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Lucid Motors Ceo Peter Rawlinson Steps Down

Lucid Motors has announced a significant leadership change as CEO Peter Rawlinson steps down from his roles, marking the first such transition in nearly six years. Rawlinson will take on a strategic advisory position while COO Marc Winterhoff serves as interim CEO, amid challenges related to production and sales performance of the company’s electric vehicles. This transition coincides with the introduction of the Gravity SUV and reflects the ongoing evolution of Lucid as it navigates financial hurdles and seeks to expand its market presence.

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Xiaomi Gears Up to Enter Its Luxury Car Era with SU7 Ultra Successor Δ1.74

Xiaomi is positioning itself to transition into the luxury car market, fueled by the unexpected success of its SU7 Ultra electric vehicle (EV), which exceeded initial sales forecasts with over 10,000 reservations shortly after launch. The company plans to expand its lineup with more premium models, potentially including hybrid options, while CEO Lei Jun hints at even higher-priced vehicles in the pipeline. This strategic shift reflects Xiaomi's ambition to enhance its brand image and compete with established luxury automotive brands.

Tesla, Inc. (TSLA) CEO Elon Musk: ‘There’s A Changeover That He’s Doing On The Autos’ Δ1.74

Tesla, Inc. is navigating a period of significant change under the leadership of CEO Elon Musk, who is reportedly undergoing a shift in his focus towards autonomous driving technology. As Musk's vision for Tesla's future becomes clearer, investors and analysts are taking notice of the company's progress on its ambitious project to develop fully autonomous vehicles. The stakes are high, with regulators and competitors watching closely as Tesla seeks to revolutionize the automotive industry.

Self-Driving Cars: Google and Others Map the Road to Automated Vehicles Δ1.74

General Motors has announced the discontinuation of its Cruise robotaxi service, a decision that highlights the challenges faced by companies in the autonomous vehicle sector. CEO Mary Barra cited high costs and regulatory difficulties as primary reasons for the shift in focus toward privately owned driverless cars, reflecting a significant pivot in GM's strategy. The financial burden of the Cruise project, which reported a staggering loss of $3.48 billion in 2023, raises questions about the viability of shared autonomous mobility services.

Luminar Technologies, Inc. (LAZR) to Face Scrutiny Over 2025 Outlook Δ1.73

Luminar Technologies, Inc. (NASDAQ:LAZR), one of the fastest-growing auto stocks in recent times, is set to face increased scrutiny over its 2025 outlook following the latest S&P Global auto sales forecast. The report predicts a slight decline in global light vehicle production, with production levels expected to fall by 0.4% to 88.7 million units. As Luminar Technologies' stock performance and valuation are closely tied to the growth prospects of the automotive industry, investors will be keenly watching how the company adapts to these changes.

Xiaomi to Sell EVs Globally 'Within the Next Few Years' After Launching $73,000 Premium Car Δ1.73

Xiaomi plans to expand its electric vehicle (EV) business beyond China's borders within the next few years, according to company President William Lu, who made the announcement at a product launch event in Barcelona. The Chinese tech giant's first luxury EV model, the SU7 Ultra, has already garnered significant interest with 15,000 orders in just 24 hours. As Xiaomi looks to challenge Tesla and other players in the global EV market, it must navigate complex regulatory environments and ensure the quality of its vehicles.

Xpeng Shares Jump on Plans to Make Flying Cars, Humanoid Robots Δ1.73

Xpeng Inc. shares rose after the company’s chairman said it plans to start mass production of its flying car model and industrial robots by 2026. The company's ambitions for autonomous vehicles are expected to significantly boost revenue in the coming years. Xpeng's innovative projects have garnered widespread attention from investors and experts alike, sparking interest in the potential impact on the automotive industry.

Tesla's Leadership Crisis Drives Global Sales Slump Δ1.72

Tesla faces a global sales slump, with shares down for the seventh consecutive week, raising questions about Elon Musk's leadership style. The company's poor performance has sparked concerns that Musk's erratic behavior is impacting Tesla at retail. As the electric vehicle market becomes increasingly saturated, Tesla must address its struggles to regain market share and investor confidence.

Tesla's Electric Vehicle Future: Divided by AI and Robotics Δ1.72

Tesla's stock rose 2% as Morgan Stanley analyst Adam Jonas predicted shares will rally to $430 due to the company's diversification into artificial intelligence and robotics. However, this growth comes at a time when Tesla's EV sales slumped, leaving investors wondering if CEO Elon Musk's involvement in politics is deterring buyers. The company's ability to navigate its transition from an automotive "pure play" to a highly diversified player will be crucial to its long-term success.

