Polestar (PSNY) slashes production guidance and announces job cuts

Fisker (FSR) gains following announced production ramp

Shares of sustainable electric automaker, Fisker (NYSE: FSR) are trading up 3.61% after the EV company released a press release Monday detailing the next phase of EV production as it accelerates its global launch of the electric Fisker Ocean SUV.

Today, Fisker is beginning to gradually ramp-up production, and will continue throughout May and has set a goal to... More

Tesla (TSLA) faces another lawsuit over impact of software updates on EV batteries

Tesla (NASDAQ: TSLA) is again confronted with a class action lawsuit for limiting the battery capacity inside its vehicles through a software update. A group of U.S. Tesla Model S and Model X owners filed a proposed class-action lawsuit against the electric vehicle manufacturer on Friday claiming the companys automatic software updates allegedly resulted in reduced driving range or even battery... More

Soros exits Tesla (TSLA), reduces Rivian (RIVN) stake after 90% drop from peak

Soros Fund Management, the family office of George Soros, cut its holdings in Rivian Automotive (NASDAQ: RIVN) following the electric automakers 90% share decline from its intraday peak in November 2021. The billionaire also slashed its $16 million stake in Tesla (NASDAQ: TSLA), effectively eliminating their investment in the EV giant.

Soros purchased... More

Tesla's 'Unboxed Process': Revolutionizing auto manufacturing or a risky endeavor?

Tesla (NASDAQ: TSLA) introduced a new vehicle-assembly systemin March, sparking instant buzz and debate among industry specialists on whether the system, known as the "unboxed process," devised by CEO Elon Musk is a radical innovation, a visionary departure from traditional methods, a derivative concept, or a combination.

Musk believes the company needs to radically rethink conventional manufacturing methods in order to produce electric vehicles at larger volumes that are both more affordable and profitable.

Investors have eagerly anticipated the revelation of what many consider to be Tesla's holy grail: an electric... More

Fisker (FSR) pushes release of Pear EV until 2025

In a recent update, American electric vehicle manufacturer, Fisker (NYSE: FSR) announced that the launch of its highly anticipated model, the Fisker Pear, will be postponed until 2025. The company originally announced the affordable EV would debut with a price of $29,900 in 2024, but it... More

Tesla (TSLA) gains valuable endorsement for FSD in China

Electric vehicle giant, Tesla (NASDAQ: TSLA) has gained an important partner in their mission to promote their vehicles, as well as the companys full self-driving program in China.

The Shanghai Municipal Commission of Economy and Informatization (SMCEI) has effectively endorsed the company through a public commitment released by the SMCEI, which was subsequently reported initially... More

Tesla (TSLA) revamps referral program with a chance to win a free Cybertruck

It appears that Tesla (NASDAQ: TSLA) has overhauled its Referral Program, and the changes are quite intriguing. According to observations from the Tesla community, the updated program offers credits towards vehicle purchases, along with an enticing lottery for a pre-release version of the Cybertruck.

According to the electric automakers support page, both existing and new owners are eligible to receive credits. Existing Tesla owners can obtain Referral Credits,... More

Tesla (TSLA) raises prices on Model S, X, and Y vehicles in the U.S.

Shares of Tesla (NASDAQ: TSLA) are up more than 2% in pre-market trading Friday after the electric vehicle giant increased the U.S. prices of its Model S, X, and Y electric vehicles by low single-digit percentages on Thursday, though prices are still considerably lower than at the beginning of the year.

The companys website showed raised prices... More

Tesla (TSLA) to recall 1.1M imported and China-made vehicles

Chinese regulators announced Friday they received a notification from Tesla (NASDAQ: TSLA) that the electric automaker will deploy software updates to more than 1 million vehicles to allow changes to braking methods and more warnings about the use of accelerator pedals.

According to... More

CPCA releases April NEV sales data, BYD leads holding 34.5% of the market

Sales of electric cars and plug-in hybrids in China fell slightly in April. According to data from the China Passenger Car Association (CPCA), 606.8k new energy vehicles (NEVs) were sold in April, a 2% drop from March. However, compared year-on-year, this marks an increase of 116%. Aprils NEV penetration rate reached 33.9%, a 2.9ppt jump over March and a 5.9ppt jump over last year.

A look at the manufacturers shows that BYD heads the list with 209.5k NEVs, a 99% increase over last years numbers, bringing... More

Musk teases 'Major update coming' for Tesla (TSLA) smart summon feature

Elon Musk, the CEO of Tesla (NASDAQ: TSLA), known for his direct engagement on Twitter, responded to a post by @TeslaownerSV on Thursday, hinting at a significant update on the company's smart summon feature saying, that there is a Major update... More

Disney, PacWest and Beyond Meat fall premarket; Robinhood rises

Investing.com -- Stocks in focus in premarket trade on Thursday, May 11th. Please refresh for updates.

