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).
President Donald Trump said he has decided to lower his combined tariff rates on imports of Chinese goods to 47% after talks with Chinese leader Xi Jinping on curbing fentanyl trafficking.
Universal Music Group and AI platform Udio have settled a copyright lawsuit and will collaborate on a new music creation and streaming platform. The companies announced on Wednesday that they reached a compensatory legal settlement and new licensing agreements. These agreements aim to provide more revenue opportunities for Universal's artists and songwriters. The rise of AI song generation tools like Udio has disrupted the music streaming industry, leading to accusations from record labels. This deal marks the first since Universal and others sued Udio and Suno last year. Financial terms of the settlement weren't disclosed.
Nvidia on Wednesday became the first public company to reach a market capitalization of $5 trillion. The ravenous appetite for the Silicon Valley company’s chips is the main reason that the company’s stock price has increased so rapidly since early 2023.
Chris Williamson, Chief Business Economist at S&P Global, breaks down September’s CPI print and inflation trends, explaining what it means for markets.