Rivian (RIVN) acquires rout planning app maker Iternio

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

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

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

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

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

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) 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

Rivian Automotive (RIVN) Acquires "A Better Routeplanner"

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

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

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

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

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

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

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

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%.

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

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%.

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

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

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

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

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 (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

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

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

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

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

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

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

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

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