Saudi PIF in discussions to invest in Chinese EV brand

Geely's Zeekr inches closer to U.S. IPO, may file this week

November 9, 2023 10:34 AM EST

Reuters reports Thursday, citing unnamed sources, that Chinese automaker Geely's premium electric car brand, Zeekr, is set to publicly release details of its plans this week to list shares on the New York stock exchange (NYSE).

According to the sources, Zeekr will reveal its prospectus, and soon after, its shares might start trading on the stock exchange.

Zeekr filed for a... More

Cantor Fitzgerald cuts Lucid (LCID) to Neutral following 3Q revenue miss

November 8, 2023 8:34 AM EST

Cantor Fitzgerald downgraded Lucid Group (NYSE: LCID) to a Neutral rating (From Overweight) and cut their 12-month price target on the electric automaker to $6.00 (From $10.00) after the company reported its 3Q23 earnings results after the market closed on Tuesday.

LCID reported 3Q revenues of $137.8 million, falling short of the consensus estimate of $185.1 million. This came after the company's pre-announcement on October 17, revealing that it had manufactured 1,550 vehicles (below the estimated 2,400) and delivered 1,457 vehicles (below the estimated 1,650)... More

NIO Inc. (NIO) call put ratio 3.1 calls to 1 put into quarter results

November 7, 2023 3:05 AM EST

NIO Inc. (NYSE: NIO) 30-day option implied volatility is at 67; compared to its 52-week range of 56 to 104 into the expected release of quarter results before the bell on November 8. Call put ratio 3.1 calls to 1 put.

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Lucid (LCID) becomes latest to adopt Tesla (TSLA) charging standard

November 6, 2023 4:32 PM EST

Electric automaker, Lucid (NASDAQ: LCID) announced Monday that, starting in 2025, the company will integrate Teslas (NASDAQ: TSLA) North American Charging Standard (NACS) connectors into their electric vehicles.

All lucid vehicles built with the current Combined... More

Lucid (LCID) to Adopt North American Charging Standard (NACS)

November 6, 2023 4:07 PM EST

Lucid Group, Inc. (NASDAQ: LCID), today announced that all Lucid vehicles built with the current Combined Charging System (CCS) will be able to charge at stations in the Tesla Supercharger network by using an adapter in 2025. In addition, Lucid will integrate the North American... More

NIO Inc. (NIO) 30-DAY option IV flat into quarter results and outlook

November 6, 2023 2:25 PM EST

NIO Inc. (NYSE: NIO) 30-day option implied volatility is at 67; compared to its 52-week range of 56 to 104 into the expected release of quarter results before the bell on November 8.

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Lucid Group (LCID) November weekly option implied volatility into quarter results

November 6, 2023 10:35 AM EST

Lucid Group (NASDAQ: LCID) November weekly call option implied volatility is at 155, November is at 112; compared to its 52-week range of 52 to 172 into the expected release of quarter results after the bell on November 7.

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NIO Inc. (NIO) said to have proposed a Mercedes partnership - Handelsblatt

November 6, 2023 10:25 AM EST

NIO Inc. (NYSE: NIO) said to have proposed a Mercedes (OTC: MBGAF) partnership - Handelsblatt.

from translation: "In the highly competitive e-car market in China, new collaborations between traditional car manufacturers and Chinese e-car startups are trending. There is no confirmation of such discussions."... More

Lucid Group (LCID) November weekly 4.5 straddle into quarter results

November 6, 2023 4:17 AM EST

Lucid Group (NASDAQ: LCID) November weekly 4.5 straddle is priced for a move of 15% into the expected release of quarter results after the bell on November 7.

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XPeng (H-Shares) (9868:HK) (XPEV) PT Lowered to HK$41 at Citi

November 5, 2023 6:03 AM EST

Citi analyst Jeff Chung lowered the price target on XPeng (H-Shares) (9868:HK) (NYSE: XPEV) to HK$41.00 (from HK$58.50) while maintaining a Sell rating.... More

XPeng (XPEV) P7 earns silver nomination as Lyd & Billede Home's premium EV of the year

November 3, 2023 3:23 PM EDT

Chinese electric automaker, XPeng (NYSE: XPEV) shared the news Friday that the international version of its all-electric sports sedan, XPENG P7, has received a Silver Nomination in Lyd & Billede Home's Premium Electrical Car of the Year category for 2023/24.

Europe has been captivated by the... More

Lucid (LCID) cuts EV prices for limited time ahead of Holiday season

November 3, 2023 2:34 PM EDT

Earlier this week, Lucid Group (NASDAQ: LCID) reduced the prices of its Air series of high-end sedans for a limited period ahead of the holiday season.

The price change comes in response to intense competition and a decline in the demand for electric vehicles.

The demand for EVs has been affected by elevated interest rates, prompting automotive... More

Lucid cuts prices of electric sedans for limited time amid EV price wars

November 3, 2023 1:54 PM EDT

(Reuters) - Lucid Group cut prices of its Air range of luxury sedans earlier this week for a limited time ahead of the holiday season, amid stiff competition and slowing demand for electric vehicles(EV). High-interest rates have hit demand for EVs, and auto manufacturers, led by the world's most valuable automaker Tesla, have responded by cutting prices.

The Elon Musk-led automaker has... More

Nio (NIO) shares rise as CEO says company will cut 10% of staff

November 3, 2023 8:07 AM EDT

Shares of electric vehicle company, Nio Inc. (NYSE: NIO) are up by more than 2% in pre-market trading Friday morning after the Chinese automaker revealed in a letter to workers that they would be cutting 10% of staff positions.

According to the letter, signed by CEO William Li, Duplicate and inefficient roles will be cut, and project investment that are not expected to contribute to the company's financial performance within the next three years will also be... More

Chinese EV upstart Nio plans to cut workforce by a tenth

November 3, 2023 5:24 AM EDT

SHANGHAI/BEIJING (Reuters) -China's Nio plans to trim its workforce by 10% this month as it moves to improve efficiency and reduce costs in the face of growing competition, the electric vehicle maker said on Friday.

Demand for EVs has weakened in China as consumers favour more economical plug-in hybrids, sales of which rose 84.5% in the first nine months of the year, helping carmakers such as Li Auto... More

NIO (NIO) to Cut 10% Of Staff Positions, May Spin Off Units - Bloomberg

November 3, 2023 5:20 AM EDT

(Updated - November 3, 2023 5:49 AM EDT)

NIO (NIO) to Cut 10% Of Staff Positions, May Spin Off Units - Bloomberg

Nio will cut 10% of staff positions in November, according to an internal letter signed by CEO William Li.Duplicate and inefficient roles will be eliminated.There were 26,763... More