After-hours movers: Microvast sinks on report of major contract loss, Zoom gains following EPS

Premier Ford says fate of Stellantis (STLA) EV battery plant in hands of federal government

Last week, Stellantis (NYSE: STLA) and its partner LG Energy Solutions halted construction on its $3.7 billion EV battery plant in Windsor, claiming the federal government has not delivered what was agreed to.

The new auto plant was announced in March last year, but tensions emerged when the United States passed the Inflation Reduction Act (IRA), a massive package of clean-tech incentives for companies.

Early last week, Canada's Industry Minister Francois-Philippe Champagne said the federal government had increased its planned support for Stellantis and that to... More

BMW unveils new electric i5 with 295-mile range

The BMW Group unveiled its new 2024 BMW i5 during a digital world premiere on Wednesday after teasing glimpses of its first all-electric 5 Series for weeks.

As a combustion model, the 5 Series has held a prominent position in the company's lineup since 1972, and it continues to be the second best-selling vehicle for the German automaker behind the 3 Series. It has been known for a while now that BMW has been actively developing an all-electric version of the 5 Series, alongside plug-in hybrids and traditional combustion engine options.

With its unmistakable resemblance to the 5 Series,... More

Mercedes is bringing an electric CLA sedan to US to challenge Tesla's Model 3

Mercedes-Benz held their annual North American dealer meeting last week where the automaker emphasized its transition into the electric era. To maintain and further accelerate their progress, Mercedes informed dealers about the exciting array of electric vehicles (EVs) they have in store. Among the upcoming additions in 2024 are an electric CLA sedan and a GLC crossover, both contributing to the expanding lineup of EVs.

In the first quarter, the U.S. vehicle... More

Shanghai invites GM to expand investments and R&D in the city

Shanghai wants General Motors (NYSE: GM) to increase the companys investment in research and development and bring in more products and advanced technologies to this year's China International Import Expo, according to the city government.

During a meeting with GM's chairwoman Mary Barra,... More

Microvast Holdings (MVST) Responds to DOE Decision to Withdraw Separator Grant

Microvast Holdings, Inc. (NASDAQ: MVST) (Microvast or the Company), a technology innovator that designs, develops, and manufactures lithium-ion battery solutions, responded today to the U.S. Department of Energys (DOEs) recent decision to withdraw its previously announced $200 million separator grant.

Yang Wu, Microvasts founder, chairman, President, and Chief Executive Officer, said the Company is surprised by the DOEs decision to withdraw the grant, which was designed to help build a new facility in Kentucky that would employ hundreds of people. Microvast is based in Texas, its shares are traded on... More

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