Latest news with #Automaker
Fast Company
6 days ago
- Business
- Fast Company
Kering bets on Renault boss Luca de Meo to revive Gucci
Francois-Henri Pinault, the billionaire heir who has headed up the French fashion house Kering Group for the past 20 years, has picked the CEO of automaker Renault to be his successor. The stock market's reaction? That's gucci. Shares of Kering jumped Monday after reports trickled out beginning Sunday that Kering planned to tap Luca de Meo as its new CEO. The stock closed 13.5% higher. The Paris-based company confirmed the news in a statement on Monday, indicating that de Meo will take the helm of the struggling fashion house as it 'enters a new phase of development.' Pinault will stay on as chairman of the board of directors after de Meo takes the helm in September. Pinault said in the statement that he first met de Meo a couple years ago when he 'launched a reflection on the evolution' of the company's governance. 'His experience at the helm of an international listed group, his sharp understanding of brands, and his sense of a strong and respectful corporate culture convinced me that he is the leader I was looking for to bring a new vision and steer this chapter in our Group's history.' The big jump in Kering shares suggests investors are at least hopeful about Kering's future, and Bernstein analysts noted that brand management and marketing are de Meo's forte, as reported by CNBC. Kering shares have fallen more than 72% in the past four years as the company has struggled to convince customers—and investors—of its appeal. Gucci's Struggles Much of Kering's problem rests with Gucci, the group's biggest brand by far, accounting for 44% of revenue in 2024. Gucci has been dragging down the rest of the company: In the first quarter, Gucci's sales fell 25%, while Kering's fell 14%. Gucci has fallen out of fashion among consumers, and particularly in China and the broader Asia-Pacific region. The brand closed two stores in Shanghai earlier this year, while other brands have gained traction among consumers there—and elsewhere. Attempts to breathe some new life into the brand—such as the March announcement of Demna as Gucci's new creative director following a decade-long stint at Balenciaga—didn't assuage investors. And consumers looking for a handbag that's nostalgic to Gucci's golden years might find a more attractive option with an independent collection of handbags by Alexandra Gucci Zarini, an heir to the Gucci family, While de Meo had a successful tenure at Renault—during which time the stock jumped nearly 90%—he faces a difficult road in his new role. 'De Meo has a titanic challenge ahead of him,' Luca Solca, analyst at Bernstein, told The Wall Street Journal.
CTV News
13-06-2025
- Automotive
- CTV News
Tesla upgrades its Model S and X cars in U.S., raises prices by $5,000
Tesla said on Thursday it upgraded its Model S and Model X cars in the U.S. and raised their prices by $5,000, according to the electric vehicle maker's post on X and its website. Prices were hiked for all configurations of the two models by $5,000, Tesla's website showed. The all-wheel drive version of Model X costs $89,990, while its plaid variant is priced at $104,990. The model S all-wheel drive now costs $84,990 and its plaid variant is $99,990. Model S & X are now even better – launching today in the US 🇺🇸 Highlights: – Frost Blue paint color – Up to 410 miles of range (Model S Long Range – our longest range Tesla yet) – Even quieter inside: less wind + road noise & more effective Active Noise Cancellation – New… — Tesla (@Tesla) June 13, 2025 (Reporting by Devika Nair in Bengaluru)
Yahoo
11-06-2025
- Automotive
- Yahoo
Here's Why Toyota's Cheapest Car Is Still A Smart Buy
Here's Why Toyota's Cheapest Car Is Still A Smart Buy originally appeared on Autoblog. Toyota has its fair share of models that cost well over $50,000, from the three-row Sequoia to the Tundra pickup and GR Supra sports car. But, the automaker has not forgotten its roots as the ideal car for the everyday commuter who prioritizes good value above all else. For them, Toyota remains one of the go-to automakers in America, but what is the cheapest new Toyota car you can buy, and how does it compare to its chief rival from Honda? View the 2 images of this gallery on the original article For only $22,325, the base Toyota Corolla LE sedan is the most affordable model sold by the brand in the United States. That price excludes any optional