general motors ceo mary bara waving to us about to join us in a fox business exclusive. how long does she think it'll take before the semiconductor shortage is up and why she's not waiting to make any major changes she's jumping in and you think gasoline is high now what if we see the price at the pump, if oil goes to $200 a barrel. our floor show traders next, to react on the new report that has energy stocks pumping up. closing bell, we're 51 minutes away, dow is down 75 points we're coming right back. the "clayman countdown" don't miss it. ♪ ♪ there are beautiful ideas that remain in the dark. but with our new multi-cloud experience, you have the flexibility you need to unveil them to the world. ♪ (sfx: video game vehicle noises, to unvhorns beeping,) world. (engines revving, cars hitting one another.) (sfx: continued vehicle calamity.) just think, he'll be driving for real soon. every new chevy equinox comes standard with chevy safety assist, including automatic emergency braking. find new peace of mind. find new roads. chevrolet. ♪ ♪ ♪ ♪ ♪ ♪ deposit, plan and pay wi

give me a sense of general motors needs from the government.oposal being kicked around includes serious money for charging stations. do you need that for general motors to be a true leader in electric vehicles? >> we are investing in infrastructure but we think the federal government is gonna play an important part. we need to make sure that someone who only owns one vehicle, who may live somewhere where they do not have designated parking, to have access to reliable charging. that is going to enable them to buy an electric vehicle. we think it is a partnership between business and government to make sure we provide that infrastructure across the country. in addition, we want to make sure we see the revisions to the tax credit. currently, it penalizes first movers in the way it was originally constructed. >> so you do need help from the government? >> we think that is can accelerate ev adoption. we think that is an important part of accomplishing the president's goals from a climate change perspective and that will expedite the adoption of ev's

in 2021, tesla controlled 63% of the ev sales general motors is number three with 9%. they have a huge hill to climb to catch up with tesla i am told they think they can get there because they will have a broader portfolio and over time that will help them increase their sales and shares of general motors, i want to keep you posted on what happened with paul jacobson. he is coming right here to our camera we will be talking with him first on cnbc in about 45 minutes. we will ask more detailed questions. no doubt general motors is trying to leverage all of its investments in autonomous and ev vehicles they think they can use those vehicles for subscriptions, whether on a monthly basis or what they will pay for to run through the vehicles >> does general motors have the battery capacity, supply, if you will, to guarantee they can reach these goals? >> they say they will have it. they are building four plants. one in ohio, one in tennessee in 2023 two more announced, but they haven't told us the sites or when they will come online the real rampup will happen 2025 to 2028.

can general motors generate recurring monthly revenue through the software and services they plan tot in the electric and autonomous vehicles and it's a daunting task, but they can double their revenue. >> it will be a company along with a vehicle company. >> joe teranova has a question for you and it's related to ford competing with general motors in trucks joe? >> hey, phil, great job giving us the details here. the ford f-150 and how gm will respond with silverado do we have guidance on how that will be unveiled >> silverado e will be showed at the consumer electronics show on january 5th and when we actually see that in showrooms and when you can buy one, that remains to be seen. i wouldn't be surprised if they're showing it in ces in january that they plan to stop deliveries perhaps -- more likely you're looking at something in the 2022 range, but they realize they cannot just let the lightning go out there and not respond and they have big plans for silverado e and we'll see more of that from gm mark royce >> thank you so much a gm meeting today jon najarian, weiss sold general

that is the general motors chair and ceo.you so much. 1962 is the corvette that changed everything. the wedge tailed and decide postings. david: it was the year before the stingray. i like it because it is the last one and because of route 66. tom: it is like the romance one. david: yeah, for me. tom: did you tour this thing around? david: every weekend. it is a simple general motors car. i love it. tom: i was trying to channel my inner matt miller, did i do okay? david westin, thank you so much. lisa, what an interesting set up we have on tomorrow's tech earnings. lisa: that interview shows how high the bar is. they raised their forecast, shares down more than 3%. tom: and identifying some of the risks lowered on ev. stay with us through the day. the battle in washington will be addressed at 12:00. this is bloomberg. ♪ moving is a handful. no kidding! fortunately, xfinity makes moving easy. easy? -easy? switch your xfinity services to your new address online in about a minute. that was easy. i know, right? and even save with

