strong footing, boosted by F-Series and Bronco

Ferrari’s profits jump 13% in 2022, supercar maker expects an even better year in 2023

Ferrari CEO Benedetto Vigna poses for a photograph as Ferrari unveils a new long term strategy, in Maranello, Italy, June 15, 2022. Flavio Lo Scalzo | Reuters Ferrari on Thursday reported full-year profits up 13% year over year and guided to an even stronger year in 2023 on what its CEO called “persistently high demand” … Read more

View More Ferrari’s profits jump 13% in 2022, supercar maker expects an even better year in 2023

Saudi Aramco backs Brooklyn-based startup turning ammonia into fuel

In the race to find cleaner fuels, the heavy duty transportation sector is woefully behind because batteries don’t have enough juice to power trucks and ships. Enter ammonia. New technology and new companies are working on turning ammonia into hydrogen to power tractors, trucks and even ships. The heavy duty trucking industry alone accounts for … Read more

View More Saudi Aramco backs Brooklyn-based startup turning ammonia into fuel

Amazon could be sitting on another $3.5 billion business, Morgan Stanley says

Amazon could have another winner with its Buy with Prime service, according to Morgan Stanley. The company started out as an online bookseller, morphed into an e-commerce giant and tackled cloud computing with Amazon Web Services. Its newest program, Buy with Prime , allows Prime members who purchase from another retailer’s website to check out … Read more

View More Amazon could be sitting on another $3.5 billion business, Morgan Stanley says