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

Fisker (FSR) explores collaboration with other companies

May 17, 2023 11:41 AM EDT

Fisker (NYSE: FSR) CEO, Henrik Fisker said Wednesday that the electric automaker is exploring collaborations with other companies to scale up market share faster.

"Buyers aren't loyal anymore to their traditional brands. That changes everything. If we collaborate with someone, you can scale quicker ... it could be with suppliers, other car companies, tech companies - we are exploring all these avenues," Fisker said, speaking at the Reuters Automotive Conference in Munich.

During interviews at the conference on Tuesday, senior executives from Polestar (NASDAQ: PSNY) and Smart, rival... More

Tesla (TSLA) reopens talks with India, proposes new EV factory

May 17, 2023 10:43 AM EDT

Reuters reports, citing a source with direct knowledge of the matter, that electric vehicle giant Tesla (NASDAQ: TSLA) told government officials on Wednesday they would like to build a factory in India to build electric cars for domestic sale and... More

Stellantis (STLA) warns UK factories will close if Brexit deal is not changed

May 17, 2023 9:59 AM EDT

Stellantis (NYSE: STLA), the world's No. 3 carmaker by sales and owner of 14 brands including Vauxhall, Peugeot, Citroen and Fiat has warned the U.K. that British car plants will close with the loss of thousands of jobs unless the Brexit deal is swiftly renegotiated.

According to Stellantis, under the current deal it would face tariffs when exporting electric vans to Europe... More

China's BYD launches autonomous driving division and extensive recruitment drive

May 17, 2023 9:20 AM EDT

BYD Co, the largest electric vehicle manufacturer in China, is well aware of its lag behind competitors in autonomous driving technology. In order to address this weakness, the company has established a new division and launched an extensive recruitment campaign.

During an investor forum this month, Senior Vice President Stella Li revealed that BYD Co has successfully recruited approximately 4,000 to 5,000 software engineers. In a transcript verified by the company, she stated, "Although we are currently not leading the pack, we are committed to delivering a... More

Tesla's (TSLA) shareholder meeting: Musk unveils product updates, strategic plans, and an advertising shift; Analysts positive

May 17, 2023 8:28 AM EDT

Tesla (NASDAQ: TSLA) held its annual shareholder meeting in Austin Texas on Tuesday where CEO Elon Musk updated investors on the companys current product fleet, FSD, its Cybertruck production ramp, and plans to complete Part 3 of its Master Plan to provide a path towards a 100% sustainable economy.

The meeting took place just days after Musk announced that there will be a new person heading up Twitter, signaling to TSLA shareholders he may have more time to spend on the electric vehicle giant.

The multi-billionaire reiterated his commitment to... More

Stifel starts EVgo (EVGO) at Buy, believes company is positioned well to capitalize on growth trend

May 17, 2023 7:43 AM EDT

Stifel initiated coverage of EV fast charging company, EVgo Inc. (NASDAQ: EVGO) with a Buy rating and set their 12 month price target for the stock at $9.00.

EVgo is a leading EV charging company based in Los Angeles. Their primary business is the... More

Gov. Abbott signs annual EV tax bill into law

May 16, 2023 2:44 PM EDT

Texas Governor, Greg Abbot signed Senate Bill 505 into law over the weekend, requiring electric vehicle owners to pay $400 to register a new electric vehicle, on top of other fees. Renewing registration will cost $200.

The purpose of the fee is to guarantee that owners of electric vehicles contribute their fair portion towards highway expenses, typically funded by a 20 cent-per-gallon gas tax paid by owners of gasoline-powered and hybrid vehicles.

The bill passed a vote in the... More

Tesla (TSLA) Model 3 dominates reliability study, outperforming ICE counterparts

May 16, 2023 2:09 PM EDT

Teslas (NASDAQ: TSLA) participated in a new reliability study by the Allgemeiner Deutscher Automobil-Club (ADAC) in Germany where their electric Model 3 crushed its internal combustion engine (ICE) counterparts.

It should come as no surprise that electric vehicles (EVs) are generally more reliable than their fossil-fuel-powered counterparts, given their remarkable mechanical simplicity. The superiority of EVs in terms of reliability has been... More

Tesla (TSLA) seeks approval to expand Shanghai plant, add pouch battery cell production

May 16, 2023 8:32 AM EDT

Tesla (NASDAQ: TSLA) has applied for and is seeking regulatory approval to expand its Shanghai plant and begin producing for the first time pouch-type battery cells in limited quantity.

According to an undated public notice, the Shanghai Gigafactory could potentially expand its capacity to manufacture 1.75 million powertrain units per year, an increase from its current production capacity of 1.25 million units.

Its unclear from the notice, which was posted... More

Tesla (TSLA) introduces discounts for business and fleet buyers in Germany

May 16, 2023 7:43 AM EDT

Electric automaker, Tesla (NASDAQ: TSLA) announced Monday that they have implemented additional discounts for business customers in Germany, signaling the companys increasingly aggressive pricing strategy.

