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Tag: Autos

  • Sen. Tim Kaine amongst masses trapped in a single day in D.C.-area site visitors jam brought about via storm from snow, deep freeze

    Virginia Sen. Tim Kaine is likely one of the masses of drivers who on Tuesday morning were trapped for hours in a brutal site visitors jam brought about via heavy snows and iced-over roads on a freeway outdoor of Washington.

    “I began my standard 2 hour force to DC at 1pm the day past,” Kaine tweeted at 8:27 a.m. ET. “19 hours later, I am nonetheless now not close to the Capitol.”

    Nonetheless in his automotive round 10 a.m. ET, Kaine tweeted, “A CT circle of relatives returning in a packed automotive from Florida walked via in the midst of the night time handing out oranges as we have been stopped for hours on I-95. Bless them!”

    “This has been a depressing enjoy, however in the future I roughly made the transfer from a depressing go back and forth enjoy into roughly a survival venture,” Kaine stated in a telephone interview Tuesday morning with Washington radio station WTOP.

    The Democratic senator, who was once Hillary Clinton’s operating mate within the 2016 election towards former President Donald Trump, stated he had supposed to go back to paintings Monday to proceed Senate negotiations on a voting-rights deal. However greater than 21 hours after leaving his house in Richmond, he nonetheless has now not handed the Stafford Airport, which is set 50 miles from Washington.

    “I have by no means noticed the rest find it irresistible, I assume that is all I will say,” Kaine stated.

    Stranded cars are noticed in nonetheless symbol from freeway site visitors digital camera video as government labored to reopen an icy stretch of Interstate 95 closed after a typhoon blanketed the U.S. area in snow an afternoon previous, close to Colchester, Virginia, January 4, 2022.

    Virginia Division of Transportation | Handout | by the use of Reuters

    The Virginia Division of Transportation has closed the I-95 interstate, with disabled cars and downed timber being reported within the Fredericksburg field, about 50 miles south of D.C.

    “We have now an estimated 20-30 vehicles caught” on I-95 northbound, VDOT Fredericksburg tweeted in a while earlier than middle of the night.

    Prerequisites are hazardous on different Virginia roads, as smartly, with VDOT caution Louisa County in a single day of “a number of jack-knifed tractor-trailers” on U.S. Direction 522.

    “We would like we had a timetable, ETA or an informed wager on when go back and forth will resume on I-95. It is at a standstill in our field with a couple of incidents. Its irritating & horrifying,” VDOT Fredericksburg tweeted Monday night time.

    NBC Information’ Josh Lederman, who was once additionally caught in his car in a single day, referred to as the scene “somewhat dystopian” in an interview on MSNBC’s “Morning Joe” on Tuesday morning.

    “No person is aware of how lengthy we are going to be right here or hw we are going to get out,” he reported from his automotive.

    Different drivers stranded within the gridlock have been pressured to show off their vehicles to preserve gas, whilst temperatures fell smartly under freezing in a single day, Lederman stated.

    Virginia Gov. Ralph Northam tweeted Tuesday morning that “State and native emergency group of workers are proceeding to transparent downed timber, lend a hand disabled cars, and re-route drivers.”

    “An emergency message goes to all stranded drivers connecting them to beef up, and the state is operating with localities to open warming shelters as wanted. Whilst daylight is predicted to lend a hand @VaDOT transparent the street, all Virginians will have to proceed to steer clear of 1-95,” Northam tweeted.

    Some other reporter, CBS Information’ Jim DeFede, stated in a video posted at 10 a.m. ET that he has been caught on I-95 close to Quantico for just about 18 hours.

    That is growing information. Please take a look at again for updates.

  • Ford plans to just about double manufacturing of its new all-electric F-150 Lightning pickup

    Ford has began preliminary pre-production of its electrical F-150 Lightning pickup truck at a brand new plant in Dearborn, Mich.

    Michael Wayland | CNBC

    DETROIT – Ford Motor on Tuesday mentioned it plans to just about double annual manufacturing capability of its upcoming electrical F-150 pickup to 150,000 cars in step with yr via mid-2023, mentioning sturdy person call for.

