Autos

Norway has had massive success with EV adoption — 82% of new cars sold in the country in 2023 were electric, according to the Norwegian Road Federation. This high adoption rate can be attributed to the generous subsidies the Scandinavian country has offered to electric vehicle owners as well as its investment in charging infrastructure.Tesla's sales in the country may represent only a sliver of the 1.8 million vehicles the company delivered globally last year, but its importance to the EV maker goes beyond revenue.…

BYD electric cars waiting to be loaded onto a ship are seen stacked at the international container terminal of Taicang Port in Suzhou, in China's eastern Jiangsu province on February 8, 2024.STR | AFP | Getty ImagesIn the race against Tesla for the global electric car market, Chinese automaker BYD is pushing hard overseas despite rising barriers to the U.S. market.The Shenzhen-based company has already tested the waters in a number of countries with some immediate sales success, often just one year after entering. Given…

The business of tires has historically been marked by tight competition, low growth and slow margins.The total market value has remained around $50 billion in the past few years, and the overall market grows at a rate of about 2% per year, according to consultancy AlixPartners.But electric vehicles are presenting a whole new set of opportunities.With their heavy weight and quick acceleration, EVs tend to burn through tires about 20% faster than internal combustion vehicles do, according to AlixPartners. And the tires cost…

A Ferrari is parked outside the New York Stock Exchange in celebration of Ferrari's initial public offering in New York City on Oct. 21, 2015.Andrew Burton | Getty ImagesFerrari CEO Benedetto Vigna promised on Tuesday that the luxury carmaker's new electric vehicle will offer drivers the same "unique" experience as its historic combustion engines.The Italian company is launching its first fully electric vehicle in the final quarter of 2025 and will open a new production site in Maranello, Italy, in June to manufacture…

Foremost Group CEO Angela Chao was intoxicated last month when she accidentally drove her Tesla X SUV in reverse over a wall into a pond on the Texas ranch she owned with her husband, billionaire venture capitalist Jim Breyer, according to a police report released Wednesday.Chao drowned after friends and rescue workers tried without success to get the 50-year-old shipping executive out of the submerged vehicle.That desperate effort is detailed in the new report, which concluded she died from an "unfortunate accident."A…

Bentley Continental GTC Speed in Kingfisher.Adam Jeffery | CNBCBentley Motors is pushing back its plans to exclusively offer all-electric vehicles by the end of this decade due to changing market conditions and a delay in its first EV.CEO Adrian Hallmark said the famed British luxury carmaker remains committed to carbon neutrality and exclusively offering EVs, but it now plans to do so a couple of years later. Bentley will continue offering plug-in hybrids alongside BEVs, or battery electric vehicles, past its previous…

General Motors Executive Vice President Global Manufacturing and Labor Relations Gerald Johnson (middle) watches as engineers and technicians set-up and test the machines that will be used to manufacture Level 1 face masks at a plant in Warren, Michigan.Photo by John F. Martin for General MotorsDETROIT – General Motors' long-time head of manufacturing is retiring, and the company has hired a former Tesla and Google executive to fill his shoes.The Detroit automaker said on Tuesday that Gerald Johnson, executive vice…

Although consumer demand for EVs hasn't shown up in the way executives had expected, sales of the vehicles are still predicted to increase in the years to come.Andrew Merry | Moment | Getty ImagesDETROIT — The buzz around electric vehicles is wearing off.For years, the automotive industry has been in a state of EV euphoria. Automakers trotted out optimistic sales forecasts for electric models and announced ambitious targets for EV growth. Wall Street boosted valuations for legacy automakers and startup entrants alike,…

The Audi SQ6 e-tron SUV.AudiAudi on Monday revealed its new all-electric Q6 e-tron SUV, the first production vehicle on its next-generation electric vehicle architecture.The Volkswagen-owned luxury carmaker says the new "Premium Platform Electric" opens up new levels of technology for Audi, including a rapid EV recharge time of 158 miles in 10 minutes.The vehicle ushers in the next generation of EVs for Audi, which continues to offer more all-electric and plug-in hybrid EVs despite growth slowing recently for EVs.Audi…

A Volkswagen EV ID.4 crossover at the Volkswagen of America plant in Chattanooga, Tenneessee, on June 8, 2022.Michael Wayland | CNBCDETROIT — Volkswagen workers at a plant in Tennessee have filed a petition with the National Labor Relations Board for a vote to join the United Auto Workers, the union announced Monday.The filing comes after a "supermajority of Volkswagen workers have signed union cards in just 100 days," the union said, marking a major milestone in the labor group's organizing drives of nonunionized auto…