Volvo launches EX30 electric SUV

Tesla (TSLA) leases 210k sq.ft facility in effort to ramp 4680 cell production

June 9, 2023 3:14 PM EDT

EV Giant, Tesla (NASDAQ: TSLA) is preparing to ramp up 4680 battery cell production in Fremont, California.

According to a report by Business Times, citing sources familiar with the matter, the EV company recently signed a lease with the industrial real estate investment trust Prologis on a 210,000 sq. ft advanced manufacturing facility for essential battery technology that will likely be used for 4680 cell production.

During the third quarter... More

Ford (F) files patent for roof-mounted backup EV battery

June 9, 2023 2:58 PM EDT

Detroit automaker, Ford (NYSE: F) has filed an interesting patent for a large roof-mounted backup battery. The battery pack, which resembles a conventional roof box, would attach to the roof rack of any compatible electric vehicle, allowing customers to top-up the main high-voltage pack of an EV when driving through an area where there arent any chargers available.

The abstract of the Ford patent reads: An electrified vehicle backup battery system includes a traction battery pack of an electrified vehicle and a backup battery assembly that... More

Blink (BLNK), ChargePoint (CHPT) and others fall as GM inks deal with Tesla (TSLA)

June 9, 2023 2:29 PM EDT

CEO of General Motors (NYSE: GM), Mary Barra held a live "twitter spaces" meeting with Elon Musk on Thursday to announce a deal between GM and Tesla (NASDAQ: TSLA) to integrate Teslas North American Charging Standard (NACS) charging connections into their vehicles. The deal follows a similar announcement by Ford (NYSE: F) in late... More

White House says Tesla (TSLA) chargers qualify for federal funding so long as they include CCS

June 9, 2023 1:52 PM EDT

White House officials on Friday announced that electric vehicle (EV) charging stations that utilize Teslas (NASDAQ: TSLA) North American Charging Standard (NACS) will be eligible to receive billions of dollars in federal subsidies so long as they also include the national CCS charging standard connection.

The announcement follows U.S. automakers Ford and GM's announcements that they were adopting the Tesla model and integrating the NACS connections into their own vehicles, shaking up a charging industry that was seemingly drifting towards the CCS connection with the help of... More

Canada’s FLO to support Tesla’s (TSLA) NACS at their charging stations

June 9, 2023 11:55 AM EDT

Chief Product Officer, Nathan Yang of Canadian EV charging provider FLO announced Friday that the Quebec-based company will offer the Tesla (NASDAQ: TSLA) designed North American Charging Standard (NACS) EV connectors at their over 90,000 charging stations.

Yang wrote in a statement released to the press Friday:

"FLO welcomes initiatives to standardize charging hardware in North America because we believe it... More

Rivals GM and Ford will adopt Tesla's NACS charging connectors, will Stellantis follow?

June 9, 2023 11:25 AM EDT

General Motors (NYSE: GM) jumped 3.7% at the open on Friday after the company announced yesterday that the Detroit automaker will be partnering with Tesla (NASDAQ: TSLA) to open the EV giants supercharger network to GM customers. The move follows a similar announcement by neighboring rival Ford (NYSE: F) on May 26th, prompting analysts to ask the... More

GM teams with enemy Tesla on EV charging; A bigger surprise than Ford partnership says analyst

June 8, 2023 4:48 PM EDT

(Updated - June 9, 2023 6:47 AM EDT)

General Motors (NYSE: GM) and Tesla (NASDAQ: TSLA) shares are up 3.4% and 4.4%, respectively, in pre-market Friday after the two companies announced a collaboration to integrate the North American Charging Standard (NACS) connector design into its EVs beginning in 2025.

GM CEO Barra also announced that GM customers will have access to an adapter that will allow users to access Tesla chargers starting early next spring.

