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

Stellantis (STLA) appoints Aamir Ahmed to lead Fiat brand in North America

Stellantis (NYSE: STLA) announced Thursday the appointment of Aamir Ahmed to lead the Fiat brand in North America, effective immediately.

Throughout his career, Aamir Ahmed has taken on increasingly important roles, gaining extensive experience and a strong understanding of customer needs and technology.... More

VinFast to recall initial batch of US-bound EVs over safety concerns

Vietnamese electric automaker VinFast revealed Thursday its decision to recall the entire initial shipment of vehicles it sent to the United States last year. This action comes in response to a safety advisory issued by U.S. authorities.

VinFast made the decision after the U.S. National Highway Traffic Safety Administration (NHTSA) flagged a software issue in the dashboard display of 999 VF 8 vehicles. This glitch prevented critical safety information from being shown, posing a potential risk of crashes.

The... More

Senate Republicans call for Biden to scrap plans to cut emissions and ramp EV sales

A coalition of 27 Senate Republicans spoke out Thursday, calling on the Biden administration to abandon its proposal to significantly reduce vehicle emissions by 2032 and accelerating the adoption of electric vehicle sales.

In a letter led by West Virginia Senator Shelley Moore Capito, lawmakers said the administration plan will "effectively mandate a costly transition to electric cars and trucks in the absence of... More

Stellantis (STLA) invests in Lyten’s lithium-sulfur EV battery technology

Stellantis (NYSE: STLA) announced Thursday that the American automaker has invested in advanced materials company, Lyten to accelerate the commercialization of the start-ups 3D Graphene applications for the mobility industry, including the LytCell Lithium-Sulfur EV battery. No financial or other details of the transaction were provided.

The investment, through Stellantis' venture capital arm... More

Daiwa boosts estimates on Ford (F), sees potential in Ford Pro segment

Daiwa upgraded Ford Motor (NYSE: F) to a Neutral rating (From Underperform) and reiterated their 12-month price target of $12.00 for the stock after attending the automakers Investor Day, held over May 21st-22nd.

The presentations delivered by segment leaders primarily focused on strategies aimed at attaining mid-term margin goals. Notably, the Ford Pro division stood out due to its robust market position, diversified end markets, and the potential to generate... More

Morgan Stanley remains Bullish as Tesla's (TSLA) Elon Musk continues to hold meetings with world leaders

Morgan Stanley reiterated an Overweight rating on Tesla (NASDAQ: TSLA) with a 12-month price target of $200.00 following the companys CEO Elon Musks accelerating number of meetings with world leaders concerning future investment opportunities.

Analyst Adam Jonas compiled a list of countries with recent headlines of Musk meeting with officials, exhibiting relevant goals for industrializing or other factors making them relevant for... More

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

Jaguar Land Rover-owner set to choose UK over Spain for EV battery plant

The BBC reports Wednesday that Tata Motors, parent company to Jaguar Land Rover Automotive, is set to pick Britain for a multi-billion dollar electric vehicle battery plant. A plant some have described as the most significant investment in UK automotive since Nissan came to Britain in the 1980s.

A Tata chairman is expected to fly to London next week to meet the prime minister and finalize the deal to build the battery factory, which could employ 9,000 people in Somerset,... 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

Tesla (TSLA) likely to pick new factory location by years end, says India 'absolutely' an interesting option

Elon Musk, the multi-billionaire CEO of Tesla (NASDAQ: TSLA), made an appearance at the CEO Council conference hosted by the Wall Street Journal on Tuesday. During the event, he suggested that Tesla might unveil a new factory as part of its global expansion before the year ends.

The CEO didnt give any indications on where the new factory would be located, but agreed with the moderator that India was... 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

California Seeks EPA Approval To Ban Sales Of New Gasoline-only Vehicles By 2035 - Reuters

California Seeks EPA Approval To Ban Sales Of New Gasoline-only Vehicles By 2035 - Reuters

Active options: TSLA AMZN PLTR AMD AAPL PFE NVDA MSFT GOOGL

Active options: TSLA AMZN PLTR AMD AAPL PFE NVDA MSFT GOOGL

Tesla to pick location for new factory this year, Musk says

(Reuters) -Tesla Inc Chief Executive Officer Elon Musk said on Tuesday the automaker would probably pick a location for a new factory by the end of this year.

When the Wall Street Journal's Thorold Barker asked Musk at an event if India was interesting, he said, "Absolutely".

Tesla is "serious" about its plans to establish a manufacturing base in... 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

Tesla (TSLA) 30-day option IV near low end of range

Tesla (NASDAQ: TSLA) 30-day option implied volatility is at 48; compared to its 52-week range of 44 to 96.