extras and the destination charge. Not only is it the cheapest Toyota, but it's one of the most affordable new cars in America, too. The Corolla LE comfortably undercuts its main rival on price, that being the Honda Civic Sedan, which starts at $24,250. You'll also pay less for a Corolla sedan than a Corolla hatch, with the latter beginning at $23,780. Let's take a closer look at what the Corolla LE gets you for your money. The current Corolla sedan isn't as bland as previous iterations of the sedan. In particular, the front fascia is quite aggressive by Corolla standards, featuring wraparound headlight clusters and a substantial opening below the grille. All that being said, Toyota's cheapest car can't conceal its bargain price. It rides on exceedingly plain 16-inch steel wheels with covers, although alloys are available as part of a package. In standard white, it gives off an unavoidable rental car vibe, but at least you can upgrade to some more interesting colors for no charge, such as Blueprint. The only noteworthy standard exterior features are LED headlights and taillights. Then again, much the same is true of its Honda rival. View the 2 images of this gallery on the original article Inside, the Corolla LE comes with standard cloth seats in a choice of Light Gray, black, or Macadamia/Mocha. Honda limits the base Civic to an all-black interior, so at least the Corolla has a bit more variety here. Traditional analog gauges are fitted, but at least there are no legibility concerns. In the LE, the infotainment setup includes an eight-inch touchscreen, six speakers, and wireless Apple CarPlay and Android Auto, so all the basics are covered. Toyota also includes four USB-C ports (two in front and two at the back), automatic single-zone climate control, and a 60/40 split-folding back seat. Toyota's Safety Sense 3.0 suite is smartly included as standard, and includes: Pre-collsion system with pedestrian detection Lane departure alert Automatic high beams Road sign assist Full-speed range dynamic radar cruise control Proactive driving assistance Blind-spot monitoring and cross-traffic alert are optionally available. The base Corolla has more USB ports, a slightly larger touchscreen, and two extra speakers when compared to the pricier Civic. The Civic's main advantage is a more accommodating back seat. Overall, the Corolla LE's interior lacks some desirable items and nicer finishes, but there are no glaring omissions when one considers the car's low price. Besides, you can always upgrade to one of the Corolla's many better-equipped trims. All non-hybrid Corollas use a 2.0-liter naturally-aspirated four-cylinder engine producing 169 horsepower and 151 lb-ft of torque. A CVT sends what limited power there is to the front wheels, and customers should be prepared to deal with some undesirable acoustics from the four-pot, together with languid acceleration. The Civic isn't any better in this regard (150 hp), so we suggest the base 191-hp Mazda 3 sedan for anyone in need of better performance; this also happens to be the cheapest Mazda on sale. On a more positive note, the cheapest new Toyota is highly efficient, returning 32/41/35 mpg city/highway/combined. It also rides comfortably and handles proficiently, but the Civic and Mazda 3 are both more involving to drive. It's hard to beat the base Corolla for sheer reliability and low running costs, but the underpowered engine and CVT transmission combination is perhaps the clearest sign that this is a budget car. For just a bit more than the Corolla LE sedan, here are two other cheap Toyota cars worth considering. Much of what we've covered about the base Corolla Sedan also applies to the cheapest Corolla Hatchback, which starts at $23,780. However, the hatchback gets a sportier base trim called the SE, which comes with 16-inch alloy wheels, a color-keyed rear spoiler, and a leather-trimmed steering wheel. It sticks with the 169-hp engine, but has a much more youthful look and feel. Also Toyota's cheapest SUV, the base Corolla Cross L starts at just above $24k. It has the same 169-hp engine and a comparable specification to the Corolla LE. Being a crossover does mean a bigger back seat and a larger (24 cubic feet) trunk, though, which are the main reasons to choose this cheap Toyota instead. Here's Why Toyota's Cheapest Car Is Still A Smart Buy first appeared on Autoblog on Jun 10, 2025 This story was originally reported by Autoblog on Jun 10, 2025, where it first appeared.