In order to drive EV adoption, we need to have a robust charging... More

Ford (F) on track to reach production goal of 150K F-150 Lightning trucks

June 8, 2023 2:56 PM EDT

Ford Motor Co. revealed Thursday that the Dearborn automaker is on track to reach its 150,000-unit production goal on the electric F-150 Lightning this year. Adding that the company is also giving the largest production increase to the XLT trim that customers have been waiting for.

"Customer interest for XLT has considerably outstripped supply since the F-150 Lightning launch and weve worked with our suppliers to help address that, said Marin Gjaja, Ford Model e chief customer officer, in a statement. We heard... More

China launches nationwide car purchasing initiative following May sales report

June 8, 2023 9:50 AM EDT

In a significant effort to bolster demand in the world's largest automobile market, China unveiled Thursday a comprehensive nationwide initiative aimed at promoting car purchases, signaling a strong commitment to supporting the automotive industry.

The announcement from the Ministry of Commerce follows the release of data indicating a 7.3%... More

China vehicle sales jump 7.3% in May, NEVs lead the charge

June 8, 2023 9:39 AM EDT

Data released from the China Passenger Car Association (CPCA) Thursday shows that passenger vehicle sales in China rose 7.3% in May compared to last month, as the Chinese government extended tax incentives to shore up demand amid a lagging economic recovery.

The data shows vehicle sales in May reached a total of 1.76 million units.... More

Lucid (LCID) to bring their luxury EVs to China

June 8, 2023 8:44 AM EDT

On Thursday, Zhu Jiang, the head of Lucid Group's operations in China, announced that the U.S. luxury electric vehicle (EV) manufacturer, Lucid Group (NASDAQ: LCID), is preparing to enter the global automotive industry's biggest market.

The US EV startup currently sells its Air luxury sedans in the United States,... More

Tesla (TSLA) in advanced talks for to build factory in Valencia – reports

June 8, 2023 8:05 AM EDT

Spanish newspaper, Cinco Dias reported on Thursday, citing unidentified sources close to the discussions, that U.S. electric car manufacturer Tesla (NASDAQ: TSLA) is in talks with the leaders of the regional government of Valencia in Spain to build a car factory in the metropolitan area.

During the... More

Tesla's (TSLA) Elon Musk meets with Mongolian PM to discuss potential EV investments

June 7, 2023 3:49 PM EDT

Tesla (NASDAQ: TSLA) CEO Elon Musk met virtually with Prime Minister Luvsannamsrain Oyun-Erdene from Mongolia on Tuesday where the two discussed potential investments and cooperation in the electric vehicle sector.

Mongolia is abundant in valuable resources such as coal, copper, gold, silver, and various metallic ores. Over the past years, foreign investors have... More

NIO Inc. (NIO) calls more active than puts into quarter results and outlook

June 7, 2023 10:28 AM EDT

NIO Inc. (NYSE: NIO) June weekly option implied volatility is at 178, June is at 110; compared to its 52-week range of 63 to 111 into the expected release of quarter results before the bell on June 9. Call put ratio 3.9 calls to 1 put.

... More

Stellantis (STLA) launches second round of share buybacks

June 7, 2023 10:26 AM EDT

Stellantis (NYSE: STLA) announced Wednesday the start of their second round of share buybacks. The buyback program was announced on February 22, 2023, covering up to 1.5 billion (total purchase price excluding ancillary costs) to be executed in the open market with the intent to cancel the... More

Active options: TSLA PLTR NVDA AAPL AMD AMZN NFLX GOOGL AFRM

June 7, 2023 9:50 AM EDT

Active options: TSLA PLTR NVDA AAPL AMD AMZN NFLX GOOGL AFRM

... More

Eneco will use Tesla (TSLA) battery packs to build a 50 MW storage plant in Belgium

June 7, 2023 8:39 AM EDT

Dutch energy company Eneco revealed Wednesday that it is planning to build a 50 megawatt (MW) battery energy storage project in Belgium using Tesla (NASDAQ: TSLA) battery packs, its largest such project to date.

