With a substantial number of new electric vehicles in the works, General Motor's first chief sustainability officer says automakers are hoping consumers embrace the new technology in the same way early drivers switched from horses and buggies to motorized vehicles.
Dane Parker noted that the first cars were more convenient, quieter, and "better in every other way" than the old way of getting around. He expects those benefits to also drive people today to eco-friendly vehicles.
"I think we're going to see the same with electric vehicles as we enter this 100-year period," Dane Parker, said.
Although, as GM just announced its new all-electric Hummer, the company may hope adoption comes sooner than that.
Parker's optimism rests, in part, on a conviction that electric vehicles outperform conventional ones.
"They will be desirable in all other types of ways," he said.
In order to convince drivers to try EVs, Parker said the vehicles will need to solve the three concerns most frequently cited by GM customers: cost, range, and charging locations.
"We're addressing all three of those and pretty aggressively, and we're optimistic in the near future none of those are going to be barriers," he said.
Parker's role as the chief sustainability officer includes engaging with employees as well as dealing with the nuts and bolts of the vehicles. "Ultimately we think every employee can make an impact in their own lives as well as what we do as a business."
"As we look to the next 10 years, I think we'll see aggressive adoption of electric vehicles as those barriers come down," he said.
Logitech posted better-than-expected earnings in its third quarter, reporting sales of $1.63 billion dollars, down 2% from the year ago quarter, but well ahead of the Wall Street consensus of $1.48 billion dollars. The PC and gaming peripherals company also raised its annual guidance for both sales and profitability. Bracken Darrell, Logitech CEO, joined Cheddar to break down his reaction to the results, how the pandemic played a role in its growth, and where he wants to take the company next.
GM is scheduled to report its Q4 earnings after the bell on Tuesday February 1. Wall Street expects a miss as the automaker navigates the global chip shortage, which has hit car sales hard. Investors are looking for an update on production, as well as outlook for the electric vehicles that GM is investing billions to bring to market. Karl Brauer, executive analyst at iseecars.com, joined Cheddar to give a preview of the automaker's report.
Recent data reveals that streaming giants are struggling to retain subscribers in the months following a major release.
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Stocks opening mostly higher to close out a wild week on Wall Street. It comes as investors continue to digest comments from the Federal Reserve, as well as the latest slew of earnings. Gene Goldman, Chief Investment Officer at Cetera, joined Cheddar's Opening Bell to discuss.
Democratic lawmakers are now calling on Bitcoin mining companies in the U.S. to assess how much electricity they use and how it could all potentially impact residents and the environment in the near future. Since its conception, crypto mining has been at the center of a debate. The question is: Is crypto mining playing a key role in renewable energy or could it totally derail U.S. climate goals? Host of The Wendy O show Wendy O, joined Cheddar to discuss more.
