VW aiming for 3M small EVs produced in Spain between 2025-2030

LG Energy in talks with Toyota (TM) to supply EV batteries

March 24, 2023 2:16 PM EDT

LG Energy CEO Kwon Young Soo announced Friday that the South Korean battery giant has entered into talks with Toyota Motors (NYSE: TM) in the hopes of supplying the automaker with EV batteries.

When asked about the negotiation progress with... More

LG revives Arizona battery factory with $5.6b investment

March 24, 2023 2:00 PM EDT

LG Energy Solutions, the worlds third-ranked electric vehicle battery maker, announced Friday that the company will resume a stalled U.S. battery project with a $5.6 billion investment in Arizona to qualify for federal incentives rolled out under the Inflation Reduction Act (IRA).

The battery maker said in June it was reassessing what was then a 1.7 trillion won ($1.3 billion) investment plan because of "unprecedented" economic conditions, just three months after it was... More

Tesla (TSLA) losing momentum as retail investors pull away

March 24, 2023 12:26 PM EDT

According to data from Vanda Research, as of Wednesday, Net daily purchases of Tesla shares by individuals have fallen by about three-fourths from a peak of $436 million on March 1. Retail traders whose purchases have helped push the electric-vehicle makers stock up over 50% in 2023 are pulling back this month amid disappointment over a recent investor day and concerns over the health of... More

Tesla (TSLA) rolls out safety score 2.0

March 24, 2023 12:07 PM EDT

In October of 2021, Tesla (NASDAQ: TSLA) began a wide release of its FSD beta, only accessible to Tesla drivers who achieved a 100/100 on a proprietary safety scoring system. However, in November 2022, the FSD beta was opened to all North American owners who had purchased the option, regardless of safety score. Now the safety score is mainly used by the company to determine monthly premiums for its Tesla Insurance.

Friday, Tesla launched its Safety Score 2.0, a new version... 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

Tesla (TSLA) remains brand leader in UBS EV consumer survey

March 24, 2023 7:25 AM EDT

UBS reiterated a Buy rating and $220.00 price target on Tesla, Inc. (NASDAQ: TSLA) following the seventh wave of the UBS Evidence Lab EV consumer survey.

The survey, which included over 10k participants, shows that 46% of consumers are likely to consider buying a fully electric car (BEV), a 3%-pts decrease y/y. This is the first sequential decline since the surveys... More

Tesla (TSLA) expects to lose tax credit on standard Model 3

March 23, 2023 7:53 AM EDT

Electrek reports Thursday, citing people familiar with the matter, that Tesla (NASDAQ: TSLA) told employees they expect to lose the full $7,500 federal tax credit on their cheapest electric car, the Model 3 Standard range.

The communication to employees appears to have been done to prepare buyers of those vehicles,... 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

Stellantis (STLA) and Credit Agricole sign agreement to acquire activities of ALD and LeasePlan

March 22, 2023 8:26 AM EDT

Stellantis (NYSE: STLA) and Crédit Agricole Consumer Finance announced Wednesday that they have entered into a binding agreement for the acquisition of ALD and LeasePlans activities in Portugal and Luxembourg, respectively, following ALDs proposed acquisition of 100% of LeasePlan announced in January 2022.

The announcement follows the partnership agreements between Stellantis and Crédit Agricole Consumer Finance announced in... More

Stellantis (STLA) to invest €130M in German assembly plant

March 22, 2023 8:14 AM EDT

Stellantis (NYSE: STLA) announced Wednesday that the American automaker will invest over 130 million in the Eisenach Assembly Plant in Germany to add production of the BEV successor vehicle to the Opel Grandland compact SUV currently built at the location. The new vehicle will be built on the all-new STLA Medium platform. Production of the new BEV is scheduled to begin in the second half of 2024.

Eisenach, our most compact plant in Germany, has demonstrated a strong drive in quality improvements, said Arnaud Deboeuf,... More

Nike, First Republic and Luminar fall premarket; GameStop, Virgin Orbit soar

March 22, 2023 8:14 AM EDT

By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Wednesday, March 22nd. Please refresh for updates.

First Republic Bank (NYSE: FRC) stock fell 5.3% ahead of the Fed rate decision even as negotiators in Washington and on Wall Street discuss potential government... More

Stellantis (STLA) and Credit Agricole JV to Acquire Activities of ALD in Portugal and LeasePlan in Luxembourg

March 22, 2023 5:56 AM EDT

Stellantis and Crédit Agricole Consumer Finance Joint Venture Plans to Acquire Activities of ALD in Portugal and LeasePlan in Luxembourg

NewCo, resulting from the consolidation of Leasys and Free2move Lease and owned equally by Stellantis and Crédit Agricole... More

Stellantis (STLA) to Invest EUR 130M in Eisenach Assembly Plant

March 22, 2023 5:53 AM EDT

Stellantis Invests 130 Million in Eisenach Assembly Plant in Germany for Electric Opel Grandland Successor