    The rise is a good signal of call for for the F-150 Lightning in addition to electrical cars generally but in addition presentations Ford considerably underestimated call for for the truck, inflicting it to now scramble to extend it. That is the second one time Ford has mentioned it plans to double manufacturing of the car, which is due out within the spring. Preliminary manufacturing was once set for roughly 40,000 devices.

    “The reception of this car has been completely unbelievable,” Kumar Galhotra, Ford president of the Americas & world markets, mentioned Tuesday all through CNBC’s “Squawk Field.”

    Stocks of Ford have been up via about 3% all through pre-market buying and selling.

    Ford’s manufacturing plans come earlier than the automaker begins taking orders for the car on Thursday. The corporate gained about 200,000 nonbinding reservations for the truck earlier than it stopped taking the pre-orders final month.

    At the moment, Ford CEO Jim Farley instructed CNBC that the corporate was once doing “no matter it takes” to double manufacturing capability for the F-150 Lightning.

    “We needed to prevent reservations, we were given such a lot of,” Farley instructed CNBC’s Jim Cramer. “We stopped at 200,000, and the ones are orders. Laborious orders.”

    Ford mentioned it’ll be imposing a “wave-by-wave reservation procedure,” with reservation holders being requested to stay up for a call for participation by means of e-mail from Ford or to log into their Ford.com account over the following few months to position an order for his or her car.

    This week is the overall pre-build segment earlier than transitioning into mass manufacturing of F-150 Lightning vans for retail shoppers and F-150 Lightning Professional for business shoppers, Ford mentioned.

    Ford’s manufacturing plans come an afternoon earlier than Common Motors is scheduled to show an electrical model of its Chevrolet Silverado. The pickup is anticipated to compete extra at once with the F-150 Lightning than its GMC Hummer EV, which not too long ago began delivery to customers. The Silverado is not anticipated to move on sale till 2023.

    Pricing for the F-150 Lightning, similar to the normal pickup, has a variety. A piece-oriented model of the truck will get started at $39,974. Extra consumer-centric fashions will get started at $52,974 and best out at round $90,000.

  • Tesla opened a dealership in Xinjiang, China, in spite of fashionable studies of Uyghur oppression there

    Tesla has opened a brand new gross sales and repair middle within the Xinjiang area of China, house to a Muslim inhabitants referred to as the Uyghurs whom the United Countries and rights organizations have recognized as a repressed ethnic crew.

    In 2021, the United States, United Kingdom and Canada mentioned China engages in “compelled labour, mass detention in internment camps, compelled sterilisations” and different abuses in opposition to Uyghurs. One at a time, the EU imposed sanctions on China for “arbitrary detentions” of Uyghurs.

    China has time and again disregarded the ones claims as “lies and disinformation.”

    Tesla introduced the transfer closing week on Weibo, a well-liked social media platform within the nation. The Wall Boulevard Magazine prior to now reported on Tesla’s transfer into Xinjiang.

    A Dec. 31 put up on Tesla’s Weibo account which was once translated by means of CNBC mentioned: “The Urumqi Tesla Heart formally opens #inanewdirection… As the primary Tesla Heart in Xinjiang, this location integrates gross sales, provider and supply. It’ll assist Xinjiang customers benefit from the revel in of one-stop provider, escorting Tesla automotive homeowners on their adventure to the west.”

    Any other Weibo put up on that very same date mentioned: “#inanewdirection Urumqi Tesla Heart has formally opened! At the closing day of 2021 we meet in Xinjiang. In 2022, let’s start Xinjiang’s adventure to natural electrical [vehicles]! Come across much more good looks!”

    The hashtag words comprised wordplay in Chinese language. The nature that spells “new” is contained within the first part of the area’s identify, Xinjiang.

    Many social media customers in China expressed appreciation in accordance with Tesla’s posts. However the transfer elicited outrage within the West.

    As NBC Information prior to now reported in June 2021, Amnesty Global researchers discovered that “Chinese language government within the western area of Xinjiang had been rounding up men and women — in large part Muslims from the Uighur, Kazakh and Kyrgyz ethnic minorities — and detaining them in camps designed to rid them of terrorist or extremist leanings since 2017.

