Polestar (PSNY) to adopt Tesla's (TSLA) NACS in US and Canada

Rivian (RIVN) jumps 14% after smashing 2Q delivery estimates

Shares of California-based electric automaker, Rivian (RIVN) surged almost 14% in early trading Monday after the EV start-up overcame Wall Street expectations to deliver 12,640 vehicles in the second quarter. A 59% increase over last years delivery results.

It produced 13,992 vehicles at its manufacturing facility in Normal, Illinois during the same... More

Chinese EV start-ups surge following June delivery numbers

Shares of Chinese electric vehicle makers Nio (NYSE: NIO), Li Auto (NASDAQ: LI) and XPeng (NYSE: XPEV) are surging pre-market after the three announced June delivery numbers.

NIO is up 4.2% in pre-market trading Monday after the Chinese automaker announced over the weekend that they delivered 10,707 last month, a 17.4% drop from the same time last year, but a significant 74% increase from numbers reported... More

GM acquires software startup, Algolion to detect early battery defects

General Motors (NYSE: GM) announced Friday that the automotive company has acquired Israel-based Algolion Ltd, a software startup that helps detect problems in batteries.

GM said Algolion's software will help the Detroit automaker bring to the market a "cost-effective" early hazard detection... More

XPeng (XPEV) climbs after G6 priced below Tesla (TSLA) Model Y

Shares of Xpeng Inc. (NYSE: XPEV) are up nearly 14% and counting on Friday after the Chinese electric automaker revealed the starting price for the companys new G6 smart SUV is about 20% below the cost of Teslas (NASDAQ: TSLA) Model Y in the country.

The pricing comes at a time when EV giant Tesla's sales China... More

Deutsche Bank expects continued strength in June auto sales

The auto industry is gearing up to announce their sales figures for June, and according to Deutsche Bank, there is an anticipation of the US light vehicle SAAR reaching approximately 15.5 million units. This would mark an increase from May's 15.1 million units, mainly attributed to more favorable seasonal factors. Moreover, the projected figure for June 2023 is notably higher than June 2022, which stood at 13.2 million units.

Analyst, Emmanuel Rosner wrote in a note, We expect June US light vehicle SAAR to come in around 15.5m units, up from 15.1m in May... More

Ford (F) signs initial deal to sell Germany plant to investor

Ford Motors (NYSE: F) held a work meeting Friday where the Detroit automaker revealed that they have found what was described as a major international investor for Fords German plant in Saarlouis and has signed initial agreements together with the western state of... More

Stock market today: Dow ends down as Powell talks up more rate hikes; Tech climbs

Investing.com -- The Dow slipped Wednesday, but a climb in big tech kept losses in check as Treasury yields slipped even as Federal Reserve chairman Jerome Powell insisted that further rate hikes remain in play after a pause last month.

The Dow Jones Industrial Average fell 0.2%, or 78 points, the Nasdaq rose 0.3%, and the S&P 500 was flat.

Google (NASDAQ: GOOGL) led the... More

S&P 500 slips as Powell insists rate hikes aren't over; Tech gains stifle losses

Investing.com -- The S&P 500 slipped Wednesday, as investors weighed a climb in big tech and remarks from Federal Reserve chairman Jerome Powell insisting that the rate hikes remain in play after a pause last month.

The S&P 500 fell 0.2%, the Dow Jones Industrial Average fell 0.4%, or 126 points, and the Nasdaq rose 0.1%.

Google (NASDAQ: GOOGL) led the climb in the big tech, rising... More

ChargePoint (CHPT) expands availability of Tesla (TSLA) NACS at charging stations

On Wednesday, ChargePoint (CHPT), an electric vehicle charging equipment company, revealed that they have made Tesla's (NASDAQ: TSLA) North American Charging Standard (NACS) connectors accessible for new orders and existing installations of CP6000, Express 250, and Express Plus for their customers.

ChargePoint will add... More

Active options: TSLA NVDA AAPL AMZN CCL AMD SOFI PLTR COIN

Active options: TSLA NVDA AAPL AMZN CCL AMD SOFI PLTR COIN

Blink (BLNK) will expand NACS adoption to include entire product line

EV charging equipment company, Blink Charging (NASDAQ: BLNK) announced Wednesday that they have expanded their commitment to embrace the Tesla (NASDAQ: TSLA) Standard by incorporating both the North America Charging Standard (NACS) and Combined Charging System (CCS) into Blinks entire state-of-the-art line of charging products.

Earlier this month, the company made an announcement regarding the integration of NACS connections into their latest 240kW DC Fast Charger. However, Blink has gone a step further to ensure the satisfaction of all drivers, regardless of their vehicle model, by... More

Active options: TSLA NVDA AMZN AMD AAPL NFLX COIN CCL

Active options: TSLA NVDA AMZN AMD AAPL NFLX COIN CCL

Tesla to hit record quarterly sales in China even as market share shrinks - analysts

SHANGHAI (Reuters) - Tesla is set to hit another record quarter with its China sales while it faces mounting pressure from local competitors such as BYD eating into its share in the world's largest auto market, analysts say.

