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

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General Motors (GM) updates pricing and specs for Silverado EV

June 26, 2023 3:30 PM EDT

Detroit automaker, General Motors (NYSE: GM) revealed updated pricing a specs for their upcoming Chevrolet Silverado EV after announcing that they have decided to scrap plans to offer a base version of the Silverado EV with a $39,000 price tag.

"A lot has changed in the last year and a half, a lot of economic and industry pressure, we are going to increase that price," said Amy Masica, head of... More

Tesla (TSLA) recalls Model 3 and Model Y for battery issue

June 26, 2023 1:19 PM EDT

Over the weekend, Tesla (NASDAQ: TSLA) announced a recall affecting 26 of its 2023 Model 3 and Model Y vehicles due to a potential defect in the pyrotechnic battery disconnect. According to the safety report from the National Highway Traffic Safety Administration (NHTSA), the faulty battery disconnect may fail to isolate the high voltage battery of the vehicle following a crash or fault... More

General Motors (GM) signs supply chain deal with Element 25

June 26, 2023 10:55 AM EDT

Australian mining company, Element 25 revealed Monday that they have been chosen to supply manganese sulphate to General Motors (NYSE: GM). Manganese sulphate is an important raw material needed to make batteries for electric vehicles.

According to a news release by GM, Element 25 will supply the Detroit automaker with enough manganese sulfate needed to scale electric vehicle capacity in North America to 1... More

Ford (F) cuts contract workers ahead of planned layoffs

June 26, 2023 8:43 AM EDT

Ford (NYSE: F) notified contract workers employed by outside companies late Friday that their services would no longer be needed, the Michigan automaker confirmed Saturday.

The company alerted some workers who are employed by outside agencies that their contracts were not being renewed. When asked how many people would not be reporting to work Monday, Ford spokesman T.R. Reid said, "Were not providing numbers."

"People in certain agency positions across a few skill teams were notified by their employers that their assignments at Ford have ended," Reid told reporters. "The... More

Deutsche Bank raises estimates ahead of Tesla’s (TSLA) 2Q delivery report

June 26, 2023 8:14 AM EDT

Deutsche Bank reiterated a Buy rating on Tesla (NASDAQ: TSLA) and raised their 12-month price target on the stock to $230.00 (From $200.00) ahead of the companys 2Q23 deliveries and earnings report.

Tesla is scheduled to report its delivery and production numbers for the second quarter of 2023 during the upcoming weekend. Deutsche Bank revised their estimates for the second quarter's deliveries to 448,000 units, indicating a 76% year-on-year increase and a... More

Tesla (TSLA) PT Raised to $230 at Deutsche Bank

June 26, 2023 6:06 AM EDT

Deutsche Bank analyst Emmanuel Rosner raised the price target on Tesla (NASDAQ: TSLA) to $230.00 (from $200.00) while maintaining a Buy rating.

The analyst comments "We continue to view Tesla as an EV leader in the autos sector and more recently this has especially manifested in the EV charging space as OEMs onboard the companys... More

Ford (F) prepares for new round of layoffs amid cost-cutting measures

June 22, 2023 5:53 PM EDT

The Wall Street Journal reports Thursday, citing people familiar with the situation, that Ford Motor Company (NYSE: F) is preparing to begin another round of layoffs in the coming weeks.

These layoffs, part of a larger effort to streamline operations and cut costs, are the latest of several that Ford has initiated in less than a year and could be... More

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

June 22, 2023 3:55 PM EDT

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

General Motors (GM) hires former Google exec Lin-Hua Wu as CCO

June 22, 2023 3:14 PM EDT

General Motors (NYSE: GM) revealed Thursday that the company has appointed former Google (NASDAQ: GOOG) executive, Lin-Hua Wu as senior vice president and chief communications officer. Wu replaces Craig Buchholz, who left the automaker May 1, said... More

Rivian (RIVN) acquires rout planning app maker Iternio

June 22, 2023 2:00 PM EDT

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

Tesla (TSLA) 30-day option implied volatility flat as shares trade $259

June 22, 2023 10:24 AM EDT

Tesla (NASDAQ: TSLA) 30-day option implied volatility is at 65; compared to its 52-week range of 44 to 96.

... More

Ford (F), SK joint venture to receive $9.2B federal loan for EV battery plants

June 22, 2023 9:56 AM EDT

The U.S. department of energy revealed Thursday their intention to loan up to $9.2 billion in federal funds to a joint venture of Ford Motor (F) and SK On to help finance construction of three new battery manufacturing plants in Tennessee and Kentucky.