    “Greater than 1 million Uighurs and different minorities from Xinjiang are believed to be held in internment camps, the place they’re compelled to check Marxism, surrender their faith, paintings in factories and face abuse, consistent with human rights teams and first-hand accounts. Beijing says those ‘re-education camps’ supply vocational coaching and are important to struggle extremism.”

    In reaction, U.S. senators not too long ago authorized a invoice banning imports from China’s Xinjiang area except companies can end up they had been produced with out compelled hard work.

    The writer of the invoice, U.S. Senator Marco Rubio (R-Fla.), mentioned of Tesla in a press remark, “Nationless firms are serving to the Chinese language Communist Celebration duvet up genocide and slave hard work within the area.”

    Tesla didn’t reply to requests for remark. Tesla stocks rose greater than 13% on Monday after the corporate reported report car deliveries for 2021.

    Elon Musk’s electrical car corporate and his re-usable rocket corporate SpaceX have each confronted scrutiny in China.

    For instance, China despatched a criticism to the United Countries closing yr revealing that SpaceX satellites had just about collided with China’s area station on two separate events in 2021.

    With just about 30,000 satellites and different particles believed to be orbiting the planet, scientists have instructed governments to percentage knowledge to scale back the danger of disastrous collisions. SpaceX has deployed just about 1,900 satellites to serve its Starlink broadband community, and is making plans to release hundreds extra.

    Sooner than that, China mandated recollects of Tesla cars over high quality defects, and the Chinese language executive limited the usage of Teslas by means of some state and armed forces staff mentioning safety issues.

    However Tesla has additionally helped Beijing display that it’s open to overseas companies, and {that a} overseas corporate can thrive in its reasonably closed marketplace.

    In 2019, when Musk broke flooring on Tesla’s Shanghai manufacturing facility, the CEO mentioned, “Any individual who joins lately as a junior engineer in Tesla China may someday be CEO of Tesla international…They might have my activity someday perhaps.”

    In July 2020, Musk posted on Twitter that “China rocks” whilst the U.S. is stuffed with “complacency and entitlement.”

  • Ford beats out Tesla to grow to be the automobile business’s most sensible expansion inventory in 2021

    The all-electric Ford F-150 Lightning truck right through an augmented fact presentation on the Motor Bella Auto Display in Pontiac, Michigan, on Tuesday, Sept. 21, 2021.

    Emily Elconin | Bloomberg | Getty Pictures

    DETROIT – Stocks of Ford Motor soared via kind of 140% closing yr, beating Tesla, its better crosstown rival Basic Motors and a number of latest electrical car start-ups to grow to be the most efficient appearing inventory amongst automakers in 2021.

    Traders have rewarded the corporate’s new course below auto veteran Jim Farley, who took the helm in October 2020 after the board ousted business outsider Jim Hackett.

    Farley promised to be extra open and direct with traders. He additionally introduced the Ford+ restructuring plan, which shifts extra assets to construct electrical automobiles like the impending F-150 Lightning pickup EV.

    “We are executing our plan and we will proceed to try this so each and every industry in our portfolio has a sustainable long run. If now not, we will be able to restructure it,” he stated in a January 2021 interview.

    Morgan Stanley analyst Adam Jonas referred to as 2021 “in reality a step forward yr for Ford… simply an important yr strategically for the corporate for the reason that monetary disaster.”

    The corporate’s greatest single-day proportion building up closing yr got here on Dec. 10 when Farley showed on Twitter that Ford would triple manufacturing of its electrical Mustang Mach-E to greater than 200,000 devices in keeping with yr for North The united states and Europe via 2023. He instructed CNBC the day prior to that the corporate halted reservations of the F-150 Lightning when they hit 200,000 devices.

    Stocks that day jumped 9.6% to near at a kind of 20-year prime of $21.45 a proportion.

    The following highest day for traders got here on Oct. 28 after the automaker delivered its third-quarter income the place it raised its once a year steerage and delivered EPS that had been double analysts’ estimates. Stocks rose via 8.7%.

    Stocks additionally soared via 8.5% on Would possibly 26 right through the automaker’s investor day which disclosed main points of the Ford+ turnaround plan. In addition they jumped via 8.4% on Jan. 20 after Deutsche Financial institution added a non permanent purchase concept at the inventory forward of its 2020 income document.

