The finance sector has “always been a culture of heavy hours and working a lot,” said Jason Snipe, founder and CIO of Odyssey Capital Advisors. “Now that we’ve been forced to stop to a certain degree and reorient ourselves because of the Covid environment, it has allowed us to reexamine what that culture is.”
Proponents of a shorter workweek point to the harm overworking does to a person’s physical and mental health as a reason to shift to fewer hours.
James Angel, associate professor of finance at Georgetown University, said he would be surprised if U.S. stock exchanges shortened their trading hours.
“If anything we might see longer trading hours,” he said. “People trade more when the market is open, and the industry knows this. So they certainly are going to be in no hurry to shut down the cash register.”
There could be potential benefits to shortening hours, such as attracting more diverse talent to the industry.
“How can we make the business more attractive to women and other people who’ve previously been discriminated against in the industry?” Angel said. “One of the things floating around in Europe is the idea of shortening their trading hours.”
Longer hours, on the other hand, could be beneficial to certain market participants, such as West Coast investors.
There are some regulatory caveats for exchanges looking to change their hours. If an exchange would like to alter its trading hours, it would have to first get approval from the Securities and Exchange Commission.
Nasdaq and the New York Stock Exchange declined CNBC’s request for comment.
Watch the video above to find out more about the costs and benefits of a four-day workweek on Wall Street.
Ford claims its new midsize EV pickup will have a lower cost of ownership than a Tesla Model Y and more space than a Toyota RAV4. Starting at $30,000, it will also cost about the same as the RAV4. Here’s how the new Ford EV Universal Platform will make it happen.
Ford reveals new affordable Universal EV platform
Ford’s big bet is about to pay off. The company is preparing to launch a family of affordable electric vehicles based on the new Ford Universal EV Platform.
The first vehicle based on the platform will be the promised midsize four-door electric pickup. Ford’s new EV pickup will start at around $30,000 and will be assembled at its Louisville Assembly Plant.
Based on the new Ford Universal EV Platform, it will also have more passenger space than the latest Toyota RAV4.
Advertisement – scroll for more content
“We took a radical approach to a very hard challenge: Create affordable electric vehicles that delight customers in every way that matters – design, innovation, flexibility, space, driving pleasure, and cost of ownership,” Ford’s CEO Jim Farley said during the event in Kentucky.
According to Farley, Ford is done with the “good college tries” from other Detroit automakers to make affordable EVs, promising the company’s new platform will change the game by lowering costs and optimizing efficiency.
Ford introduces its new Universal EV Platform (Source: Ford)
Ford is the first automaker to build prismatic LFP batteries in the US, which will not only cut costs but also free up interior space.
Farley explained that the new platform reduces parts by 20% compared to the average vehicle. It also has 25% fewer fasteners, 40% fewer worstations dock-to-dock in the plant, and 15% faster assembly time.
Perhaps, most importantly, Ford’s leader explained that it will help reduce costs for owners. Farley claimed that the new Ford Universal EV platform will enable “lower cost of ownership over five years than a three-year-old used Tesla Model Y.”
Ford Mustang Mach-E (left) and F-150 Lightning (right) (Source: Ford)
How so? For one, it’s significantly more efficient than the first-gen Ford EVs. The wiring harness alone in the new midsize truck will be 4,000 feet shorter and 10 kg lighter.
The LFP batteries lie flat under the floor, which improves handling, creates a quiet ride, and “provides a surprising amount of interior space,” Ford said. In fact, it will have more passenger room than the latest Toyota RAV4. And that’s not even including the added Frunk and truck bed.
Doug Field, Ford’s Chief EV, digital, and design officer, said the company took inspiration from the Model T to make it more than just a utility vehicle.
Ford promises that the new electric pickup will also be fun to drive, with a targeted 0 to 60 mph time as fast as the Mustang EcoBoost, and even more downforce.
The company will release additional information for the midsize electric pickup soon, including a reveal date, final prices, range, battery sizes, and charge times.
Ford said it’s aiming for a starting price of around $30,000, with customer deliveries set to begin in 2027. The company invested around $5 billion into its Louisville Assembly Complex, creating nearly 4,000 jobs to deliver its new EV pickup and LFP batteries.
FTC: We use income earning auto affiliate links.More.
Jeep said the Recon was “inspired by the legendary Wrangler,” but it looks more like a Ford Bronco. With its debut expected any day now, Jeep’s new electric SUV was spotted on a car carrier, revealing a familiar look.
Jeep’s new electric SUV is coming for the Ford Bronco
The Recon was one of four electric SUVs unveiled in 2022 as part of Jeep’s plans to become “the global Zero-Emission SUV leader.”
