Over 1,000 VW workers sign union cards in Tennessee

Ford (F) to cut F-150 Lightning production by 50% in 2024

Automotive News reports Monday that Detroit automaker, Ford Motor (NYSE: F) has sent a memo to suppliers with plans to cut production on the companys F-150 Lightning electric pickup truck by half in 2024.

"Changing market demand," was the reasoning given for the steep pullback.

The announcement... More

Nordic pension funds urge Tesla (TSLA) to respect collective bargaining

Four Norwegian pension funds revealed Monday that a group of funds from the Nordic region will, later this week, send a letter to U.S. electric carmaker, Tesla (NASDAQ: TSLA) urging the EV company to respect collective bargaining for its employees.

Tesla has attracted criticism from unions and several pension funds in the area due to its rejection of the Swedish... More

UAW accuses VW, Hyundai, and Honda of illegal union busting

The United Auto Workers (UAW) union announced Monday that workers organizing with the UAW at Honda (NYSE: HMC) in Indiana, Hyundai in Alabama, and Volkswagen in Tennessee, have filed charges against management for illegally union-busting.

The union, riding high on recent wins in Detroit, has been collaborating with employees from 13 different automakers to unite their workforce. Altogether, approximately 150,000 autoworkers are covered by this union effort.

These companies are breaking the law in an attempt to get... More

China says revised NEV tax incentives ensure 90% eligibility for EVs

China's industry ministry announced Monday that over 90% of the countrys existing new energy vehicle (NEV) models will maintain eligibility for tax incentives on purchases, thanks to updated technical criteria.

According to a statement from the Ministry of Industry and Information Technology, the technical criteria for new energy... More

General Motors (GM) GM and partners launch national EV fast-charging network

General Motors (NYSE: GM), in partnership with EVgo Inc. (NASDAQ: EVGO) and Pilot Travel Centers LLC, announced Monday, the opening of the first 17 sites for a nationwide electric vehicle (EV) fast charging network across the United States.

The locations of the charging stations can be found on GM's... More

Wells Fargo starts Stellantis (STLA) at Underweight ahead of industry headwinds

Wells Fargo initiated coverage on Stellantis (NYSE: STLA) with an underweight rating and a 12-month price target of 18.

We believe the market is likely underestimating the magnitude of the structural challenges that the industry faces over the next few years. Wrote Wells Fargo analysts in a note.

Key headwinds include... More

Tesla (TSLA) China plans to build auto research center in Thailand as EVs gain popularity

Thailand revealed Friday that China is planning to establish a China Automotive Technology and Research Center (CATARC) in the region, the fourth such facility in the world.

Tax incentives and subsidies offered by the Thai government have successfully attracted Chinese car manufacturers such as BYD and Great Wall... More

Tesla (TSLA) Model Y sold out in China till end of year

Tesla's (NASDAQ: TSLA) Model Y Standard Range configuration in China is completely sold out for the remainder of 2023, as the company strives to achieve its ambitious target of delivering 1.8 million vehicles this year.

China stands out as one of Tesla's most successful markets,... More

Experts concerned Tesla (TSLA) Cybertruck’s stiff structure poses safety risk

Safety experts are expressing concerns about the angular structure of Tesla's (NASDAQ: TSLA) Cybertruck, fearing that its rigid stainless-steel exterior might pose risks to pedestrians, cyclists, and other vehicles on the roads.

The crash test videos streamed by Tesla during a November 30 event sparked extensive discussions on social media. However, experts who viewed the videos emphasized the necessity of crash-test data to form definitive conclusions regarding the vehicle's safety.

"The big problem there is if they really make the skin of the vehicle very stiff by using thick stainless... More

Tesla (TSLA) dispute sparks Nordic solidarity strikes

A conflict over labor conditions involving Tesla (NASDAQ: TSLA) and the Swedish trade union IF Metall has gained support from multiple unions in the Nordic region. The unions are collectively urging the automaker to engage in a collective bargaining agreement.