The project will consist of 53 Megapack battery packs with the capacity to provide a continuous energy supply for 4 hours, accumulating a... More

Morgan Stanley Overweight on Li Auto (LI) as founder pushes for 30k sales in June

June 7, 2023 8:12 AM EDT

Morgan Stanley reiterated an Overweight rating and $40.00 price target on Li Auto (NASDAQ: LI) after conducting store checks and speaking with salespeople.

According to Morgan Stanleys latest store checks, Li Autos overall foot traffic in flagship locations in Tier 1 cities improved 16% MoM to a record YTD volume in May. The electric automakers L7/L8 continues to gain traction, despite peers' competitive model launches, driving customers to take a closer look at Li... More

Stellantis (STLA) Announces Second Tranche of EUR 1.5B Share Buyback

June 7, 2023 5:18 AM EDT

Stellantis Announces Launch of Second Tranche of Its Share Buyback Program

Stellantis N.V. (NYSE: STLA) announced today that pursuant to its Share Buyback Program announced on February 22, 2023, covering up to 1.5 billion to be executed in the open market with the intent to cancel the common... More

NIO Inc. (NIO) June weekly 8 straddle into quarter results

June 7, 2023 4:17 AM EDT

NIO Inc. (NYSE: NIO) June weekly 8 straddle is priced for a move of 13% into the expected release of quarter results before the bell on June 9.

... More

Tesla (TSLA) option implied volatility as shares trend

June 7, 2023 4:11 AM EDT

Tesla (NASDAQ: TSLA) 30-day option implied volatility is at 51; compared to its 52-week range of 44 to 96.

... More

Stocks expected to have increasing option volume: SFIX CPB DOCU GME SIG NIO

June 7, 2023 4:07 AM EDT

Stocks expected to have increasing option volume: SFIX CPB DOCU GME SIG NIO

... More

ArcelorMittal (MT) Enters Supply Deal with General Motors (GM) for Sustainable XCarb Steel

June 6, 2023 5:14 PM EDT

On our journey towards carbon neutral steel, ArcelorMittal (NYSE: MT) North America will supply General Motors (GM) with XCarb recycled and renewably produced (RRP) steel, offering significantly reduced CO2 emissions compared to much of the carbon steel available in North America.1 Material will be... More

Stellantis (STLA) and LG consider Ottawa's enriched subsidy offer as factory construction remains halted

June 6, 2023 3:03 PM EDT

Stellantis (NYSE: STLA) and LG Energy Solution are reviewing an enhanced subsidy deal from Ottawa designed to save an electric vehicle battery factory worth 2,500 Canadian jobs. Construction on the $3.7 billion factory was halted on May 15th when the companies alleged the federal government wasnt holding up its end of a deal.

Stellantis and LGES are in receipt of a written offer that is currently under financial and legal review, Stellantis Canada communications head LouAnn Gosselin told reporters.

Canadian Prime Minister,... More

Active options: TSLA AAPL NVDA AMD AMZN COIN GOOGL META PLTR

June 6, 2023 3:01 PM EDT

Active options: TSLA AAPL NVDA AMD AMZN COIN GOOGL META PLTR

... More

EPA to scrap proposed EV volumes from biofuel blending rule

June 6, 2023 2:38 PM EDT

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

June 6, 2023 2:10 PM EDT

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

June 6, 2023 1:53 PM EDT

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

Court upholds Musk's win in $13 billion lawsuit over Tesla-SolarCity deal

June 6, 2023 11:28 AM EDT

By Tom Hals

(Reuters) -A trial court properly found that Tesla Inc CEO Elon Musk did not push the electric carmaker to overpay for SolarCity in 2016, the Delaware Supreme Court said on Tuesday, ending years of litigation over the $2.6 billion deal.

Musk was the biggest shareholder in both companies at the time, and Tesla shareholders alleged the billionaire pushed the carmaker's board into the deal to bail out his investment in the struggling rooftop solar company.