According to a company representative, fleet buyers can now take advantage of an extra 2,250 euro ($2,447) discount. This... More

Active options: TSLA AMZN GOOGL SOFI AAPL NVDA AMD GOOG PACW

May 15, 2023 10:16 AM EDT

Active options: TSLA AMZN GOOGL SOFI AAPL NVDA AMD GOOG PACW

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Tesla (TSLA) option IV into annual shareholder meeting

May 15, 2023 9:13 AM EDT

Tesla (NASDAQ: TSLA) 30-day option implied volatility is at 48; compared to its 52-week range of 45 to 96 into annual shareholder meeting on May 16.

... More

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

May 15, 2023 8:50 AM EDT

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?

May 15, 2023 8:26 AM EDT

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

Analysis-Tesla’s new car-making process stokes debate among industry experts

May 15, 2023 6:04 AM EDT

By Norihiko Shirouzu, Paul Lienert and Victoria Waldersee

(Reuters) - Tesla Inc's new vehicle-assembly system, which created instant buzz when it was unveiled in March, ignited a debate among auto manufacturing experts on whether CEO Elon Musk's so-called unboxed process is radical, revisionist or derivative - or all of the above.

Musk believes the company needs to radically rethink conventional manufacturing methods in order to build more affordable - and profitable - electric vehicles in higher volumes.

Investors have been waiting for Tesla, the world's most valuable automaker, to announce what is perceived as the company's... More

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

May 15, 2023 4:46 AM EDT

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

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Elon Musk says he plans to devote more time to Tesla (TSLA)

May 12, 2023 3:44 PM EDT

Elon Musk says he plans to devote more time to Tesla (NASDAQ: TSLA)

Obviously, bringing on Linda allows me to devote more time to Tesla, which is exactly what I will be doing!

Elon Musk (@elonmusk) May 12, 2023

... More

Midday movers: First Solar, Tesla, Charles Schwab and more

May 12, 2023 2:19 PM EDT

Investing.com -- Stocks were headed for another down week after weaker-than-expected consumer sentiment for May. Here are the market movers for May 12.

First Solar Inc (NASDAQ: FSLR) shares rose 24%... More

Tesla (TSLA) gains valuable endorsement for FSD in China

May 12, 2023 1:56 PM EDT

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

May 12, 2023 1:37 PM EDT

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

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

May 12, 2023 12:30 PM EDT

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

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Elon Musk confirms Linda Yaccarino will be new CEO of Twitter

May 12, 2023 11:51 AM EDT

Elon Musk confirms Linda Yaccarino will be new CEO of Twitter

I am excited to welcome Linda... More

U.S. stocks were wobbling amid tepid consumer sentiment

May 12, 2023 11:41 AM EDT

Investing.com -- U.S. stocks were wobbling as investors digested data that showed inflation was cooling but sentiment was weaker than expected.

At 11:34 ET (15:34 GMT), the Dow Jones Industrial Average was down 80 points or 0.2%, while the S&P 500 was down 0.3% and the NASDAQ Composite was down 0.5%.

... More

Vague rumors Musk could also step down as Tesla CEO after Twitter CEO news

May 12, 2023 10:20 AM EDT

There is a vague rumor from cleantechnica.com that now that Elon Musk has stepped aside at Twitter, he also may step aside at Tesla (NASDAQ:... More

Active options: TSLA GOOGL NVDA AAPL AMZN AMD META GOOG DIS NFLX

May 12, 2023 9:51 AM EDT

Active options: TSLA GOOGL NVDA AAPL AMZN AMD META GOOG DIS NFLX

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

May 12, 2023 9:33 AM EDT

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

May 12, 2023 9:23 AM EDT

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

Musk nabs ex-NBCUniversal ad chief Yaccarino as new Twitter CEO

May 12, 2023 9:18 AM EDT

By Dawn Chmielewski and Sheila Dang

(Reuters) - Elon Musk has named former NBCUniversal advertising chief Linda Yaccarino as Twitter's new CEO, as the company tries to reverse a plunge in ad revenue.

Yaccarino will take over a social media platform beset with challenges and a heavy debt load, after she spent several years modernizing the advertising business at NBCUniversal, which is owned by Comcast Corp.

"I am excited to welcome Linda Yaccarino as the new CEO of Twitter!" Musk said in a tweet on Friday. "@LindaYacc will focus primarily on business operations, while I focus... More

NBCUniversal ad chief Linda Yaccarino to be Twitter CEO - Reports

May 12, 2023 9:06 AM EDT

NBCUniversal ad chief Linda Yaccarino to be Twitter CEO - Reports

... More

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

May 12, 2023 8:55 AM EDT

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

New Twitter CEO may free up Musk to steer Tesla through easing demand

May 12, 2023 8:42 AM EDT

By Akash Sriram

(Reuters) -Elon Musk's appointment of a new Twitter chief may free up the billionaire from a major distraction and allow him to focus more on Tesla Inc, analysts said on Friday.

Tesla shares, which have gained 40% this year, reversed course to trade down about 2% as broader markets fell. The stock had its worst year in 2022, losing 65%, amid Musk's on-again, off-again offer for Twitter.