The government's Advanced Technology Vehicles Manufacturing (ATVM) loan... More

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June 22, 2023 9:49 AM EDT

Active options: TSLA AMZN NVDA AMD AAPL AMC PLTR META BA MARA

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Ford-SK venture to get $9.2 billion US loan for battery plants

June 22, 2023 8:24 AM EDT

By David Shepardson

WASHINGTON (Reuters) - The U.S. Energy Department plans to lend up to $9.2 billion to a joint venture of Ford Motor and South Korea's SK On to help it build three battery plants in Tennessee and Kentucky, the biggest-ever award from the government program.

The conditional commitment for the low-cost government loan for the BlueOval SK joint venture comes from the government's Advanced Technology Vehicles Manufacturing (ATVM) loan program.

SK is a unit of South Korea's SK Innovation. The joint venture is building two battery manufacturing plants in Kentucky and one in Tennessee capable... More

Tesla, Darden Restaurants, Accenture fall premarket; Root rises

June 22, 2023 8:23 AM EDT

Investing.com -- Stocks in focus in premarket trade on Thursday, June 22nd. Please refresh for updates.

Amazon (NASDAQ: AMZN) stock rose 0.2% even after the U.S. FTC accused the online... More

Ford Motor (F) EV Battery Venture Awarded $9.2B Loan From US Energy Dept - Bloomberg

June 22, 2023 8:02 AM EDT

Ford Motor (F) EV Battery Venture Awarded $9.2B Loan From US Energy Dept - Bloomberg

... More

Tesla (TSLA) losses one of its biggest Street bulls as Morgan Stanley’s Jonas cuts rating

June 22, 2023 6:52 AM EDT

Morgan Stanley analyst Adam Jonas downgraded Tesla (NASDAQ: TSLA) shares to Equal Weight from Overweight, sending shares almost 4% lower in pre-market Thursday.

The analyst raised the price target to $250 per share from the prior $200, with the new target suggesting a modest downside to yesterdays closing price. Tesla shares closed 5.5% lower yesterday.

Jonas has been one of the most vocal Tesla bulls on the Street in recent years. However, he is... More

Morgan Stanley Downgrades Tesla (TSLA) to Equalweight

June 22, 2023 6:18 AM EDT

(Updated - June 22, 2023 7:09 AM EDT)

Morgan Stanley analyst Adam Jonas downgraded Tesla (NASDAQ: TSLA) from Overweight to Equalweight with a price target of $250.00 (from $200.00).

The analyst comments: "We raise our Tesla price target to $250 from $200, Bear Case valuation to $90 from $70, and Bull... More

Stock market today: Dow ends lower as Powell's hawkish testimony keeps tech on ice

June 21, 2023 5:14 PM EDT

By Yasin Ebrahim


Investing.com -- The Dow closed lower Wednesday as investors continued to hit pause on tech after Federal Reserve Chairman Jerome Powell talked up the need to resume rate hikes later this year.


The Dow Jones Industrial Average fell 0.3%, or 102 points, the Nasdaq fell 1.2%, and the S&P 500 fell 0.5%.


Powell Makes Hawkish Play

The Feds projections, released last week, calling for a further two rate hikes this year are a pretty good guess for the path of monetary policy should inflation continue to trend above the Feds 2%... More

Rivian Automotive (RIVN) Acquires "A Better Routeplanner"

June 21, 2023 5:01 PM EDT

Rivian Automotive, Inc. (NASDAQ: RIVN) has today announced the acquisition of Swedish mapping company Iternio, developer of the A Better Routeplanner (ABRP) app. ABRP is an industry leader in EV trip planning and has a strong community of EV drivers in both North America and Europe. ABRP gives EV drivers the ability to plan and compare routes and charging stop options.

Rivian and Iternio will continue to maintain and improve ABRP as a stand-alone app for drivers of any EV, as well as integrating ABRPs technology into Rivians in-vehicle navigation system and newly... More

Rivian acquires route planning app maker Iternio - CEO

June 21, 2023 3:13 PM EDT

By Abhirup Roy and Akash Sriram

SAN FRANCISCO (Reuters) - Rivian has acquired Swedish EV route planning app maker Iternio to add its technology to its electric pickups and sport utility vehicles, as well use its data to better expand its own charging network, its CEO told Reuters on Wednesday.

