GM’s Mary Barra pushes back against autonomous vehicles doubters

EPA to scrap proposed EV volumes from biofuel blending rule

Reuters reports today, citing three unnamed sources familiar with the matter that the Biden administration is planning to discard a proposal to include the electric vehicle industry into the U.S. biofuel blending program. Additionally, the administration intends to retract tradable credits worth potentially billions of dollars that were associated with this initiative.

It was first reported in early May that the Environmental Protection Agency (EPA) was considering delaying the EV program over concerns the plan could trigger lawsuits. The... More

Ford (F) names Whirlpool's (WHR) Liz Door as new supply chain chief

Ford Motor (NYSE: F) on Tuesday announced the appointment of Liz Door from Whirlpool Corp (NYSE: WHR) as its new chief supply chain officer, effective June 12. This decision comes as Ford anticipates a challenging 2023 due to chip shortages, supply... More

Tesla (TSLA) Model 3 now more affordable than Toyota Camry in California

President Joe Biden's administration confirmed Tuesday that after a rapid adjustment of its battery supply chain, the Tesla (NASDAQ: TSLA) Model 3 now qualifies for the full $7,500 tax credit, meaning that it has become more affordable than the Toyota Camry in California.

New battery sourcing... More

Ford (F) expands recall for 125K vehicles due to fire risk and engine failure

Ford (NYSE: F) revealed Tuesday that the Detroit automaker is expanding and issuing a new recall for 125,000 sport utility vehicles and trucks. The recall specifically targets a range of Escape and Lincoln Corsair SUVs, as well as Maverick compact pickup trucks, manufactured between the years 2020 and 2023. According to a filing with the National Highway Traffic Safety... More

Global EV penetration reaches 14% in April with promising uptick in May

Barclays April report card shows that global electric vehicle penetration reached 14% in April, slightly outpacing last years EV penetration of 13%; however, it fell short of the heightened levels observed in the fourth quarter of 2022. Shifting focus to May, the industry is demonstrating promising signs of a substantial m/m increase in EV penetration, indicating a positive trajectory.

Additionally, while Tesla's (NASDAQ: TSLA) market share remains stable, the actual strength might not be as robust as the price reductions would have you expect. Lastly, the US electric vehicle market continues to make... More

Morgan Stanley reiterates Overweight on Tesla (TSLA) as Model 3 qualifies for full $7500 tax credit

Morgan Stanley reiterated an Overweight rating and $200.00 price target on Tesla (NASDAQ: TSLA) after the electric automaker announced that the companys Model 3 will now qualify for the full $7,500 EV tax credits offered under the Inflation Reduction Act (IRA).

The consumer tax credit for clean vehicles, totaling $7,500, under the provisions of the IRA, is divided into two components. Electric vehicles (EVs) can receive $3,750 if 50% of the value of their battery components were manufactured or assembled in North America. The remaining $3,750 is contingent on 40% of the value of critical materials being... More

Ford's (F) deal with Tesla (TSLA) charges up industry and sparks standardization talks

The recent move by Ford Motor Co (NYSE: F) to grant its customers access to Tesla's (NASDAQ: TSLA) electric-vehicle charging network has caused significant waves in the industry. This decision has sparked discussions about the need for a standardized charging infrastructure across the United States and has also cast uncertainty on the future of struggling charging startups.

The deal, announced last month, outlined plans to provide drivers of Ford vehicles in North America with access to over 12,000 Tesla Superchargers, starting in 2024. Under the deal, Ford will... More

Tesla (TSLA) recalls some Model Y EVs as steering wheels might fall off…again

Tesla Inc. (NASDAQ: TSLA) has announced a voluntary recall of 137 Model Y electric vehicles due to a potential safety concern. The recall was prompted by the discovery of a loose fastener by a service technician, which could potentially result in the steering wheel detaching completely. Tesla estimates that approximately 10 percent of the affected vehicles may have this issue.