. >>> we start with autos and the push to try to dominate the future of the industry general motors'eo mayor aye barra today said her company can catch tesla in u.s. sales by 2025 by having 30 ev vehicles on the market by that year. others setting ambitious goals, ford, niecean, honda and volvo tesla is still tops in ev markets. it is predicted it will fall to 20% by 2025 let's bring in michael ward, he has a buy rating on gm and ford. michelle krebs is executive analyst at cox automotive. michael, do those market share numbers for tesla seem credible, that they would fall from the 70% neighborhood rather quickly to 25% or so >> absolutely. it is a numbers things two things favor general motors and ford on the electric vehicle side in the u.s. first thing is capacity. gm is going to be converting three current assembly plants for electric vehicle production. the second thing is the commercial segment of the market they are dominated by general motors and ford. when you look at the electrification of vehicles in the united states the total cost of ownership, new product and the social

liz: : you have an overweight for ford and general motors.ieve you have an equal weight for tesla. let's talk about ford and general motors if you have to pick one or the other what do you like? >> i do think both are doing a good job i've been covering the sector for over a decade. it is pretty is amazing, you are really doing a great job on all the key things, in the meantime ford is a better position. they are catching up doing an amazing job, they are perceived as lagging on edie's but the mock ease is an offering for a traditional automaker that would be a desire to buy. the tiedeman's unit is one of the top players in the tiedeman space. next year they got hit pretty bad so far this year with the semi issue that means there's a good set up as they get caught into next year. liz: to the point general motors chip issues were last quarter, there might be a vapor trail of that but here's what the ceo of gm told us it was a problem but here's a she's doing now. listen. >> we have a lot of impact with covid hitting the countries in southeast

do you by the ev excellence of general motors? kevin: i do, yes.y it in companies like volkswagen and toyota, even though toyota has talked about hydrogen lot and has been slow to move in electrification. i think all of those global scale companies have the ability to do it. just the profit dynamics haven't followed to this point, and they have just been slow to get involved in that way. tom: lisa abramowicz has the order in for the 2022 hummer h3 ev it-ish and one, priced in at $113,000. can they make an electric car for mere mortals instead of lisa? kevin: eventually, yes. tesla was a good indication of this yesterday. if you look at their average selling price, that was in the mid to upper 40's. so when you think about the way they started with six-figure vehicles, they have sort of moved all the way down to below $50,000. granted, a lot of that volume is going to be china. trans action prices are just lower than they are in the u.s., and the same for europe. but to be able to expand margins as transaction prices get lower and lower, the same th

make no mistake that general motors understands what it has to do.ine number one is not making an activist role in his stake with general motors. it is taking much more of a supportive role. they believe in what gm has planned, what mary barr has planned for the future pumping $35 billion into those platforms. it is going to be all electric by 2035. they have already announced four battery plants there are going to be more here in the united states that's just in the united states there is a ton of potential there. then when you talk about who might happen in terms of autonomous and electric together look at their subsidiary crews which is one step closer to offering autonomous ride share in california. many believe that will happen next year. cruise hasn't set a target daylight for that happening. but that's what engine number one is looking at. they think gm shares would triple over the next five years. >> that would be significant phil, a final word on where we are with the auto market more broadly speaking the argument that cathie wood is making

let's start off with general motors q3, this is a beat on the top and bottom line.s for a profit of 96 cents a share. revenue a little better than expected, $26.76 billion just a smidgen above expectation. 10.9% profit margin for the third quarter. margin is going to increasingly be the story within the auto industry couple other notes they have a $700 million benefit from their settlement with lg chem for the chevy bolt battery fires. they said we're going to take a billion charge over a couple quarters, and then a settlement, $700 million benefit there the company is saying that it is approaching the high end of its guidance the guidance was set just a few weeks ago at investor day between 11.5 and $13.5 billion for the year don't forget coming up next hour, you do not want to miss this interview first on cnbc we will be talking with gm chair and ceo mary barra coming up at 8:30 this morning an interview a lot of people will be looking forward to let's shift gears and talk about boeing boeing missing on the top and bottom line. poor eps, loss of 60 cents a share.

look at shares of general motors we will get an update on general motors' outlook for the rest of theis week at the gm investor day. this is when they give us an update on the remainder of this year and give us a forecast for next year likely and what they're expecting for not just electric vehicle sales. can't emphasize how important this vehicle is for general motors especially after the problems with the chevy bolt and it was underwhelming with response from the public the hummer this is them saying we can compete with tesla when it comes to a vehicle people want to drive. >> so tesla called up 20 plus points this morning. >> reporter: yep. >> and you know the tesla bulls, they're whacky on both sides >> sure. >> i don't know who's worse. but they were complaining over the weekend already that we weren't going to mention it this morning enough or -- >> reporter: i know. >> i'm just pre-empting that can you please mention it. so the record deliveries, right. >> joe, they deserve credit. tesla deserves credit in a quarter when a number of automakers struggled not only with supply cha