    Since Farley took the helm of Ford greater than 15 months in the past, the inventory is up via greater than 200%. Whether or not he can proceed that run is in large part anticipated to be made up our minds via the corporate’s talent to ship on tasks defined in his Ford+ plan that incorporated accelerating EV plans and attaining an 8% adjusted benefit margin prior to passion and taxes via 2023.

    Ford is rated obese with a value goal of $20.25 a proportion and a long-term expansion charge of 67.8%, consistent with a mean of twenty-two analysts compiled via FactSet. Stocks closed closing yr at $20.77, up via 136.3% in 2021.  

    Ford, at a marketplace cap of $83 billion, nonetheless has a protracted highway forward of it to get its marketplace worth as much as maximum of its established competition in addition to EV start-up Rivian.

    This is how different legacy automakers in addition to most sensible rising EV start-ups ended closing yr and what analysts be expecting from them in 2022, consistent with moderate analysts compiled via FactSet.

    Tesla (TSLA): $1,056.78, up 49.8%

    Ranking/goal: Hang/$878Market cap: $1.1 trillion

    Lucid (LCID, since July 26): $38.05, up 41.8%

    Ranking/goal: Obese/$44.33Market cap: $62.6 billion

    Volkswagen (VWAGY): $29.39, up 41.2%

    Ranking/goal: Obese/$28.77Market cap: $127.9 billion

    Basic Motors (GM): $58.63, up 40.8%

    Ranking/goal: Purchase/$74.45Market cap: $85.1 billion

    Toyota (TM): $185.30, up 19.9%

    Ranking/goal: Obese/$211.59Market cap: $253.2 billion

    Ferrari (RACE): $258.82, up 12.8%

    Ranking/goal Hang/$258.40Market cap: $47.6 billion

    Stellantis (STLA): $18.76, up 10%

    Ranking/goal: Purchase/$26.51Market cap: $59.2 billion

    Fisker (FSR): $15.73, up 7.4%

    Ranking/goal: Obese/$25.50Market cap: $4.7 billion

    Rivian (RIVN, since Nov. 10): $103.69, up 2.9%

    Ranking/goal: Obese/$133.92Market cap: $93.4 billion

    Nio (NIO): $31.68, down 35%

    Ranking/goal: Purchase/$59.18Market cap: $52.1 billion

    Nikola (NKLA): $9.87, down 35.3%

    Ranking/goal: Hang/$15.29$4 billion

    Lordstown Motors (RIDE): $3.45, down 82.8%

    Ranking/goal: Underweight/$4.60$663.2 million

    – CNBC’s Michael Bloom contributed to this document.

  • Catalytic Converter Robbery Soars Right through Coronavirus Pandemic

    RICHMOND, Va. (AP) — Within the tiny the city of Lawrenceville, Virginia, a van owned via Poplar Mount Baptist Church used to be knocked out of fee for weeks after thieves lower the catalytic converter out of its exhaust device.

    A number of months later, throughout the city, a catalytic converter used to be ripped from a van owned via First Baptist Church.

    Identical crimes adopted, focused on a complete of 15 church trucks and 13 different automobiles on the town, a part of a national surge in thefts of catalytic converters.

    Thefts of the exhaust emission keep watch over gadgets have jumped during the last two years as costs for the dear metals they comprise have skyrocketed. Thieves can be expecting to get any place from $50 to $300 in the event that they promote the converters to scrap yards, which then promote them to recycling amenities to reclaim the dear metals within, together with platinum, palladium and rhodium.

    For sufferers, the prices of changing a stolen catalytic converter can simply best $1,000 and make their automobile undrivable for days or even weeks because the section is ordered and put in. It may possibly additionally go away homeowners feeling prone.

    “Simply to really feel that the church assets used to be invaded via thieves used to be disheartening,” stated John Robinson, a member of Poplar Mount Baptist Church.

    Robinson stated changing the stolen converter value about $1,000. The robbery used to be lined via insurance coverage, however the church needed to pay its $250 deductible and used to be not able to make use of the van for 6 weeks because it sat in a mechanic’s backyard looking forward to a brand new section.

