BYD posts fivefold jump in 1Q profit

U.S. might delay decision to add EVs to biofuel credit program

According to a Reuters report Monday, citing unnamed sources, that the United States Government could delay a decision on giving eRIN tradable credits to EVs under a renewable fuel program over concerns about expected legal challenges.

Last year, the U.S. Environmental Protection Agency (EPA) proposed to significantly expand the current Renewable Fuel Standard (RFS) to include the so-called eRIN proposal which would allow automakers to generate eRINs tradable credits based on the EVs they sell by establishing contracts with parties that produce electricity from biogas.

The plan would have... More

Morgan Stanley Stays Overweight Rating on Li Auto (LI) Following Record April Sales, 'successful launch of Li AD Max3.0 should give another boost to sales'

Morgan Stanley analyst Tim Hsiao reiterated an Overweight rating and $30.00 price target on Li Auto (NASDAQ: LI).

The analyst comments "Total deliveries of 25,681 vehicles marked the second consecutive month of 20k+ sales. April deliveries were up 23% MoM and 516% YoY. The sequential increase was driven... More

Nio Inc (NIO) deliveries up 30% compared to last year

Chinese electric vehicle company, Nio Inc. (NYSE: NIO) announced Monday that the automaker delivered 6,658 vehicles in April 2023, representing an increase of 31.2% year-over-year after a steady ramp up of production and delivery of the EC7.

The deliveries consisted of 1,713 premium smart electric SUVs, and 4,945 premium... More

Li Auto (LI) soars after setting monthly delivery record

Chinese new energy vehicle maker, Li Auto (NASDAQ: LI) announced Sunday that the company delivered 25,681 vehicles in April 2023, setting another monthly record while exceeding the 20,000 delivery mark for the second consecutive month and representing an increase of 516.3% year over year. The cumulative deliveries of Li Auto vehicles reached 335,599 as of the end of April.

We are pleased... More

Daimler joint venture to build $650M nationwide charging network for electric trucks

Mercedes-Benz owned Daimler Truck on Friday introduced Greenlane, the name of its joint venture with NextEra Energy and BlackRock Alternatives.

The more than $650 million joint venture was formed to design, develop, install and operate a U.S. nationwide, high-performance zero-emission public charging and hydrogen fueling network for medium- and heavy-duty battery-electric and hydrogen fuel cell vehicles.

They also unveiled renderings of the site layout as a major milestone in the development of the... More

Texas house approves $200 annual fee on EVs, bill heads to Gov. Abbott’s desk

A Texas bill requiring electric vehicle drivers to pay an additional annual $200 fee passed the state House of Representatives Thursday with a unanimous vote of 145-0. SB 505 will now head to Gov. Greg Abbotts desk where it is expected to be signed.

Republican state Sen. Robert Nichols, who sponsored the legislation, said an additional electric vehicle fee is necessary because EV drivers don't pay gas taxes when they fuel their vehicles.

"As... More

Tesla (TSLA) drops price of 7-seat Model Y option by $1,000

Electric auto company Tesla (NASDAQ: TSLA) has dropped the price of its 7-seat option for its Model Y to $3,000, down from $4,000 previously.

The standard Model Y includes five seats, but buyers can upgrade to an option for seven seats. The Model Ys rear seats face forward, unlike the rear-facing seat... More

Japan announces $1.8B in subsidies for storage battery, chip projects

Industry Minister Yasutoshi Nishimura announced Friday that Japan will provide as much as $1.8 billion in subsidies for a slate of storage battery and chip-related projects, marking Tokyo's latest push towards greater supply chain security.

The Japanese government plans to give up to 184.6 billion yen ($1.38 billion) in subsidies for eight storage battery-related proposals and up to 56.4 billion yen for two semiconductor-related projects,... More

Tesla (TSLA) pulls Models S and X orders from Australian website

American electric vehicle giant Tesla (NASDAQ: TSLA) updated its Australian website Wednesday night to reflect that the company is no longer accepting orders for either the Model S or Model X from customers in the country. Prospective buyers will only be able to receive updates and not place orders for the companys flagship vehicles.