manufacturers including general motors, general electric, 3m and boeing face logistics headaches andpersist into next year. on the other hand, big tech firms are powering ahead reporting strong earnings. joining me now is fiona cincotta from city index. it seems like at the moment in terms of earnings, there is a two speed situation from attack in the fast lane and everything manufacturing struggling like manufacturing struggling with these pick—ups. —— tech in the fast lane. with these pick-ups. -- tech in the fast lane.— the fast lane. correct, so what we are seeing _ the fast lane. correct, so what we are seeing is _ the fast lane. correct, so what we are seeing is companies i the fast lane. correct, so whatl we are seeing is companies and manufacturers very much struggling to bridge that difference and gap between supply and demand of parts as economies reopen. so that is being reflected, we are seeing that in part in shortages, and that in part in shortages, and that as well as hitting profits in these companies, so if we think about boeing, for example, they missed their revenu

ford, general motors, earnings are front and center, competing against tesla, worth $1 trillion. how do they say yes, we are going to get a piece of the pie and invest our cash? how much are they getting in vehicles and how much can they keep the prices as high as they have been? they've been on a tear, 20% year-over-year, trying to get a sense of just what we expect to see with the rate hike cycle over the midterm, not just the near term. this is where a lot of the action has been but of late you have seen the two-year take the lead, people pricing in near term hikes, but fewer of them as the reserve reckons. jonathan: did you think that 50 basis points would be seen as a small challenge for the federal reserve? tom: no, that's how silly it is. jonathan: the global head of macro strategy at wells fargo joins us now. did you think 50 basis points on a two-year would be seen as a fall -- small challenge to the federal reserve? mike: frankly it's crazy. two or three months ago, 50 would seem like a big number. but i agree with you, it's pretty crazy for that to upset the federal re

announcing a stake in general motors, according to open with the new york times. -- two "the new yorkimes." we get that headline now. tom: they are really trying to grout what to do to spur things forward. i am going to say they take a more modern approach to activism. jonathan: after winning a boardroom battle with exxon earlier this year, back in late spring. lisa: i wonder how much more corporate activism you're going to end up seeing. we haven't seen as much of it this year, but i wonder if that is the road ahead to profitability if you do get this stasis, as we heard from dave wilson, the idea that you are not getting the dispersion, so you might as well create it. jonathan: small in size. it is not a big player, but it seems to make big waves. lisa: the biggest players are the vanguards, the blackrocks, and they have a certain strategy. jonathan: that has been the issue since day one. coming up, windy schiller, brown university professor of political science. equity futures down 13 on the s&p. this is bloomberg. ♪ maria: with the first word news --leigh-ann: with the first word

scott, back to you >> appreciate it general motors shares bucking today's selloff. says today that gm can become a growth company again leslie picker is following that money. how do they intend for gm to do that, leslie >> that's a good question, scott. chris james, the founder saying on squawk box this morning that gm is quote a triple over the next five years, meaning shares could triple in that time frame. at the end of the second quarter, engine one held about 400,000 shares worth about $21 million. it's unclear they hold now, but it's about 6% of their portfolio as of the end of q2. james emphasized it's not necessarily and activist stake they really do like what gm is doing right now in terms of its transition toward producing more battery elected vehicles the investment idea is on that front. it stems from this white paper they worked on in conjunction with battery vehicles noting that tesla is not enough and that gm is a leader among the incumbent automakers the firm writing quote, gm by virtue has progerhaps the stront foundation, substantial patenting and

liz: your relationship with general motors has only gotten stronger.pplier of the year. they are going to unveil the all-electric chevy sill rad doe in january. fox business and "the claman countdown" will be there in las vegas. but tell me what you see with the new push that gm and mary barra have put forth for all-electric vehicles. >> that's a very smart move from general motors. we are in our fourth year in a row supplier of the year with general motors, and we are instrumental to their push toward or electrification of the at fleet. not only the ages of the car, but -- super transporters. because they're going to have to field a lot of cars when we have a fleet of electric cars. we're going to have to be refueling those cars with electricity from everywhere in the country, and we are the only ones -- [inaudible] liz: lorenzo, before we let you go, president biden has said that as part of the negotiations and dealing with both sides of the aisle here on this build back better man, he does not -- plan, he does not expect to see the original tax corp