    Utah lawmakers are considering a crackdown on theft of the emission control devices from cars that are stolen for the precious metals found inside.
    Utah lawmakers are taking into consideration a crackdown on robbery of the emission keep watch over gadgets from automobiles which are stolen for the dear metals discovered within.

    Utah Legal professional Basic’s Workplace by means of Related Press

    The Nationwide Insurance coverage Crime Bureau stated the collection of catalytic converter thefts reported in claims to insurance coverage corporations jumped from 3,389 in 2019 to fourteen,433 in 2020. NICB President David Glawe stated there was an important build up in thefts for the reason that starting of the COVID-19 pandemic.

    “It’s an opportunistic crime,” Glawe stated in a remark. “As the worth of the dear metals contained throughout the catalytic converters continues to extend, so do the collection of thefts of those gadgets. There’s a transparent connection between occasions of disaster, restricted sources, and disruption of the provision chain that drives buyers against those valuable metals.”

    The rise in thefts has caused states around the nation to strengthen consequences and impose new necessities for scrap steel sellers who purchase the converters. Ten states enacted new law in 2021, together with regulations in Arkansas, South Carolina and Texas that require scrap steel patrons of used converters to handle data of purchases, together with evidence of possession, automobile id numbers, the vendor’s house deal with and driving force’s license numbers, consistent with the insurance coverage crime bureau.

    In North Carolina, a legislation that went into impact Dec. 1 makes catalytic converter thefts a Elegance I prison and calls for companies that purchase used catalytic converters to get documentation and handle detailed data on individuals who promote the gadgets to them.

    A invoice modeled after the North Carolina legislation can be presented in Virginia when the legislature reconvenes in January. The measure would make the robbery of a catalytic converter a prison and presume that anybody in ownership of one who’s been got rid of from a automobile has got it illegally until the individual is a licensed scrap vendor or has a invoice of sale, receipt or different documentation.

    “It could make it extra dangerous for the thieves to thieve them,” stated Sen. Frank Ruff Jr., who’s sponsoring the invoice. “The dealers must display extra id, after which on the identical time, the salvage broker would now not need to get in bother so he’d be much less most probably so they can promote to him.”

    Brunswick County Sheriff Brian Roberts, who has observed the collection of thefts in his rural space develop from seven to 9 every year to twenty-eight this 12 months, stated converters can also be stolen in mins. Thieves want simplest move slowly underneath a automobile and use a battery-operated reciprocating noticed to chop throughout the steel and take away the section, he stated.

    In Henrico County, the place about 540 catalytic converters were reported stolen this 12 months, police have produced public provider bulletins to boost consciousness.

    David Overby, proprietor of Auto Upkeep Plus, stated he spent greater than $5,000 on lights and a safety device with cameras after thieves many times stole catalytic converters off his shoppers’ automobiles in his parking space. Overby stated police arrested two other folks stuck on his cameras stealing converters, however he stated underneath the present legislation, they had been simplest charged with a misdemeanor.

    “Those other folks have were given to be held responsible by hook or by crook, now not given a slap on their wrist,” Overby stated.

    At Chesterfield Auto Portions, the place shoppers can pull portions from junked automobiles, proprietor Troy Webber stated his staff take away catalytic converters sooner than the automobiles are made to be had to the general public, then lock the gadgets in metal boxes sooner than promoting them to auto recyclers. That doesn’t forestall thieves from seeking to destroy in, he stated.

    “Other folks lower thru our fence continuously to take a look at to thieve the catalytic converters,” he stated.

    Henrico police Leader Eric English stated catalytic converters were lower from automobiles parked in householders’ driveways. Police have suggested other folks about robbery prevention measures, together with protecting shields and covers for the converters. They’ve additionally presented to stencil a mark on catalytic converters to permit scrap backyard sellers and recyclers to extra simply identification a stolen converter.

    “It’s indubitably one thing we need to come up with as it’s inflicting a large number of households and a large number of other folks some heartburn,” English stated. “It’s now not one thing other folks should have occur to them.”

