GameStop, Meta Platforms fall premarket; Designer Brands, Lucid rise

Tesla (TSLA) Scraps Canadian Orders for US-Built Model Y Long Range

According to Drive Tesla Canada on Friday, Tesla has sent emails to customers in Canada with existing orders for a Fremont-made Model Y Long Range, announcing that their order has been canceled.

According to a copy of the email sent to customers, Tesla says their chosen configuration is... More

Shares rebound as Blink (BLNK) ChargePoint (CHPT) and Tritium (DCFC) embrace Tesla charging connectors

Shares of electric vehicle charging equipment makers Blink Charging (NASDAQ: BLNK), ChargePoint (NYSE: CHPT) and Tritium (NASDAQ: DCFC) are bouncing back Monday after the three revealed they will be including Tesla's (NASDAQ:... More

Tesla (TSLA) to Outperform at KGI Securities on strong US advantage

KGI Securities has raised their rating on Tesla, Inc. (NASDAQ: TSLA) from Neutral to Outperform and increased their 12-month price target for the stock to $335.00. This upgrade comes in light of Tesla's U.S. investments, which have enabled their Model 3 and Y vehicles to qualify for tax credits of up to $7,500.

Analyst, Jennifer Liang wrote in a note, The price of the Model 3 RWD has fallen to $20-25k in certain states after federal, state, and local incentives are applied, making it competitive with popular ICE sedans. Tesla is expanding Gigafactory Nevada, where 4680... More

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

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

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)

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

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

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?

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

(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

Meta Platforms Inc. (META) PT Raised to $300 at CFRA, 'valuation remains attractive'

CFRA analyst Angelo Zino raised the price target on Meta Platforms Inc. (NASDAQ: META) to $300.00 (from $268.00) while maintaining a Buy rating.

The analyst comments "We increase our 12-month target price to $300 from $268 on a P/E of 20.4x our '24 EPS view,... More

Lucid (LCID) begins Air sedan deliveries in Saudi Arabia

Faisal Sultan, Vice President and Managing Director of Lucid Middle East reviled in an interview Thursday that luxury electric automaker, Lucid Motors (LCID) has begun deliveries of its Air sedan to customers in Saudi Arabia.

Lucid, which is partially owned by the Saudi Public Investment Fund (PIF), currently has a lineup of one vehicle, the Lucid Air... More

Amazon (AMZN) shares have room to move higher - UBS

UBS analyst Lloyd Walmsley raised the firm's price target on Buy-rated Amazon (NASDAQ: AMZN) to $150 from $130 in a note Thursday.

The analyst told investors that generative artificial intelligence (AI) could show up at Amazon Web Services (AWS) by the fourth... More

China launches nationwide car purchasing initiative following May sales report

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

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

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