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

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

May 25, 2023 2:57 PM EDT

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

May 25, 2023 2:43 PM EDT

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

Nikola (NKLA) shares plummet following delisting notice

May 25, 2023 11:51 AM EDT

Nikola Corp. (NASDAQ: NKLA) announced on Thursday that it has been issued a delisting notice by Nasdaq due to its failure to meet the minimum bid price requirements set by the exchange.

Shares of the company sank more than 15% to 65 cents... More

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

May 25, 2023 11:30 AM EDT

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

May 25, 2023 10:48 AM EDT

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

May 25, 2023 10:27 AM EDT

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

Trade, Build, Settle: Elon Musk Plays Electric Catan - Morgan Stanley on Tesla (TSLA)

May 25, 2023 6:11 AM EDT

Morgan Stanley analyst Adam Jonas reiterated an Overweight rating and $200.00 price target on Tesla (NASDAQ: TSLA).

"We have taken note of Elon Musks accelerating number of engagements with world leaders on future investment opportunities. Teslas stated 20-million unit volume goal cannot be... More

Stellantis (STLA) Invests in Lyten’s Breakthrough Lithium-Sulfur EV Battery Technology

May 25, 2023 6:07 AM EDT

Stellantis Invests in Lytens Breakthrough Lithium-Sulfur EV Battery Technology

Lyten is a Silicon Valley-based pioneer of tunable three-dimensional graphene, which has demonstrated significant reductions in greenhouse gas emissions and will advance the transition to sustainable mobilityStellantis and Lyten to develop applications for advanced Lithium-Sulfur based EV batteries, vehicle lightweighting, and enhanced vehicle sensing solutionsLithium-Sulfur batteries have the potential to deliver more than twice the... More

Daiwa Securities Upgrades Ford (F) to Neutral (3) on 'potential Blue restructuring, Pro intrinsic value'

May 25, 2023 4:15 AM EDT

(Updated - May 25, 2023 8:45 AM EDT)

Daiwa Securities analyst Jairam Nathan upgraded Ford (NYSE: F) from Underperform (4) to Neutral (3) with a price target of $12.00.

The analyst commented, "We upgrade our rating to 3/Neutral from 4/Underperform while maintaining our $12 target. Blue restructuring... More

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

May 24, 2023 3:39 PM EDT

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

May 24, 2023 3:04 PM EDT

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

May 24, 2023 2:28 PM EDT

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

May 24, 2023 1:52 PM EDT

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

May 24, 2023 11:32 AM EDT

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

Active options: TSLA AMZN AAPL NVDA PLTR NIO AMD NFLX PANW

May 24, 2023 9:59 AM EDT

Active options: TSLA AMZN AAPL NVDA PLTR NIO AMD NFLX PANW

... More

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

May 24, 2023 8:19 AM EDT

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

May 23, 2023 4:46 PM EDT

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

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

May 23, 2023 4:11 PM EDT

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

... More

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

May 23, 2023 3:39 PM EDT

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

... More

Tesla 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 EDT

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

May 23, 2023 2:26 PM EDT

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

... More

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

May 23, 2023 2:17 PM EDT

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

May 23, 2023 1:56 PM EDT

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

May 23, 2023 12:24 PM EDT

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

May 23, 2023 12:16 PM EDT

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

Lordstown (RIDE) announces reverse stock split amidst dispute with Foxconn

May 23, 2023 10:39 AM EDT

Shares of electric automaker, Lordstown Motors (NASDAQ: RIDE) slid about 10% in pre-market trading Tuesday after the company announced a 1:15 reverse stock split of its Class A common stock, $0.0001 par value per share. The split will go into effect at 12:01 a.m. Eastern Time on May 24, 2023.

The Reverse Stock Split was approved by the Companys stockholders at its 2023 Annual Meeting of Stockholders, held on May 22, with the final ratio determined by the Companys board of directors.

RIDE hopes the move will improve the marketability and liquidity of... More

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

May 23, 2023 9:50 AM EDT

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

May 23, 2023 9:49 AM EDT

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

... More

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

May 23, 2023 9:14 AM EDT

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

May 23, 2023 8:49 AM EDT

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

May 23, 2023 8:38 AM EDT

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

Lowe's, AutoZone, Alibaba fall premarket; Yelp, Dick's Sporting Goods rise

May 23, 2023 8:11 AM EDT

Investing.com -- Stocks in focus in premarket trade on Tuesday, May 23rd. Please refresh for updates.

Lowes (NYSE: LOW) stock fell 1.6% after the home improvement chain reported a decline in first quarter sales and lowered its full-year financial outlook, hit by a... More

Lordstown opts for reverse stock split to meet Nasdaq rules, placate Foxconn

May 23, 2023 7:25 AM EDT

(Reuters) -Lordstown Motors Corp on Tuesday announced a reverse stock split to meet Nasdaq listing norms and appease investor Foxconn, which has threatened to scrap a crucial $170 million funding for the struggling electric-vehicle maker.

The 1:15 split has been scheduled for May 24, the company said, but added there was no assurance that the Foxconn deal will close.

Lordstown Motors' shares fell 10% in... More

Lordstown Motors (RIDE) To Cut Costs, Preserve Liquidity In Light Of Foxconn - Bloomberg

May 23, 2023 7:22 AM EDT

Lordstown Motors (RIDE) To Cut Costs, Preserve Liquidity In Light Of Foxconn - Bloomberg

... More

Lordstown Motors (RIDE) Announces 1-for-15 Reverse Stock Split

May 23, 2023 7:15 AM EDT

Lordstown Motors Corp. (Nasdaq: RIDE), (Lordstown Motors, LMC or the Company), an original equipment manufacturer (OEM) of electric vehicles focused on the commercial fleet market, today announced that it will effect a 1:15 reverse stock split (the Reverse Stock Split) of its Class A common stock, $0.0001 par value per share (the Class A common stock), that will become effective at 12:01 a.m. Eastern Time on May 24, 2023 (the Effective Time). Lordstown Motors Class A common stock will begin trading on a split-adjusted basis on the Nasdaq Global Select Market (Nasdaq), under its existing symbol, RIDE, when the market opens on May 24, 2023. The new CUSIP... More

Tesla 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