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

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

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

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

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

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

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

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

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