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

General Motors (GM) GM North America names Rory Harvey President as Steve Carlisle announces retirement

May 2, 2023 2:26 PM EDT

American Automotive brand General Motors (NYSE: GM) announced Tuesday that Steve Carlisle, executive vice president and president of GM North America, is retiring after more than four decades with the company. Carlisle, 61, has been the president of GM North America since September 2020.

The company also... More

Ford (F) cuts price of Mach-E after Tesla (TSLA) raises prices in multiple markets

May 2, 2023 11:36 AM EDT

Ford (NYSE: F) announced Tuesday that the American automaker is cutting prices on its Mustang Mach-E electric vehicle and reopening orders after a series of price cuts by rival automaker Tesla Inc (NASDAQ: TSLA).

Ford said it is cutting most Mach-E prices by $3,000 or $4,000 depending on the version. Last month, the federal EV tax credit for the Mach-E fell in half to $3,750 from $7,500 after new... More

Piper Sandler cuts price target on Tesla (TSLA) following 10-Q filing

May 2, 2023 8:19 AM EDT

Piper Sandler reiterated an Overweight rating on Tesla (NASDAQ: TSLA) and cut their price target on the stock to $280.00 (From $300.00) to reflect information extracted from the electric automakers 10-Q filing.

Analyst Alexander Potter wrote in a note, Most investors will be unsurprised to learn that... More

Tesla (TSLA) raises prices in key markets around the world; not about demand say Citi

May 2, 2023 7:45 AM EDT

American electric vehicle giant, Tesla (NASDAQ: TSLA) announced a price hike Tuesday for all variants of the companys Model 3 and Model Y vehicles in key markets, including the U.S., China, Japan, and Canada after several cuts this year. Citi analyst Jeff Chung believes that the hike is not about recovering demand.

According to our channel checks with dealers, we estimate new order... More

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

May 1, 2023 1:15 PM EDT

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

General Motors (GM) cuts 'several hundred' contract workers over the weekend

May 1, 2023 11:49 AM EDT

The Wall Street Journal announced Monday that American automaker General Motors (NYSE: GM) has laid off several hundred full-time contract workers at its Global Technical Center in Warren as well as other locations this weekend in its bid to shave $2 billion from its budget by the end of next year.

The cuts come nearly a month after... More

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

April 28, 2023 2:30 PM EDT

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

Stellantis (STLA) Signs Offtake Agreement and Invests in Alliance Nickel for Battery-grade Nickel and Cobalt Sulphate

April 28, 2023 12:02 PM EDT

Binding offtake agreement of battery-grade nickel and cobalt sulphate from the NiWest project in Western AustraliaOfftake agreement for approximately 40% of forecast annual production for an initial term of five yearsStellantis purchases 9.2 million (AUD 15 million) in new equity in Alliance Nickel, giving it an 11.5% shareholdingAgreement strengthens Stellantis' value chain for electric-vehicle battery production that supports Dare Forward 2030 strategic plan... More

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

April 28, 2023 11:50 AM EDT

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

Ford Motor (F) option implied volatility into quarter results

April 28, 2023 11:39 AM EDT

Ford Motor (NYSE: F) May weekly call option implied volatility is at 54, May is at 45; compared to its 52-week range of 33 to 587 into the expected release of quarter results after the bell on May 2.

... More

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

April 28, 2023 7:35 AM EDT

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

Stellantis (STLA) signs offtake agreement, invests in Alliance Nickel

April 28, 2023 7:23 AM EDT

American carmaker, Stellantis (NYSE: STLA) announced alongside Alliance Nickel Friday the signing of a binding offtake agreement for the supply of 170,000 tons of nickel sulphate and 12,000 tons of cobalt sulphate in total over an initial five-year period.

This represents approximately 40% of forecast annual production of the NiWest Nickel-Cobalt Project in Western Australia. Pricing for the nickel and cobalt sulphate is linked to index prices.

In addition to the offtake deal,... More

Ford Motor (F) May weekly 11.50 straddle into quarter results

April 28, 2023 5:20 AM EDT

Ford Motor (NYSE: F) May weekly 11.50 straddle is priced for a move of 6.5% into the expected release of quarter results after the bell on May 2.

... More

Stellantis (STLA) Signs Offtake Agreement and Invests in Alliance Nickel

April 28, 2023 4:14 AM EDT

Stellantis Signs Offtake Agreement and Invests in Alliance Nickel for Battery Grade Nickel and Cobalt Sulphate

Binding offtake agreement of battery-grade nickel and cobalt sulphate from the NiWest project in Western AustraliaOfftake agreement for approximately 40% of forecast annual production for an initial term of five yearsStellantis purchases 9.2 million (AUD 15 million) in new equity in Alliance Nickel,... More

Glass Lewis recommends vote against Tesla board nominee JB Straubel

April 27, 2023 3:35 PM EDT

SAN FRANCISCO (Reuters) - Proxy advisory firm Glass Lewis recommended Tesla Inc shareholders vote against board nominee JB Straubel at the electric carmaker's annual meeting next month, raising concerns regarding his independence.

Straubel is a co-founder of Tesla and served as its chief technology officer before stepping down in 2019. Straubel has since founded Redwood Materials Inc, a battery recycling and materials company.

