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VW’s new ID.3 electric car at the 2019 IAA Frankfurt Auto Show on September 09, 2019 in Frankfurt, Germany. Photo: Sean Gallup/Getty Images

The long-promised electric car revolution is finally getting underway this week at the Frankfurt auto show, but a host of industry challenges — both economic and technological — "threaten to wipe out profits and shake it to the core," writes Forbes.

Why it matters: Carmakers warned that trade tensions risk dragging the global economy into a recession, according to Bloomberg, casting a pall over the event, one of the industry's most important showcases for future technologies. This is not the way you want to launch some of the most important vehicles in decades.

What they're saying: BMW's CFO warned that it would close a factory if the U.K. opts for a hard Brexit, and VW's CEO said the trade war is getting scary.

  • "We come now into a situation where this trade war is really influencing the mood of the customers, and it has the chance to really disrupt the world economy," VW’s Herbert Diess said in an interview with Bloomberg TV.

Quick take: I'm looking forward to driving all 3 of these electric cars, but I'm bummed that the cute and retro city car, Honda e, isn't headed to the U.S. market.

Go deeper: Troubles loom for the battery supply chain for electric vehicles

Go deeper

Felix Salmon, author of Capital
2 hours ago - Technology

Facebook's scandals have been great for shareholders

Expand chart
Data: YCharts; Chart: Axios

Facebook has been embroiled in scandal for the past five years, and while the specific allegations change over time, a central theme is constant. Given the choice between commercial and moral imperatives, Facebook always seems to choose the option that is best for the share price.

Why it matters: Facebook's stock chart supports that narrative. Since the 2016 scandals alleging that the social network was infiltrated by foreign actors trying to influence the outcome of democratic elections, Facebook's revenues — and its stock — have been soaring.

Biden to tap telecom trio for NTIA, FCC posts

Jessica Rosenworcel. Photo: Bill Clark/CQ Roll Call

President Joe Biden on Tuesday is expected to name Alan Davidson as head of the telecom arm of the Commerce Department, Jessica Rosenworcel as chairwoman of the Federal Communications Commission and Gigi Sohn as a commissioner at the FCC, according to a person familiar with the process.

Why it matters: Internet availability and affordability has been a key policy priority for the White House, but the administration lagged in tapping people for the agency posts that oversee the issues.

3 hours ago - Technology

Facebook seeks fountain of youth

Data: Piper Sandler Taking Stock With Teens Study; Chart: Axios Visuals

Facebook CEO Mark Zuckerberg on Monday said that the company is pivoting its strategy to focus on young adults, following reports that teens have fled its apps.

Why it matters: A series of stories based on leaked whistleblower documents suggest the company sees the aging of its user base as an existential threat to its business.