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

This comes after... More

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June 21, 2023 3:00 PM EDT

Active options: TSLA NVDA AMD AAPL AMZN NKLA MARA INTC PLTR RIVN

... More

Active options: TSLA MARA NVDA AAPL NIO AMZN PYPL RIVN

June 21, 2023 9:47 AM EDT

Active options: TSLA MARA NVDA AAPL NIO AMZN PYPL RIVN

... More

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

June 21, 2023 9:35 AM EDT

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

Tesla returns to S&P 500 ESG index with more environmental disclosures

June 21, 2023 9:21 AM EDT

By Ross Kerber

(Reuters) - Tesla Inc has returned to the S&P 500 ESG index, the sustainable investing-focused market index, after the electric car maker added environmental disclosures. Tesla was cut from the index last year because of issues including claims of racial discrimination and crashes linked to its autopilot vehicles. The removal prompted Chief Executive Elon Musk to responds with tweets such as "ESG is a scam". The... More

A Railcar shortage is slowing auto deliveries

June 21, 2023 8:55 AM EDT

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

June 21, 2023 8:25 AM EDT

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

FedEx, Winnebago fall premarket; Tesla, Spotify rise

June 21, 2023 8:05 AM EDT

Investing.com -- Stocks in focus in premarket trade on Wednesday, June 21st. Please refresh for updates.

FedEx (NYSE: FDX) stock fell 2.2% after the delivery giant issued a profit warning, saying ongoing "demand challenges" prompted its plans to ground 29 more aircraft in the fiscal year that... More

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

June 21, 2023 7:55 AM EDT

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

June 21, 2023 7:40 AM EDT

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

Rivian Automotive Inc (RIVN) PT Lowered to $27 at Mizuho Securities

June 21, 2023 6:34 AM EDT

Mizuho Securities analyst Vijay Rakesh lowered the price target on Rivian Automotive Inc (NASDAQ: RIVN) to $27.00 (from $30.00) while maintaining a Buy rating.... More

Tesla, Chinese EV stocks gain as China extends tax breaks through 2027

June 21, 2023 6:21 AM EDT

Chinese EV stocks are higher in pre-open trading Wednesday after China said it would extend tax breaks on clean energy cars purchases through 2027:

Li Auto Inc. (NASDAQ: LI) +3.5%NIO Inc. (NYSE: NIO) +2%Tesla (NASDAQ: TSLA) +1.5% (was downgraded at Barclays today)XPeng Inc. (NYSE: XPEV) +3%
... More

Tesla (TSLA) stock downgraded at Barclays after a 'too sharp' rally

June 21, 2023 5:46 AM EDT

Barclays analyst Dan Levy downgraded Tesla (NASDAQ: TSLA) shares to Equal Weight from Overweight as he believes the recent sharp run-up in shares is ignoring questions on near-term fundamentals.

Since its bottom in late April, Tesla stock has rallied ~70% vs. S&P +8%.

While Tesla stock movements tend to be driven by more than fundamentals sometimes, Levy is cautious to jump on the bandwagon. He believes that the rally is mostly driven... More

Powell, U.K. inflation, Tesla's investment - what's moving markets

June 21, 2023 5:30 AM EDT

Investing.com -- Fed chief Jerome Powell starts his congressional testimony later in the session, after data showed that U.K. inflation remained elevated in May. Tesla is looking towards India for investment, while FedEx disappoints with its earnings.

1. Powell starts congressional testimony

Federal Reserve chief Jerome Powell starts his two-day congressional testimony later Wednesday, addressing the House Financial Services Committee just a week after the U.S. central bank paused rate increases but signaled it could raise rates again this year.

The Fed projected that the benchmark rate... More

Active options: TSLA NVDA AAPL MARA AMD AMZN PYPL PLTR SOFI

June 21, 2023 4:54 AM EDT

Active options: TSLA NVDA AAPL MARA AMD AMZN PYPL PLTR SOFI

... More

Tesla (TSLA) option IV increases

June 21, 2023 4:46 AM EDT

Tesla (NASDAQ: TSLA) 30-day option implied volatility is at 66; compared to its 52-week range of 44 to 96.

... More

Rail car constraints present concerns around trapped inventory - Barclays

June 21, 2023 4:44 AM EDT

Barclays analyst Dan Levy weighs in on the report about issues with sourcing rail cars for shipping new vehicles.

"We believe this warrants flagging as a potential risk into 2Q for our coverage OEMs in the event that timing of shipments creates a large set of vehicles... More

Barclays Downgrades Tesla (TSLA) to Equalweight

June 21, 2023 2:14 AM EDT

Barclays analyst Dan Levy downgraded Tesla (NASDAQ: TSLA) from Overweight to Equalweight with a price target of $260.00 (from $220.00).