right now one of the challenges general motors and all the automakers are facing is the chip shortageter sales of new vehicles for general motors down about 33% year-over-year, i had a chance to catch up with gm president mark royce, he says that is stabilizing, it's starting to improve in the fourth quarter and they expect inventory at dealerships to improve anymore in 2022. >> number won this is probably, this and the pandemic will change the way people by and our dealers are very agile and very aware of that. we are selling things that they can see into the pipeline when the car is built at the plant and they can sell what that vehicle is even before it hits their lot. >> even though we are in detroit they are impacted by this infrastructure talks, all the way in washington, d.c. i asked mary barat about that and she said she supports the package that includes $7.5 billion for more charging stations all across the country, she would also like to see ned tax credit for people who purchase electric vehicles going forward. cheryl: grady trimble, we appreciate that light report in thos

general motors betting it can compete in the electric truck war.ghtning and tesla's cyber truck and the r1t. gm's discontinued its gas guzzling hummer in 2010. now it says it will be back on the market the cost just about $80,000. phil lebeau is here. phil, how is the ev? >> it was impressive, shep i had a chance to drive it in the proving ground, gm's facility northwest of detroit. put it through the paces we're not going to tell you whether to go through rocks or rutts, you do what you need to do this is the area you can do. it held up it allowed me to do the crab walk which is where you drive diagonally this is strange to get used to it's hard to really tell you what that sensation is like but people will use it when they have to get around something that's blocking their path on the street i think this is a really good ev for general motors to come out they need it right now >> yeah, gm's bolt had a lot of issues with the batteries. is the company confident that will be the case with the hummer >> they think that this will be a far different si

. >> another goal announced today, general motors will be the leader in ev sales in the u.s. -- now, it is important for me to point out they don't give a time line when this will happen context. here's the market share in evs right now in the united states no doubt tesla dominates this category 63% market share gm, third w 9% market share. look at shares of general motors and tesla really in the last year while gm hasn't done a whole lot in the last couple of months you have seen tesla moving higher. gm will unveil its let me trick silverado pickup truck this january at the consumer electronics show a lot of announcements coming out here today the most important, gm is trying to pivot aggressively into using electric and autonomous vehicles as the basis for software as a service using subscriptions. you will say i will pay x amount per month to have this service in my vehicle. that's big pivot to be made. but that's one that gm believes they can make. back to you. >> ill if, let me make sure -- you may have mentioned this. did mary barra say when she expected gm to be number one in

one company with a new name is hoping to help general motors bridge the gap. the wolf speed ceo is here on the day as the company finds a new home on the new york stock exchange. plus, it may look like half a car, but at half the price of tesla's cheapest model this ev can soon be giving elon musk a run for his money. the electric ceo here as his company delivers its first solo vehicle to paying customers that's a fox business exclusive. >> well the breaking news right now, president biden in attack mode today after receiving a letter from senate minority leader mitch mcconnell that said republicans will not be helping democrats raise the debt ceiling well the government is set to run out of funds to keep the lights on around october 18. the president warning senate republicans that their actions could have disastrous effects for the american people, and this comes as the biden administration turns its sights on china trade, as massive spending plans for infrastructure and social causes, are on the back burner until the end of the month. a lot has changed over

wednesday we'll be looking at general motors as they have an investor day, essentially, when they'll be talking with analysts about why the company is as it converts towards electronic vehicles gm said it wants to be all electric by 2035 they have the hummer coming out later this year, they have a number of vehicles on tap to roll out and they're putting $35 billion, melissa, into electric and autonomous vehicles, that will be a big focus on the investor day on wednesday for general motors so a couple of important days coming up for gm and tesla >> is tesla as a supply chain far superior to a gm or ford who has had to cut production because of shortages >> i don't know if it's far superior but they clearly have done a much better job managing the chip crisis than other automakers including ford and general motors and if you listened to the analysts today, if you read their notes, you didn't get a real lot of insight in terms of why tesla is so much better than many of the other automakers although adam jonas at morgan stanley said, look, i think it's a case where tesla has put so muc

. >>> general motors bringing back the hummer just in time for the electric truck battle. it stack up? our phil lebeau took it out for a spin you're more than just an investor, you're an owner with access to financial advice, tools and a personalized plan that helps you build a future for those you love. vanguard. become an owner. ♪ ♪ train your mind. train your game. ♪ ♪ because your only limits... ♪ ♪ are the ones you put on yourself. ♪ ♪ >>> one of the driest years on record in california the state officially just entered a new water year on friday it runs from october 1st to september 30th several areas of california set new records in 2021, redding, red bluff and sacramento all had their driest years on record, according to the national weather service. regulators are warning the state's rez varies are so dry they might not be able to use them at all next year. they say they're preparing not to allocate any water to districts for the very first time ever. but that these are preliminary estimates. they are hoping rain and snow this winter could make conditions improve

reporter: berra says general motors is still on track to go all electric, fully electric by 2035.ic vehicles of consumers, neil. she says they are confident people will buy what they have to offer here. neil: going full throttle, no pun intended. that was good, thank thank you,y trimble with mary barra. lauren fix, who knows her auto stuff and much, much more. lauren i'm always amazed with the push for electric vehicles, gm's case, all that way 2035. couple years away, is the demand there to match all this? >> no. honestly i don't think 2035 will be it. remember as the next administration comes in, whenever that may be they will have a different initiative and we've seen this before whether past administration what is they want but 2035, sure you can have electric cars. everyone should have electric cars. you can have that option but if you drive across this beautiful country from coast to coast, i've literally been in every state, it is fine when you're in big cities or suburban areas. you look at some rural areas no way electric applications will work. they will have to have the

