Rivian to adopt Tesla's charging standard in EVs and chargers

Tesla (TSLA) said to be acquiring wireless charging company, Wiferion

Tesla (NASDAQ: TSLA) is said to be in the midst of acquiring Wiferion, a Germany-based electric vehicle (EV) wireless charging company. An acquisition that could pave the way for Tesla to introduce a wireless home charging solution in the future.

The German edition of Business Insider, citing an anonymous source, reports that Wiferion is set to transfer its business to Tesla International BV. The... More

Rivian (RIVN) acquires rout planning app maker Iternio

Rivian (NASDAQ: RIVN) announced Wednesday that the electric vehicle maker has acquired Swedish EV route planning app maker Iternio. According to CEO RJ Scaringe the automaker plans to include the technology in its electric pickups and sport utility vehicles, as well use its data to better expand its own charging network.

Scaringe did not disclose the value of the deal but said it was closed in the first quarter.

This news follows... More

Rivian (RIVN) owners poll shows overwhelming support for NACS adoption

American electric vehicle maker Rivian (NASDAQ: RIVN) announced earlier this week that the company will be joining fellow automakers Ford (NYSE: F) and General Motors (NYSE: GM) in adopting Teslas (NASDAQ: TSLA) North American Charging Standard (NACS).

A look at the companys owners forum reveals a strong consensus among owners and enthusiasts of the electric vehicle manufacturer's trucks in... More

Tesla (TSLA) takes top 4 spots on Cars.com 2023 AMI rankings

Cars.com released their American-Made Index ranks on Wednesday for vehicles built and bought in the U.S. for 2023. For the third year (Second in a row), Tesla (NASDAQ: TSLA) topped the list with their Model Y SUV claiming the number one spot. The electric automakers Models 3, X, and S rounded out... More

A Railcar shortage is slowing auto deliveries

A recent report from the Detroit Free Press highlighted the challenges faced by automobile manufacturers in delivering new vehicles, attributing the constraints to difficulties in sourcing rail cars. According to the article, by the end of May, approximately 70,000 new vehicles were awaiting shipment from production facilities across the industry. Additionally, due to the widespread challenges, the stall in production resulted in the... More

EVs gain as China extends tax breaks

Shares of Chinese electric vehicle companies NIO Inc (NYSE: NIO), Li Auto (NASDAQ: LI) and XPeng (NYSE: XPEV) are up by nearly 3% in pre-market trading on Wednesday after China extended a tax exemption policy for new energy vehicles (NEV).

According to the policy, jointly... More

Texas will be first state to require Tesla (TSLA) standard on federally funded EV chargers

Shares of Tesla (NASDAQ: TSLA) are up 1.21% in pre-market trading Wednesday after the Texas Department of Transportation announced late Tuesday that the state would require electric vehicle charging companies to include both Tesla's standard as well as the nationally recognized CCS if they want to be part of a state program to electrify highways using federal dollars.

Texas is the first state that will mandate Tesla's... More

Mizuho cuts estimates as Rivian (RIVN) continues production ramp

Mizuho reiterated a Buy rating on Rivian Automotive (NASDAQ: RIVN) and cut their 12-month price target on the stock to $27.00 (From $30.00) as the company continues to ramp production and prepare factories for increased capacity.

Analyst Vijay Rakesh wrote in a note, RIVN only produced 10.4k vehicles in the MarQ due to continued supply chain constraints, mainly at SiC and IGBT suppliers, and the shutdown of EDV lines for Enduro and LFP battery retooling. RIVN has reaffirmed its 50k production target for C23E. We... More

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

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