New battery electric vehicle (BEV) production on the STLA Medium platform set to launch in the second half of... More

Nasdaq Trades at High, Up 1.35%

March 21, 2023 3:00 PM EDT

(Updated - March 21, 2023 3:02 PM EDT)

Nasdaq Trades at High, Up 1.35%

S&P 500 Up 1.05%Dow Up 0.65%Tesla (NASDAQ: TSLA) among outperformers, up nearly 8%... More

Midday movers: First Republic, Tesla, Foot Locker and more

March 21, 2023 2:44 PM EDT

By Liz Moyer

Investing.com -- Stocks were rising on Tuesday as investors looked ahead to the Fed's interest rate decision, which is widely expected to be an increase of a quarter of a percentage point. Here are the midday movers for March 21.

... More

Active options: TSLA AAPL NVDA BAC AMD AMZN FRC META MSFT

March 21, 2023 11:04 AM EDT

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Tesla (TSLA) Climbs 4%

March 21, 2023 9:44 AM EDT

Tesla (NASDAQ: TSLA) Climbs 4%

Earlier: Brokerage data surrounding Tesla (NASDAQ: TSLA) shows that the EV company is poised to report one of its best quarters in China.

... More

Data suggests a very strong Q1 for Tesla (TSLA) in China

March 21, 2023 9:05 AM EDT

Brokerage data surrounding Tesla (NASDAQ: TSLA) shows that the EV company is poised to report one of its best quarters in China.

According to data from China Merchants Bank International, the U.S. EV maker's retail sales in China totaled 106,915 units from Jan. 1 to March 19, or 1,371 units per day on... More

First Republic, Meta Platforms, Harley-Davidson and Foot Locker rise premarket

March 21, 2023 8:22 AM EDT

By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Tuesday, March 21st. Please refresh for updates.

First Republic Bank (NYSE: FRC) stock rose over 20% following... 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

Tesla to deliver strong Q1 retail sales in China - brokerage data

March 21, 2023 8:14 AM EDT

SHANGHAI (Reuters) - Tesla is poised to report one of its best quarters in China, the latest retail sales data showed, after becoming the first electric vehicle maker in the country to cut prices in a bid to defend its market share.

The U.S. EV maker's retail sales in China totaled 106,915 units from Jan. 1 to March 19, or 1,371 units per day on average, according to data from China Merchants Bank International, which tracks car insurance registrations.

That was slightly higher than the 1,327 units it sold... More

Tesla's (TSLA) key Chinese rival BYD said to cut shifts as EV demand softens

March 21, 2023 6:10 AM EDT

BYD Co, one of China's biggest car makers and a key competitor of Tesla (NASDAQ: TSLA) in the local market is making shift cuts at two of its EV plants in China, as reported by Reuters early Tuesday.

According to an internal memo,... More

Tesla's competitor BYD reduces shifts at two EV assembly plants in China - Reuters

March 21, 2023 5:40 AM EDT

BYD reduces shifts at two EV assembly plants in China - Reuters

BYD, a Chinese EV maker that outsells Tesla in the local market, has reportedly reduced shifts at two key plants in China. No specifics on how long reduced shifts would last for were provided.... More

Tesla (TSLA) Receives Baa3 Investment-grade L-T Issuer Rating from Moody's

March 20, 2023 4:42 PM EDT

Tesla (NASDAQ: TSLA) Receives Baa3 Investment-grade L-T Issuer Rating from Moody's

... More

Polestar (PSNY) launches electric SUV in China with $29k price cut

March 20, 2023 2:52 PM EDT

Swedish electric automaker, Polestar (NASDAQ: PSNY) officially launched their Polestar 3 electric SUV in China on Friday. However, the EV maker has slashed its starting price by roughly $29,000.

When the Polestar 3 was first advertised to Chinese... More

Active options: TSLA AAPL CS NVDA AMZN AMD BAC MSFT FRC META

March 20, 2023 2:29 PM EDT

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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

Tesla (TSLA) price cuts 'not a fad, but a trend' - Morgan Stanley

March 20, 2023 11:17 AM EDT

Morgan Stanley analyst Adam Jonas reiterated an Overweight rating and $220.00 price target on Tesla (NASDAQ: TSLA), saying price cuts are "rational" and "not a fad, but a trend."

"We believe EV price cuts are not a fad, but a trend," Jonas commented. "While subject to... More

Active options: TSLA CS NVDA AMD AMZN MSFT AAPL BAC LAZR

March 20, 2023 9:56 AM EDT

Active options: TSLA CS NVDA AMD AMZN MSFT AAPL BAC LAZR

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Active options: TSLA CS NVDA AMD AMZN MSFT AAPL BAC LAZR

March 20, 2023 9:55 AM EDT

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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

Active options: TSLA NVDA AAPL MSFT AMD AMZN BAC GOOGL META

March 20, 2023 5:39 AM EDT

Active options: TSLA NVDA AAPL MSFT AMD AMZN BAC GOOGL META

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