Autos

Berkshire Hathaway holds an 8.2% stake in Chinese electric automaker BYD, more than it does of General Motors, Warren Buffett said in a letter to shareholders.

The all-electric Bolts – a redesigned hatchback and a new crossover – will start at under $34,000, while the GMC Hummer later this year will cost $113,000.

David Rosenberg of Rosenberg Research predicts inflation fears are temporary, and the 10-year Treasury Note yield will return to 1%.

Li Auto said late Thursday it expected to deliver between 10,500 and 11,500 cars in the first quarter of the year, or fewer than 4,000 vehicles a month.

The fees are part of increased legal expenses of $27.5 million primarily related to regulatory/legal matters in connection to fraud claims by a short seller.

General Motors believes the worst of a global chip shortage that’s forced automakers to cut production and close plants could be behind it.

Apple is one of the most valuable companies in the world, and it could become massively more valuable if it can make a splash in cars.

“I don’t think bitcoin is going to end up the medium of exchange for the world. It’s too volatile to serve well as a medium of exchange,” Munger said.

The stock closed down 18.5% to $28.70 a share, adding to a tumultuous week for the special purpose acquisition company, also known as a SPAC.

Shares of electric vehicle start-up Fisker surged more than 20% in trading Wednesday morning after the company announced a manufacturing deal with Foxconn

The booming EV plans may mean the industry has to look at recycling batteries as a new source for key minerals.

The billionaire investor said he is a large shareholder in Tata Motors and is betting the firm will be a big winner in India’s electric vehicle market.

Kia Motors is replacing its Sedona minivan with a new SUV-inspired model called the Carnival beginning in the second quarter of this year.

Tesla stock slid again as investors rotated out of high-flying tech names.

Shares of Workhorse Group dropped more than 50% at one point on Tuesday after the company was passed over for a key contract from the U.S. Postal Service.

In a CNBC interview, Lucid Motors CEO Peter Rawlinson acknowledged the company must get its luxury sedan into production to “truly drive” shareholder value.

Lucid plans to go public through a reverse merger with a blank-check company started by veteran investment banker Michael Klein.

Electric vehicle manufacturer Arrival is setting up facilities in the U.S. and U.K.

Shares of Tesla closed down 8.55% on Monday, as investors betting on a pandemic comeback rotated out of Big Tech and piled into cyclical stocks.

The company competes with Amazon-backed start-up Rivian in the electric van space.