U.S. administration announces $51M investment towards EV charging network

California pushes Biden Admin to ban sales of new gas-vehicles by 2035

According to an exclusive report from Reuters on Tuesday, California's Air Resources Board (CARB) has asked the Biden administration to give the green light to a plan that would require all new vehicles sold in the state by 2035 to be either electric or plug-in electric hybrids. This landmark move, mentioned in a letter seen by Reuters, could help hasten the... More

Construction at Stellantis (STLA) LG battery plant remains at a standstill

Construction of a Stellantis (NYSE: STLA) battery plant in Windsor, Ontario remains at a standstill after the automotive giant, and its partner LG Energy Solution, halted progress on May 15 when the companies alleged the federal government wasnt holding up its end of a deal potentially worth billions in incentives.

In a letter dated... More

Ford (F) reverses decision, will continue to include AM radio

Ford (NYSE: F) CEO Jim Farley announced Tuesday that the Detroit automaker is reversing a previous decision to remove AM radio from its vehicles, both electric and gasoline, in 2024.

Farley, in a post on his LinkedIn professional page and a tweet on Twitter, said, "After speaking with policy leaders about the importance of AM broadcast radio as a part of the emergency alert system, we've decided to include it on all 2024 Ford & Lincoln vehicles. For any owners of Ford EVs... More

Secretary Buttigieg voices 'real concern' over Tesla (TSLA) autopilot driver interaction

U.S. Transportation Secretary Pete Buttigieg voiced his concerns Tuesday over the interaction between Teslas (NASDAQ: TSLA) full self-driving program and drivers.

"There is a real concern that's not limited to the technology itself but the interaction between the technology and the driver," Buttigieg told reporters when asked about the Tesla Autopilot probe.

This issue has been under investigation by the National Highway Traffic Safety Administration (NHTSA) since 2021,... More

NIO Inc. (NIO) to hold ES6 launch event Wednesday

Chinese electric automaker NIO Inc. (NYSE: NIO) announced Tuesday that that it expects to host the all-new ES6 launch event in China on Wednesday, May 24, 2023.

The event will start at 7:00 AM U.S. Eastern Time and the live video webcast will be accessible on multiple platforms in Mandarin Chinese, including nio.cn and NIO app.

The ES6 and an ET7 sedan will... More

Oppenheimer remains sidelined on Tesla (TSLA), acknowledges innovation and production milestones

Oppenheimer reiterated a Perform rating on Tesla (NASDAQ: TSLA) after visiting the electric automakers factory in Austin Texas. Austin production reached 5K vehicles/week in May shortly after Berlin.

Based on Oppenheimer's analysis, the current production of 4680 batteries is on track to sustain a rate of 1,000 vehicles per week. They anticipate that Tesla will primarily dedicate the majority of its 4680 battery capacity to support the ramp-up of the Cybertruck production, considering the improved availability of... More

Tesla (TSLA) expands Canadian market with China-made Model 3 and Model Y vehicles

Tesla's (NASDAQ: TSLA) website confirmed on Tuesday that the electric vehicle company has officially made China-produced Model 3 and Model Y models available for purchase in Canada. This announcement confirms that Tesla has successfully completed its initial shipments from its Shanghai factory to North America.

The website showed both... More

Ford (F) explores cost management at its Capital Markets Day

Ford Motors (NYSE: F) held their Capital Markets Day on Monday in Dearborn, Michigan where the company focused on the steps they are taking to meet longer-term profit targets, including actions related to cost, software and services, and product mix.

Ford reiterated its long-term goal of achieving a 10% EBIT margin by 2026, with the Model e segment aiming for 8%. The Ford Blue division is anticipated to achieve a double-digit EBIT margin, while Ford Pro is expected to reach a mid-teen EBIT margin. Ford's production forecast for the Model e assumes the manufacturing of 2... More

Exxon (XOM) quietly joins lithium hunt as EV demand continues to grow

A Wall Street Journal exclusive reports over the weekend that the oil and gas company, Exxon Mobil (NYSE: XOM) recently purchased drilling rights to a sizable chunk of Arkansas land from which it aims to produce lithium, a key ingredient in batteries for electric cars, cell phones and laptops.

Exxon has reportedly acquired... More

Ford (F) details newest electric SUV at Delivering Ford+ Capital Markets day

Ford Motor (NYSE: F) held its Delivering Ford+ capital markets day on Monday where new chief officer of EVs and digital systems, Doug Field released details surrounding the companys newest upcoming three-row electric SUV.

The model will be sized like the Expedition, but won't replace it, as the two will be sold alongside each other and aimed at different customers.