A loose... More

GM to invest $1B to retool plants for gas-powered heavy-duty trucks

General Motors (NYSE: GM) announced Monday its intention to invest more than $1 billion in the retooling of two mid-Michigan plants. This strategic move aims to equip the facilities for the production of a new wave of gas-powered heavy-duty trucks.

GM has outlined this year a total of $1.7... More

Citi Upgrades Ford (F) to Buy

Citi analyst Itay Michaeli upgraded Ford (NYSE: F) from Neutral to Buy with a price target of $16.00 (from $12.80).

The analyst comments "Upgrade to Buy from Neutral Following the results of our 2023 Vehicle Density survey, were upgrading Ford shares to Buy from Neutral and raising our price target to $16 from $12.8 on modestly higher target multiples (target 23E P/E of 8.0x vs. 6.8x prior, target Pro EV/EBITDA multiple of 6.5x vs. 4.5x prior, and Model-e at 4.5x... More

Tesla's (TSLA) Model Y surpasses Toyota’s (TM) RAV4 to become the best selling SUV in Australia

The latest data received from the Federated Chamber of Automotive Industries shows that Tesla (NASDAQ: TSLA) sold 3,178 units of the Model Y in May, overtaking the Toyota (NYSE: TM) RAV4 as the bestselling SUV in Australia and the third bestselling car of any type.

The only models to... More

Tesla (TSLA) delivers 77,695 China-made EVs in May

Newly released data from the China Passenger Car Association (CPCA) shows that electric automaker, Tesla, Inc. (NASDAQ: TSLA) delivered 77,695 China-made electric vehicles (EV) in May. This marks a 142% increase when compared to the same month in 2022 when production was affected by COVID-19 containment measures in... More

General Motors (GM) and POSCO expand Ultium CAM joint venture in North America with $1B investment

American automaker General Motors (NYSE: GM) made an announcement Friday in collaboration with POSCO Future M regarding the next phase of their Ultium CAM joint venture. This strategic partnership entails a substantial investment of over $1 billion to expand the production capacity at their chemical battery materials facility in Canada, taking their estimated total investment in the plant to over $1 billion.

The companies had invested about $327 million in the plant last year, according to media reports.

The latest investment from GM and POSCO comes days after Canada's federal government and the Quebec province... More

GM chief Barra stands by her bet on autonomous vehicles

By Joseph White and Shivansh Tiwary

DETROIT (Reuters) -General Motors Co Chief Executive Mary Barra had a message on Friday for investors and rivals who see no profitable future in autonomous vehicles: You're wrong.

Barra told attendees at a Sanford Bernstein conference she sees a "giant growth opportunity" in GM's Cruise autonomous vehicle unit, and predicted personal self-driving cars would be on the market before the end of the decade.

Barra reiterated a forecast that Cruise could generate $50 billion a year in annual revenue by 2030. That target assumes deployment of Cruise technology and services outside... More

Stellantis (STLA) and General Motors (GM) hit with $363M in penalties for fuel economy violations

An exclusive story by Reuters on Friday revealed that Stellantis (NYSE: STLA) and General Motors (NYSE: GM) have paid a combined sum of $363 million in civil penalties. These penalties were imposed due to their failure to meet the fuel economy standards set by the United States for previous model years.

According to the National Highway Traffic Safety Administration (NHTSA), which administers the Corporate Average Fuel Economy (CAFE) program, the record-setting penalties include... More

Tesla (TSLA) 30-day option implied volatility as shares trade above $210

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

Active options: TSLA AAPL AMZN NVDA AMD GOOGL CHPT MSFT

Active options: TSLA AAPL AMZN NVDA AMD GOOGL CHPT MSFT

Ford Motor (F) May North America Total Vehicles Sales 170,933; Up 10.7%

Ford Motor (NYSE: F) May North America Total Vehicles Sales 170,933; Up 10.7%

Tesla’s (TSLA) price cuts drive online traffic spike

Citi has recently revised their "mindshare" tracker for electric vehicles (EVs), which keeps tabs on web traffic related to EVs. This tracker evaluates the level of engagement on websites associated with the overall EV market, as well as specific brands or companies, with the latter serving as a possible predictor of future EV market share and brand... More