For an analyst ratings summary and ratings history on Tesla click here. For more ratings news on Tesla click here.


Shares of Tesla closed at $274.45 yesterday.

... More

China unveils $72 billion tax break for EVs, other green cars to spur demand

June 20, 2023 10:16 PM EDT

By Qiaoyi Li and Liz Lee

BEIJING/SHANGHAI (Reuters) -China unveiled on Wednesday a 520 billion yuan ($72.3 billion) package of tax breaks over four years for electric vehicles (EVs) and other green cars, its biggest yet for the industry as it seeks to boost slower auto sales growth.

Weakening sales growth in the world's biggest auto market has raised concern over China's economic growth and while financial support was widely expected after an earlier government pledge to promote the industry, shares in major automakers jumped after the details were released.

"The extension by another four years beat market... More

Exclusive-Tesla wins as Texas requires state-backed charging stations to include its plug

June 20, 2023 5:54 PM EDT

By Jarrett Renshaw and Hyunjoo Jin

(Reuters) -Tesla scored a series of victories for its charging technology on Tuesday, capped by Texas saying it 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.

Earlier in the day, Reuters was first to report both that electric pickup truck maker Rivian was backing Tesla and that charger maker BTC Power would support the standard. Those announcements follow decisions by GM and Ford to add Tesla... More

Texas to require EV charging companies to include Tesla's (TSLA) NACS standard - Reuters

June 20, 2023 5:36 PM EDT

(Updated - June 20, 2023 5:39 PM EDT)

Texas to require EV charging companies to include Tesla's (NASDAQ: TSLA) NACS standard as well as CCS to join state program using federal funds - Reuters

... More

Stock market today: Dow stumbles as energy slides ahead of Powell testimony

June 20, 2023 4:23 PM EDT

Investing.com -- The Dow closed lower Tuesday, pressured by energy stocks as investors paused their bullish bets on stocks ahead of the Federal Reserve chairman Jerome Powells testimony before Congress due Wednesday.


The Dow Jones Industrial Average fell 0.7%, or 245 points, the Nasdaq fell 0.2%, and the S&P 500 fell 0.5%.


All Eyes on Fed Chairman Powell

Testimony from Federal Reserve Chairman Jerome Powell this week - before the House Financial Services Committee and the Senate Banking Committee on Wednesday and Thursday, respectively - will be closely watched for clues on how strongly... More

S&P 500 pares some losses, but keeps up pressure ahead of Powell

June 20, 2023 3:54 PM EDT

Investing.com -- The S&P 500 pared some losses Tuesday, but remained in the red as investors paused their bullish bets on stocks ahead of the Federal Reserve chairman Jerome Powells testimony before Congress due Wednesday.


The S&P 500 fell 0.4%, the Dow Jones Industrial Average fell 0.7%, or 228 points, and the Nasdaq fell 0.1%.


All Eyes on Fed Chairman Powell

Testimony from Federal Reserve Chairman Jerome Powell this week - before the House Financial Services Committee and the Senate Banking Committee on Wednesday and Thursday, respectively - will be closely watched for clues on... More

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

June 20, 2023 2:43 PM EDT

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

GM investing $920 million in Ohio diesel engine plant

June 20, 2023 2:30 PM EDT

By David Shepardson

WASHINGTON (Reuters) - General Motors on Tuesday said it was investing $920 million to expand operations at its Ohio diesel engine plant for production of future internal combustion engine (ICE) heavy-duty truck powertrain products.

In total, the largest U.S. automaker has announced in June more than $3.2 billion in investments to support next-generation ICE production, even as it vows to stop the sale of new gasoline- and diesel-powered vehicles by 2035 in favor of electric vehicles.

... More

Tesla Standard: BTC Power Joins Move To Add To EV Chargers - Reuters

June 20, 2023 2:24 PM EDT

Tesla Standard: BTC Power Joins Move To Add To EV Chargers - Reuters

EV Charger Maker BTC Power To Add Tesla's Charging Standard To Its Products Next Year - CEO... More

Exclusive-Tesla standard: BTC Power joins move to add to EV chargers

June 20, 2023 2:12 PM EDT

By Abhirup Roy

SAN FRANCISCO (Reuters) - BTC Power will add Tesla's standard to its electric vehicle chargers next year, its chief executive told Reuters on Tuesday, days after Ford and General Motors sent shockwaves through the industry by adopting the technology.