Yahoo
09-06-2025
- Business
- Yahoo
Quantum Computing (NasdaqCM:QUBT) Names Dr. Yuping Huang As Interim CEO
Quantum Computing is experiencing notable changes with the upcoming retirement of CEO Dr. William McGann and the appointment of Dr. Yuping Huang as interim CEO. The company recently secured a subcontract with NASA and sold its EmuCore reservoir computer to a major automaker. These events could have bolstered investor confidence, as evidenced by the 36% rise in Quantum Computing's stock over the last month. This positive movement contrasts with the broader market, where major indexes like the S&P 500 and Nasdaq saw mixed performances in anticipation of US-China trade talks and tariff discussions. You should learn about the 5 weaknesses we've spotted with Quantum Computing (including 2 which are significant). We've found 19 US stocks that are forecast to pay a dividend yield of over 6% next year. See the full list for free. Over the past year, Quantum Computing Inc. (QUBT) has achieved a remarkable total return of over 1000%, a very large contrast to the 15.2% return seen in the US Software industry and the 8.2% return of the broader US market. This substantial rise in share value underscores a significant investor interest, influenced by recent executive changes and high-profile contracts such as those with NASA and an automaker. These developments potentially enhance future revenue generation, suggesting a possible positive shift in earnings forecasts, despite the company's current unprofitability. However, the enduring challenge remains, as it is not anticipated to become profitable over the next three years. The recent surge in share price has brought it closer to analysts' consensus price target of US$8.50. Interestingly, the current market valuation presents QUBT at a slight discount to this target, implying that there may still be perceived upside potential by some investors. Nevertheless, the company's financial burdens, like growing losses and Nasdaq compliance issues, continue to weigh heavily on its outlook, requiring careful scrutiny for those considering this volatile yet promising sector. Navigate through the intricacies of Quantum Computing with our comprehensive balance sheet health report here. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include NasdaqCM:QUBT. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
TechCrunch
06-06-2025
- Automotive
- TechCrunch
TechCrunch Mobility: How Jony Ive's LoveFrom helped Rivian and what Uber's next-generation playbook looks like
Welcome back to TechCrunch Mobility — your central hub for news and insights on the future of transportation. Sign up here for free — just click TechCrunch Mobility! I've spent a decade covering Tesla and CEO Elon Musk, so it would be natural for me to weigh in here about the billionaire's public fallout with President Donald Trump. Plenty of other reporters, armchair analysts, influencers, and bloggers have already done that. Some of it is smart, while some of it misses the mark — by miles. Since I have the benefit of institutional knowledge, and a helluva good memory, let me offer some brief reminders and predictions. We've been here before — Musk has a long, well-documented history of creating seemingly strong alliances and then burning it all down. As senior reporter Tim De Chant noted, Elon is getting an introduction to politics. The problem here is that Musk also embraces risk and gravitas — which means that learning something doesn't equate to his behavior changing. Expect a roller-coaster ride of tentative peace followed by public outbursts. Rinse. Repeat. The implications of this fallout promise to be broad and will likely touch all of Musk's various enterprises. I will be monitoring how Tesla EV sales numbers fare and how the 'Big, Beautiful Bill' will actually affect the automaker's business if it is passed into law. In the short term, I will be focused on Tesla's great robotaxi experiment in Austin, Texas, and how Musk's complicated and increasingly toxic relationship with the Trump administration affects his dealings with the Department of Transportation. Prior to his public breakup with Trump, Musk was lobbying lawmakers on legislation related to autonomous vehicles — specifically over a bill introduced on May 15 called the Autonomous Vehicle Acceleration Act. A little bird Image Credits:Bryce Durbin Ever since Rivian spun out Also, a micromobility startup that also received backing from Eclipse Ventures, we've been poking around to find out more. A few little birds have been in touch and helped us better understand how the skunkworks program turned into a stand-alone company; they also revealed a surprising detail: Jony Ive's creative firm LoveFrom worked alongside Rivian's design team and the staff under the skunkworks program. Senior reporter Sean O'Kane and I have the full scoop here. Techcrunch event Save $200+ on your TechCrunch All Stage pass Build smarter. Scale faster. Connect deeper. Join visionaries from Precursor Ventures, NEA, Index Ventures, Underscore VC, and beyond for a day packed with strategies, workshops, and meaningful connections. Save $200+ on your TechCrunch All Stage pass Build smarter. Scale faster. Connect deeper. Join visionaries from Precursor