Musk said on Friday NBCUniversal executive Linda... More

Tesla, PacWest and Icahn Enterprises rise premarket; Fox falls

May 12, 2023 8:21 AM EDT

Investing.com -- Stocks in focus in premarket trade on Friday, May 12th. Please refresh for updates.

Tesla (NASDAQ: TSLA) stock rose 2% after CEO Elon Musk tweeted on Thursday that he had... More

Dow futures rise 145 pts; Michigan sentiment data, Twitter news in focus

May 12, 2023 7:20 AM EDT

Investing.com -- U.S. stocks are seen opening higher Friday on growing optimism that the Federal Reserve may pause its monetary tightening campaign, although concerns about a potential recession remain, along with worries about the debt ceiling and the banking sector.

At 07:00 ET (11:00 GMT), the Dow Futures contract was up 145 points, or 0.4%, S&P 500 Futures traded 15 points, or 0.5%, higher and Nasdaq 100 Futures climbed 28 points, or 0.2%.

The blue-chip Dow Jones Industrial Average closed over 200 points, or 0.7%, lower Thursday, recording a fourth straight losing session, on renewed concerns about deposit outflows in the... More

Tesla (TSLA) adds to Thursday's gains on new Twitter CEO, EV price hike

May 12, 2023 6:38 AM EDT

Shares of Tesla (NASDAQ: TSLA) added 1.5% in pre-open trading Friday after news Elon Musk is naming a new CEO to Twitter and as the company lifted prices slightly in the U.S. on all models:

On Thursday afternoon,... More

Tesla raises US prices for all its vehicles except Model 3

May 11, 2023 11:01 PM EDT

By Shivani Tanna and Shubham Kalia

(Reuters) -Tesla Inc increased the U.S. prices of its Model S, X, and Y electric vehicles by low single-digit percentages on Thursday, though prices were still considerably lower than at the beginning of the year.

The company raised the prices for all variants of its higher-priced Model S and X vehicles by $1,000, while prices of all Model Y variants increased by $250, its website showed.

These... More

NBCuniversal's Linda Yaccarino In Talks To Be Twitter CEO - WSJ

May 11, 2023 7:32 PM EDT

NBCuniversal's Linda Yaccarino In Talks To Be Twitter CEO - WSJ

Earlier, Twitter owner Elon Musk said the company will be getting a new CEO.Shares of Tesla rose 2% following the news as Musk can turn more of his attention back toward the EV maker.... More

NBCUniversal's Linda Yaccarino in talks to become new Twitter CEO - WSJ

May 11, 2023 4:03 PM EDT

(Updated - May 12, 2023 5:27 AM EDT)

Elon Musk said X/Twitter should have a new CEO soon and added that the person should start in approximately 6 weeks. Musk added that his role will transition to the executive chair and CTO, overseeing product, software, and sysops.

The Wall Street Journal... More

Tesla (TSLA) jumps 2% on news of new Twitter CEO

May 11, 2023 3:59 PM EDT

(Updated - May 11, 2023 4:01 PM EDT)

Tesla (NASDAQ: TSLA) jumps 2.3% into the close as Elon Musk said he has found a new CEO for Twitter:

"Excited to announce that Ive a new CEO for X/Twitter" - Elon MuskTwitter drama has been an overhang on Tesla shares.

... More

Elon Musk says he has found new Twitter CEO

May 11, 2023 3:51 PM EDT

By Chavi Mehta, Sheila Dang and Dawn Chmielewski

(Reuters) - Elon Musk said on Thursday he has found a new chief executive for Twitter, but did not name the person, while the Wall Street Journal reported that Comcast NBCUniversal executive Linda Yaccarino was in talks for the job.

Musk said in a tweet: "Excited to announce that I've hired a new CEO for X/Twitter. She will be starting in ~6 weeks!"

Musk said he will transition to the role of chief technology officer of the social media platform within the next few weeks.

... More

Excited to announce that I’ve a new CEO for X/Twitter - Elon Musk

May 11, 2023 3:45 PM EDT

Excited to announce that Ive a new CEO for X/Twitter - Elon Musk

Excited to announce that Ive a new CEO for X/Twitter. She will be starting in ~6 weeks!

My role will transition to being exec chair & CTO, overseeing product, software & sysops.

Elon Musk (@elonmusk) May 11, 2023

... More

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

May 11, 2023 2:30 PM EDT

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

Tesla (TSLA) shouldn’t call driving system Autopilot because humans are still in control, Buttigieg says - AP

May 11, 2023 11:05 AM EDT

Tesla (NASDAQ: TSLA) shouldnt call driving system Autopilot because humans are still in control, Buttigieg says - AP

... More

Polestar (PSNY) slashes production guidance and announces job cuts

May 11, 2023 10:00 AM EDT

Swedish electric automaker, Polestar Automotive (NASDAQ: PSNY) on Thursday lowered its 2023 production guidance and announced that the company would cut headcount by 10%, citing a delayed production start for its Polestar 3 and a challenging environment for the industry.

The electric vehicle company now expects to produce between 60,000 and 70,000 cars this year, versus... More