The state's highest court said that while a judge on the Delaware Court of... More

Ford Motor names Whirlpool exec as new supply chain chief

June 6, 2023 10:43 AM EDT

(Reuters) - Ford Motor Co on Tuesday named Whirlpool Corp's Liz Door its chief supply chain officer, at a time when the automaker navigates through parts shortages and rising costs.

The appointment, effective June 12, comes as the company predicts a difficult 2023, blaming chip shortages and other supply chain... More

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

June 6, 2023 10:14 AM EDT

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

NIO Inc. (NIO) calls more active than puts into quarter results and outlook

June 6, 2023 10:12 AM EDT

NIO Inc. (NYSE: NIO) June weekly option implied volatility is at 154, June is at 104; compared to its 52-week range of 63 to 111 into the expected release of quarter results before the bell on June 9. Call put ratio 4.1 calls to 1 put.

... More

Tesla (TSLA) Model 3 Tax Credits Confirmed By IRS For All Models - Bloomberg

June 6, 2023 10:02 AM EDT

Tesla (NASDAQ: TSLA) Model 3 Tax Credits Confirmed By IRS For All Models - Bloomberg

... More

Tesla's Model 3 cheaper than Toyota's Camry in California with tax benefits

June 6, 2023 10:01 AM EDT

By Hyunjoo Jin and David Shepardson

SAN FRANCISCO/WASHINGTON (Reuters) -Tesla Inc's rapid adjustment of its battery supply chain means all of its Model 3 vehicles qualify for federal U.S. credits that, along with other tax breaks, could lower its price to less than a Toyota Camry.

The Biden administration on Tuesday confirmed that all Tesla Model 3 vehicles now qualify for $7,500 electric vehicle consumer tax credits after two of the three versions were eligible for half the credits.

New battery rules went into effect in April that lowered the credit of the Model 3 Standard Range... More

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

June 6, 2023 10:00 AM EDT

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

Active options: TSLA AAPL COIN NVDA AMD AMZN PLTR SHOP MARA META

June 6, 2023 9:48 AM EDT

Active options: TSLA AAPL COIN NVDA AMD AMZN PLTR SHOP MARA META

... More

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

June 6, 2023 8:50 AM EDT

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

June 6, 2023 7:58 AM EDT

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

Analysis-Ford's EV charging tie-up with Tesla ripples through industry

June 6, 2023 6:04 AM EDT

By Abhirup Roy, Hyunjoo Jin and Isla Binnie

SAN FRANCISCO (Reuters) - Ford Motor Co's decision to allow customers to use Tesla's electric-vehicle charging network has sent ripples through the industry, raising questions about a national U.S. charging standard as well as the fate of charging startups that are struggling.

The deal, announced last month, would open more than 12,000 Tesla Superchargers to drivers of Ford vehicles in North America starting in 2024.

The tie-up puts pressure on other companies and the administration of U.S. President Joe Biden to fall in line or spend more to... More

NIO Inc. (NIO) June weekly 7.5 straddle into quarter results

June 6, 2023 4:58 AM EDT

NIO Inc. (NYSE: NIO) June weekly 7.5 straddle is priced for a move of 13% into the expected release of quarter results before the bell on June 9.

... More

Ford recalls 125,000 vehicles over engine failures that can cause fires

June 6, 2023 4:37 AM EDT

By David Shepardson

WASHINGTON (Reuters) -Ford Motor Co said on Tuesday it is expanding and issuing a new recall for 125,000 sport utility vehicles and trucks because engine failures may cause a fire.

