Lotus CEO Warns Solid-State Batteries Still up to a Decade From Mass Production
Lotus chief executive Qingfeng Feng warned that solid‑state batteries could be a decade away from mass production, despite industry hype. He highlighted Geely’s lead in R&D but stressed unresolved performance trade‑offs. The comments were made at the FT Future of the Car summit, underscoring the gap between laboratory breakthroughs and scalable manufacturing. This cautionary note tempers expectations for an imminent EV battery revolution.
FedEx CEO Brushes Off Amazon's New Logistics Service that Recently Sent Shares Tumbling
Amazon unveiled Amazon Supply Chain Services, a 3PL platform for businesses outside its marketplace, prompting a sharp 9% drop in FedEx shares that later recovered about half. FedEx CEO Raj Subramaniam told CNBC the new service is fundamentally different from...
Used Car Prices Fall for First Time This Year as Gas Prices Spike, EV Interest Rises
Used‑car prices slipped 1.6% in April, marking the first monthly decline since October, as gasoline surged to $4.56 a gallon amid the Iran conflict. Cox Automotive’s Manheim Used Vehicle Value Index remains 1.8% higher than a year ago, but the...
UK Government Plans to Allow Airlines to Consolidate Flights as Jet Fuel Costs Soar
The UK government announced a temporary measure that lets airlines combine multiple daily flights into fewer services to avoid operating near‑empty planes as jet fuel prices surge to $179 per barrel. The policy also permits carriers to give back take‑off...
Airfare Amid Iran War: Buy Now or Wait Out the Conflict? Experts Weigh the Risks
Airfare has surged amid the Iran‑Israel conflict, with domestic round‑trip fares rising 8% to $361 and international fares jumping 42% to $1,097 as of April 20. Jet‑fuel costs have climbed about 82% to $4.56 per gallon, forcing airlines to pass higher...
Carvana Stock Pops as Used Car Retailer Reports Record First-Quarter Results
Carvana reported record first‑quarter results, beating Wall Street expectations with earnings per share of $1.69 and revenue of $6.43 billion. Retail sales surged 40% year‑over‑year to 187,393 units, while adjusted EBITDA reached $672 million and net income rose to $405 million. The strong...
UPS Beats Wall Street Estimates on Top and Bottom Lines
United Parcel Service posted first‑quarter 2026 results that topped Wall Street forecasts, delivering adjusted earnings per share of $1.07 versus the $1.02 consensus and revenue of $21.2 billion against the $20.99 billion estimate. Net income fell to $864 million from $1.19 billion a year...
Amazon Adding Heavy-Duty EV Trucks From Einride as It Spreads Bets on Freight Decarbonization
Amazon Relay is integrating 75 manually operated electric heavy‑duty trucks from Sweden’s Einride, expanding the retailer’s middle‑mile freight network. The trucks are expected to travel up to three million electric miles each year, powered by zero‑tailpipe emissions and managed with...
Chip Giants AMD, Qualcomm and Arm Back Driverless Car Startup Wayve with Fresh Funds
British autonomous‑driving startup Wayve secured an additional $60 million from chip makers AMD, Qualcomm and Arm, bringing the total of its recent funding round to $1.2 billion. The capital, while modest relative to the round, is strategic, giving Wayve access to a...
CNBC's UK Exchange Newsletter: Britain's Jet Fuel Crunch — and How We Got Here
Britain’s jet‑fuel supply chain is under strain as refinery capacity has slumped 41% since 2000, leaving only four plants to cover about 85% of refined‑product needs. The country now imports 3.1 times more kerosene than it produces, with roughly 60%...
Mercedes U.S. CEO Sets Ambitious Sales Goal Despite 'Tougher' Market than Anticipated
Mercedes‑Benz USA CEO Adam Chamberlain announced a $4 billion investment in the Alabama plant to lift production capacity as the company pursues a 28% increase in U.S. sales, aiming for 400,000 vehicles annually by 2030. Despite a tougher market marked by...
Nvidia Adds Hyundai, BYD and Other Automakers to Self-Driving Tech Business
Nvidia announced new partnerships with Hyundai, Nissan, Isuzu, BYD and Geely to integrate its Drive Hyperion autonomous‑vehicle platform. The deal expands Nvidia's reach into Level 4 robotaxi‑ready systems, complementing existing customers such as Waymo, Aurora and Lucid. Nvidia frames the move...
Stellantis Taps Toyota, Bosch Suppliers for Hybrid Technologies for New Jeeps
Stellantis is launching its first North‑American Jeep hybrid, the 2026 Cherokee, powered by a Toyota‑backed Blue Nexus two‑motor e‑CVT system. The company will also equip its upcoming Grand Wagoneer and Ram pickups with Bosch’s extended‑range electric (EREV) technology. Both hybrids...