Happy Friday and welcome to Shifting Gears, Business Insider’s weekly round-up of the biggest transportation news.
Tesla is dominating the news Friday, with the reveal of its long-awaited Cybertruck, but there was no shortage of other stories. In today’s issue, we’ve got updates on the impending holiday travel (and shipping) crunch, GM’s juicy lawsuit against FCA, Boeing-versus-Airbus drama, and more.
Did someone forward you this email? You can subscribe here to get this digest direct to your inbox every week.
Here’s the menu this week:
Tesla’s long-awaited truck is here
Thursday night, before a packed house at Tesla’s design studio in Hawthorne, California, CEO Elon Musk finally unveiled the electric “Cybertruck” he’s been working on since at least 2013.
The event was action-packed, and I don’t say that lightly. It had lasers, fire, creepy animated figures, and even a Tesla ATV.
But not everything went according to plan. The truck’s “armour glass” windows got smashed. Twice. On purpose.
Ford goes electric
Ford’s not scared of Tesla.
It’s the first new Mustang-branded vehicle since 1964, and the SUV could be a real Tesla challenger. Here are the full specs.
The announcement came amid the Los Angeles auto show. You can see all of the cool cars, SUVs and concepts on display here.
Airbus flies past Boeing
The Boeing 737, a plane near synonymous with air travel, is no longer the king od the skies. Airbus’ A320 has officially become the most popular plane in the world, fuelled in part by Boeing’s ongoing 737 Max crisis.
Did I say 737 Max? You bet. There’s still no end in sight for the embattled jet. This week, Boeing shareholders sued the company’s board, alleging “careless” handling of the plane’s development and the crisis that followed.
Not all was lost for Boeing though, which successfully inked a deal for 60 of the 737 Max jets at the Dubai Air Show.
Holiday shipping heats up
There’s one week fewer between Thanksgiving and Christmas this year, and that’s making things even worse (or better) as e-commerce becomes the dominant holiday shopping choice.
Amazon’s in-house delivery network is set to face its biggest challenge yet, as the retail giant doubled down on competing with UPS and FedEx.
Speaking of FedEx, you might have seen that the company paid $US0 in federal income taxes for 2018. That’s a point the CEO rejected, touting the company’s voluntary pension payment as an example of ways it’s helping invest in its employees and community.
One slight problem: FedEx is slashing its pension plan for new hires.
Uber’s never ending spiral
Uber’s founders are cashing out. Former CEO Travis Kalanick has now sold well over $US1 billion in stock as he scales up his deliveries-only “ghost kitchen,” and his cofounder Garrett Camp has made significant sales too, according to regulatory filings.
Seeking to calm the water, and give investors a vote of confidence, current CEO Dara Khosrowshahi bought up $US6.7 million worth of shares, sending the company’s stock price soaring after hours.
In other Uber news, the US National Transportation Safety Board this week chided the company’s lax safety culture as the cause of a pedestrian’s death after she was struck by an Uber self-driving car last year.
GM’s salacious FCA lawsuit
In a bombshell 95-page lawsuit this week, GM accused executives of its crosstown Italian rival of bribing United Auto Workers officials in order to undercut competition and violating federal labour law in the process.
BI’s 2019 Car of the Year
Business Insider will reveal its 2019 Car of the Year on Saturday, November 23. Ahead of that, we took another look at the five vehicles that were runners-up selected from a pool of 16 finalists. Thus far, we’ve named the Lamborghini Urus, Nissan Leaf SL Plus, Cadillac XT4, the Mercedes-Benz A220, and the Porsche Cayenne Turbo SUV.
Business Insider Emails & Alerts
Site highlights each day to your inbox.