Autos

Detroit’s automakers have brought a surprisingly conservative financial strategy to making them America’s next electric vehicles of choice.

The new version of the Cadillac Escalade adds to GM’s growing lineup of high-powered gasoline models ahead of the automaker’s push toward electric vehicles.

As part of the agreement, Mercedes-Benz is expected to acquire up to 1.5 million shares of Luminar.

Concerns around sustainability and the security of global supply chains could boost opportunities related to direct lithium extraction.

London-based Wayve has been backed by a host of big name investors in a funding round that brings total investment in the company up to $258 million.

The tie-up marks one of the biggest client wins yet for Stripe, and forms part of Ford’s turnaround plan under CEO Jim Farley.

Cooley LLP did not fire the attorney, and Elon Musk’s Tesla and SpaceX have since started to replace the firm, The Wall Street Journal reported.

The U.S. used to be a global leader in lithium production, but now has fallen way behind. Several domestic projects are in the works, but will it be enough?

The decision to purchase the shares bucks a recent trend by CEOs and corporate insiders who sold a record $69 billion in stock in 2021.

Elon Musk tweeted that Tesla merchandise can be purchased with dogecoin, sending the cryptocurrency’s price soaring.

Tesla and BYD remained market leaders in China’s electric car market last year, while new competitors emerged, according to the China Passenger Car Association.

Chinese electric carmakers like Xpeng to Nio are turning to chips from Nvidia to power their semi-autonomous driving systems to ramp up competition with Tesla.

The potential upside for President Biden is that inflation is expected to moderate organically and as the Fed looks to raise interest rates this year.

Ford shares were up by as much as 5.7% to $25.87, continuing a more than 20-year high for the automaker’s stock price.

JB Straubel says industry sales estimates predicting EVs will account for 12.7% of all U.S. auto sales by 2025 may be too low.

Estonia-based ride-hailing start-up Bolt says it has raised $711 million in a new round of funding led by Sequoia Capital and Fidelity.

Shares of Rivian continued to fall during afterhours trading Monday after confirming its vehicle production last year as well as the departure of an executive.

California Governor Gavin Newsom presented a $286.4 billion budget proposal, dubbed the “California Blueprint,” for the state on Monday.

While an inventory squeeze at dealerships isn’t getting worse, pent-up demand is expected to keep inventories low and prices high this year.

In a series of posts on Twitter, where he has 69.2 million followers, Musk wrote, “Tesla FSD price rising to $12k on Jan 17. Just in the US.”