"We could've converted an Expedition into an EV,... More

CEO Jim Farley says Ford (F) will stop competing in over-served markets

Ford (NYSE: F) CEO Jim Farley revealed at the Detroit automakers capital markets day Monday, that the company will stop competing in over-served market segments and instead will place big bets on connected vehicles and digital services.

Farley said the company has been stuck in a box, with thin profit margins, weak growth and low stock valuation.

The CEO said that Ford will emphasize software and services as well as iconic vehicles... More

Ford (F) signs battery supply deals ahead of EV ramp

Ford (NYSE: F) revealed Monday that the Detroit automaker has signed multiple deals for the supply of lithium products, including lithium hydroxide, as the automaker ramps up electric vehicle (EV) production to 2 million units by the end of 2026, an increase from their previously projected 600,000 by the end of this year.

These agreements are a response to the... More

Ford (F) to detail EV strategies at 'Delivering Ford+' Capital Markets Day

Detroits Ford Motor (NYSE: F) will be hosting its capital markets day on Monday, where the automotive giant has promised to detail their plans to meet its previously announced targets for 8% EBIT margin target for its electric vehicle division and a production run rate of 2 million electric vehicles by 2026, a significant increase from the projected 600,000 by the end of this year.

We will take you through why we believe that 8% margin is totally realistic despite all the pricing pressure that we will absolutely get because everyone wants to grow, CEO Jim Farley said during... More

Gotion High-Tech launches 1000km range EV battery

Chinese battery maker, Gotion High-Tech on Friday launched its in-house L600 Astroinno battery cell and pack under the LMFP lineup at the 12th Gotion Technology Conference. The companye new battery features a range of up to 1000km, setting a precedent for developing NCM-free batteries. The batterys debut follows a procurement letter from Volkswagen designating Gotion as a supplier for the automaker's overseas markets.

Dr. Cheng Qian, Executive President of the International Business Unit of Gotion High-Tech, who released... More

Lawsuit claims Revel driver experienced 'unintended acceleration' in Tesla (TSLA)

A driver for electric ridesharing startup, Revel is suing Tesla (NASDAQ: TSLA) over claims of "unintended acceleration". The plaintiffs lawyer noted that a Tesla suddenly and automatically took off, forcing the driver to crash the vehicle.

The lawsuit was filed earlier this week with the New York State Supreme Court. The filing noted that plaintiff Akm Shamsuzzaman showed up for work at Revel Transit, where he was employed as a driver, on January 29 and was assigned to... More

Ontario boosts financial support for Stellantis (STLA) to resume battery plant

On Friday, Premier Doug Ford of Ontario announced that his government would increase its financial support to help Stellantis (NYSE: STLA)) resume construction of its battery plant in Canada.

Stellantis on Monday halted construction at its $3.7 billion electric-vehicle battery plant in Canada, which is being built in partnership with South... More

Tesla (TSLA) Outperforms Nasdaq, Up 2.2%

Tesla (NASDAQ: TSLA) Outperforms Nasdaq, Up 2.2%

Active options: TSLA PLTR GOOGL NVDA AAPL AMD GOOG META

Active options: TSLA PLTR GOOGL NVDA AAPL AMD GOOG META

Deutsche Bank 'encouraged' by Tesla (TSLA) following tour of Texas Gigafactory

Deutsche Bank reiterated a Buy rating on Tesla (NASDAQ: TSLA) and maintained their 12-month price target on the stock at $200.00 after hosting investors in Austin for a guided tour of the electric automakers Texas Gigaplant. They also held meetings with the companys Head of IR Martin Viecha and Director Travis Axelrod.

Analyst Emmanuel Rosner was, once again, impressed with the plant, which he says is well designed and runs very efficiently, and is clearly making good progress in ramping up both vehicles and battery cells volumes, and in installing tooling for... More

Tesla (TSLA) Tesla 'serious' about establishing presence in India says Minister

During an interview with Reuters on Friday, the Deputy Minister for Technology of India said that Tesla Inc. (NASDAQ: TSLA), the electric automaker, is "serious" about plans to establishing a manufacturing presence in the country. This week, Tesla engaged in discussions with Indian officials, covering multiple subjects such as incentives for car and battery manufacturing,... More

BofA's Hartnett says artificial intelligence (AI) is a 'baby bubble' for now

The highlight of the stock market in 2023 has been The Magnificent Seven i.e. the surge in shares of the mega-cap tech stocks, Bank of Americas Michael Hartnett writes in his regular weekly column.

The Big 7 monopolistic U.S. Tech stocks - Apple (NASDAQ: AAPL), Microsoft (NASDAQ: MSFT), Google (NASDAQ:... More

Tesla 'serious' on establishing India production, innovation base, minister says

By Munsif Vengattil and Aditya Kalra

NEW DELHI (Reuters) - Tesla Inc is "serious" about its plans to establish a manufacturing base in India, the country's deputy minister for technology told Reuters in an interview on Friday, a day after meeting senior executives of the electric vehicle maker.