Ventures, NEA, Index Ventures, Underscore VC, and beyond for a day packed with strategies, workshops, and meaningful connections. Boston, MA | REGISTER NOW Got a tip for us? Email Kirsten Korosec at or my Signal at kkorosec.07, Sean O'Kane at or Rebecca Bellan at Or check out these instructions to learn how to contact us via encrypted messaging apps or SecureDrop. Deals! Image Credits:Bryce Durbin Memorandums of understanding rarely grab my attention. But this one did. Joby Aviation and Saudi Arabian conglomerate Abdul Latif Jameel signed a memorandum of understanding to explore a distribution agreement for up to 200 electric aircraft. The tentative deal is notable because Abdul Latif Jameel is already an investor of Joby. If finalized, the partnership could provide Joby with a fast path to monetizing its electric vertical takeoff and landing vehicles in Saudi Arabia. Turning an investor into a customer can complicate the relationship, too (just ask Amazon and Rivian.) Other deals worth noting … Obvio, a California-based startup that is combining AI with cameras placed at stop signs to root out unsafe driving behavior, raised $22 million in a Series A funding round led by Bain Capital Ventures. Obvio plans to use those funds to expand beyond the first five cities where it's currently operating in Maryland. Portless, an e-commerce fulfillment and logistics startup, raised $18 million in a funding round led by Commerce Ventures, with participation from eGateway Capital, Ground Up Ventures, and FJ Labs. Portless uses a Shein-like business model and charges brands duties after an item sells, helping defer the cost of tariffs. Toma, an AI voice startup that is applying its tools to car dealerships, raised $17 million across a seed and Series A round led by a16z. Y Combinator (Toma was in YC's January 2024 cohort), the Scale Angels Fund, and auto industry influencer Yossi Levi, also known as the Car Dealership Guy, have backed the startup. What Uber's executive shuffling is telling us Recent executive shuffling coupled with comments by Uber CEO Dara Khosrowshahi don't just hint at the company's strategy. Nope, this is like a neon blinking sign and the word 'autonomy' is at the center. Earlier this week, Uber announced it had appointed Andrew 'Mac' Macdonald as president and chief operating officer. The company also announced the departure of Pierre-Dimitri Gore-Coty, who ran Uber's delivery business. Gore-Coty's responsibilities will slot under Macdonald, who has been with the company since 2012 and most recently led the mobility and business operations. Another tidbit worth mentioning: He launched Uber's Toronto operations 13 years ago and spearheaded its autonomous strategy. Mac's new role will combine mobility, delivery, and autonomy. At a Bloomberg conference, Khosrowshahi was asked about AVs. He talked about building the AV ecosystem and Uber's stakes in companies (Aurora and Waabi) developing autonomous vehicle technology. 'We want to essentially support the AV ecosystem and continue to help that ecosystem develop and then AVs penetrate into the marketplace,' he said. 'AVs, we think, represent a safer way of transportation. Ultimately, we think it'll expand the marketplace as it makes kind of safe transportation cities available to everybody.' In other Uber news, the company has added a new type of account with a simpler UI for older people. Notable reads and other tidbits Image Credits:Bryce Durbin Autonomous vehicles Tesla filed trademark applications for the term 'Tesla Robotaxi' after the company's previous attempts to secure trademarks for its planned self-driving vehicle service hit roadblocks. Electric vehicles, batteries, & charging I missed this story from Axios reporter Katie Fehrenbacher and wanted to mention it here. Last year, Redwood Materials quietly walked away from the Department of Energy (DOE) loan it had received conditional approval for. To date, Redwood has never received any federal funding. I reached out to Redwood to understand why. Redwood initially applied for a DOE loan in 2021. The process dragged on and at considerable cost to Redwood. Companies that go through this process are responsible for paying the third-party consultants and experts hired to vet the business and technology. By 2024, Redwood was still on the conditional approval limbo. While it was waiting, the company raised more than $2 billion in private funding and generated nearly $200 million in revenue last year. Ultimately, Redwood determined that the costs and constraints of this loan outweighed its value. Future of flight Walmart and Alphabet's Wing are bringing drone delivery to thousands more customers. Wing, which already operates out of 18 Walmart Supercenters in the Dallas-Forth Worth area, is setting up shop in five more U.S. cities through the partnership. In all, more than 100 stores will be added in Atlanta, Charlotte, Houston, Orlando, and Tampa. People Trevor Milton, the recently pardoned founder of Nikola, has been fighting a subpoena from the creditors of his bankrupt electric trucking company. Milton owed Nikola nearly $100 million before it filed for bankruptcy in February, which followed an arbitration case with the company in 2023 related to his criminal conviction that he lost.