GM (GM) and POSCO Future M to Expand EV Battery Supply Chain in North America with New Integrated CAM and Precursor Processing Complex

General Motors Co. (NYSE: GM) and POSCO Future M announced today the second phase of their Ultium CAM joint venture, an investment projected to exceed $1 billion (U.S.) to increase production capacity of CAM in North America and integrate precursor materials production. pCAM is a specifically engineered combination of processed raw materials necessary to produce CAM, a key battery material representing about 40% of the cost of a battery... More

Active options: TSLA NVDA AAPL PLTR AMZN META AMD AI SOFI BABA

Active options: TSLA NVDA AAPL PLTR AMZN META AMD AI SOFI BABA

Analysts watch closely as Chinese EVs battle for market share in Europe

As new EV competitors push into Europes mass market segment, how much market share will they be able to take? Analysts are keeping a close eye on the next 24 months for significant indicators of the potential risks that incumbent European automakers may face and the extent to which their market share could be at stake.

The annual sales of new cars in Europe far surpass $100 billion. With the increasing adoption of battery electric vehicles (BEVs) in Europe, the market will witness a steady flow of highly competitive offerings from established companies as well as new... More

Active options: TSLA NVDA AAPL AI AMD SOFI CRM META PLTR

Active options: TSLA NVDA AAPL AI AMD SOFI CRM META PLTR

Tesla (TSLA) amps up discounts on U.S. Model 3 inventory

In the face of economic uncertainty, increased competition, and the impending redesign of its flagship model, Tesla Inc (NASDAQ: TSLA) has significantly boosted discounts on select already made new Model 3 electric cars. Additional discounts are also being extended to the Model Y and other vehicles in its U.S. inventory, aimed at enticing potential buyers.

In California, Tesla's website reveals that a Model 3 variant available in their inventory is... More

Ford Next (F) Launches Ford Drive

Ford (NYSE: F) Next is collaborating with Uber to deliver a new lease option for rideshare drivers going electric. Called Ford Drive, the pilot program offers flexible access to Ford Mustang Mach-E models and has launched in San Diego, San Francisco, and Los Angeles. Ford Drives Los Angeles vehicle deliveries began today.

A flexible lease allows rideshare drivers to select their Mustang Mach-E for between one- and four-month increments, depending on the location. The vehicle is delivered to the driver within two weeks, and they use the Ford Drive app to... More

'Big Seven' mega-cap tech stocks will collapse soon - Fred Hickey

Fred Hickey, the editor of the High-Tech Strategist, writes today: "...This market is most like 1929. Investors in 1929 also thought they were in a New Era. The U.S. had experienced a period of unparalleled prosperity, with low interest rates and inflation. Ill stop there before going on to page three... More

Elon Musk Met With Chinese Vice Premier Ding In Beijing - Reuters

Elon Musk Met With Chinese Vice Premier Ding In Beijing - Reuters

Active options: TSLA NVDA AAPL SOFI INTC AMZN AMD PLTR MSFT

Active options: TSLA NVDA AAPL SOFI INTC AMZN AMD PLTR MSFT

Elon Musk met with Chinese Vice Premier Ding in Beijing -source

By Julie Zhu

HONG KONG (Reuters) - Tesla Inc CEO Elon Musk met with Chinese Vice Premier Ding Xuexiang on Wednesday afternoon in Beijing, a source familiar with the matter said.

The source declined to provide details of the discussions. The previously unreported meeting followed meetings with China's commerce and industry ministers earlier in the day and with the foreign minister on Tuesday.

Tesla doubles discounts on Model 3 cars in US inventory

By Hyunjoo Jin

SAN FRANCISCO (Reuters) - Tesla Inc has doubled discounts on some already made new Model 3 electric cars and offered discounts on the Model Y and others in its U.S. inventory to entice buyers amid economic uncertainty, rising competition and the upcoming redesign of its mainstay model.

