EV startups look to extend impressive rally Friday

BTC Power joins rivals in adopting Tesla's (TSLA) NACS

In an exclusive story, Reuters reports Tuesday that privately-owned BTC Power will add Tesla's (NASDAQ: TSLA) North American Charging Standard (NACS) connection to its electric vehicle chargers starting next year.

The move follows several rival charging companies like ChargePoint (NASDAQ:... More

Elon Musk will speak with PM Modi at U.S. meeting to discuss Tesla’s (TSLA) India investment plans

Reuters reports, citing unnamed sources, that Tesla (NASDAQ: TSLA) CEO Elon Musk will meet directly with Indian Prime Minister Narendra Modi on Tuesday to brief the leader on plans to set up a manufacturing base in the country.

According to the unnamed source, the inaugural high-level meeting to discuss the expansion will occur as part... More

Tesla (TSLA) China saw 14,500 new registrations in third week of June

Industry watchers, analyzing data of first-time vehicle registrations in China, have determined that new registrations of Tesla (NASDAQ: TSLA) vehicles reached 14,500 units for the week ending June 18. Based on these estimations, it appears that Tesla China has successfully sold 40,600 vehicles between June 1 and... More

Rivian (RIVN) a Buy at Canaccord Genuity on management optimism

Canaccord Genuity reiterated a Buy rating and $40.00 price target on Rivian Automotive (NASDAQ: RIVN) following recent statements from CEO, RJ Scaringe and CFO Claire McDonough. They described a material improvement in the broader supply chain environment and said that the companys R1 demand remains healthy and described their backlog as extending into 2024.

Analyst George Gianarikas wrote in a note, Over... More

Hyundai considers adopting Tesla (TSLA) charging standard

Hyundai held its 2023 CEO Investor Day on Tuesday where CEO Jaehoon Chang revealed that the South Korean automaker is considering the adoption of the Tesla (NASDAQ: TSLA) designed North American Charging Standard (NACS) charging connector for their vehicles, but still needs to determine if the switch would be in the customers best interest.

One... More

Nio (NIO) gains $738M investment from CYVN Holdings

Chinese electric automaker, NIO Inc. (NYSE: NIO) announced Tuesday that the company has entered into a share subscription agreement with CYVN Holdings, an investment firm majority owned by the Abu Dhabi Government with a focus on advanced and smart mobility.

According to the agreement, CYVN will invest $738.5 million in cash to subscribe 84,695,543 newly issued Class A ordinary shares of the Company at a per share purchase... More

Bernstein optimistic as China EV sales show resilience

Bernstein released an analysis of the recovering Chinese auto industry following the COVID pandemic which led to extended lockdowns and supply chain interruptions and found that the electric vehicle industry, as a whole, remains resilient.

Analyst Eunice Lee wrote in a note, We are turning more positive on China's auto cycle and hold a cautiously optimistic view of the sector. The slow recovery from the beginning of the... More

Rivian (RIVN) will adopt Tesla's (TSLA) charging standard

Reuters reports in an exclusive story Tuesday that American electric automaker Rivian (NASDAQ: RIVN) said it has agreed to adopt Tesla's (NASDAQ: TSLA) charging standard. Adding momentum to Tesla's bid to set the industry standard.

Tesla struck simular deals in recent weeks with General Motors (NYSE: GM) and Ford (NYSE: F),... More

Hyundai increases annual EV investment to $28B

Hyundai Motor announced Tuesday that the Korean multi-national automaker plans to raise its average annual investment in electrification by nearly two thirds to $28 billion over the next decade to restructure its business in China and boost electric vehicle (EV) sales.

Hyundai CEO Jaehoon Chang told investors that China, the world's largest vehicle market, had been very profitable up until 2016 but it was now the biggest risk as the automaker had lost market share to... More

Citi cuts estimates on EV charging stocks

Citi research updated their estimates on electric vehicle charging stocks Allego (NYSE: ALLG), ChargePoint (NYSE: CHPT) and EVgo (NASDAQ: EVGO) after meeting with management following the companies recent financial results.

Analyst Itay Michaeli wrote in a note, Despite the recent pullback in EV charging stocks, we remain selective with continued preference for Europe exposure (Allego). Though we dont think recent U.S. NACS developments (GM/Ford Tesla) dramatically change the LT fundamental picture for EVgo and ChargePoint, it does introduce NT headline risk while... More

Autonomy is 'main driver' of Tesla (TSLA) value says Musk

Tesla (NASDAQ: TSLA) CEO Elon Musk attended Vivatech 2023 in Paris Friday where he revealed that his company is close to achieving fully autonomous vehicles, adding autonomy was the "main driver" of the brand's market value.

TSLA shares jumped by as much... More

Tesla (TSLA) China to offer time-limit insurance and loan incentives for Model 3

Tesla (NASDAQ: TSLA) China announced, via its official Sina Weibo account Friday, that the electric automaker is offering a limited-time incentive for the China-made Model 3.

The company announced that from June 16th to 30, customers who purchase and successfully take delivery of the... More

NIO Inc. (NIO) unveils ET5 Touring electric station wagon

NIO Inc. (NYSE: NIO) has officially unveiled their electric station wagon, named the ET5 Touring. The electric station wagon was developed with the European market in mind with the aim of rivaling BMW, Porsche, and other premium automakers.

NIO says the model is now open for ordering in... More

Deutsche Bank reiterates Buy on NIO Inc. (NIO) as management shows volume capture urgency

Deutsche Bank reiterated a Buy rating and $13.00 price target on NIO Inc. (NYSE: NIO) after meeting with management following the automakers 1Q earnings report.

Deliveries for the first quarter were already reported at 31,041 units, leading to revenue of 10.7bn RMB, missing the consensus estimate of 11.7bn RMB, hurt by lower ASP. Gross margin of 1.5% also missed consensus, driven by downside in vehicle margin, but partially offset by "other" margin.

Analyst Edison Yu wrote in a note, Our main takeaway following 1Q earnings and hosting NIO management (CFO inperson in NYC... More

Electric-vehicle startups see weekly gains after blistering rally

By Aditya Soni and Akash Sriram

(Reuters) -U.S. electric-vehicle startups saw massive weekly gains on Friday after a searing rally in their shares over the past few sessions nearly doubled the value of companies such as Nikola.

The surge in EV stocks has come without any apparent news or catalyst for the companies, leading several analysts and traders to point to a potential squeeze in the highly shorted stocks.

For instance Lordstown Motors has a short interest of 16.5%, according to S3 Partners. Other big gainers such as Nikola and Workhorse Group have short interests of 21.7% and 23.9%, respectively.

Morgan Stanley - NIO's 'pricing of ET5 Touring is more competitive', reiterates Overweight

Morgan Stanley reiterated an Overweight rating on Nio Inc. (NYSE: NIO) with a 12-month price target on $12.00 after the Chinese electric automaker announced the pricing for its ET5 Touring at Rmb298k and Rmb356k for the 75kwh and 100kwh versions, respectively, while the BaaS version will sell for... More

Nikola (NKLA) Near High, Up 30%

Nikola (NASDAQ: NKLA) Near High, Up 30%

Increasing unusual call option volume: NKLA MTTR ACHR COHR NEXT LOGI HPE QURE

Increasing unusual call option volume: NKLA MTTR ACHR COHR NEXT LOGI HPE QURE

Tesla's valuation rises by $240 billion amid record winning streak

Investing.com -- Tesla, Inc.(NASDAQ: TSLA) shares are on track to post gains for a record fourteenth straight session, tacking on to a winning streak that has added $240 billion in market value to the... More