taiwanese iphone maker and tech super power foxconn today revealed three new ev prototypes an suv, afoxconn's recent purchase of a lordstown, ohio factory is pushing it deeper into the u.s. ev race, general motors already thrown the first punch with its ambitious plan and promise to double revenue by 2030, by releasing 30 new ev models to market by 2025. gm shares are moving lower right now, but have spiked 8.5% this month alone. joining us now on a fox business exclusive is general motors ceo and the newly named head of the business round table mary bara and mary, congratulations on heading up the business round table. i don't know when you'll sleep, but that's amazing. >> well thank you very much. i'm really honored to have the opportunity especially following in footsteps whose done a phenomenonal job through an incredible period of time. liz: your time there is going to be just as incredible because there's so many issues that are facing corporate america, i'll get to that in a second but you and gm, have gotta talk specifically about what's going on in the ev world. you've made

reporter: new designs for electric vehicles and from a place he wouldn't expect, foxconn, the taiwaneseiant that makes components for apple, and now looking to branch away from the electronic assembly and work with manufacturers to get its concepts on the road. >> in several parts of the world, we will cooperate with partners that design cars based on the same chassis to produce locally, as we are using the same chassis design, we could reduce the time spent on designing and lower costs. reporter: foxconn dropped over 300 million euros into developing electric vehicles last year, an investment it will increase over the next two years as much of the world's automotiveector seeks cleaner cars, in the tech that goes th them. the company called as fiat-chrler, said it would construct a new battery-making plant. ford said it was spending 373 million euros on converting a site i in the u.k. for electronc auto production. and the largest car maker unveiled a new france to put nearly 3 billion eur into u.s.-based factory lines for vehicles. >> now, one production line can lead the demand for ne

foxconn, there is a lot of speculation about apple and its ambitions with regards to a car.e of other movers, this is the mna space. zoom and five9 were supposed to combine and immediately met a lot of resistance from regulators because of concerns about ties to china. whether those were justified or not, what killed the deal was a drop in zoom share prices. tom: what is five9? romaine: it is like a call center, but like modern. it was going to be a big company, but shareholders basically rejected it. this is largely because this was an all stock transaction and the stock is down 26%. tom: what about draftkings? romaine: there are a ton of pending deals, all stock deals, and people are concerned given the drawdown in the market, some deals could be under pressure. draftkings has two deals that are cash and stock combined. drop in a lot of the shares. keep in mind, something like 70% of the members in the russell 1000 were in the red and the most recent quarter. $597 billion worth of deals pending. tom: romaine bostick, "the close." jane foley is known for writing british par

there was the foxconn deal in wisconsin and that fell apart.hey said the government were not doing their part and wisconsin said foxconn was not doing their part. but we gave incentives, but it made people angry. but people forget, those employees on the payroll, they spend money, they pay federal and local income taxes. they pay sales tax. they stimulate the local economy. they buy goods, services. the spinoff industries are tremendous. and i do not understand why people do not see that, it fuels the economy if you give a company a break. i wonder in your view what's the biggest hindrance right now in -- now? i'm scared that these companies are going to go to ireland, or the caribbean or canada. guest: he said it better than i could. that is exactly right. we believe that americans can outcompete anyone in the world, that is how we became the strongest economy in the world, the world's superpower, because of the ingenuity of the american system and of the american people. but what happens with these tax policies, where we operate at a disadvan

the largest assembler of iphones, foxconn has revealed its first electric car.his is a milestone that could boost the companies credentials as a serious bidder for apple secretive car project. it's a concept they plan to bill rather than sell under its own brand. coming up, home security is getting higher tech. we will talk about that with a ceo, next. this is bloomberg. ♪ emily: connected on -- connected home technology is getting in higher and higher tech. drones for your home, that's one of the new ring products recently unveiled along with the home robot. but as the home and the world really ready for all of this? we'll talk more about this with the ring founder and ceo. great to have you with us. the always on home karma that flies through your home even when you are not there, talk about the motivation for that. is this something consumers really want and need? >> i think what they really want and need is the reason why we built it. there are times when you want to see everywhere in your home at every angle. you probably don't want to have an indoor camera

. ♪ ♪ >> with first word news, foxconn has unveiled its first electric vehicle today.is a milestone that could boost the taiwanese electronics credentials as a serious bidder for apple's secretive automotive project. it is the largest producer of iphones. china is considering asking media companies from tencent to bytedance to let rivals access and display their content in search results. bloomberg has learned china is considering the policy, which would be a big step in beijing's campaign to break down barriers among the countries internet giants. key legislation in the fight against climate change might not get the final swing vote it needs to survive. west virginia senator joe manchin has told the white house and congressional leaders that he will not support including a clean power provision in the democrat spending package. it would pay utilities for using clean energy and penalize those who do not. in the u, demand is out placing -- outpacing supply when it comes to london luxury housing. it is the fastest pace of growth in a decade and has now returned to pre-pa

foxconn has unveiled its first electric vehicle today, a milestone that can boost the taiwanese manufacturing'sdentials as a better for apple's secretive automotive project. it is an edge -- it has an edge as the company ways expanding into vehicle. china is considering asking media companies from tencent to bytedance to let rivals access displayed content in their results. newburgh has learned china is considering the policy, which could be a big step in beijing's campaign to break down barriers among the companies. tech companies have already been warned to open their so-called walled gardens by allowing links to rival services. a big milestone for taiwan in its fight against the pandemic. the country has reported their own local and imported cases of coronavirus cases today -- reported zero local and imported cases of coronavirus today. key legislation to fight climate change may not get the final swing but it needs to survive. west virginia democratic senator joe manchin has told the white house and congressional leaders that he will not support including a key clean power provision in the