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

U.S. has 'real concern' about Tesla Autopilot driver interaction

By David Shepardson

WASHINGTON (Reuters) -U.S. Transportation Secretary Pete Buttigieg said Tuesday there are concerns about the interaction between Tesla's advanced driver assistance system Autopilot and drivers that is the subject of an ongoing government investigation.

Since August 2021, the National Highway Traffic Safety Administration (NHTSA) has been investigating a series of Tesla crashes involving Autopilot and with parked emergency vehicles and whether Tesla vehicles adequately ensure drivers are paying attention.

"There is a real concern that's not limited to the technology... More

Analysis-Ford offers investors big bets but finds few takers

By Joseph White

DEARBORN, Michigan (Reuters) - Ford Motor Co CEO Jim Farley has yet to convince investors the automakers next generation of electric vehicles can hit 2026 profit targets, but he is already worrying about the third generation of Ford EVs that will launch late in this decade.

"The third cycle of connected, digital products will be different," Farley said on Monday during a discussion with several analysts at the end of Ford's Capital Markets Day. "You have to be competitive with BYD and Tesla."

Even if Ford hits its goal of boosting EV pretax... 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

Active options: TSLA AMD PLTR AAPL AMZN ZM UPST MSFT GOOGL

Active options: TSLA AMD PLTR AAPL AMZN ZM UPST MSFT GOOGL

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

Oppenheimer Weighs in on Tesla (TSLA) Following Austin Factory Tour

Oppenheimer analyst Colin Rusch reiterated a Perform rating on Tesla (NASDAQ: TSLA) following an Austin factory tour.

The analyst commented, "With Austin production clearly accelerating from Analyst Day levels, we see TSLA investing in important innovations to enabling scaling, increased simplicity, and... 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

Tesla offers China-made electric vehicles for sale in Canada

(Reuters) - Tesla is listing China-made Model 3 and Model Y models for sale in Canada, the companys website showed on Tuesday, confirming the electric car maker has completed its first shipments to North America from its Shanghai factory.

Teslas website showed both rear-wheel drive Model Y vehicles and the long-range, all-wheel drive version of the Model 3 available for immediate delivery in British Columbia, with codes showing they were manufactured at Teslas Gigafactory Shanghai.

Both models qualify for federal incentives of C$5,000 ($3,700) in Canada, which, unlike the United States, does not link electric-vehicle subsidies to the... More

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

After-Hours Stock Movers:

Microvast Holdings (NASDAQ: MVST) 28% LOWER; U.S. Energy Department Cancels Contract Negotiations On $200 Million Award For - Reuters

Guardant Health, Inc. (Nasdaq: GH) 7% LOWER; announced that it has commenced an underwritten public offering of $250.0 million of its common... More

General Motors (GM) CFO buys $1 million in stock

General Motors (NYSE: GM) CFO, Paul Jacobson, bought 31,000 shares 05/19/23 at $32.60.

The value of the purchase was just over $1 million.

Shares of GM are down 2.3% YTD.

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

Ford Motor (F) option IV low as shares sell off 1.5% amid capital market day

Ford Motor (NYSE: F) 30-day option implied volatility is at 32 as shares sell off 1.5% amid capital market day.

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

SQM (SQM) Announces Long-Term Lithium Supply Agreement with Ford Motor Company (F)

Sociedad Química y Minera de Chile S.A. (SQM) (NYSE: SQM; Santiago Stock Exchange: SQM-B, SQM-A) and Ford Motor Company have announced a long-term strategic agreement to secure the supply of high-quality lithium products for production of electric vehicles.

... More

Tesla (TSLA) Climbs 2.9%

Tesla (NASDAQ: TSLA) Climbs 2.9%

Ferguson plc (FERG), Alphabet (GOOG), Tesla (TSLA), Coupang (CPNG) at top buy stock for Russell rebalancing - Jefferies

(Updated - May 22, 2023 9:50 AM EDT)

Jefferies' analyst Steven DeSanctis weighed in on the Russell rebalancing and list the top stocks by buying and selling pressure by dollars and days.

Buying Pressure by Dollars:

Active options: TSLA META GOOGL AAPL AMZN NVDA AMD

Active options: TSLA META GOOGL AAPL AMZN NVDA AMD

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

Compass Minerals (CMP) Signs Binding Multiyear Agreement to Supply Ford Motor Company (F) with Battery-Grade Lithium Carbonate

Compass Minerals (NYSE: CMP), a leading global provider of essential minerals, today announced the signing of a binding, multiyear supply agreement to provide Ford Motor Company (Ford; NYSE: F), a global auto manufacturer, with battery-grade lithium carbonate from its Ogden, Utah, lithium brine development project.