The recall covers various Escape and Lincoln Corsair SUVs and Maverick compact pickup trucks from the 2020-2023 model years with 2.5L hybrid or plug-in hybrid engines, according to a filing with the... More

Panasonic to lift battery output at Tesla's (TSLA) Nevada gigafactory - Nikkei

June 5, 2023 5:35 PM EDT

Panasonic to lift battery output at Tesla's (NASDAQ: TSLA) Nevada gigafactory - Nikkei

... More

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

June 5, 2023 3:09 PM EDT

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

June 5, 2023 2:27 PM EDT

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

Active options: AAPL TSLA NVDA PLTR AMZN GOOGL SOFI AMD META COIN

June 5, 2023 2:14 PM EDT

Active options: AAPL TSLA NVDA PLTR AMZN GOOGL SOFI AMD META COIN

... More

Midday movers: Apple, Palo Alto Networks, Chevron and more

June 5, 2023 1:55 PM EDT

Investing.com -- Stocks are mixed on Monday as investors look ahead to next week's Federal Reserve interest rate decision. Here are the market movers for June 5.

Apple Inc (NASDAQ: AAPL) shares rose 1.9% ahead of the start... More

Deutsche Bank cuts estimates on NIO Inc. (NIO) but maintains Buy rating ahead of 1Q release

June 5, 2023 12:38 PM EDT

Deutsche Bank reiterated a Buy rating on NIO Inc. (NYSE: NIO) and cut their 12-month price target on the stock to $13.00 (From $19.00) ahead of the electric vehicle makers 1Q23 earnings release. NIO is scheduled to report 1Q earnings this Friday before US markets open.

Analyst, Edison Yu is expecting weak results from NIO after the company reported April and May delivery results for a combined 12,813 units, bringing the companies 1Q deliveries to 31,041 (low-end of 31,000-33,000 guidance).

During the quarter, NIO aggressively cleared out their older 866 inventory as they prepared to... More

No need for Italy to directly invest in Stellantis (STLA), says Minister Giorgetti

June 5, 2023 11:58 AM EDT

Italys Economy Minister, Giancarlo Giorgetti told reporters Monday that the Italian government has no need to directly invest in automaker Stellantis (NYSE: STLA), mirroring a statement made last week by the companys chairman John Elkann.

When reporters asked whether Rome... More

Tesla (TSLA) option IV flat as shares near eight-month high

June 5, 2023 11:24 AM EDT

Tesla (NASDAQ: TSLA) 30-day option implied volatility is at 53; compared to its 52-week range of 44 to 96.

... More

Stellantis (STLA) and Galloo look to form joint venture for ELV recycling

June 5, 2023 11:23 AM EDT

Multinational automaker Stellantis (NYSE: STLA), alongside leading metals recycler Galloo revealed Monday, that the two companies have signed a Memorandum of Understanding to enter into exclusive negotiations to form a joint venture with a focus on End-of-Life Vehicle (ELV) recycling as part of the automakers continued commitment to build its circular economy activities.

The collaboration will work with selected Authorized Treatment Facilities to collect the... More

GM to invest over $1 billion in Flint plants to boost truck production

June 5, 2023 9:55 AM EDT

By Joseph White

(Reuters) - General Motors Co said on Monday it plans to invest more than $1 billion to re-tool two manufacturing sites in Flint, Michigan to prepare for a new generation of its internal combustion engine heavy-duty (HD) trucks.

GM has outlined this year a total of $1.7 billion in investments in Flint facilities to support the next generation of its heavy duty pickups.

GM said it will spend $579 million at its Flint Engine Operations to produce a sixth generation of its small... More

Active options: TSLA AAPL AMZN NVDA SOFI AMD PLTR GOOGL CHPT

June 5, 2023 9:53 AM EDT

Active options: TSLA AAPL AMZN NVDA SOFI AMD PLTR GOOGL CHPT

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Dow Jones, Nasdaq, S&P 500 weekly preview: AI has its 'iPhone moment'

June 5, 2023 9:20 AM EDT

U.S. futures are trading mostly flat after the benchmark stock market index S&P 500 (SPX) finally broke out of the 3800-4200 trading range.