Zeekr Group Announces February 2025 Delivery Update Δ1.72

Zeekr Group reported a total of 31,277 vehicle deliveries across its two brands in February 2025, showcasing a significant increase in demand for its electric vehicles. The Zeekr brand alone saw an impressive 86.9% year-over-year growth, while the recent acquisition of Lynk & Co contributed to a 30.5% rise in its deliveries. This performance underscores Zeekr Group’s commitment to expanding its footprint in the premium new energy vehicle market.

Albertsons Appoints Insider to Top Role as CEO Vivek Sankaran to Retire Δ1.72

Albertsons has announced the retirement of CEO Vivek Sankaran, with Susan Morris, the current COO, set to take over the role on May 1. This leadership transition follows the supermarket chain's recent challenges, including a failed merger with Kroger, and marks a strategic shift towards enhancing digital sales and retail media initiatives. As Morris steps into the CEO position, she will also be responsible for executing the company's "Customers for Life" strategy aimed at improving customer retention through loyalty programs and personalized experiences.

Business News Roundup Faces Financial Dilemmas, Regulatory Challenges, and Competitive Pressures Δ1.72

Consumer Reports has released its list of the 10 best new cars to buy in 2025, highlighting vehicles with strong road test scores and safety features. The announcement comes as Eli Lilly & Co. is expanding its distribution of weight-loss drug Zepbound at lower prices, while Target is scaling back its DEI efforts amidst declining store visits. Meanwhile, Costco's luxury goods segment continues to grow, and Apple has secured President Trump's backing for its new investment plan.

Tesla Reinstated as Top Pick; Analysts Predict 50% Upside Potential Δ1.72

Morgan Stanley has designated Tesla as its top automotive pick, projecting a price target of $430 that suggests a potential upside of over 50% for investors. The firm emphasizes Tesla's transition from traditional vehicle manufacturing to a broader focus on artificial intelligence and robotics, highlighting the substantial market growth opportunities in these sectors. Analysts believe that Tesla's innovations, particularly in humanoid robotics and energy solutions, position the company for significant long-term success despite projected declines in its Chinese market share.

Mercedes-Benz to Cut Headcount, Lower Pay Increases Amid Cost-Cutting Drive. Δ1.71

Mercedes-Benz has won agreement from its works council to offer buy-outs to staff and reduced planned salary increases by half, part of a wider cost-cutting drive as the carmaker battles to revive earnings. The company plans to reduce production costs by 10% by 2027 and double that by 2030, beyond an ongoing plan launched in 2020 to reduce costs by 20% between 2019 and 2025. This move reflects the growing pressure on the European auto industry to adapt to changing market conditions and technological advancements.

Tesla Sales Down in France, Scandinavia as Musk Faces Test of Brand Δ1.71

Tesla sales plunged in Scandinavia and France in February from a year ago, eroding its market share, as the electric vehicle maker faced a brand loyalty test amid CEO Elon Musk's role in U.S. President Donald Trump's administration. Tesla's market share in Norway, Sweden, and Denmark has declined this year due to increased competition from European rivals with newer model lineups. The company's aging vehicle lineup and Musk's divisive policies have also raised concerns about its ability to maintain its position as the people's car of choice.

The Luxury Automaker's Electric Dilemma Δ1.71

Aston Martin and Maserati are reevaluating their plans for future electrification models due to budget cuts and a cooling of demand in China. The luxury car industry continues to struggle with electrification, citing high prices and range anxiety as major concerns. Both brands have delayed or cut back on their electric vehicle (EV) launches, with Aston Martin's first EV model now expected to arrive in 2027, at the earliest.

Founder of Battery Startup Our Next Energy Returns as CEO Following New Funding Δ1.71

Mujeeb Ijaz has resumed his role as CEO of Our Next Energy (ONE) after a year-long hiatus, coinciding with the announcement of a new funding round led by Crescent Ventures and Trousdale Ventures. The company previously faced challenges in raising a Series C round, leading to significant layoffs and a leadership transition that saw Paul Humphries take over as CEO. With the fresh influx of capital and Ijaz back in charge, ONE aims to stabilize its operations and further develop its innovative dual-chemistry battery technology.

