The once highly-anticipated Apple car project appears to have come to an end, with the tech giant pivoting towards investing more resources into generative AI. Despite this significant shift in strategy, stocks of major auto companies like Ford Motor, General Motors, and Tesla remained relatively unaffected. Lack of Concrete Details After reports from Bloomberg surfaced earlier … [Read more...] about Apple Abandons Car Project
Auto Industry
Auto Stocks Drop as ON Semiconductor Disappoints
Stock in Tesla and other auto makers took a hit on Monday following a disappointing forecast from automotive chip maker ON Semiconductor. The company reported third-quarter sales of $2.18 billion, slightly surpassing analysts' expectations of $2.15 billion. However, ON Semiconductor's management projected fourth-quarter sales of approximately $2 billion, falling short of Wall … [Read more...] about Auto Stocks Drop as ON Semiconductor Disappoints
President Biden Touts Auto Industry Agreements, Criticizes Trump’s Approach to EVs
President Joe Biden recently praised the agreements reached between the United Auto Workers (UAW) and the Big Three carmakers. However, he also took the opportunity to criticize former President Donald Trump's stance on promoting electric vehicles (EVs). During a speech in Belvidere, Ill., where Chrysler and Jeep parent company Stellantis has agreed to reopen a plant, Biden … [Read more...] about President Biden Touts Auto Industry Agreements, Criticizes Trump’s Approach to EVs