The U.S. automaker could sell 155,000 cars in China during April to June, an increase of 13% from its record first quarter, according to estimations by Shi Ji, an analyst with China Merchants Bank International Securities.

However, Tesla's share in China's battery electric car market would shrink in the quarter to 13.7% from 16% in the first three months, while BYD... More

Tesla charging technology put on fast track to become US standard

By Hyunjoo Jin and Trevor Hunnicutt

(Reuters) -Tesla's electric-vehicle charging technology is being put on a fast track to become a North American standard, giving a further boost to the automaker's plan to expand access to its once-exclusive chargers.

Tesla's charging technology has been gathering momentum for weeks. Volvo Car on Tuesday joined General Motors, Ford and Rivian in embracing Tesla's charging design, shunning earlier efforts by the Biden administration to make the Combined Charging System (CCS) the dominant charging standard in the United States.

SAE International aims to make an industry standard configuration of Tesla's... More

Stellantis (STLA) launches new EV charging service, aims to relieve 'charging anxiety'

Franco-American automaker and Jeep parent company, Stellantis (NYSE: STLA) launched 'Charging & Energy' business unit Free2move Charge on Tuesday, with the aim to make it easier to keep electric vehicles on the road and cash in on an expanding range of services around greener... More

Ford (F) to cut at least 1,000 salaried and contract workers

The Wall Street Journal reports Tuesday, citing unnamed sources, that Ford (NYSE: F) plans to lay off at least 1,000 salaried and employees and contract workers in North America in an effort to offset the heavy cost of investing in electric cars.

According to sources,... More

Active options: TSLA NVDA AMZN AAPL AMD GOOGL META

Active options: TSLA NVDA AMZN AAPL AMD GOOGL META

Ford Motor (F) to Lay Off At Least 1,000 Salaried and Contract Workers, Sources Say - WSJ

Ford Motor (NYSE: F) to Lay Off At Least 1,000 Salaried and Contract Workers, Sources Say - WSJ

Washington State plans to mandate Tesla's (TSLA) NACS

Washington State officials revealed Thursday that the state plans to follow Texas lead requiring electric vehicle charging companies to include Tesla's (NASDAQ: TSLA) North American Charging Standard (NACD) plug, commonly referred to as the Tesla Standard, to their charging stations if they plan to be a part of a state program to electrify highways using federal dollars.

General Motors (NYSE:... More

Tesla (TSLA) autopilot crashes into stopped semi-truck

According to the police, an incident occurred on Friday night in Pennsylvania where a Tesla (NASDAQ: TSLA) vehicle, utilizing its Full Self-Driving (FSD) autopilot software, collided with a stationary truck on a highway, further intensifying the examination of the automaker's driver assistance system.

On Monday, the Pennsylvania State Police revealed that the... More

Tesla (TSLA) remains Underperform at Bernstein, sees near term impact of NACS adoption as limited

Bernstein reiterated an Underperform rating and $150.00 price target on Tesla Inc. (NASDAQ: TSLA) after rival automakers Ford (NYSE: F), General Motors (NYSE: GM) and Rivian (NASDAQ: RIVN) decided to adopt the companys North American Charging Standard (NACS) connectors. Other third-party networks such as EVgo (NASDAQ: EVGO) and Blink... More

Tesla (TSLA) remains top pick at Baird ahead of 2Q delivery and results

Baird reiterated an Outperform rating and $252.00 price target on Tesla (NASDAQ: TSLA) ahead of the electric automakers 2Q delivery and earnings results. Baird continues to consider the company a Best Pick for the year.

Analyst Ben Kallo wrote in a note, We consider TSLA a core holding... More

GM Defense to Prototype an Advanced Energy Storage System for the Defense Innovation Unit (GM)

GM Defense, a subsidiary of General Motors, was selected by the Department of Defense's (DoD) Defense Innovation Unit (DIU) to prototype an energy storage unit. GM Defense's solution will meet the requirements of DIU's Stable Tactical Expeditionary Electric Power (STEEP) program. STEEP seeks to support tactical microgrid and energy management capabilities in austere locations, reducing logistical requirements and the reliance on fossil fuels as... More

Tesla (TSLA) still a Best Pick for 2023 at Baird

Baird analyst Ben Kallo on Tesla (NASDAQ: TSLA): "We consider TSLA a core holding and continue to like it as a Best Pick for the year. With that said, we think sentiment headed into the quarter is negative and stock likely trades... More

Bernstein's Sacconaghi estimates that supercharging could be a $12B revenue opportunity for Tesla (TSLA) in 2030

Bernstein analyst Toni Sacconaghi weighs in on how big could the Supercharging opportunity be for Tesla (NASDAQ: TSLA): "We estimate that Tesla's Supercharging generated ~$600M in revenue in 2022. This translates to ~$160 per car per year, and represents ~0.7% of total company revenues. We... More

Tesla (TSLA) 30-day option implied volatility flat

Tesla (NASDAQ: TSLA) 30-day option implied volatility is at 63; compared to its 52-week range of 44 to 96.