In California, a Model 3 variant in inventory was... More

Ford recalls 142,000 Lincoln SUVs in US for fire risks

WASHINGTON (Reuters) - Ford Motor said on Wednesday it is recalling 142,000 Lincoln MKC SUVs in the United States and advising owners to park outdoors and away from structures while it investigates the cause of under hood fires.

The No. 2 U.S. automaker said the issue in the 2015-2019... More

Active options: TSLA NVDA AAPL SOFI INTC AMZN AMD PLTR MSFT AI META F

Active options: TSLA NVDA AAPL SOFI INTC AMZN AMD PLTR MSFT AI META F

Tesla (TSLA) shipping cars with 50% Charge, offers free supercharging miles

Electric vehicle giant, Tesla (NASDAQ: TSLA) has begun shipping their cars to customers with a 50% charge for safety reasons. As a gesture of goodwill, they're also offering buyers 150 free Supercharging kilometers to make up for any inconvenience caused.

According to Reddit user u/W-001, Tesla gave the following message through email... More

Active options: AI F PFE GOOGL BAC UPST SNOW MRVL NIO PYPL

Active options: AI F PFE GOOGL BAC UPST SNOW MRVL NIO PYPL

Active options: TSLA NVDA AAPL AMZN INTC SOFI PLTR AMD MSFT META

Active options: TSLA NVDA AAPL AMZN INTC SOFI PLTR AMD MSFT META

General Motors (GM) to build key components for E-Cite Motors’ EV-GT

E-Cite Motors, a privately owned subsidiary of VaporBrands, revealed Wednesday that General Motors (NYSE: GM) would be responsible for producing crucial components for their upcoming electric sportscar, the EV-GT.

GM has designed and crafted several important components for the EV-GT, including specific suspension... More

Elon Musk scheduled to visit Tesla's Shanghai plant on Weds night - sources

SHANGHAI (Reuters) - Elon Musk is scheduled to travel to Tesla's Shanghai factory on Wednesday night to meet with staff there, two sources familiar with the matter said.

The Tesla CEO's private jet landed in the financial hub earlier in the day after flying from Beijing, according to... More

Tesla (TSLA) CEO Elon Musk scheduled to visit Shanghai plant on Wednesday evening - Reuters

Tesla (NASDAQ: TSLA) CEO Elon Musk scheduled to visit Shanghai plant on Wednesday evening - Reuters

Volkswagen COO says automaker will not join discount battle in China 'at any price'

Volkswagen Chief Operating Officer Ralf Brandstaetter said in an interview released Wednesday that the German automaker would not participate in a discount battle in China "at any price".

"Volkswagen is focusing on a sustainable business model. In concrete terms, this means that we will not participate in the... More

Tesla (TSLA) option implied volatility as shares close above $200

Tesla (NASDAQ: TSLA) 30-day option implied volatility is at 53; compared to its 52-week range of 44 to 96 as shares trade above 200-day moving average.

Active options: TSLA AAPL NVDA AMD MSFT META AMZN

Active options: TSLA AAPL NVDA AMD MSFT META AMZN

Wood: Software stocks next to benefit from AI boom after Nvidia

Investing.com -- Software providers will be the next businesses to benefit from a spike in interest in artificial technology that has spurred on rapid growth in Nvidia (NASDAQ: NVDA) shares, according to ARK Investment Management chief executive and founder Cathie Wood.

Speaking on Bloomberg TV on Wednesday, Wood said her flagship ARK Innovation ETF (NYSE:... More

Volkswagen won't join China discount battle "at any price" - COO

BERLIN (Reuters) -Volkswagen will not participate in a discount battle in China "at any price", Chief Operating Officer Ralf Brandstaetter said in an interview released on Wednesday.

The German carmaker is under growing pressure in its most important market from up-and-coming Chinese manufacturers who are more successful with electric cars than their Western rivals.