General Motors (GM) to delay EV truck production at Michigan plant

Chinas CATL reports severe drop in profit growth as EV demand weakens

China's CATL, the leading global battery manufacturer for electric vehicles (EV), announced on Thursday that its third-quarter profits had grown by 10.7%, representing the companys slowest quarter since the beginning of last year. Management attributes the slowdown to a combination of reduced demand and intensified competition.

This growth figure stands in stark contrast to the 63.2% profit increase in the previous quarter and the substantial 188.4% surge experienced in the third quarter of 2022.

Recent data revealed that CATL witnessed a decline... More

Tesla (TSLA) follows GM and Ford (F), slows EV ramp as demand drops

Tesla (NASDAQ: TSLA), on Wednesday, echoed the cautious approach of General Motors (NYSE: GM) and Ford (NYSE: F) towards expanding electric vehicle (EV) production capacity. The company cited economic uncertainties and emphasized concerns about a possible decline in demand.

Tesla CEO, Elon Musk voiced his apprehension about the... More

Ford (F) announces management shuffle as UAW strikes continue

Ford Motor (NYSE: F), on Wednesday, revealed a restructuring of its management, appointing Kumar Galhotra, the head of the combustion vehicle unit, as the new chief operating officer.

This development comes despite the continued autoworkers strike showing scant indications of resolution.

Galhotra, formerly in charge of the Ford Blue unit responsible for gas and hybrid vehicles, will now oversee the global industrial system of the automaker.

Meanwhile, Andrew Frick, who previously handled sales and... More

NHTSA probes GM’s self-driving unit for pedestrian risk

On Tuesday, U.S. auto safety regulators initiated an investigation to determine whether General Motors' (NYSE: GM) self-driving division, Cruise, is adequately prioritizing safety measures for its autonomous robotaxis to protect pedestrians.

The National Highway Traffic Safety Administration (NHTSA) disclosed that it has received two reports from Cruise concerning incidents in which pedestrians were harmed.

Additionally, the NHTSA has identified two additional incidents... More

GM delays EV truck production at Michigan plant by year

By David Shepardson and Ben Klayman

DETROIT (Reuters) -General Motors Co said on Tuesday it will delay production of electric pickup trucks at its plant in Michigan's Orion Township by a year as the No. 1 U.S. automaker grapples with flattening demand for electric vehicle.

The move is the latest sign that electric vehicle production and demand may not be as strong as forecast. GM had been set to begin production of the electric Chevrolet Silverado and GMC Sierra in late 2024 at the suburban Detroit plant. The company said the plan now is to start it in late 2025.

Tesla (TSLA) pushes US to adopt stricter fuel efficiency rules

Prominent electric vehicle manufacturer, Tesla (NASDAQ: TSLA) on Tuesday, called upon the Biden administration to swiftly solidify more rigorous fuel economy standards through 2032 than those initially proposed by U.S. regulators, placing the automaker at odds with major OEMs.

In July, the National Highway Traffic Safety Administration (NHTSA) introduced a proposal to... More

Ford Motor (F) Declares $0.15 Quarterly Dividend; 5% Yield

Ford Motor (NYSE: F) declared a quarterly dividend of $0.15 per share, or $0.6 annualized.

The dividend will be payable on December 1, 2023, to stockholders of record on November 1, 2023, with an ex-dividend date of October 31, 2023.

The annual yield on the dividend is 5 percent.

For... More

U.S. Auto-Safety Regulators Investigate Cruise's Self-Driving Cars Over Pedestrian Risks - WSJ

U.S. Auto-Safety Regulators Investigate Cruise's Self-Driving Cars Over Pedestrian Risks - WSJ

Ford (F) recalls 230K Explorer SUVs for rollaway risk

Ford is recalling certain 2020-2022 Ford (NYSE: F) Explorers due to the potential risk of rolling away if the parking brake is not engaged.

According to the National Highway Traffic Safety Administration, 238,364 vehicles are affected by this recall. The issue stems from a... More

Ford (F) calls for deal to end UAW strike

On Monday, Bill Ford, the Executive Chairman of Ford Motor Company (NYSE: F), appealed to the United Auto Workers union to cease their 32-day strike and come to terms on a fresh labor agreement.

Ford highlighted the escalating repercussions for both the automaker and the broader U.S. economy.

"We... More

Ford Motor (F) call put ratio 2.6 calls to 1 put amid UAW talk headlines

Ford Motor (NYSE: F) 30-day option implied volatility is at 35; compared to its 52-week range of 27 to 588. Call put ratio 2.6 calls to 1 put.

Ford, UAW leaders spar as auto strike costs rise

By Joseph White and David Shepardson

DEARBORN, Michigan (Reuters) - Ford executive chairman Bill Ford on Monday urged the United Auto Workers union to end a 32-day strike and reach a new labor agreement, and warned of the growing impact to the automaker and the U.S. economy.

"We can stop this now," Ford said of the strike that expanded last week to shut down the Kentucky plant. "I call on UAW colleagues ... We need to come together to bring an end to this acrimonious round of talks."

Ford made his appeal in a press conference at... More

Stellantis (STLA), Ford (F) layoff 1,250 additional workers as UAW strike continues

Chrysler-parent company Stellantis (NYSE: STLA) and Ford Motor (NYSE: F) announced on Friday that they would be implementing temporary layoffs for 1,250 employees, citing the repercussions of the ongoing United Auto Workers (UAW) strike.

In light of the strike, Stellantis disclosed that 1,340 employees are... More

Carmakers Spared From New UAW Strikes As Talks Progress - Bloomberg

Carmakers Spared From New UAW Strikes As Talks Progress - Bloomberg

JPMorgan, Wells Fargo and Dollar General rise premarket; BlackRock, Netflix fall

Investing.com -- U.S. futures drifted lower Friday, as investors digested the release during the previous session of hotter than expected inflation data as well as key bank earnings.

Here are some of the biggest premarket U.S. stock movers today:

JPMorgan Chase (NYSE: JPM) stock... More