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    Tesla’s Stock Jumps After Trump’s Victory

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    Investors believe that the electric car company led by Elon Musk will benefit from his support of the president-elect.Elon Musk defied conventional corporate wisdom by committing wholeheartedly to Donald J. Trump’s presidential campaign, donating tens of millions of dollars and running a get-out-the-vote drive.Now that bet has paid off, giving Mr. Musk a direct line to the White House that he may be able to use to bend policy in ways that could benefit Tesla, his electric car company. Mr. Trump has even bandied the idea of appointing Mr. Musk to head a “government efficiency” commission.One indication of how much Tesla could benefit was evident on Wall Street Wednesday morning, when the company’s share price jumped about 10 percent.It is too early to say how much of Mr. Musk’s newly acquired political capital he will allocate to Tesla as opposed to his other businesses like SpaceX, a major government contractor, or xAI, an artificial intelligence start-up.But investors clearly believe that a Trump administration will be good for Tesla, despite the president-elect’s often-expressed disdain for electric vehicles and renewable energy.Mr. Musk’s top priority is likely to be easing regulations on self-driving software that he has described as pivotal to Tesla’s future. That could include pressuring the National Highway Traffic Safety Administration to be less aggressive in scrutinizing the company’s technology. The safety agency is investigating whether a Tesla system that the company calls “full self-driving (supervised)” was responsible for four collisions, including one that killed a pedestrian.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Volkswagen Profit Shrinks as Unions Threaten Strike

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      Germany’s biggest automaker said its profit dropped 42 percent in the third quarter, as union leaders warned that workers were ready to walk out over a wage dispute.Volkswagen reported a 42 percent drop in quarterly profit on Wednesday, while emphasizing an “urgent need” to cut costs and gain efficiency in a challenging marketplace as it considers plant closures and layoffs in Germany.The automaker’s negotiator pointed to the company’s weak earnings ahead of his meeting with union leaders, who warned of imminent strikes if a solution to cut costs and restructure the brand was not found.The Volkswagen Group, which owns 10 brands, including Audi and Porsche, is Germany’s largest industrial employer, with 120,000 people working for its eponymous core brand. The country’s vision of itself as an economic powerhouse and automotive giant is also deeply intertwined with Volkswagen, and local economies across the country depend on the company and its well-paid workers.Representatives from the automaker and IG Metall, the union representing most of its workers, convened for a second round of wage negotiations on Wednesday in a conference room in the Volkswagen Arena, the stadium of the company’s professional soccer team, VfL Wolfsburg.Before the talks, Volkswagen reported that profit fell to 2.86 billion euros, or $3.1 billion, for the months of August to September, its lowest level in three years. The company is struggling against falling demand in China, the world’s largest car market, and high costs, especially in its homeland, Germany.“The situation is getting worse,” Arne Meiswinkel, the chief of personnel at Volkswagen, who is leading negotiations for the company, told reporters before the negotiations began.But union leaders insisted that a guarantee by the company that all 10 of its factories in Germany would remain open was a prerequisite for them to stay at the negotiating table. The union is prevented from staging any strikes until the end of November, but leaders said that they would begin preparing walkouts unless their demand was met.“We expect Volkswagen to declare its willingness to enter into negotiations with us on a viable future concept for all sites,” Thorsten Gröger, chief negotiator of IG Metall union, told reporters ahead of the talks.“Otherwise, I say quite clearly, we will have to plan the further escalation with our negotiating and bargaining committee,” he said.On Monday, the company’s top employee representative said that management had informed the works council that it was considering shutting down as many as three factories in Germany and laying off tens of thousands of workers. The closures would be the first in the 87-year history of the company and would be a further blow to Germany’s stagnant economy. More

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      ‘Hatred and Vitriol’ at the Trump Rally in New York

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      More from our inbox:What My Gut SaysThe Benefits of Electric CarsDonald Trump at Madison Square Garden.Kenny Holston/The New York TimesTo the Editor:Re “At the Garden, a Vivid Display of MAGA Fury” (front page, Oct. 29) and “The Pain of a Son’s Death, Worsened by Politics” (front page, Oct. 29):As I read these two articles, I wondered again where Trumpism has put its compassion. The first was about Donald Trump’s Madison Square Garden rally, which included unbelievable amounts of hatred and vitriol. The second told the story of the Springfield, Ohio, family who lost a son in a school bus accident involving a Haitian driver and has since faced heckling and threats for objecting to the politicization of the accident.I cannot vote for a party that voices that much hatred and talk of violence. Where is the compassion? Where is the love, mercy, justice, humility?Kent OlsonSioux Falls, S.D.To the Editor:Even eight years ago I would have been astonished if anybody at a Trump rally were to dispense the kind of raw racist hatred that was heard at Madison Square Garden, but I was not astonished this time. Donald Trump and his minions have put down the dog whistle and have picked up an industrial-strength bullhorn. Why? Because they know that it will resonate with a large section of the American population.We have to stop living in denial: The majority of Americans are not racist, but racism is not a fringe movement; it infects many millions. Mr. Trump would not be beating the drum so hard if this were not true.The disheartening hard truth is that whoever is in the White House, racism remains a national cancer. How can we battle it? I wish I had an answer, but I know this much: As a starting point, it is imperative that we acknowledge that the malignancy exists.David EnglishActon, Mass.To the Editor:What a coincidence. Sunday was also the 50th anniversary of the national day of solidarity with Puerto Rican independence, also held at Madison Square Garden, which drew nearly 20,000 people.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Michael Valentine, 74, Who Helped Drivers Stay Under the Radar, Dies

