Renault CEO says Ampere IPO value could reach $10 Billion

Rivian (RIVN) is expecting cheaper prices for battery materials in 2024

Electric vehicle maker, Rivian made an appearance at the Goldman Sachs Communacopia + Technology conference Thursday where the companys finance chief Claire McDonough shared an optimistic outlook for Rivian's future, highlighting an expected significant decrease in battery material prices in 2024.

A surge in demand for EVs has lead to... More

UAW president calls GM counteroffer 'insulting'

General Motors (NYSE: GM), Thursday, presented a counteroffer to the United Auto Workers (UAW) union, aiming to prevent an expensive strike. However, the President of the United Auto Workers, Shawn Fain, called the proposal "insulting."

GM mentioned that they put forward an offer to the union ahead of the September 14 contract deadline, offering workers a 10% pay raise and two extra annual lump sum payments of 3% each over four years.

Fain, who represents 146,000 workers, said GM's offer was "an insulting proposal that doesnt come close to an equitable agreement for Americas... More

Deutsche Bank warns of downside risk on Tesla (TSLA)

Deutsche Bank hosted investor meetings with Tesla as part of the IAA Cars Conf. In the very near term, we came away with the sense there could be downside risk to investors expectations for volume and margin in Q3, reflecting planned summer production shutdowns which will push both production and deliveries down QoQ, discounts on inventories, and limited positive costs offsets... More

UAW issues counteroffer to Ford (F); awaits Stellantis (STLA) offer later this week

On Wednesday, the United Auto Workers (UAW) union presented their own counterproposal on money matters for Ford Motor (NYSE: F). Meanwhile, Stellantis (NYSE: STLA), the parent company of Chrysler, is getting ready to share their counteroffer later this week.

As the current four-year labor agreements covering 146,000 workers at the Detroit Three automakers are set to expire on September 14, discussions are becoming increasingly... More

UAW to send counteroffer to Ford (F)

According to an undisclosed insider cited by Reuters Wednesday, the United Auto Workers union intends to present a counterproposal concerning economic matters in their labor contract negotiations with Ford Motor (NYSE: F).

Last week, Ford announced that it had extended an offer of a... More

Tesla (TSLA) China celebrates 2M vehicle production milestone

On Wednesday, Tesla's China branch made an announcement about a significant achievement at their Shanghai facility. Through their social media channels, the company shared that Giga Shanghai has reached the remarkable milestone of manufacturing its two millionth vehicle in less than four years since the plant commenced its... More

CFRA warns of potential for 'lengthy UAW strike'

As the UAW contract deadline approaches, CFRA is warning investors to prepare for a potentially lengthy UAW strike.

Given the impending expiration of the four-year labor agreement, which covers around 150,000 UAW members, on September 14th at midnight, and considering the substantial differences between the two parties in wage negotiations and various other matters, coupled with the UAW's overwhelming approval of strike authorization (with a 97 percent vote, as widely anticipated), CFRA believes that the likelihood of a strike is extremely high. In fact, they are of the opinion that the strike could potentially endure... More

Tests confirm 24 Stellantis (STLA) engine types can run on e-fuels

On Tuesday, Stellantis (NYSE: STLA), the parent company of Chrysler, revealed that they have conducted tests demonstrating that 24 different internal combustion engines installed in European vehicles manufactured by the company since 2014 are capable of utilizing advanced e-fuels without any modifications.

According to a Stellantis... More

German Chancellor reveals plans for EV expansion law at IAA Munich

German Chancellor, Olaf Scholz took a tour of this years IAA car show in Munich on Tuesday where he revealed a groundbreaking initiative to expand the electric vehicle industry in his country.

In his address, he praised the German car industry's dedication to electrification while expressing his disapproval of ongoing protests. Scholz announced a new law, expected in the coming weeks, designed to significantly increase the number of electric vehicle charging stations across the country.

Under... More

Tesla (TSLA) sues Chinese tech firm in IP dispute

Chinese national security newspaper, The Shanghai Securities Journal, reports Tuesday that American electric automaker, Tesla (NASDAQ: TSLA) has filed a lawsuit against Chinese chip designer, Bingling Intelligent Technology, over tech secret infringement and unfair competition disputes.

Tesla alleges that Bingling violated its intellectual property rights, particularly in... More

Stellantis (STLA) and Aramco Collaborate to Increase the Use of eFuel

Stellantis (NYSE: STLA) has concluded that 24 engine families in European vehicles sold since 2014, representing 28 million vehicles on the road, are ready to use advanced drop-in eFuel without any powertrain modification, following months of testing at its technical centers across Europe. The tests were conducted using surrogate eFuels provided by Aramco, one of the worlds leading integrated energy and chemicals companies.

Low-carbon eFuel is a drop-in synthetic fuel made by reacting CO2, captured either directly from the atmosphere or from an industrial facility, with renewable hydrogen.... More

Stellantis' (STLA) Opal plans to launch low-cost EV by 2026

Opel Auto, a German brand owned by Stellantis (NYSE: STLA), spoke on Monday of its aim to introduce an all-electric vehicle priced at approximately 25,000 euros ($26,967) without factoring in incentives, with a target launch around 2026.

Opel/Vauxhall CEO Florian Huettl made a... More

Lowe's, Airbnb, Oracle rise premarket; Charter Communications fall

Investing.com -- U.S. futures traded with small losses Tuesday, as weak Chinese services activity data increased concerns about the economic recovery of the worlds second largest economy.