The Elon Musk led U.S. automaker held talks with Indian officials this week on various topics including incentives for car and battery manufacturing, Reuters reported on Thursday, as Tesla looks anew at entering the Indian market.

"They are... More

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.

Tesla (TSLA) brand loyalty trended higher in recent years, 'maintains an impressive loyalty lead' - Citi

Citi analyst Ita Michaeli said in a note Thursday that electric vehicle giant Tesla (NASDAQ: TSLA) maintains an impressive loyalty lead.

Michaeli, in his note assessing US auto firms, explained that the Elon Musk-led company continues to sport the industry's "most impressive loyalty... More

Active options: TSLA NVDA AMZN AMD NFLX PLTR AAPL BABA MU

Active options: TSLA NVDA AMZN AMD NFLX PLTR AAPL BABA MU

Ford recalls 422,000 SUVs because rear view camera display may fail

By David Shepardson

WASHINGTON (Reuters) -Ford Motor Co is recalling 422,000 sport utility vehicles in the United States because the video output may fail even after getting a prior recall repair, preventing the rear view camera image from displaying.

The new recall covers 2020 through 2023 Ford Explorer, Lincoln Aviator, and 2020-2022 Lincoln Corsair SUVs with a 360-degree camera.

The recall expands and replaces prior... More

Tesla (TSLA) Maintains an Impressive Loyalty Lead - Barclays

Barclays analyst Itay Michaeli on Tesla (NASDAQ: TSLA): "Tesla continues to sport the industrys most impressive loyalty metrics, holding a ~67% brand loyalty rate (LTM as of Q1) vs. ~46% for luxury brands. Just as impressive is that Teslas brand loyalty has actually trended... More

Tesla (TSLA) Held Discussions On Local Incentive Plans, Auto Sector Policies In Meetings With Indian Officials - Reuters

Tesla (TSLA) Held Discussions On Local Incentive Plans, Auto Sector Policies In Meetings With Indian Officials - Reuters

HSBC Reiterates Buy Rating on Stellantis NV (STLA:IM) (STLA)

HSBC analyst Michael Tyndall reiterated a Buy rating and EUR21.00 price target on Stellantis NV (STLA:IM) (NYSE: STLA).

Ford Motor (F) option IV at low end of range

Ford Motor (NYSE: F) 30-day option implied volatility is at 32; compared to its 52-week range of 32 to 587.

Tesla (TSLA) option IV at low end of range

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

Tesla held talks with India on auto incentives, battery making -source

By Aditi Shah, Aditya Kalra and Munsif Vengattil

NEW DELHI (Reuters) -Tesla Inc has held discussions with officials about incentives being offered by India for car and battery manufacturing, said a person with direct knowledge of the talks, as the automaker looks anew at entering the Indian market.

The U.S. electric car maker has proposed setting up a factory in India to build electric vehicles (EVs), Reuters reported on Wednesday. Plans to locally manufacture EV batteries are also being discussed, said the person with direct knowledge.

Tesla is "still testing the waters and trying to... More

Stock market today: Dow rallies 400 points on debt ceiling deal optimism

Investing.com -- U.S. stocks surged on Wednesday amid optimism on the debt ceiling negotiations as retailers continue to report first-quarter earnings.

At 16:01 ET, the Dow Jones Industrial Average closed up 409 points or 1.2%, while the S&P 500 was up 1.2% and the NASDAQ Composite was up 1.3%.

The debt ceiling talks in Washington continue after top-ranking lawmakers met with President Joe Biden at the White House on Tuesday. The sides are trying to hammer out differences as the deadline for when the U.S. risks a default quickly... More

Active options: TSLA AMZN AAPL NVDA AMD GOOGL BABA META

Active options: TSLA AMZN AAPL NVDA AMD GOOGL BABA META

Stocks are surging on optimism about possible debt ceiling deal

Investing.com -- U.S. stocks surged on Wednesday amid optimism on the debt ceiling negotiations as retailers continue to report first-quarter earnings.

At 13:54 ET, the Dow Jones Industrial Average was up 426 points or 1.3%, while the S&P 500 was up 1.3% and the NASDAQ Composite was up 1.3%.

The debt ceiling talks in Washington continue after top-ranking lawmakers met with President Joe Biden at the White House on Tuesday. The sides are trying to hammer out differences as the deadline for when the U.S. risks a default quickly approaches.... More

Midday movers: Western Alliance Bancorp, Tesla, Target and more

Investing.com -- Stocks were rising on Wednesday over optimism that a deal on the debt ceiling would get done to help the U.S. avoid a potential default. Here are the market movers for May 17.