The $400 refundable pre-order option... More

Hyundai plans Russian exit, negotiates sale of factories

South Korean media reports Wednesday that automaker Hyundai Motors is planning to exit Russia and sell its manufacturing plants.

South Korean TV network MBC reported that negotiations to sell Hyundai's factories in Russia are in the final stage, adding that the automaker has been waiting for a final... More

U.S. board rules Tesla (TSLA) violated labor laws by silencing workers

A U.S. labor board official ruled Tuesday that supervisors at Teslas (NASDAQ: TSLA) Florida service center have violated labor law by telling employees that they should not discuss pay and other working conditions, or bring complaints to higher level managers.

Management at the Orlando repair shop illegally silenced workers in 2021 after some of them complained that new hires were being paid more,... More

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Active options: TSLA MSFT GOOGL FRC GOOG AMZN NVDA AAPL ATVI MARA

Tesla (TSLA) Falls to Low, Down 3.5%

Tesla (NASDAQ: TSLA) Falls to Low, Down 3.5%

Tesla broke U.S. labor law by silencing workers, official rules

By Daniel Wiessner

(Reuters) - Tesla Inc supervisors at a Florida service center violated U.S. labor law by telling employees not to discuss pay and other working conditions or bring complaints to higher level managers, a U.S. labor board official has ruled.

Managers at the Orlando repair shop illegally silenced workers in 2021 after some of them complained that new hires were being paid more, according to the decision issued Tuesday by National Labor Relations Board (NLRB) Administrative Law Judge Michael Rosas.

The judge ordered Tesla to cease and desist from violating workers'... More

Microsoft, Boeing, Humana rise premarket; Alphabet falls

Investing.com -- Stocks in focus in premarket trade on Wednesday, April 26th. Please refresh for updates.

Microsoft (NASDAQ: MSFT) stock rose 8% after Britains top competition regulator moved to block the software giants expensive acquisition of video game publisher Activision... More

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Jefferies downgrades Tesla (TSLA) to Hold after price cuts

Jefferies analyst Philippe Houchois downgraded Tesla (NASDAQ: TSLA) shares to Hold from Buy after the electric vehicle (EV) maker implemented several rounds of price cuts to boost demand for its products.

The price target goes to $185 per share, down from the prior $230, signaling returns of ~14% relative to... More

Jefferies Downgrades Tesla (TSLA) to Hold, 'relative price aggression is not supportive of a high multiple'

(Updated - April 26, 2023 4:24 AM EDT)

Jefferies analyst Philippe Houchois downgraded Tesla (NASDAQ: TSLA) from Buy to Hold with a price target of $185.00 (from $230.00).

The analyst comments "A strategy of growth over margin has its logic and resets expectations. It also... More

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Active options: TSLA FRC AMC AAPL NVDA MSFT AMZN AMD BABA GOOGL BAC

Mercedes-Benz launches new E-Class, its final ICE vehicle

Mercedes-Benz on Tuesday announced the launch of the German luxury automakers final new combustion engine model - the next generation of the E-Class. The new vehicle will be built in Germany and China and go on sale in Europe in the third quarter of this year.

It will... More

Hyundai and SK On finalize $5B EV battery venture in U.S.

Hyundai Motor Co. announced Tuesday that the South Korean automaker has finalized a $5 billion electric vehicle (EV) battery joint venture in the U.S., boosting electrification efforts in the country.

Hyundai and partner SK On, a battery unit of SK Innovation Co Ltd (096770.KS), will set up a... More

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Tesla (TSLA) to cut prices again as it struggles to hit its volume targets - analyst

Tesla (NASDAQ: TSLA) shares are down over 21% in April after the company delivered Q1 results last week.

The first quarter was characterized by several rounds of price cuts as Tesla struggles to attract demand in a difficult macroeconomic environment.

Every time that the Fed raises interest rates,... More

Bernstein Reiterates Underperform Rating on Tesla (TSLA), sees more price cuts

Bernstein analyst Toni Sacconaghi reiterated an Underperform rating and $150.00 price target on Tesla (NASDAQ: TSLA).

"Tesla has now cut prices by 10 - 20%+ on its cars since the beginning of the year, yet the company still appears to be struggling to generate... More