"The unwinding of conflicting relationships between former management and board members is more likely... More

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

April 27, 2023 3:22 PM EDT

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

BYD posts fivefold jump in 1Q profit

April 27, 2023 12:04 PM EDT

Chinese electric automaker BYD Co. posted a fivefold jump in its first-quarter profit on Thursday.

Net profit for the first three months of the year was 4.13 billion yuan ($596.56 million), up 410.9% from 808.41 million yuan a year earlier, on revenue up 79.8% at 120.17 billion yuan, the company said in a stock... More

Morgan Stanley adjusts estimates ahead of Ford’s (F) 1Q release

April 27, 2023 8:02 AM EDT

Morgan Stanley reiterated an Overweight rating and $14.00 price target on Ford Motor Company (NYSE: F) ahead of the American automakers 1Q earnings release. Ford is scheduled to report 1Q earnings results on Mary 2nd.

Analyst Adam Jonas wrote in a note,... More

Cantor Fitzgerald Starts Polestar Automotive Holding Uk Plc (PSNY) at Overweight

April 27, 2023 6:02 AM EDT

(Updated - April 27, 2023 6:35 AM EDT)

Cantor Fitzgerald analyst Andres Sheppard initiates coverage on Polestar Automotive Holding Uk Plc (NASDAQ: PSNY) with a Overweight rating and a price target of $7.00.

The analyst comments "We initiate coverage of Polestar Automotive Holding (PSNY)... More

Stellantis (STLA) offering voluntary buyouts to 33,500 U.S. employees

April 26, 2023 1:53 PM EDT

Stellantis (NYSE: STLA) announced Wednesday that the Chrysler parent company is offering voluntary exit packages to 33,500 U.S. employees as it looks to streamline operations.

The automaker did not say how many total jobs it is looking to eliminate. However, the offer covers 31,000 U.S. hourly workers and about 2,500 salaried workers. The company is also... More

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

April 26, 2023 12:01 PM EDT

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

Stellantis (STLA) to Offer Buyouts to Certain White-Collared Employees - WSJ

April 26, 2023 11:17 AM EDT

Stellantis (NYSE: STLA) to Offer Buyouts to Certain White-Collared Employees Company Memo Says -- WSJ

Stellantis to Also Offer Buyouts To Some Factory Workers, Internal Memo SaysBuyout Offers to Target Salaried Workers with 15 Years of Experience or More... More

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

April 26, 2023 10:14 AM EDT

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

... More

Tesla (TSLA) Falls to Low, Down 3.5%

April 26, 2023 10:08 AM EDT

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

Earlier Jefferies downgrades Tesla (TSLA) to Hold after price cuts... More

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

April 26, 2023 9:36 AM EDT

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

Rivian (RIVN) faces lawsuit in federal court over Georgia plant construction

April 26, 2023 8:48 AM EDT

Rivian (NASDAQ: RIVN) and two contractors are facing a lawsuit in federal court brought by a Georgia resident who claims muddy runoff from the construction site of Rivians future factory has choked streams and ponds downstream in violation of federal environmental law.

The filing presents another potential legal hurdle for the EV startup, which has faced stiff resistance from some local residents since announcing plans to build a factory a year and a half ago.

The complaint was filed last week in the... More

Stellantis (STLA) to cut 3,500 U.S. jobs

April 26, 2023 8:31 AM EDT

According to a United Auto Workers union letter made public Tuesday, Chrysler and Dodge parent company Stellantis (NYSE: STLA) wants to cut approximately 3,500 hourly U.S. jobs and is offering voluntary exit packages.

According to the letter, The automaker is looking to reduce its... More

Microsoft, Boeing, Humana rise premarket; Alphabet falls

April 26, 2023 8:14 AM EDT

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

General Motors (GM) PT Raised to $48 at RBC Capital

April 26, 2023 6:49 AM EDT

RBC Capital analyst Joseph Spak raised the price target on General Motors (NYSE: GM) to $48.00 (from $46.00) while maintaining a Outperform rating.... More

General Motors (GM) PT Lowered to $37 at Mizuho Securities

April 26, 2023 6:37 AM EDT

Mizuho Securities analyst Vijay Rakesh lowered the price target on General Motors (NYSE: GM) to $37.00 (from $39.00) while maintaining a Neutral rating.... More

General Motors (GM) PT Lowered to $35 at Deutsche Bank

April 26, 2023 6:23 AM EDT

Deutsche Bank analyst Emmanuel Rosner lowered the price target on General Motors (NYSE: GM) to $35.00 (from $37.00) while maintaining a Hold rating.... More

Active options: TSLA FRC AMC AAPL NVDA MSFT AMZN AMD

April 26, 2023 4:57 AM EDT

Active options: TSLA FRC AMC AAPL NVDA MSFT AMZN AMD

... More

Popular stocks increasing options volume: AAL F FRC COIN GM NFLX BBBY

April 26, 2023 4:56 AM EDT

Popular stocks increasing options volume: AAL F FRC COIN GM NFLX BBBY

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Jefferies downgrades Tesla (TSLA) to Hold after price cuts

April 26, 2023 4:40 AM EDT

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

General Motors (GM) PT Lowered to $42 at Barclays

April 26, 2023 4:09 AM EDT

Barclays analyst Dan Levy lowered the price target on General Motors (NYSE: GM) to $42.00 (from $45.00) while maintaining a Equalweight rating.... More