Fisker (FSR) explores collaboration with other companies

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

Ford Motor (F) option IV near low end of range as shares trade below $12

Ford Motor (NYSE: F) 30-day option implied volatility is at 33; compared to its 52-week range of 32 to 587. Call put ratio 2.6 calls to 1 put.

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

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

U.S. stocks are rising on optimism about debt ceiling talks

Investing.com -- U.S. stocks were rising amid optimism on the debt ceiling negotiations as retailers continue to report first quarter earnings.

At 10:13 ET (14:13 GMT), the Dow Jones Industrial Average was up 55 points or 0.2%, while the S&P 500 was up 0.2% and the NASDAQ Composite was up 0.1%.

The debt ceiling talks in Washington continue after top-ranking lawmakers met with President Joe Biden at the White House on Tuesday. The sides are trying to hammer out differences as the... More

Ford (F) joins Stellantis (STLA) in calls for extension of post-Brexit trade rules

American automaker, Ford (NYSE: F) on Wednesday called for the post-Brexit EU trade requirements on rules of origin for electric vehicles (EVs) to delayed until 2027 from 2024, saying tariffs will add pointless costs for consumers and slow the transition to electric.

"Ford is calling for current trade requirements to be extended to 2027, to allow time for the battery supply chain to... More

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

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

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

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

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

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 (TSLA) to finally enter India, will build a local EV factory for domestic sales and export

Tesla (NASDAQ: TSLA) is looking to further expand its global footprint with a new EV factory in India, as reported by Reuters early Wednesday.

According to a "source with direct knowledge of the matter," the new plant, if materialized, will produce cars for both domestic sales and... More

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

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

Target, TJX and EVgo fall premarket; Western Alliance and Tesla rise

Investing.com -- Stocks in focus in premarket trade on Wednesday, May 17th. Please refresh for updates.

Target (NYSE: TGT) stock fell 0.9% after the retail giant forecast a gloomy second quarter even as it maintained its 2023 annual profit expectation after beating first-quarter results, benefiting from steady demand for beauty... More

Tesla restarts India market talks with new factory proposal - source

By Aditya Kalra and Aditi Shah

NEW DELHI (Reuters) -Tesla Inc has proposed setting up a factory in India to build electric cars for domestic sale and export, the carmaker told government officials on Wednesday, according to a source with direct knowledge of the matter.

The proposal comes after India refused to agree to Tesla's request last year to lower the import tax on cars, which can reach as much as 100%. India wanted the carmaker... More

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

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

Tesla (TSLA) Had No Discussion On Lowering Import Taxes On Electric Cars With Indian Officials - Reuters

Tesla (TSLA) Had No Discussion On Lowering Import Taxes On Electric Cars With Indian Officials - Reuters

Tesla (TSLA) Proposes Setting Up EV Manufacturing Plant In India, In Talks With Govt Officials - Reuters

Tesla (TSLA) Proposes Setting Up EV Manufacturing Plant In India, In Talks With Govt Officials - Reuters

6 key takeaways from Tesla's (TSLA) shareholder meeting - Bernstein

Bernstein analyst Toni Sacconaghi reiterated an Underperform rating and $150.00 price target on Tesla (NASDAQ: TSLA). Six key takeaways from the meeting:

Wedbush Reiterates Outperform Rating on Tesla (TSLA) after annual meeting

Wedbush analyst Daniel Ives reiterated an Outperform rating and $215.00 price target on Tesla (NASDAQ: TSLA).

"While Musk cited a choppy macro for the next year we heard an optimistic Musk with Tesla set to have a strong year of innovation and... More

CFRA Reiterates Buy Rating on Tesla (TSLA) after annual meeting

CFRA analyst Garrett Nelson reiterated a Buy rating and $250.00 price target on Tesla (NASDAQ: TSLA).

"We consider comments coming out of TSLA's annual meeting a positive. CEO Elon Musk said it remains on track to achieve first deliveries of the... More

CFRA Reiterates Strong Buy Rating on Tesla (TSLA) Following Comments from Annual Meeting

CFRA analyst Garrett Nelson reiterated a Strong Buy rating and $250.00 price target on Tesla (NASDAQ: TSLA) saying they view comments coming out of TSLA's annual meeting a positive.

The analyst commented, "CEO Elon Musk said it remains on track to achieve first... More

Active options: TSLA AMD NVDA AMZN GOOGL AAPL GOOG MSFT AMC HZNP

Active options: TSLA AMD NVDA AMZN GOOGL AAPL GOOG MSFT AMC HZNP

Tesla (TSLA) May option implied volatility into annual shareholder meeting

Tesla (NASDAQ: TSLA) May call option implied volatility is at 58, June is at 49; compared to its 52-week range of 45 to 96 into annual shareholder meeting.