We are excited to formalize a long-term relationship with Ford, one of the most trusted and iconic brands in the automotive industry and a leader in the transition to vehicle electrification, said Kevin S. Crutchfield, president and CEO. We look forward to... More

Stellantis: Bernstein signals potential upside, but beware of macro risks

Investing.com - Stellantis (NYSE: STLA) can offer a 7% premium compared to current prices according to Bernstein analysts, who have a Market Perform rating on the Italian-French automaker with a target price of 17 euros.

In a report on the European auto sector, analysts noted that at the beginning of 2023 all macro indicators pointed "the wrong way," but five months into the year "the data is not... More

Albemarle (ALB) Establishes Strategic Agreement With Ford Motor (F)

Albemarle Corporation (NYSE: ALB), a global leader in providing essential elements for mobility, energy, connectivity and health, today announced a definitive agreement with Ford Motor Company (NYSE: F) to deliver battery-grade lithium hydroxide to support the automaker's ability to scale electric vehicle (EV) production.

Albemarle will supply more than 100,000 metric tons of battery-grade lithium hydroxide for approximately 3 million future Ford EV batteries.... More

Ford Motor (F) and Nemaska Lithium enter long-term lithium hydroxide supply agreement

Ford Motor Company (NYSE: F) has entered into a long-term agreement with Nemaska Lithium for the supply of lithium products, including lithium hydroxide, over an 11-year period. The agreement calls for the delivery of up to 13,000 tons of lithium hydroxide per year. The agreement also provides that prior to commencing delivery of lithium hydroxide produced in Bécancour, Nemaska Lithium will supply Ford with spodumene concentrate from... More

Ford seeks to reassure investors with EV, cost cut plans

By Joseph White, David Shepardson and Ernest Scheyder

DEARBORN, Michigan (Reuters) - Ford Motor Co on Monday unveiled an ambitious strategy to profitably ramp up electric vehicle sales but faces a challenge to slash $7 billion in costs and regain credibility on Wall Street.

"You're not going to believe us until we start delivering it," Ford Chief Financial Officer John Lawler said at an investor day presentation. "Because we've told you this before. That's the truth. We have and we haven't delivered. So we have to prove it. We can talk about it, but we have to prove it."

Ford Motor (F) Says Ford+ is Maximizing Value for Customers, Improving Business Resilience, Efficiency, Growth, Margins

Less than two quarters into full deployment, the teams behind the Ford+ (NYSE: F) growth plans new customer-centered business segments are redefining customer value, while at the same time reducing cyclicality, improving capital efficiency, and generating profitable growth and strong free cash flow.

Thats the essential message of CEO Jim Farley, CFO John Lawler and other Ford leaders to hundreds of investors, analysts and others attending the companys capital markets event today in-person and virtually.

The program will be livestreamed, with supporting material, via... More

Ford Motor (F) option implied volatility into capital market day

Ford Motor (NYSE: F) 30-day option implied volatility is at 32 into capital market day.

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

Tesla offering discounts of over $1,300 on some U.S. Model 3 cars-website

By Hyunjoo Jin

San Francisco (Reuters) - Tesla is offering discounts of more than $1,300 on some Model 3 cars in its U.S. inventory following even heavier discounts in Europe, according to a Reuters' review of its website, even as the electric carmaker has raised U.S. prices on most newly ordered cars this month.

Facing economic headwinds and mounting competition, Tesla this year has aggressively cut vehicle prices in several regions and is resorting to the traditional automakers' tactic of offering incentives to clear inventory, analysts said.

On Tuesday, CEO Elon Musk told shareholders Tesla will... 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

Meta (META) already testing its Twitter competitor with influencers, may debut as soon as June

(Updated - May 19, 2023 1:48 PM EDT)

Meta Platforms (NASDAQ: META) is set to release its rumored Twitter competitor as soon as next month, Bloomberg reported on Friday.

According to people familiar with the matter, Instagram, the company's subdivision known for its eponymous... 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

Meta's (META) Instagram Readies Twitter Competitor For Summer Release - Bloomberg

Meta's (META) Instagram Readies Twitter Competitor For Summer Release - Bloomberg

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

The Biden-Harris administration, on Thursday announced a $51 million Ride and Drive Electric funding opportunity through President Bidens Bipartisan Infrastructure Law to accelerate the electrification of the nations transportation sector and spur private sector investments in clean transportation.

This funding will help to increase reliability of chargers by providing funding for validating and testing charging equipment and increase opportunities for underserved communities through new jobs and training resources.

Thanks to President Bidens Investing in America agenda, we are developing a... 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.