general motors closed up shop in lourdestown, another company bought the plant and foxconn, fresh offe eighth wonder of the world will take over the lordstown location. donald trump promised manufacturing jobs in indiana, wisconsin and ohio that failed to materialize. but there's a path toward renewing american manufacturing and it's through the green economy. we have a lot of things to build for the clean energy transition. democrats have been promising it for years and it's actually coming true. ford, perhaps, i think spurred by the biden climate agenda the understanding that the government is getting serious about cutting emissions, recently announced four new plants and factories in kentucky and tennessee that are projected to create 11,000 new jobs. it's the companies biggest one-time manufacturing investment ever. it's the biggest one-time manufacturing investment in its history. biden visited the ford factory earlier this year in deerborn, michigan. to test drive the f-150 electric truck. >> mr. president! >> this sucker is quick. >> mr. president, how fast were you going? >> o

hazards for lordstown the ev truck maker down after they called lordstown a $2 stock saying it's fox foxconneement and ultimately do nothing for shareholders and investors he did not warning, is down 12% on the flipside the faithful breaking out in a big room today shares surging after the specialist was issued a patent for the smile concept which helps to deliver dental related care to customers in remote areas the stock is up more than 15%, under armor showing its strength today shares or higher after they initiated coverage of the leisure where maker and outperform 26-dollar price tag and under armor hired and as you can see it is higher by almost 2% lululemon, big fan during this pandemic, i speak for myself i was up almost 2%. is this actionable lower, wedbush calling this one of the best performer in its sector and the other stocks are moving higher, gap a little red we will take that, a little bit of a red, bed bath and beyond, the lowest point in the year former mean stock bank of america with shares underperformed rating, the bears move coming on disappointing second-quarter earning

the company just last week at an equal weight the concern here is the plant sale they just named foxconne seller for this plant. they had obviously, but also the price of the plant a fifth of what the prior estimate had been so the disappointment there that this asset was not worth what the analysts had hoped, shows rideshare is down nearly 11% today, trading at $5.22. >>> so stocks are rallying after yesterday's sell-off, but the s&p is still down nearly 4% since the start of september it was the worst month since last march for the next guest this recent drop still isn't enough to put capital to work. let's welcome in barry knapp, the managing partner over at iron side knapp for economics. why is that 4,100 a magic number for you? >> it is 10% off the highs and if you look at every business cycle since world war ii and the last cycle in particular, what we find is when we reach the point the fed starts normalizing policy, we have reached escape velocity, you get what prior to the global financial crisis was about an 8% correction post-the global financial crisis when qe was involved, a

we just talk about the motors that sold their plant to foxconn. what do you think happens to the other startups, do they last five, ten years? >> look, the startups are normal when i see all of the big carmakers are so slow to react, an innovation that obviously makes a lot of sense, which is obviously part of this industry, and they see that, you know, not a lot of companies, established companies are jumping on the bandwagon, obviously it favors startups who say, okay, let me occupy this space. so i think a lot of the startups will prosper as long as they put their act together and they really operationally are able to offer what the consumer wants. so i'm very optimistic about some of the stocks around electric cars. >> carlos, thank you for spending your friday night in beirut, a little bit of it, with us here is the book i know you are out promoting right now, "broken alliances. carlos ghosn, thank you for joining us from beirut, lebanon. kelly, i will send it back to you. always interesting to hear what carlos has to say, especially to get h

let's look at foxconn technology group.s a news conference, or should i say, presentation, taking place as we speak in type -- in taipei. they are unveiling an electric vehicle. there is a serious bid up and it is being examined by apple. we have an sub model being introduced. let's have a look at some headlines making he is elsewhere. looking at the first word news with vonnie quinn in new york. vonnie: think you're a good morning. this deal is attracting scrutiny amid the evergrande crisis. the ministry of finance plans to raise $4 billion from the sale in hong kong on tuesday, the least since 2018. this issuance will be a four-part you comprising 3, 5, 10 and 30 year maturities. new zealand inflation jumped more than expected in the third quarter to the fastest pace in 10 years, reinforcing that the bank will keep raising interest rates. the inflation rate went to corporate &. the reserve bank six to keep it at a midpoint of 1% 3%. hong kong's primary listing market is going through a dry part in what is normally the eas

there was the foxconn deal in wisconsin and that fell apart. incentives, but it made people angry. but people forget, those employees spend money, they pay federal and local income taxes. they pay sales tax. they stimulate the local economy. they buy goods, services. the spinoff industries are tremendous. and i do not understand why people do not see that, it fuels the economy if you give a company a break. what's the biggest hindrance right now in your view? i'm scared that these companies are going to go to ireland, or the caribbean or canada. guest: he said it better than i could. we believe that americans can outcompete anybody in the world, that is how we became the strongest economy in the world, the world's superpower, because of the ingenuity of the american system and of the american people. but what happens with these tax policies, where we operate at a disadvantage to other companies and countries -- we fight with one hand tied behind her back. imagine what would happen if we unleashed the american businesses to compete on a level pl