Musk says vehicle autonomy is 'main driver' of Tesla value
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BTC Power joins rivals in adopting Tesla's (TSLA) NACS
June 20, 2023 2:43 PM EDTIn 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
June 20, 2023 2:12 PM EDTReuters 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
June 20, 2023 1:52 PM EDTIndustry 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
June 20, 2023 11:45 AM EDTCanaccord 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
June 20, 2023 10:50 AM EDTHyundai 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
Bernstein optimistic as China EV sales show resilience
June 20, 2023 9:28 AM EDTBernstein 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
June 20, 2023 8:56 AM EDTReuters 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
June 20, 2023 8:26 AM EDTHyundai 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
June 20, 2023 8:02 AM EDTCiti 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
June 16, 2023 1:48 PM EDTTesla (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
