Jaguar Land Rover-owner set to choose UK over Spain for EV battery plant
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- Wall Street ends lower on semiconductor selloff as AI spending concerns mount
- Alphabet added to Dow Jones Industrial Average, Verizon dropped
- Chip stocks plunge, but bargain-hunters limit scale of tech rout
- FedEx falls 4% as CY2026 profit forecast misses expectations despite Q4 beat
- Oil prices finish 1% lower as investors focus on Hormuz flows after peace talks
- Exclusive-China robot-hand-building unicorn Linkerbot targets $6 billion valuation
- Spain's ex-transport minister sentenced to 24 years for corruption
- Needham Starts NeoVolta (NEOV) at Buy
- China, US, UAE police arrest 276 telecom fraud suspects in Dubai
- Li Auto Inc. (LI) Breaks Ground on Chips R&D and Production Base
Stellantis (STLA) appoints Aamir Ahmed to lead Fiat brand in North America
May 25, 2023 2:57 PM EDTStellantis (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
May 25, 2023 2:43 PM EDTVietnamese 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
May 25, 2023 1:42 PM EDTA 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
May 25, 2023 11:30 AM EDTStellantis (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
Morgan Stanley remains Bullish as Tesla's (TSLA) Elon Musk continues to hold meetings with world leaders
May 25, 2023 10:27 AM EDTMorgan 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
Barclays downgrades Xpeng (XPEV) following disappointing 1Q miss
May 25, 2023 9:52 AM EDTBarclays downgraded XPeng Inc. (NYSE: XPEV) to an Underweight rating and cut their 12-month price target on the stock to $6.00 (From $8.00) following the electric automakers disappointing 1Q earnings results.
Xpeng reported total revenue of RMB 4.0bn, -45.9% yoy, -2.1% lower than Barclays estimate. Vehicle sales were RMB 3.5bbn, -49.8% yoy, -4.1% lower than expected due to lower-than-expected vehicle deliveries and to a much smaller extent the expiry... More
Premier Ford says fate of Stellantis (STLA) EV battery plant in hands of federal government
May 24, 2023 3:39 PM EDTLast 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
May 24, 2023 2:28 PM EDTThe 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
May 24, 2023 1:52 PM EDTMercedes-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
May 24, 2023 11:32 AM EDTElon 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
Active options: TSLA AMZN AAPL NVDA PLTR NIO AMD NFLX PANW
May 24, 2023 9:59 AM EDTActive options: TSLA AMZN AAPL NVDA PLTR NIO AMD NFLX PANW
... MoreKohl's, Urban Outfitters, Abercrombie&Fitch rise premarket; XPeng, Agilent fall
May 24, 2023 8:11 AM EDTInvesting.com -- Stocks in focus in premarket trade on Wednesday, May 24th. Please refresh for updates.
Kohls (NYSE: KSS) stock soared 11.6% after the retailer reported a surprise profit, while maintaining its full-year profit and operating margin forecasts even as it missed first-quarter sales... More
XPeng (XPEV) sinks following 1Q miss and weak forecast
May 24, 2023 8:08 AM EDTShares of Chinese electric automaker XPeng Inc. (NYSE: XPEV) are down more than 5% in pre-market trading on Wednesday following its disappointing Q1 earnings report that fell short of expectations.
The automaker reported a RMB2.57 loss per adjusted diluted share, missing the consensus of (RMB1.92). Meanwhile, total revenue was reported at RMB4.03 billion (US$0.59 billion), missing consensus of RMB5.15 billion, representing a decrease of 21.5%... More
XPeng Inc. (XPEV) sinks nearly 6% on Q1 miss
May 24, 2023 6:55 AM EDTXPeng Inc. (NYSE: XPEV) is trading down 5.6% following a Q1 miss on the top and bottom line
reported Q1 EPS of (RMB2.57), RMB0.65 worse than the analyst estimate of (RMB1.92). Revenue for the quarter came in at RMB4.03 billion versus the consensus estimate of... MoreXPeng (XPEV) Misses Q1 EPS by 65c, Misses on Revenue, Delivers 18,230 EVs; Offers Q1 Guidance
May 24, 2023 6:04 AM EDTXPeng Inc. (NYSE: XPEV) reported Q1 EPS of (RMB2.57), RMB0.65 worse than the analyst estimate of (RMB1.92). Revenue for the quarter came in at RMB4.03 billion versus the consensus estimate of RMB5.15 billion.
For the quarter the company delivered 18,230 EVs.... More
NIO Inc. (NIO) option implied volatility into Nio to hold ES6 launch event
May 24, 2023 4:28 AM EDTNIO Inc. (NYSE: NIO) 30-day option implied volatility is at 71; compared to its 52-week range of 63 to 110 into Nio to hold ES6 launch event.