Walt Disney (NYSE: DIS) stock fell 5.5% after the entertainment giant reported its largest ever quarterly drop in subscribers to its flagship... More

Electric vehicle maker Polestar cuts production guidance, jobs

By Marie Mannes

STOCKHOLM (Reuters) - Swedish electric vehicle (EV) maker Polestar lowered its 2023 production guidance on Thursday and said it would cut headcount by 10%, citing a delayed production start for its Polestar 3 and a challenging environment for the industry.

The auto maker said it now expected to produce between 60,000 and 70,000 cars this year, versus the previously predicted 80,000.

It has been a tough quarter for EV startups, who face mounting competition from new Chinese... More

Polestar Automotive Holding UK PLC (PSNY) Tops Q1 EPS by 13c

Polestar Automotive Holding UK PLC (NASDAQ: PSNY) reported Q1 EPS of ($0.01), $0.13 better than the analyst estimate of ($0.14). Revenue for the quarter came in at $546.02 million versus the consensus estimate of $570 million.

For earnings history and earnings-related data on Polestar Automotive Holding UK PLC (PSNY) click here.

Robinhood (HOOD) Confirms 24 Hour Market Debut

Robinhood (NASDAQ: HOOD) confirmed it will debut a 24 Hour Market, allowing investors to place limit orders to buy whole shares of 43 of the most traded ETFs and individual stocks - like Tesla (NASDAQ: TSLA), Apple (NASDAQ: AAPL), and Amazon (NASDAQ: AMZN). The brokerage's 24 Hour market starts next week for a subset of customers and will be available to everyone in June.

From Robinhood:

The world never stops, so why should investing be any... More

Tesla (TSLA) cuts Supercharging prices in Europe

Tesla (NASDAQ: TSLA) has cut Supercharger prices across most markets in Europe, decreasing fees by over ten percent as energy prices are stabilizing downward following the crisis.

In Europe, there have been major swings in electricity rates over the last year due to the war in Ukraine. Tesla had to adjust... More

Panasonic delays production of new Tesla battery to improve performance

By Hyunjoo Jin and Kiyoshi Takenaka

SAN FRANCISCO/TOKYO (Reuters) - Panasonic said on Wednesday that it will delay the commercial production of its 4680 battery cells championed by Tesla CEO Elon Musk and begin operations during the April to September period in 2024, later than previously scheduled, as the company aims to improve their performance. 

Tesla's Japanese supplier, Panasonic, previously planned to start volume production for Tesla between April 2023 to March 2024.

"Mass... More

BYD cuts starting price for Seal EV in bid to extend market lead over Tesla (TSLA)

Chinese automaker BYD Co cut the starting price of its best-selling Seal sedan by 10% on Wednesday as the electric vehicle maker aims to extend its lead in the world's largest auto market.

The new price for the vehicle is now 18% cheaper than the rear-wheel drive Model 3 made by the companys closest competitor, Tesla (NASDAQ: TSLA).

China's EV market is in the midst of a price war started by Tesla earlier this year, with several EV... More

Active options: TSLA AMD AMZN AAPL PLTR NVDA PYPL CHPT GOOGL

Active options: TSLA AMD AMZN AAPL PLTR NVDA PYPL CHPT GOOGL

Tesla (TSLA) option IV near low end of range

Tesla (NASDAQ: TSLA) 30-day option implied volatility is at 44; compared to its 52-week range of 45 to 96.

Active options: TSLA AMZN NVDA AAPL AMD PLTR UPST ABNB PYPL

Active options: TSLA AMZN NVDA AAPL AMD PLTR UPST ABNB PYPL

Tesla (TSLA) achieves 5,000-unit weekly production milestone for Model Y

Electric vehicle giant, Tesla (NASDAQ: TSLA) said Tuesday that the automakers Texas facility has reached a 5,000-unit weekly production rate for its Model Y, equating to a roughly 260,000 vehicles annually.

The popularity of Tesla's Model Y has surpassed that of its sibling, the... More

Lithium chemical firms Allkem and Livent to merge to create $10.6 billion group

Investing.com -- Lithium chemical groups Allkem Ltd (ASX: AKE) and Livent Corp (NYSE: LTHM) have announced plans to merge in an all-stock deal that would create a combined entity valued at $10.6 billion.

In a... More

Tesla (TSLA) option implied volatility

Tesla (NASDAQ: TSLA) 30-day option implied volatility is at 46; compared to its 52-week range of 45 to 96.

Active options: PLTR TSLA AMD PYPL AAPL NVDA AMZN GOOGL AFRM

Active options: PLTR TSLA AMD PYPL AAPL NVDA AMZN GOOGL AFRM

Tesla says its Texas factory hits output of 5,000 Model Ys per week

BERKELEY, California (Reuters) - Tesla said on Tuesday that its Texas factory achieved production of 5,000 Model Y vehicles per week, meaning that it would be able to produce about 260,000 of the vehicles annually.

Tesla's Texas factory has an annual capacity of at least 250,000 vehicles.

(Reporting by... More

U.S. EV shares slump following news of Lucid (LCID) and Fisker (FSR) poor 1Q results and production cuts

U.S. electric automakers saw a decline in share prices Tuesday morning following cuts to production forecasts by Lucid Group Inc (NASDAQ: LCID) and Fisker Inc (NYSE: FSR), with Lucid sliding 9% in early trading.