Tesla's AI and Robotics Efforts Get Top Pick Status From Morgan Stanley, Boosting Shares. Δ1.71

Tesla shares rose 2% on Monday after Morgan Stanley reinstated the electric-vehicle maker as its top U.S. auto pick, saying the company's artificial intelligence and robotics efforts could power growth even as the mainstay car business stumbles. The note dated Sunday was the latest from analyst Adam Jonas, a longtime Tesla bull who has praised the company's push beyond autos as sales face pressure from high U.S. borrowing costs and fierce Chinese competition. Industry data showed Tesla sales fell 45% in Europe in January while overall EV sales jumped 37% in the region.

BYD Pegs Tesla as an Ally in the Fight Against the Gas Engine as It's Ready to Share EV Technology Δ1.71

BYD is willing to share its electric vehicle (EV) and autonomous driving technologies with key rivals like Tesla, as long as that helps advance the self-driving electric vehicle cause. It started by giving away its Tesla FSD equivalent for free. BYD, which became the world's largest electric vehicle maker last quarter at the expense of Tesla, said that it is ready to share technology if that will help to advance the industry as a whole.

Stocks Making the Biggest Moves Pre-Market: Tesla, Southwest Airlines, Coinbase, Capri and More Δ1.71

Tesla's stock price is surging after a strong earnings report, with some analysts predicting that the company's electric vehicle sales will continue to drive growth. The company's focus on sustainable energy solutions has also been credited with its success in navigating the challenges of the rapidly changing automotive industry. As a result, investors are optimistic about Tesla's prospects for long-term growth.

Tesla's AI Stock Picks Under Pressure Amid Near-Term Headwinds Δ1.71

Tesla, Inc.'s (NASDAQ:TSLA) stock price target has been lowered by Baird, reflecting near-term headwinds in the automotive and energy sectors. The firm's analysts expect a decline in sales due to competition from established players and the company's focus on luxury products. Meanwhile, the AI-powered rally in Chinese equities could boost other markets as well, according to Goldman Sachs.

Develop AI Device Ecosystem with Google and Qualcomm Δ1.71

Honor is rebranding itself as an "AI device ecosystem company" and working on a new type of intelligent smartphone that will feature "purpose-built, human-centric AI designed to maximize human potential."The company's new CEO, James Li, announced the move at MWC 2025, calling on the smartphone industry to "co-create an open, value-sharing AI ecosystem that maximizes human potential, ultimately benefiting all mankind." Honor's Alpha plan consists of three steps, each catering to a different 'era' of AI, including developing a "super intelligent" smartphone, creating an AI ecosystem, and co-existing with carbon-based life and silicon-based intelligence.

Tesla Ups Regen Braking with New Model Y Juniper Refresh Δ1.71

The new Model Y Juniper refresh features a redesigned braking system that uses AI to control the brake pedal and maximize regen braking, resulting in improved efficiency and longer range on a charge. One of the key innovations is the use of FSD AI to control one master brake cylinder, allowing for smoother and more efficient deceleration when driving in Autopilot mode. The updated system also introduces new regen braking modes, including Reduced Deceleration, which adjusts how quickly the vehicle slows down when the accelerator pedal is released.

European Auto Stocks Jump on Trump Tariff Pause as Stellantis Pledges 'More American Cars' Δ1.71

European automakers experienced a surge in their stock prices following U.S. President Donald Trump's decision to suspend new tariffs on car imports from Canada and Mexico for one month. Stellantis, the parent company of Chrysler and Fiat, expressed its commitment to increasing American-made vehicle production in response to the tariff reprieve, aligning with the administration's "America First" policy. However, analysts warn that ongoing supply chain challenges and the potential for future tariffs could lead to increased costs for consumers and significant revenue loss for automakers.

Mercedes-Benz to Cut Headcount, Lower Pay Increases Amid Cost-Cutting Drive Δ1.71

Mercedes-Benz has won agreement from its works council to offer buy-outs to staff and reduced planned salary increases by half, as part of a wider cost-cutting drive aimed at reviving earnings. The company plans to reduce production costs by 10% by 2027 and double that by 2030, with redundancies ruled out for production workers. Management has agreed to extend a job security guarantee until the end of 2034.

Albertsons Appoints Insider to Top Role as CEO Vivek Sankaran to Retire. Δ1.70

Albertsons has appointed Susan Morris, its chief operations officer since 2018, to take over the top role following the retirement of CEO Vivek Sankaran. The move aims to shift focus towards building digital sales and retail media business, a strategy that aligns with Morris's background in driving operational efficiency. As part of her new role, Morris will also oversee the execution of "Customers for Life" strategy, which seeks to retain customers through loyalty offerings and personalized digital experience.