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      An engineer who loved to drive fast, he helped build an industry-altering device that made its debut after the national speed limit of 55 m.p.h. became law.Michael Valentine, an electrical engineer, loved to drive fast in his MGB sports car. But in 1974, after a national highway speed limit of 55 miles per hour was mandated as a fuel conservation measure, he believed that a “holy war” had begun: speed-seeking drivers against police officers trying to snare them with radar guns.“In a holy war, you can take either side and be right,” he told The Cincinnati Enquirer in 1981. “The problem,” he said, “is that police radar is an electronic device of fallible character in the hands of ordinary human beings.”Mr. Valentine, who didn’t believe that road safety was determined by finite speed limits, went into battle armed with the Escort, a radar detector that he built with Jim Jaeger, his college friend and business partner, for their company, Cincinnati Microwave.They met with early success. In 1979, a year after the Escort’s debut, Car and Driver magazine tested 12 radar detectors and ranked it the best, “by a landslide,” for its ability to pick up the signals of police radar equipment.The rave catapulted sales. In early 1981, Cincinnati Microwave had sold 50,000 Escorts, Mr. Valentine said.He never stopped upgrading the Escort, and, after parting ways with Mr. Jaeger in 1983, he designed two generations of detectors at his own company, Valentine Research.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Tesla Self-Driving System Will Be Investigated by Safety Agency

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      The National Highway Transportation Safety Administration said it was looking into what Elon Musk’s electric car company called the full self-driving system.Tesla’s plan to build fleets of self-driving cars suffered a setback on Friday when the main federal auto safety regulator said it was investigating whether the technology was to blame for four collisions, including one that killed a pedestrian.The regulator, the National Highway Transportation Safety Administration, said it was examining whether the software, which Tesla calls supervised full self-driving, had safeguards in place to require drivers to retake control of their cars in situations the autonomous technology could not handle on its own.As sales of Tesla’s electric cars have slowed, Elon Musk, the company’s chief executive, has staked the company’s future on software that allows cars to navigate, steer and brake without human supervision. Last week, the company held an event at the Warner Bros. studios near Los Angeles to unveil what it called a cybercab, which Mr. Musk promised would be able to ferry passengers without a human driver.But such software has faced persistent criticism from regulators and safety experts who say it does not do enough to make sure drivers remain alert and ready to take over if the system makes a mistake. Tesla faces numerous lawsuits from people who blame the software for injuries or deaths of loved ones.Tesla did not respond to a request for comment.The crashes highlighted by the safety agency on Friday took place when road visibility may have been limited by glare from the sun, fog or dust, the federal safety agency said. Tesla’s self-driving software depends on cameras to operate, unlike other manufacturers who also use radar or laser technology that are often better at detecting objects and people when the view is obscured by poor weather or bright sunshine.The agency said it would “examine the system’s potential failure to detect and disengage in specific situations where it cannot adequately operate.”In one of the collisions, a pedestrian died. In another, a person was injured, the agency said.The investigation covers 2.4 million Tesla vehicles, including cars manufactured as far back as 2016. All of Tesla’s passenger models are involved, the agency said, including the Model 3 and Model S sedans, the Model X and Model Y sport utility vehicles, and the Cybertruck.Federal officials have also been investigating a less capable Tesla system known as Autopilot for several years. These investigations may not survive if former President Donald J. Trump is elected next month. Mr. Trump has said he will appoint Mr. Musk, one of his most prominent supporters in the business world, to lead a “government efficiency commission.” More

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      Chinese Automakers Show Force at Paris Auto Show

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      Weeks after Europe imposed additional tariffs on electric vehicles made in China, the country’s car companies were defiant at France’s leading auto event.China’s ambitions to become a force in the European car market were on full display this week at the Paris Auto Show, where a record number of the country’s automakers unveiled cutting-edge electric models despite a recent European Union decision to impose anti-subsidy tariffs on their vehicles.At the event, designed to showcase Europe’s top automakers, the displays that drew some of the biggest crowds were those from the likes of BYD, Leapmotor and Xpeng, which boasted how the speed of their technological advances — including the use of artificial intelligence — would help them compete with, or even surpass, their European rivals in the electric vehicle revolution.Europe has an ambitious goal of fully transitioning to electric vehicles by 2035, and the continent’s biggest carmakers — among them Renault, Stellantis, BMW and Volkswagen — all put forward new models aimed at appealing to European consumers. But Beijing is also eager to get in on that game, with the nine Chinese automakers at the Paris show appearing undeterred by what they view as protectionist efforts to slow their advance.BYD, which made its European debut at the show two years ago, displayed seven models, which its officials said used electric and hybrid technology that surpassed that of its European rivals.At the BYD stand, a large-screen video displayed landmarks from around the world, from the Christ the Redeemer statue in Rio de Janeiro to the Arc de Triomphe in Paris. It was a visual reminder of the company’s ambition to make a Chinese car appealing to Western buyers.The BYD Yangwang U8 at the Paris Auto Show. BYD displayed seven models, which its officials said used electric and hybrid technology that surpassed that of its European rivals.Dmitry Kostyukov for The New York TimesWe are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Tesla’s Self-Driving ‘Robotaxi’ to Enter the Spotlight