The S&P 500 rose 1.8% last week to hit the highest levels seen since August 2022. The index is approaching the critical resistance, near 4310, in the form of the 61.8% Fibonacci retracement of the January - October 2022 plunge.

It is worth noting that the S&P 500 recorded three consecutive monthly green candles, in addition to being up 2.5% in June already. Since the start of March, the index trades about 12.5% higher.

Nasdaq Composite Index (IXIC)... More

Ford Motor (F) stock rallies as Citi upgrades to Buy on positive survey results

June 5, 2023 8:52 AM EDT

Citi analyst Itay Michaeli upgraded shares of Ford Motor (NYSE: F) to Buy from Neutral with a price target of $16 per share, up from the prior $12.80.

The analyst says that the results of the recent survey pointed to a surprisingly strong density outlook, suggesting... More

Citi Upgrades Ford (F) to Buy

June 5, 2023 8:41 AM EDT

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

General Motors (GM) PT Raised to $85 at Citi, Remains Top Pick

June 5, 2023 8:41 AM EDT

(Updated - June 5, 2023 8:42 AM EDT)

Citi analyst Itay Michaeli raised the price target on General Motors (NYSE: GM) to $85.00 (from $79.00) while maintaining a Buy rating.

The analyst comments "Following the results of our Vehicle Density Survey, were raising our... More

Tesla (TSLA) PT Raised to $215 at Citi, 'we see more compelling NT risk/reward elsewhere'

June 5, 2023 8:41 AM EDT

(Updated - June 5, 2023 8:43 AM EDT)

Citi analyst Itay Michaeli raised the price target on Tesla (NASDAQ: TSLA) to $215.00 (from $175.00) while maintaining a Neutral rating.

The analyst comments " Were raising our price target to $215 from $175 largely on a higher target... More

Stellantis (STLA) and Galloo to Form JV for End-of-Life Vehicle Recycling

June 5, 2023 8:08 AM EDT

Stellantis and Galloo to Form Joint Venture for End-of-Life Vehicle Recycling

Joint venture will provide recycling services to manage End-of-Life Vehicles for Stellantis and other automakersService expected to launch in late 2023, with an initial focus on France, Belgium and Luxembourg, then expanding across EuropeRecycling is a key activity inside the circular economy business model outlined in the Stellantis Dare... More

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

June 5, 2023 7:35 AM EDT

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

June 5, 2023 7:18 AM EDT

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

Elon Musk's Neuralink valued at about $5 billion - Reuters

June 5, 2023 6:40 AM EDT

Reuters reports that Elon Musk's brain implant startup Neuralink is now worth around $5 billion.

... More

Elon Musk's Neuralink Valued At Around $5 Bln, Up From $2 Bln Two Years Ago, Stock Trades And Marketing Materials Show - Reuters

June 5, 2023 6:01 AM EDT

Exclusive-elon Musk's Neuralink Valued At Around $5 Bln, Up From $2 Bln Two Years Ago, Stock Trades And Marketing Materials Show - Reuters

... More

Active options: TSLA AAPL AMZN AMD GOOGL BAC META PLTR MSFT

June 5, 2023 4:51 AM EDT

Active options: TSLA AAPL AMZN AMD GOOGL BAC META PLTR MSFT

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Tesla's China-made EV sales rose 2.4% in May from April - CPCA

June 5, 2023 4:31 AM EDT

By Qiaoyi Li and Brenda Goh

BEIJING (Reuters) - U.S. automaker Tesla Inc delivered 77,695 China-made electric vehicles (EVs) in May, a 2.4% jump from April, data from the China Passenger Car Association (CPCA) showed on Monday.

On a yearly basis, sales rose 142% in May from 32,165 vehicles in the same month of 2022 when Shanghai, where its factory is located, was still subject to COVID-19 containment measures that impacted production.

Chinese rival BYD Co Ltd, with its Dynasty and Ocean series of EVs and petrol-electric... More