Here are some of the biggest premarket U.S. stock movers today:

Lowes (NYSE:... More

Tesla sues Chinese firm over tech secret infringement -Chinese state media

BEIJING (Reuters) - Tesla Shanghai has sued a Chinese firm over tech secret infringement and unfair competition disputes, Shanghai Securities Journal reported on Tuesday.

The lawsuit against Bingling Intelligent Technology, a chip designer and auto parts maker based in Changzhou, Jiangsu province, will be heard in the Shanghai... More

Active options: TSLA NVDA AAPL AMD AMZN DIS NIO META MSFT INTC BABA

Active options: TSLA NVDA AAPL AMD AMZN DIS NIO META MSFT INTC BABA

Rivian (RIVN) names former Porsche exec as new CCO

Rivian Automotive, Inc. (NASDAQ: RIVN) revealed Friday that the electric automaker has named former Porsche CEO, Dr. Kjell Gruner as its newest Chief Commercial Officer (CCO) and President of Business Growth effective immediately. Gruner will report directly to Rivian Founder and CEO RJ Scaringe, and will oversee commercial functions at the company, including Sales, Marketing, Customer... More

Active options: TSLA NVDA AAPL AMZN AMD DIS META INTC MSFT PLTR NIO HZNP

Active options: TSLA NVDA AAPL AMZN AMD DIS META INTC MSFT PLTR NIO HZNP

Rivian Automotive (RIVN) Appoints Kjell Gruner as Chief Commercial Officer and President, Business Growth

On September 1, 2023, Rivian Automotive (NASDAQ: RIVN) announced the appointment of Kjell Gruner as the Companys Chief Commercial Officer and President, Business Growth, effective immediately. Dr. Gruner will report directly to Robert Joseph Scaringe, the Companys Chief Executive Officer.

In connection with his appointment, the Company and Dr. Gruner entered into an employment agreement pursuant to which Dr. Gruner will receive an annual base salary of $450,000 and have a target annual incentive bonus opportunity equal to 50% of annual... More

Chinese EV rivals shine in August, Li Auto (LI) hits record sales

Teslas (NASDAQ: TSLA) Chinese rivals reported impressive August delivery numbers on Friday with Li Auto (NASDAQ: LI) achieving an all-time high in sales. XPeng (XPEV) reported its strongest month in over a year, while Nio (NYSE: NIO) came close to achieving a new delivery record.

Li Auto (LI)

Li Auto recorded a 2.3% increase in deliveries, with 34,914 vehicles delivered in August compared to the previous record of 34,134 vehicles in July and an astonishing 664% surge... More

UBS cuts estimates on Renault and Volkswagen as Chinese competition rises

UBS downgraded French automaker, Renault to a Sell rating (From Neutral) and cut their 12-month price target on the automotive stock to 31.00 (From 42.00) as competition from Chinese rivals intensifies.

UBS anticipates continued robust financial performance in the upcoming quarters with the potential for additional positive surprises. However, it is noteworthy that most indicators have ceased to show improvement. An analysis by UBS, including the examination of the BYD teardown Q-Series, leads analyst David Lesne to believe that legacy automakers... More

Tesla (TSLA) cuts prices in China, releases refreshed Model 3

Shares of Tesla (NASDAQ: TSLA) are up 0.16% in pre-market trading Friday morning after the company announced that they have once again cut prices in China.

The electric automaker announced that they have slashed prices for their premium Model S and Model X vehicles sold in China by between 14% and 21%, according to its official website.

The company also revealed Friday their redesigned Model 3, which is manufactured in China and boasts... More

UAW files unfair labor practice charges against GM and Stellantis (STLA) amid contract dispute

On Thursday night, UAW President Shawn Fain announced that the United Auto Workers have submitted allegations of unfair labor practices to the National Labor Relations Board against General Motors (NYSE: GM) and Stellantis (NYSE: STLA). These allegations pertain to the automakers' purported lack of genuine and timely engagement in bargaining with the union.

The filings were prompted by the companies' failure to promptly address the union's requests, as explained by Fain. Notably, there was no complaint filed against Ford Motor (NYSE:... More

Tesla (TSLA) China Cuts Price Of Model S Plaid By 19%

Tesla (TSLA) China Cuts Price Of Model S Plaid By 19%, according to a Bloomberg report late Thrusday.

Stellantis (STLA) option IV amid union contract talks

Stellantis (NYSE: STLA) 30-day option implied volatility is at 27; compared to its 52-week range of 23 to 423 into their current union contracts end on September 14.

Tesla (TSLA) option IV amid GM, F, STLA union contract headlines

Tesla (NASDAQ: TSLA) 30-day option implied volatility is at 46; compared to its 52-week range of 42 to 96.

Stellantis NV (STLA) PT Raised to $18.50 at Bernstein

Bernstein analyst Daniel Roeska raised the price target on Stellantis NV (NYSE: STLA) to $18.50 (from $18.00) while maintaining a Market Perform rating.... More

Bernstein Reiterates Market Perform Rating on Stellantis NV (STLA:FP) (STLA)

Bernstein analyst Daniel Roeska reiterated a Market Perform rating and EUR17.00 price target on Stellantis NV (STLA:FP) (NYSE: STLA).