. >> this feels so different between general motors and ford. significant improvements in q3 is what ford saw it feels like a very different story from what gm painted this morning. >> it is a different picture and the ceo was asked about that he said i think the difference might be that ford was hit by the plant fire in the second quarter. remember when they had to drop down and bring down their guidance because their chip supply was so dramatically hit in the third quarter we heard from general motors, a resurgence of covid cases and a plant shut down in malaysia. we shouldn't be surprised there is a little different take in terms of what is happening from one auto maker to the next gm was not as impacted and that's the flip here in the third quarter. >> phil, keep us posted. the conference call is under way. it feels like a different story. tim, do you feel the same way about ford and gm? >> when you talk about semiconductors and second quarter shipments up 67% -- excuse me third quarter up 67% over second quarter. ford is able to talk about

>> got to separate those out, morgan talk about general motors since they reported yesterday.ce that was as robust as ford nowhere clear to as robust as ford as a result, the street kind of went i'm not crazy about what i'm seeing from general motors over the near term farther out, i like what i hear from them about the evs, that's what analysts are saying, but in the near term not crazy about what they're seeing from general motors in terms of vw, skalantis out with the deliveries and revenues for the third quarter today, look, they're both impacted because of the chip crisis vw, the ceo, said they were far more impacted in ceo than in q2. you have to look at those two and realize the bit of a different animal there and also those shares don't move nearly the same amount as ford and general motors at least here in the united states. the stocks do move, but you see much more of a quicker reaction because it's investors here in the u.s. and that's why you see the reaction that you see. don't forget, toyota, now back to close to 52-week high. >> phil, their comments about chip s

we get earnings for general motors. the big question for me is how they complete with -- compete with tesla, after what we just saw, how do they deal with some of the component shortages that have really delayed production? tesla shares of a mere 1451% -- is that even a percentage point anymore? [laughter] we will hear from general motors ceo mary barra coming up later today, 8:45 a.m., don't miss that. tom, i am doing that for you, five-year option following yesterday's two-year option, which confirms a rate hike coming sooner than fed officials expected. tom: the only thing constructive about 1:00 p.m. this afternoon as i will be deep into the "surveillance" nap. jonathan: i will be long gone, too, tom. lisa: when a preview of this option. "i'll be sleeping." [laughter] jonathan: with us now is rebecca patterson, senior investor bridgewater. let's talk about how quickly we have repriced the front end of the yield curve. what is that telling you, rebecca? rebecca: i think chairman powell probably helped move the needle

. >>> general motors investor day begins in just a couple hours.ady? do they want to be more like tesla? going for more software and big tech, is that what they're up to? reporter: they're hoping to position themselves, stuart, as a tech company whose hardware or product happens to be vehicles how do you do that? think things like software improvement. subscription services like onstar and self-driving features. of course there is the big push into electric vehicles. we shown you the electric hummer but general motors has plans to unveil 30 different all-electric models by 2025. we're expected to get a clearer path to that today. general motors is building at this site a electric vehicle lab for battery development. on top of that they announced a partnership with ge renewable energy to build a local supply chain for rare earth materials and other materials that they need to make electric vehicle batteries. that is on the consumer side. let's take a look at the other side of the equation which is delivery vehicles. brightdrop is an electric vehicle

then there's the pledge that trump made to workers in ohio imlying he would stop general motors fromry, very big lourdstown factory, and promised to save the jobs in the area. >> those jobs have left ohio. they are all coming back. they are all coming back. coming back. don't move. don't sell your house. >> don't sell your house. general motors closed up shop in lourdestown, another company bought the plant and foxconn, fresh off the failure of the 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