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      Elon Musk has said that the vehicle will add trillions to Tesla’s stock market value and that those who don’t believe him should sell their shares.Tesla on Thursday plans to unveil a product that Elon Musk, the company’s chief executive, has said will add trillions of dollars to its stock market value and fuel its growth.The product is a prototype of a self-driving taxi. And it will be shown at an invitation-only, evening event at the Warner Bros. studio in Los Angeles. Mr. Musk has promised that the cab, which he calls the Robotaxi, will be able to ferry passengers to any destination without human intervention, a feat that other companies have achieved in just a few places like Phoenix and San Francisco.Mr. Musk’s supporters and fans believe that the Robotaxi will open a lucrative line of business that will more than make up for Tesla’s recent struggles in the electric car market, where it has lost market share to more established carmakers. Mr. Musk has said people will be able to purchase Robotaxis for personal use and earn extra money by allowing the vehicles to ferry passengers, the automotive equivalent of listing a home on Airbnb.“An autonomous taxi platform will unlock a multitrillion-dollar market,” Tasha Keeney, director of investment analysis at ARK Invest, an asset management firm that owns shares in Tesla, said in a statement.But other analysts and autonomous driving experts are skeptical that Tesla can perfect the technology and make a profit from it anytime soon.A car capable of functioning as a self-driving taxi “is still several years away, and numerous technological hurdles, safety tests and regulatory approvals are still standing in the way,” Garrett Nelson, senior equity analyst at CFRA Research, said in a note this week.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Harris, in Michigan, Tries to Head Off Trump’s Attacks Over Gas Cars

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      Vice President Kamala Harris on Friday sought to rebut a frequent argument from former President Donald J. Trump that she would mandate the end of gasoline-powered cars, issuing a rare direct response to her White House rival’s exaggerations and misleading claims.Speaking at a rally in Flint, a mid-Michigan city whose onetime cadre of thriving auto factories never recovered from closures in the 1980s, Ms. Harris tried to reassure voters in the state, who are being bombarded by Trump ads that claim she “wants to end all gas-powered cars.”“Michigan, let us be clear,” she said. “Contrary to what my opponent is suggesting, I will never tell you what kind of car you have to drive. But here’s what I will do. I will invest in communities like Flint.”The Harris campaign rally in Flint, Mich., on Friday. The vice president’s campaign has been pitching her as the candidate for the working and middle classes in the northern battleground states.Emily Elconin for The New York TimesThe politics of the nation’s slow march toward more electric vehicles have been tricky in Michigan, a battleground state that is home to the nation’s three major automakers. As the climate crisis has worsened, President Biden’s administration has required emissions standards that will most likely require about half of the new cars sold in the United States to emit zero emissions by 2032.To reach that goal, the Biden administration has offered incentives to manufacturers who produce electric vehicles and tax credits for consumers who buy them.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      More Than 400 Roads Closed in North Carolina After Damage From Helene

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      In addition to the power outages caused by Helene that have crippled the western part of North Carolina, swaths of roadways in the region were largely impassable on Saturday, prompting alerts from transportation officials that warned drivers to stay out of their vehicles.“The damage is so severe, we are telling drivers that unless it is an emergency, all roads in Western North Carolina should be considered closed,” Aaron Moody, a spokesman for the North Carolina Department of Transportation, said in an email.A photo released by the department showed a large section of roadway missing from a mountain pass.The department said that any civilian car on the road would hinder emergency responses. More than 400 roads were affected by the closure alert, including two major arteries for the region: Interstate 40 and Interstate 26, which Mr. Moody said were too damaged for cars to pass.Maria Whitehead, 51, was in Tennessee with her husband when Helene tore through Brevard, N.C., on Friday. Her two younger children were there, staying with Ms. Whitehead’s parents. After learning their children were safe, she and her husband embarked on a circuitous route on Saturday to find any way home.“We’ve studied the maps, we’ve got some local intel about a couple of routes that we can try tonight,” Ms. Whitehead said. “Otherwise, we’ll probably double back and stay with friends in Greenville, South Carolina, and try again tomorrow.”Landslides near Old Fort, N.C., about 20 miles east of Asheville, blocked off Interstate 40. A statement on Friday from the office of Gov. Roy Cooper said that people should shelter in place unless they were seeking higher ground.On Saturday night, the North Carolina Department of Transportation posted on X, with capitalization for emphasis: “We cannot say this enough: DO NOT TRAVEL IN OR TO WESTERN NORTH CAROLINA.” More