It started with the Avenger, a compact electric SUV in Europe, followed by the Wagoneer S, a larger, luxury model that’s rolling out globally.
Next up will be the Recon. Jeep’s new electric SUV is set to make its first official appearance by the end of the year, but we’re already getting a sneak peek at the Ford Bronco lookalike.
Advertisement – scroll for more content
The Recon is “designed from the ground up to be 100% Jeep4x4 and 100% zero emission,” but Jeep promises it will offer much more. With Jeep’s Selec-Terrain traction control system and an open-air feel, it was expected to arrive as an electric sibling to the Wrangler, but the latest spy photos show it could take the form of a rival.
With its official debut coming up, Jeep’s new electric SUV was spotted on a car carrier with barely any camouflage, and it looks just like a Ford Bronco.
The new video from KindelAuto gives us our closest look at the Recon yet — and from what we can see, it’s shaping up to be one sharp-looking SUV.
Jeep actually took a jab at the Ford Bronco during the Super Bowl last year, previewing the Recon racing past a Ford Bronco on an off-road trail. At the end, Harrison Ford joked, “This Jeep makes me happy, even though my name is Ford.”
Jeep’s former CEO, Christian Meunier, claimed the Recon will have “the capability to cross the mighty Rubicon Trail, one of the most challenging off-road trails in the US.”
Jeep Recon EV (Source: Stellantis)
Perhaps, even more importantly, Meunier added that the electric SUV will “reach the end of the trail with enough range to drive back to town and recharge.
Jeep maker Stellantis filed a patent in May for a unique three-speed gearbox for electric vehicles, which could debut in the Recon. The new unit is designed to deliver enhanced off-road performance without compromising driving range.
Jeep Recon Moab 4xe (source: JeepReconForum)
Based on the same STLA Large platform as the Wagoneer S, the Recon is expected to arrive with a driving range of at least 300 miles. Like the Wrangler, it will likely be offered with several trims, including a Willys, Overland, and Moab model.
The Jeep Recon EV is scheduled to go on sale later this year as a 2026 model year. Prices are expected to start at around $60,000. More expensive trims, like the Moab, could cost upwards of $80,000.
What do you think of the Recon? Can Jeep’s new electric SUV go head-to-head with the Ford Bronco? We will learn more later this year. Check back for the latest.
Source: KindelAuto, JeepReconForum
FTC: We use income earning auto affiliate links.More.
Tesla’s director of service for the North American market announced that he left the automaker after almost 9 years.
The talent exodus continues at Tesla.
Since a wave of mass layoffs last year, Tesla has been experiencing a talent exodus.
Here is just a short list of Tesla execs who left the company this year:
Advertisement – scroll for more content
David Imai: Director of Design; departed February 2025
David Lau: VP of Software Engineering; departed April 2025
Mark Westfall: Head of Mechanical Engineering (Tesla Energy); departed April 2025
Prashant Menon: Regional Director (India); departed May 2025
Vineet Mehta: Head of Battery Architecture; departed May 2025
Omead Afshar: VP/Head of Sales and Manufacturing (North America and Europe); departed June 2025
Milan Kovac: Head of Optimus Humanoid Robot Team; departed June 2025
Jenna Ferrua: Director of HR; departed June 2025
Troy Jones: VP of Sales, Service, and Delivery (North America); departed July 2025
Pete Bannon: VP of Hardware Engineering (Chip Tech and Dojo Supercomputer); departed August 2025
Now, we need to add one more to the list: Piero Landolfi, Director of Service in North America.
Landolfi announced that he was leaving Tesla on LinkedIn yesterday:
After 8 3/4 years I have made the difficult decision to leave Tesla. It was hard because of the incredibly talented and passionate people that I had the privilege to work, sweat and laugh with as we were accelerating the world to sustainable energy, against all odds and in spite of what used to be the general beliefs about electric cars. It was hard because of the amazing products we build, the first principle thinking and the getting stuff done mentality that makes Tesla such an exciting place to work at. However, it is now time for my next adventure. This is the way.
He was later promoted to Director of Service for the North American market.
According to his LinkedIn profile, he has joined Nimble, a robotics company serving warehouses and e-commerce, as SVP of Operations. The company includes several former Tesla veterans in its leadership.
Electrek’s Take
The talent bleed continues. I want to emphasize that we are only reporting on the exec levels (C-level, VPs, and directors), but there are many more people leaving in key engineering and management positions.
I’m considering writing an article on those, as this talent exodus has been one of the main concerns about Tesla for a while.
For the longest time, Tesla’s ability to attract top talent has been its main advantage.
Looking at the comings and goings at Tesla over the last year, this is clearly not the case anymore.
FTC: We use income earning auto affiliate links.More.