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).
On this episode of On the Job, Mark Bowen, General Manager at Midnight Sun in San Francisco, discusses how the pandemic affected LGBTQ+ nightlife and the return to work for service industry workers; Drew Lewis, VP Diversity, Equity, and Inclusion & Talent, ADP, breaks down how DE&I practices can drive greater business value and how organizations can effectively create an action plan for supporting DE&I in the workplace.
Drew Lewis, VP Diversity, Equity, and Inclusion & Talent, ADP, joins Cheddar to break down how DE&I practices can drive greater business value and how organizations can effectively create an action plan for supporting DE&I in the workplace.
Following a session in which investors saw gains across the major indexes, Wealth Consulting Group CEO Jimmy Lee says investors need to remember that midterm election years tend to be more volatile in general.
Stocks closed lower to end the last trading day of May, but the S&P 500 and the Dow Jones both rose over the past month. The Federal Reserve in early May raised interest rates by half a percentage point as it tries to fight inflation, but the question continues to linger: will we enter a recession as we try to tame inflation? Anthony Saccaro, Founder & President of Providence Financial, joins Closing Bell to discuss today's close, the possibility of a recession, where he is telling clients to look for opportunities, and more.
The semiconductor industry is at an inflection point as it tries to fully recover from the worst of pandemic-era headwinds. While Broadcom has announced it will buy cloud computing company VMware, Nvidia is lowering its current quarterly outlook. Meanwhile, TSMC and Intel are contemplating raising prices -- again -- thanks to higher materials costs. Where does the industry go from here? Ted Mortonson, technology strategist at Baird, joins Closing Bell to discuss.