  • Tesla delivered 936,172 electrical automobiles in 2021, with the fourth-quarter environment a brand new document

    Guests having a look at a China-made Tesla Type Y electrical automobile on the Auto Shanghai 2021 display in Shanghai, China, on April 27, 2021.

    Qilai Shen | Bloomberg | Getty Photographs

    Tesla stated on Sunday that it delivered greater than 308,000 electrical automobiles within the fourth quarter of 2021, beating its earlier single-quarter document. The automaker produced over 305,000 absolutely electrical automobiles general all over the similar length.

    For the total yr, Tesla delivered 936,172 automobiles, up from 2020 when it reported its first annual benefit on deliveries of 499,647.

    Within the 3rd quarter of 2021, automobile deliveries reached 241,300, Tesla’s earlier easiest quarter.

    Deliveries are the nearest approximation of gross sales reported by means of CEO Elon Musk’s electrical automotive corporate.

    Tesla combines supply numbers for its higher-priced Type S and X automobiles, and lower-priced Type 3 and Y automobiles. The corporate does no longer get away gross sales or manufacturing numbers by means of area.

    In step with the imply of estimates compiled by means of FactSet, Wall Boulevard analysts had expected Tesla deliveries of 267,000 within the fourth quarter. (Estimates ranged from 245,000 to 292,000.)

    Shrugging off shortages

    At Tesla’s 2021 annual shareholder assembly, Musk bemoaned a yr marked by means of provide chain issues that made it tough to procure sufficient microchips and different unspecified portions.

    All through the second one yr of an international coronavirus pandemic, Tesla was once in a position to extend automobile deliveries by means of ramping up manufacturing at its first out of the country manufacturing facility in Shanghai, and by means of making technical adjustments to the vehicles that it produces in Fremont, California, in order that it will ditch some portions altogether.

    Significantly, Tesla introduced in Would possibly that it was once taking out radar sensors from Type 3 and Type Y automobiles constructed for purchasers in North The united states. The ones vehicles now depend on a camera-based gadget to permit Tesla’s driving force help options similar to traffic-adjusted cruise keep an eye on or automated lane-keeping.

    Taking a look forward

    Musk has proclaimed that he desires to extend Tesla’s automobile gross sales quantity to twenty million yearly over the following 9 years. In pursuit of that enlargement, Tesla is poised to begin manufacturing of the Type Y crossover at its new manufacturing facility in Austin, Texas, this yr. It goals to open some other manufacturing facility in Brandenburg, Germany, after that.

    The corporate not too long ago moved its headquarters to Texas. The CEO introduced the plan in October, and Tesla made it respectable in early December.

    Final month, Musk wrote on Twitter, the place he has about 68.4 million fans, “Giga Texas is a $10B+ funding through the years, producing no less than 20k direct & 100k oblique jobs.” In step with public filings, Tesla plans to spend $1.6 billion at the Austin, Texas, manufacturing facility in its first section now underway.

    In spite of growth and ambitions in Texas, Tesla has behind schedule plans to begin high-volume manufacturing of its Cybertruck, a distinctly angular pickup, till 2023. The corporate’s Semi and made over Roadster are nonetheless within the works, too.

    Trade outlook

    The corporate now dominates battery electrical automobile gross sales within the U.S. and far of the arena. However it’s anticipated to lose general marketplace proportion as competition convey out absolutely electrical fashions of their very own.

    For instance, Toyota has advised traders it is going to make investments $35 billion to convey 30 battery-electric automobiles out by means of 2030. Rivian not too long ago started deliveries of its battery-electric pick-up and SUV. And Ford stopped taking reservations for its F-150 Lightning electrical pickup truck after receiving 200,000 orders.

    Tesla’s gross sales are nonetheless anticipated to upward thrust with general electrical automobile call for, which is partially pushed by means of local weather legislation.

    Hoping to slash air air pollution from transportation, states together with California and New York, are following within the footsteps of a number of Ecu nations and towns, by means of environment a date wherein they’re going to ban gross sales of maximum gas-powered automobiles.

    Through 2030, about 24% of recent automobiles bought international usually are absolutely electrical, in keeping with forecasts from Alix Companions.

    —CNBC’s Jessica Bursztynsky and Jordan Novet contributed reporting.