general motors says it will put all efforts into going electric. this is one of their current cars, the cadillac lyric. tesla, of course, pioneered electric cars and as a company it's worth far more than general motors or ford or any other car company. teslas are great cars, but their appeal for many drivers is about range and other car companies are starting to catch up. on musk's other company spacex far ahead of its competitor boeing as both companies race to build space capsules. spacex has already sent astronauts to space. boeing, meanwhile, has more delays, meaning astronauts will not go to space this year. instead they'll go to the space station on a spacex rocket. we're seeing positive progress on the debt ceiling in washington. we'll talk politics in about 30 minutes. and donald trump's lawsuit against youtube is coming out to california. trump had sued youtube in florida, demanding youtube let him back on the service. a judge there said youtube's terms of service means it has to be adjudicated in northern california. mr. trump is also sui

since there was a six week strike against general motors two years ago. >>> greenhouse emissions and g20 countries are on the ride. a global partnership statement was issued with that report. admissions plunged 6% lt year but this year, they are projected to rise by 4%, despite strong growth in solar and wind power. researchers found some countries are on track to his seed the 2019 emission levels. >>> a check of whether with meteorologist mary lee. >> a lovely day across the bay area. we are looking across the bay with 60s and 70s across our region. 24 hour temperature changes, 2- 6 degrees warmer than yesterday at this time. sunshine today with warmer temperatures compared to yesterday and high fire danger with northerly wind and we are watching solano county and sacramento valley for gusty offshore wind. we will warm up friday and saturday and the areas highlighted in red are under the red flag warning due to gusting on 35 miles an hour. relative values plummet through the day. dry offshore winds with a counterclockwise flow and on futurecast with the wind out of the north and loo

here is what we came away learning about general motors.bottom line. the chip shortage is going to be here through at least the first quarter. >> it's a bit more complex than everyone's looking at it but we are seeing stronger supply in fourth quarter we'll see stronger supply in the first quarter. we're also taking steps longer term to make sure that we aren't impacted by semiconductors or any other of the commodities or material that we need to successfully grow our ev future. >> general motors also said that it plans to see full-year profits near the higher end of its previous guidance. that didn't do much to push the stock higher you mentioned will ford. they report earnings, oh, in five or six minutes. people will want to know any change in the guidance in terms of ev production for the f-150 lightning and its other ev plans. those really start to ramp up next year. guys, back to you. >> phil lebeau, thanks so much for that mike, just under two minutes left of the session. >> really it's the indexes falling to meet what has been a rela

and g.m. -- general motors, chrysler and ford.d to do? they decided they're going to lead the world and build more of the electric vehicles than any other country. guess what? china is not waiting around. they manufacture more than twice as many electric vehicles than we have the last decade. they control more than 75% of the battery market. they're poised to invest another $14 billion this charging capacity now in their country. back in may, i had a chance to tour ford's state of the art facility in dearborn where union members are building the ford f-150. it's quick. 0-60 in 4 seconds. it's a big boy. it's a big one. months later, i hosted the big three automakers at the white house for the ford 150 was joined by the gmc hummer and the jeep wagoneer all going electric. the future is electric. we need to make sure america builds that future instead of falling behind. we should build those vehicles and the batteries and get them here in the united states of america. that's what we should build, here in the state of michigan. i wan

general motors plans to install up to 40,000 electric vehicle chargers across the u.s.nd canada as part of a new community program that will start next year. gm will work with dealers to have the charging stations in locations such as work places, apartment buildings, sports and entertainment venues and college universities. the stations will be available to anybody that has an electric vehicle regardless of the brand. mark november 4th on your calendar, and that's when you snag the free taco. atlanta brave's second baseman accomplishing the steal in the first game of the world series. there's a limit of one per person. >> only one? i can eat, like, six of those things. >> yeah, one is not enough. >> i bet you can't eat just one. crunchy, though. love crunchy. >> thanks. >>> we're tracking your commute and forecast as you head out the door. >> kari hall has those details. >> yeah, we are watching another system that will be moving in, but we still have several days of a break in between, so we'll talk more about how long we will have to dry out, coming up next. >>> i am

take a look at tesla versus general motors and ford.n the last three months tesla has easily outperformed both general motors and ford and again, while that is high as earlier today in the trading session the shares of tesla are moving higher. >> yeah. certainly they've been acting pretty well for a while now, tesla shares so to get at this issue where tesla seem not to have been impeded as much by the semiconductor shortage, can it be as simple as the numbers game, the absolute number of vehicles that tesla is creating is relatively small? the overall industry does millions, you know, in combination, so is it just about they can scramble for as many as they need and the others just can't? >> well, i think that's a little bit too simplistic you can't just say that. elon musk said that they were going to be prioritizing more readily available semiconductor chips and also working on the firm ware, within the vehicle so they could better handle the situation in terms of the tight supply that was out there. having said that, when you read t