... MoreCalifornia pushes Biden Admin to ban sales of new gas-vehicles by 2035
May 23, 2023 4:46 PM EDTAccording 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
California Seeks EPA Approval To Ban Sales Of New Gasoline-only Vehicles By 2035 - Reuters
May 23, 2023 4:11 PM EDTCalifornia Seeks EPA Approval To Ban Sales Of New Gasoline-only Vehicles By 2035 - Reuters
... MoreActive options: TSLA AMZN PLTR AMD AAPL PFE NVDA MSFT GOOGL
May 23, 2023 3:39 PM EDTActive options: TSLA AMZN PLTR AMD AAPL PFE NVDA MSFT GOOGL
... MoreNIO Inc. (NIO) option implied volatility flat into Nio to hold ES6 launch event
May 23, 2023 3:36 PM EDTNIO Inc. (NYSE: NIO) 30-day option implied volatility is at 71; compared to its 52-week range of 63 to 110 into Nio to hold ES6 launch event on May 24.
... MoreTesla to pick location for new factory this year, Musk says
May 23, 2023 3:31 PM EDT(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
May 23, 2023 2:40 PM EDTConstruction 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
May 23, 2023 2:26 PM EDTTesla (NASDAQ: TSLA) 30-day option implied volatility is at 48; compared to its 52-week range of 44 to 96.
... MoreSecretary Buttigieg voices 'real concern' over Tesla (TSLA) autopilot driver interaction
May 23, 2023 1:56 PM EDTU.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
May 23, 2023 12:24 PM EDTBy 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
NIO Inc. (NIO) to hold ES6 launch event Wednesday
May 23, 2023 11:29 AM EDTChinese 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
NIO Inc. (NIO) option implied volatility into Nio to hold ES6 launch event
May 23, 2023 11:01 AM EDTNIO Inc. (NYSE: NIO) 30-day option implied volatility is at 71; compared to its 52-week range of 63 to 111 into Nio to hold ES6 launch event on May 24.
... MoreXPeng Inc. (XPEV) option implied volatility near upper end of range into quarter results
May 23, 2023 10:21 AM EDTXPeng Inc. (NYSE: XPEV) May weekly call option implied volatility is at 121, June is at 83; compared to its 52-week range of 67 to 127 into the expected release of quarter results before the bell on May 24.
... MoreOppenheimer remains sidelined on Tesla (TSLA), acknowledges innovation and production milestones
May 23, 2023 9:50 AM EDTOppenheimer 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
May 23, 2023 9:49 AM EDTActive options: TSLA AMD PLTR AAPL AMZN ZM UPST MSFT GOOGL
... MoreTesla (TSLA) expands Canadian market with China-made Model 3 and Model Y vehicles
May 23, 2023 9:14 AM EDTTesla'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
May 23, 2023 8:49 AM EDTOppenheimer 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
NIO (NIO) to Hold the All-New ES6 Launch Event on May 24
May 23, 2023 7:16 AM EDTNIO Inc. (NYSE: NIO; HKEX: 9866; SGX: NIO) (NIO or the Company), a pioneer and a leading company in the premium smart electric vehicle market, today announced that it expects to host the all-new ES6 launch event in China on Wednesday, May 24, 2023.
The all-new ES6 launch event will start at 7:00 AM U.S. Eastern Time on May 24, 2023 (7:00... More
XPeng Inc. (XPEV) May weekly 9.5 straddle into quarter results
May 23, 2023 4:39 AM EDTXPeng Inc. (NYSE: XPEV) May weekly 9.5 straddle is priced for a move of 10% into the expected release of quarter results before the bell on May 24.
... MoreTesla offers China-made electric vehicles for sale in Canada
May 23, 2023 2:33 AM EDT(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
Exxon (XOM) quietly joins lithium hunt as EV demand continues to grow
May 22, 2023 1:59 PM EDTA 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
Ferguson plc (FERG), Alphabet (GOOG), Tesla (TSLA), Coupang (CPNG) at top buy stock for Russell rebalancing - Jefferies
May 22, 2023 9:49 AM EDT(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:
Ferguson plc (NASDAQ: FERG)Alphabet (NASDAQ:... MoreActive options: TSLA META GOOGL AAPL AMZN NVDA AMD
May 22, 2023 9:46 AM EDTActive options: TSLA META GOOGL AAPL AMZN NVDA AMD
... MoreFord (F) signs battery supply deals ahead of EV ramp
May 22, 2023 7:45 AM EDTFord (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
Stellantis: Bernstein signals potential upside, but beware of macro risks
May 22, 2023 6:59 AM EDTInvesting.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
XPeng Inc. (XPEV) May weekly 9 straddle into quarter results
May 22, 2023 4:36 AM EDTXPeng Inc. (NYSE: XPEV) May weekly 9 straddle is priced for a move of 10% into the expected release of quarter results before the bell on May 24.
... More