Privately-owned BTC, a supplier to 7-Eleven and fleet operators, is the fourth major fast charger maker to embrace Tesla's standard, following ABB E-mobility North America, Tritium DCFC, and SK Signet.

A national EV charging network is key to addressing... 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 EDT

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

U.S. stocks are falling after housing data stoked rate fears

June 20, 2023 1:55 PM EDT

Investing.com -- Stocks were falling at the start of a holiday-shortened week after housing data stoked worries about interest rates.


U.S. single-family housing starts jumped 21.7% in May from the prior month its highest in more than a year, and permits issued for future construction also climbed, indicating that the housing market may be turning a corner.


At 12:06 ET (16:06 GMT), the Dow Jones Industrial Average was down 306 points or 0.9% while the S&P 500 was down 0.7% and the... More

Midday movers: Rivian Automotive, PayPal, Airbus and more

June 20, 2023 1:55 PM EDT

Investing.com -- Stocks are falling after stronger-than-expected data on housing stoked fresh fears about interest rates. Here are the market movers for June 20.


Rivian Automotive Inc (NASDAQ:... More

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

June 20, 2023 1:52 PM EDT

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

Tesla's Musk says eyeing significant India investments after meeting Modi

June 20, 2023 1:39 PM EDT

By Hyunjoo Jin and Shivangi Acharya

SAN FRANCISCO/NEW DELHI (Reuters) -Tesla chief executive Elon Musk said India's Prime Minister Narendra Modi was pushing the car maker to make a "significant investment" in the country, adding that such an announcement was expected soon.

His comments came after a meeting with Modi on Tuesday during the Indian leader's state visit to the United States. A source previously told Reuters that Musk would brief Modi on plans to set up a manufacturing base in India.

India has strong potential for a sustainable energy future including solar power, stationary... More

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June 20, 2023 12:19 PM EDT

Active options: BABA SOFI MARA AMC F META RIVN SPCE CCL GOOGL NIO

... More

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

June 20, 2023 11:45 AM EDT

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

June 20, 2023 10:50 AM EDT

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

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June 20, 2023 10:39 AM EDT

Active options: TSLA NVDA AAPL AMD AMZN META MSFT GOOGL

... More

Bernstein optimistic as China EV sales show resilience

June 20, 2023 9:28 AM EDT

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

June 20, 2023 8:56 AM EDT

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

Rivian Automotive (RIVN) Announces Adoption of North American Charging Standard and Access to Tesla’s Supercharger Network for Rivian Drivers

June 20, 2023 8:46 AM EDT

Rivian Automotive, Inc. (NASDAQ: RIVN) today announced it has signed an agreement with Tesla to provide Rivian drivers access to Teslas Supercharger network across the United States and Canada. Central to its mission to electrify and decarbonize transportation, Rivian will also continue to expand its own Rivian Adventure Network.

An adapter will be available to enable Rivian's award-winning R1T and R1S to charge on the Supercharger network as early as spring 2024. Rivian will incorporate North American Charging Standard (NACS) charge ports as standard in future R1 vehicles starting in... More

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

June 20, 2023 8:28 AM EDT

By Abhirup Roy

SAN FRANCISCO (Reuters) -Electric vehicle maker Rivian said on Tuesday it will adopt Tesla's charging standard, giving Rivian customers access to the biggest U.S. charging network and adding momentum to Tesla's bid to set the industry standard.

Rivian said its customers will be able to access 12,000 Tesla Superchargers with adapters in the United States and Canada as early as spring 2024. The company, which has its own small network of fast chargers, will also make a Tesla-style charging port standard on its vehicles starting in 2025.

"We prefer the Tesla connector, which is... More

Hyundai increases annual EV investment to $28B

June 20, 2023 8:26 AM EDT

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

Rivian Will Make Tesla-style Charging Ports Standard On Its Vehicles From 2025

June 20, 2023 8:26 AM EDT

Rivian Will Make Tesla-style Charging Ports Standard On Its Vehicles From 2025

... More

Rivian Owners To Be Able To Access Tesla Superchargers From 2024 With Adapters - Statement

June 20, 2023 8:25 AM EDT

Rivian Owners To Be Able To Access Tesla Superchargers From 2024 With Adapters - Statement

... More

Citi cuts estimates on EV charging stocks

June 20, 2023 8:02 AM EDT

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

Active options: TSLA NVDA AMD AAPL SOFI AMZN NIO MSFT META

June 20, 2023 4:11 AM EDT

Active options: TSLA NVDA AMD AAPL SOFI AMZN NIO MSFT META

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