. >> it is right now, look at northrop grumman, general motors, look at cleveland-cliffs, everything right now is rallying, in my opinion, on the conclusion i raised >> joe, jump in and then brynn, please >> so, i think the difference here between this first re-opening, and i don't believe in multiple re-openings. but the first re-opening was about a reflation effect on stocks the second re-opening, if jimmy wants to identify this as such, this is more about stagflation, scott. so jimmy's pointing out all these stocks how come small caps are still below their march high how come airbnb or disney or uber or the airlines that are all re-opening stocks, how come they're not ripping towards new highs? i think this time around's a little different i'm going to give you a real example of what i'm talking about. this weekend i was in an ice rink in new jersey they were charging $25 to watch 15 and 16-year-old kids play hockey they weren't doing it because it was standing room only and there was overwhelming demand. they were doing it to defer cost, input costs and wage inflation. that's sta

. >> driverless car services are speeding through the next checkpoint, alphabet waymo and general motorsous car companies officially received california dmv approval to run awe for ton o must rob o box services in the san francisco bay area this is big and don't forget that liz was the very first broadcaster to ride in a waymo driverless car two years ago there she is, on this news, waymo parent alphabet is moving to the upside, up more than 2.25 % general motors again which backs cruz is also higher by more than 1%, but waymo and cruz aren't the only driverless vehicle services joining the race. autonomous trucking company is looking to transform trucking by eliminating dependency on workers and shipping bottlenecks , and ceo ghatam joins us right now and it's great to have you here, i'm sorry i knew i was going to mess up your name but i love the company. so i hope you forgive me. so, let's talk about this , because this is big news in san francisco. is this going to help you in the bay area, with what you're trying to do with these b2b vehicles? >> it does, yes, so one key difference

robo taxis and i'll grant there is a reward with the bolt recall it looks pretty darn good for general motorsetimes investing is simple and stay out of the way jen motors has a really wild bid to it right now, don't try to na say it just ride it calls of the day, i want to lead off with home depot and lowe's because both were downgraded today. pete, you own home depot do you think these shares will stall out? >> you know, i think they could, scott. let's be honest. take a look at that stock and see what the 52-week high all-time high is and it was 345 and it's not that far away from there. could it stall and could it pause for a little while and when i look at the valuation it's very fair and trading at a 22 p-e and they have the digital side of sales as well and supply chain can be an issue and we all know that and that could be a factor that plays in and yeah, it could stall for a little while. while i weight i'll continue to get my selling of calls and i'll be happy because i like what the company represents and it's got growth and it might be stalled because of supply chain issues, but th

by the way, when ford and general motors builds electric cars, they're buying 90% of their batterieshat? neil: how did china get in this position where they dominate not only all the precious minerals and all that -- >> well, let me finish. china needs lithium for their9 batteries, they didn't have any. so what kid we do? we gave them afghanistan. that's where all the lithium is. now, how did china do that? china has no oil, so they had no -- they had to go to electric so they wouldn't be dependent on us. but now we're going to be dependent on them for batteries. i mean, that is dumber than doesn't and why are we -- dumber than dumb. and why are we doing this? i don't know why. putin is laughing, and guess what? the chinese are laughing at us too. neil: yeah. this is from marlene who writes i still cannot believe that the prices at the dollar tree will go up. it was the only place that had not been impacted by inflation until now, so where do we go from here? >> it's going to go up. maybe it'll -- dollar tree will be 1.99 instead of .99. their costs are going up. i was with a large m

is an important first step and that partnership and i couldn't be more excited for general motorsitional customers that will require them thto meet their net zero goals for their customers. >> i spoke to mary barra yesterday, and she needs companies like new court to deliver on their end if she's going to meet her targets and given the fact that you use scrap and have been very thoughtful about what you go into a plant, it is a way for her to be able to meet her goals. >> absolutely. and we're really excited about that as you know we're the first eaf producer to receive the gm suppliers of the year award. we've done this now back-to-back to back years. and that is going to spread. that is not just the auto industry many customers are calling and asking for steels today and that is a key differentiator for new court to be able to do that. our investments in the virtual power purchase agreements really providing unique back drop for new court to bring value to our customers and our shareholders. >> so one of the things that i've been saying to people is, look, you may see it four an

discusses new plan, fewer chips and how he plans to handle the ev gauntlet just thrown down by giant general motors. our tesla power panel previews what to expect. >> but first, breaking news on capitol hill. we are waiting for details on when the senate may vote on a deal to raise the debt ceiling by $480 billion. that's enough for the u.s. to pay its bills to, well just a few weeks, guys, to december 3. stocks reacting very positively to this news, as an economic default appears to have been avoided for now but not everyone is happy with how this plan came together, we go to capitol hill, where hillary vaughn has a front row seat to all of the action. okay, hillary they have a deal but will they have a vote? reporter: lauren that depends on when that vote will happen because you're right. there is a deal between minority leader mitch mcconnell and the democrats but not all republicans are happy about it, so a few angry republicans could slow down the process, and stall a vote until as late as saturday , but even today, president biden was asked about this debt ceiling deal, and he's not ready to

