Nio (NIO) surges as CFO is 'very confident' in 250k vehicle sales target

Ford (F) aims to build 500K EV trucks per year at new Tennessee plant

March 24, 2023 8:03 AM EDT

Ford said Friday that the American automaker plans to build up to 500,000 electric trucks a year at its BlueOval City complex under construction in western Tennessee. Part of the companys plan to have global EV production capacity of 2 million vehicles a year in place by the end of 2026.

BlueOval City will assemble several versions of Fords next-generation F-series electric pickup, which the company calls Project T. The plant will also have a battery plant capable of... More

Ford (F) announces next-gen EV pickup coming in 2025

March 24, 2023 7:48 AM EDT

Ford Motor (NYSE: F) announced Friday that the American automaker is gearing up for the next step in its EV truck business with Project T3.

The company said its preparing to build its next-gen electric truck, code-named Project T3, at its upcoming BlueOval City EV vehicle and battery... More

UBS survey shows slowing pace of EV sector

March 24, 2023 7:38 AM EDT

UBS conducted the seventh wave of its annual UBS Evidence Lab EV consumer survey with results showing 46% of consumers are likely to consider buying a fully electric car (BEV), a 3%-pts decrease y/y, marking the first sequential decline since the surveys inception in 2016. Analyst Patrick Hummel believes that the decline was driven by European markets on affordability concerns.

Hummel wrote in a note, While we... More

Ford (F) predicts $3B pretax loss in EV business this year

March 23, 2023 8:09 AM EDT

Ford Motor Co. (NYSE: F) is scheduled to hold a mid-morning briefing with investors and analysts on Thursday. However, before the meeting, the company revealed that they expect their electric vehicle business unit to lose $3 billion this year, but remains on track to achieve a pretax margin of 8% by late 2026.

The briefing is being held to discuss the American automakers new financial reporting format. Starting with first-quarter results,... More

Baidu’s (BIDU) Apollo gains approval to test autonomous vehicles in Shanghai

March 22, 2023 2:00 PM EDT

Apollo, Baidus (NASDAQ: BIDU) smart car business, announced Wednesday that the Chinese tech giant has received approval to be among the first companies to test fully autonomous vehicles in Shanghai.

Apollo currently operates driverless robotaxi services in specially designated areas of... More

NIO Inc. (NIO) gains as CFO confident sales will double this year

March 22, 2023 6:17 AM EDT

NIO Inc. (NYSE: NIO) gains 2% in pre-open trading after the CFO said they are "very confident" sales will double this year to 250,000.

CFO Steven Feng was talking to Bloomberg TVWe are very confident to achieve our sales target in 2023, Feng said.... More

Ford (F) unveils new Explorer EV for European Market

March 21, 2023 11:59 AM EDT

(Updated - March 21, 2023 12:21 PM EDT)

Ford (NYSE: F) on Tuesday unveiled its new all-electric Ford Explorer SUV exclusively for the European market. The automaker said it plans to leverage the well-known Explorer nameplate to gain traction.

Other than the Explorer name and some design attributes, the new vehicle has very little in common with its gas-powered counterpart in the U.S., or the plug-in hybrid version thats currently... More

Ford (F) likely to miss 2026 EV margin target as Deutsche Bank predicts larger than expected losses

March 21, 2023 11:40 AM EDT

Deutsche Bank reiterated a Sell rating and $11.00 price target on Ford Motor Company (NYSE: F) ahead of the American automakers teach-in on its new reporting structure this Thursday, when the company is expected to disclose profits/losses for its three new business units, Ford Blue, Ford Pro, and Model e.

Analyst Emmanuel Rosner attempted to estimate the respective segment economics and believes that the EV business could report much deeper losses than investors expect. Rosners... More

Ford Motor (F) call put ratio 2.6 calls to 1 put into Q&A session CFO and Controller on March 23

March 21, 2023 11:22 AM EDT

Ford Motor (NYSE: F) 30-day option implied volatility is at 40; compared to its 52-week range of 33 to 587 into hosting a teach in where it will share details of its new segment and financial reporting as well as a Q&A session with their... More

Deutsche Bank reiterates Sell rating on Ford (F), says EV business could report bigger-than-expected losses

March 21, 2023 9:57 AM EDT

Deutsche Bank analyst Emmanuel Rosner reiterated a Sell rating and $11.00 price target on Ford (NYSE: F). Ahead of Fords teach-in on its new reporting structure this Thursday, Rosner said:

"Ford Blue, Ford Pro, and Model e, we have attempted to estimate the... More

Slowing demand has BYD reducing shifts at China EV plants

March 21, 2023 8:21 AM EDT

Reuters reports Tuesday, citing people with knowledge of the matter, that BYD has reduced shifts at two auto assembly plants in China.

According to three of the sources and an internal memo sent earlier this month, BYD, which outsells Tesla (NYSE: TSLA) in China, asked some of the workers at its Xian plant, its biggest manufacturing hub, to work only four days a... More

Ford Motor (F) option implied volatility into Q&A session with their CFO and Controller

March 21, 2023 3:19 AM EDT

Ford Motor (NYSE: F) 30-day option implied volatility is at 43; compared to its 52-week range of 33 to 587 into hosting a teach in where it will share details of its new segment and financial reporting as well as a Q&A session with their CFO and Controller on March 23.

... More

Ford (F) recalls 1.5M vehicles over faulty brakes and wipers

March 20, 2023 12:08 PM EDT

According to the National Highway Traffic and Safety Association (NHTSA), Ford Motor Company (NYSE: F) is recalling around 1.3 million vehicles across the United States. The recall addresses leaky brake hoses that increase the possibility of a crash and applies to 2013-2018 model year Ford Fusions and Lincoln MKZs sedans. The automaker is also recalling nearly 220,000 F-150 pickups to fix defective... More

Prepare for lower margins as Tesla (TSLA) price cuts become a 'feature' of EV market - Morgan Stanley

March 20, 2023 11:51 AM EDT

Morgan Stanley reiterated an Overweight rating and $220.00 price target on Tesla (NASDAQ: TSLA) as analyst Adam Jonas believes that investors should anticipate further price cuts in EVs.

Jonas wrote in a note, We believe EV price cuts are not a fad, but a trend. While subject to volatility, investors should anticipate further price cuts in EVs with cost-leader Tesla setting the tone.

One of the reasons Jonas... More

Morgan Stanley cuts forecasts on China EVs reflecting headwinds

March 20, 2023 8:16 AM EDT

Morgan Stanley has decided to cut earnings forecasts and price targets on Chinese electric vehicle companys, Nio Inc. (NYSE: NIO), Li Auto (NASDAQ: LI), XPeng (NYSE: XPEV) and BYD after Teslas (NASDAQ: TSLA) price cuts in the country triggered broader price competition. The price cuts, along with weaker YTD sales post stimulus, has pressured the Chinese EV segments 1H23 sales margin.

Carmakers continue to join the price competition by either lowering the MSRP directly,... More

NIO (NIO) PT Lowered to $12 at Morgan Stanley

March 20, 2023 5:07 AM EDT

Morgan Stanley analyst Tim Hsiao lowered the price target on NIO (NYSE: NIO) to $12.00 (from $16.10) while maintaining a Overweight rating.... More

Ford Motor (F) option implied volatility into Q&A session with their CFO and Controller

March 20, 2023 5:04 AM EDT

Ford Motor (NYSE: F) 30-day option implied volatility is at 45; compared to its 52-week range of 33 to 587 into hosting a teach in where it will share details of its new segment and financial reporting as well as a Q&A session with their CFO and Controller on March 23.

... More