Fisker shares were last down 5.3% after the company reported quarterly results. The company reported 1Q EPS of ($0.38), $0.08 worse than the analyst estimate of ($0.30). Revenue for the quarter came in at $198 thousand versus the consensus estimate of $6.33 million. The EV maker also announced... More

Lackluster results, production target cuts deepen EV start-up gloom

By Tiyashi Datta and Abhirup Roy

(Reuters) -EV makers Fisker Inc, Nikola Corp and Lucid Group disappointed investors with dull quarterly results and production target cuts, sending their shares lower on Tuesday and deepening worries about weak demand and an ongoing price war.

EV market leader Tesla Inc's move to slash prices and increase volume, as well as lower-priced electric models launched by traditional automakers have hurt startups including Lucid.

Shares of SUV maker Fisker and truck maker Nikola Corp, which reported early on Tuesday, fell 7% and 13%, respectively. Shares of Lucid, which makes luxury sedans, dropped... More

Fisker (FSR) cuts production targets in the face of supply chain issues

Fisker Inc. (NYSE: FSR) announced Tuesday that the electric automaker has lowered its production target as the U.S. EV startup continues to struggle to ramp up output in the face of supply chain constraints, easing demand and a tight cash position.

The... More

Lucid Group (LCID) Appoints Andrea Soriani as VP of Marketing

Lucid Group, Inc. (NASDAQ: LCID), setting new standards for luxury electric experience with the Lucid Air, winner of the 2023 World Luxury Car Award, today announced the addition of Andrea... More

Lucid’s (LCID) 1Q miss sends shares into pre-market dive as analysts sprint to adjust

Lucid Group (NASDAQ: LCID) reported its 1Q earnings results after the close Monday, reporting EPS of ($0.43), $0.04 worse than the consensus estimate of ($0.39). Revenue for the quarter came in at $149.4 million versus the consensus estimate of $199.35 million.

CFRA Research cut their 12-month target on LCID by $1.00 to $6.00 and cut 2023 EPS estimates to ($1.60) from ($1.40). CFRA analyst, Garret Nelson believes that LCID's weak top line suggests the EV pricing war may be taking its toll.

Analysts at Cantor Fitzgerald remain bullish on Lucid. However, they too lowered their price target on RIVN (to $10.00 from $13.00) due to... More

Palantir and Novavax rise premarket; PacWest, PayPal and Under Armour fall

Investing.com -- Stocks in focus in premarket trade on Monday, May 9th. Please refresh for updates.

Palantir (NYSE: PLTR) stock rose 15.6% after the data analytics software maker said it expects to turn a profit every quarter in 2023, seeing strong demand in its new... More

Barclays predicts April back step as EV penetration reaches 14% in March report card

Barclays released a March EV report card as EV penetration reached 14%, up m/m and y/y, but still below elevated 4Q22. Analyst Dan Levy believes April is poised to be a slight step back in uptake, in-line with typical 1st month-of-quarter patterns. Tesla (NASDAQ: TSLA), however, had an impressive March share, benefiting from price cuts and an increased focus on low cost EVs exported from China.

China once again had the highest EV penetration rate among the major global regions (30% in March), yet was flat m/m.... More

Lucid Group Inc. (LCID) PT Lowered to $10 at Needham & Company

Needham & Company analyst Vikram Bagri lowered the price target on Lucid Group Inc. (NASDAQ: LCID) to $10.00 (from $16.00) while maintaining a Buy rating.... More

Fisker (FSR) Misses Q1 EPS by 8c, Misses on Revenue; Guides Q2 Production of 1,400-1,700 EVs

Fisker (NYSE: FSR) reported Q1 EPS of ($0.38), $0.08 worse than the analyst estimate of ($0.30). Revenue for the quarter came in at $198 thousand versus the consensus estimate of $6.33 million.

Fisker plans to produce 1,400-1,700 vehicles in Q2, provided all partners deliver. Fisker... More

Lucid Group Inc. (LCID) PT Lowered to $10 at Cantor Fitzgerald

Cantor Fitzgerald analyst Andres Sheppard lowered the price target on Lucid Group Inc. (NASDAQ: LCID) to $10.00 (from $13.00) while maintaining a Overweight rating.... More

Lucid Group Inc. (LCID) PT Lowered to $6 at CFRA

CFRA analyst Garrett Nelson lowered the price target on Lucid Group Inc. (NASDAQ: LCID) to $6.00 (from $7.00) while maintaining a Hold rating.

Active options: TSLA AMD NVDA AAPL AMZN PLTR AMC PYPL CVNA META SHOP

Active options: TSLA AMD NVDA AAPL AMZN PLTR AMC PYPL CVNA META SHOP

Tesla (TSLA) option implied volatility near low end of range

Tesla (NASDAQ: TSLA) 30-day option implied volatility is at 46; compared to its 52-week range of 45 to 96.