Is Detroit still the auto capital of the U.S.? That is the question, as Silicon Valley-based companies such as Tesla and Google have ramped up the focus on electric and driverless vehicle technology.
But Scott Evans, Editor at Motor Trend, argues that Detroit automakers are staking their own claim on the region.
“Once they realized that software was going to be the future of automobiles, they all opened up R&D shops in Silicon Valley,” he said. “They’ve got all sorts of tech centers. They’ve got thousands of people employed out there, working closely with all the tech companies to figure out how they can get the latest tech into vehicles faster than ever before.”
Many major car manufacturers are showing off that hot new tech this week at the Detroit Auto Show. But one company is noticeably absent: Tesla. Evans says the electric automaker, known for its cash-intensive business model, would rather allocate its resources elsewhere.
“Rather than renting space at a major auto show like this, which can be pretty expensive, they’re going with stick to word-of-mouth,” he said. “Everyone knows Tesla. Tesla is in the news all the time, they don’t feel like they need to advertise much at all. You never see Tesla TV commercials because they’re a household name already.”
For full interview [click here](https://cheddar.com/videos/the-detroit-auto-show-revs-up).
In a clash of fast casual titans, Chipotle Mexican Grill is filing a lawsuit against Sweetgreen for trademark infringement. The salad purveyor recently released a meal offering called "Chipotle Chicken Burrito Bowl," which Chipotle said is being marketed in a "very similar" way as its own products and includes many of the same ingredients.
The number of Americans applying for unemployment benefits fell this week as the labor market continues to hold up in the face of the Federal Reserve aggressive campaign to cool the economy and bring down inflation.
Wall Street is drifting amid mixed trading Thursday, threatening to send the S&P 500 to its first losing week in the last four following some discouraging reports on the economy.
The upcoming trial in a voting machine company’s defamation lawsuit against Fox News for airing false allegations of vote fraud in the 2020 presidential election will not include testimony about the Jan. 6 uprising at the U.S. Capitol, a judge ruled Wednesday.
Ted Rossman, a senior industry analyst with Bankrate.com, joined Cheddar News to provide guidance on how to raise your credit score, especially for would-be homebuyers.
Chipotle filed a lawsuit in California federal court against Sweetgreen over the salad chain's chicken burrito bowl, claiming infringement for using the word "chipotle" in the name.