general motors wants to challenge tesla as the leader in electric vehicle production. american car giant laid out a roadmap for transformation which includes the goal of doubling its annual revenue, with a renewed focus on electric and hybrid technology. ♪ supply chain disruptions around the world have affected industries from electronics to construction. now, french shoe stores say they are running low on stock, as our correspondent reports. reporter: retailers in france don't have a spring in their step. with stock of shoes running low, store managers are having trouble keeping the shelves full, and they are running out of sizes. reporter: it is a problem of supply and demand, leaving customers empty-handed. reporter: so, what is behind the shortage? there is a global lack of materials and factories in france are producing less. also, imports from asia are down by 40% since the start of the year. a decrease driven by a huge surge in shipping container prices which have skyrocketed a 10 times in just one year. >> [speaking in french] running lane reporter: shoe seller

record highs as investors digested a slew of earnings from major companies like mcdonald's and general motorsthe dow dropped 266 points. the nasdaq gained nearly a point. the s&p 500 lost 23. >>> costco is luring workers by raising starting wages again. the big box chain hiked its week. costco's wage increases were enacted to help it compete with large companies including amazon, target, and best buy which all raised their starting pay last year. this is the second time in eight months costco has bumped up pay for its employees. >>> the pandemic seems to be having an unhealthy and unintended consequence. an increase in people smoking. the federal trade commission says cigarette sales rose across the nation last year for the first time in two decades. the data didn't specify why sales are up, but the rise coincides with similar shifts in consumer behavior prompted by the pandemic which increased feelings of isolation, stress, and uncertainty. >>> and a dog-themed digital currency is setting records. say hello to the sheeba inu coin, not to be confused with the well-known doge coin. the cryptoc

and i got general motors -- i didn't get them.eral motors decided after a long time spent talking to me, they were suing california because they had a higher mileage standard. they dropped the suit and agreed that they would be 50% electric vehicles by 2030. by 2030. and now you have all three, all three major manufacturers saying the same thing. so what will happen is you're going to see a dramatic drop, a dramatic drop in what's going to happen in terms of gas prices as we go into the next two or three years. even if we're not able to break the monopoly price they're keeping it up because -- anyway. but i don't -- i must tell you, don't have a near-term answer. there's two things i could do. there's two things i could do. i could go in the petroleum reserve and take out and probably reduce the price of gas maybe 18 cents or so a gallon. it's still going to be above 3 bucks. and one of the things that i refuse to have happen because i didn't want anybody -- i made a commitment if you pass the stuff i'm talking about not one singl

general motors will be buying a key component in the drive train for roughly half of what tesla is sourcingolfspeed is producing on 8-inch wafer just the others produce on 6-inch wafer. they're sketching out plans right now so tesla is not leading in everything. tesla has done a phenomenal job and a great company but i see it as overvalued and plenty of opportunities elsewhere to make great money in the growth of electric vehicles. >> sounds like you need to go from neutral to underweight based on all the things you are saying maybe come back when you made that recommendation change if you do good to see you. >>> after the break the energy rally gets more fuel a firm looks for winners osthe stories and many more when we go inside the market zone that's next. the pursuit is on. the pursuit of outperformance at pgim. with deep expertise to outthink across multiple asset classes, actively managing investments in the world's public and private markets. outscale, with the resources to serve 1,500 clients in 52 countries. and outlast, with long-term conviction that looks beyond today's volatility

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there's one-of-a-kind stuff in there like one from general motors signed by the chairman andmain stockholder mister dupont . i just have all kinds of crazy stuff that i've collected like 65 years or 62 years or something like that. >> you write in the lifetime learner that the most fundamental skill of the curious person is to look to and to observe. >> i'm sorry? >> to look and to observe. >> yes, yes. i talked a lot about the ways that we learn and you know, i study so being in the classroom and i was an entrepreneur and resident at the university of texas for a year and i taught a lot of classes to entrepreneurs and spoken all over the world. so study whether it's classroom or just watching c-span, something that's perceived as being passive but shouldn't be. when i watch a documentary on making notes and arguing with the documentarian in a lecture or something. i'll be taking notes and going up afterwards one way we learn and there are a number of them, trial and error or experimentation. conversation is the waymost people learn . but one of them that gets left out they don't do inmost c