Initiated by approximately 130 IF Metall members on October 27, a strike prompted additional solidarity actions from dockworkers, cleaners, and car dealershipsa strategy... More

Stellantis (STLA) temporarily cuts shift at Jeep plant

Chrysler-parent, Stellantis (NYSE: STLA) announced its intention to temporarily reduce a shift at a Jeep factory in Detroit and make adjustments at another Jeep plant in Toledo, Ohio. These changes, according to the automaker, are expected to result in job cuts.

The car manufacturer, which holds ownership of Ram, Chrysler, Dodge, and Fiat brands, announced its intention to submit Worker Adjustment and Retraining Notification notices to the relevant... More

Chinese auto sales surge 25% in November, marking fourth consecutive month of growth

China witnessed a 25.5% surge in passenger vehicle sales this November compared to last year, marking a faster pace of growth than the previous month and continuing an upward trend for the fourth consecutive month.

Industry data released on Friday by the China Passenger Car Association (CPCA) revealed that car sales reached 2.1 million units last month, showcasing an acceleration from the 9.9% increase observed in October. This surge in sales was propelled by intensified price competition among automakers striving to achieve their sales targets.

November witnessed a remarkable... More

U.S. House votes to pause Biden EV regulations

The Republican-led House of Representatives, on Wednesday, voted to prevent the Biden administration from implementing strict regulations on vehicle emissions, which aimed to have 67% of new vehicles powered by electricity by 2032.

"While EVs may play a large role in the future of the auto industry, Washington should not discount other technologies like... More

Tata Motors urges India to maintain EV import tax

Tata Motors is urging Indian authorities to maintain the current 100% import taxes on electric vehicles in order to safeguard the domestic industry and its investors.

This request comes as the government evaluates Tesla's intentions to enter the market.

While India aims to enhance local manufacturing and increase the adoption of electric vehicles, Tesla (NASDAQ: TSLA) is seeking to establish a factory in India... More

Swedish court rules against Tesla (TSLA) in postal service dispute

Tesla (NASDAQ: TSLA) faced a setback in a legal dispute against Sweden's postal service on Thursday amid an escalating conflict with Nordic trade unions.

A Swedish court ruled that, for now, PostNord is not obligated to distribute license plates to Tesla, which have been withheld by the postal service's employees. This marks the latest development in a dispute regarding collective bargaining agreements.

The pressure on Tesla is mounting in Sweden, Norway, and Denmark, as unions supporting Swedish IF Metall's mechanicswho initiated a strike on October 27seek a collective agreement with the... More

General Motors (GM) joins with Autocar Industries to build heavy-duty hydrogen vehicles

General Motors (NYSE: GM) and Autocar Industries announced Thursday that the two companys have agreed to collaborate on creating hydrogen-fueled heavy vehicles utilizing GM's fuel cell unit, Hydrotec.

These innovative vehicles, aiming for zero emissions, will replace conventional diesel-powered models like cement mixers, dump trucks, refuse trucks, road maintenance... More

Rivian (RIVN) gains as Stifel initiates coverage of EVs

Shares of electric vehicle maker, Rivian (NASDAQ: RIVN) jumped nearly 4% in pre-market trading Thursday morning after Stifel initiated coverage of the company with a Buy rating and a 12-month price target of $23.00.

In a note, Stifel highlighted Rivian's recent agreement with Amazon for 100,000 Electric Delivery Vehicles (EDVs). They also pointed out that Rivian's new manufacturing facility, anticipated to launch the R2 line in 2026, is projected... More

GM hydrogen unit to supply fuel cells for Autocar's heavy vehicles

By Nick Carey

(Reuters) - General Motors' and Autocar Industries have agreed to jointly develop hydrogen-powered heavy vehicles powered by the No.1 U.S. automaker's fuel cell unit Hydrotec, the two companies said on Thursday.

The first of the new zero-emission vehicles which are traditionally powered by diesel engines - such as cement mixers, dump trucks, refuse trucks, road maintenance vehicles and terminal tractors - are expected to go into production in 2026 at Autocar's... More

Ford and Resideo (REZI) Launch 'EV-Home Power Partnership' Project Driving Vehicle-to-Home Energy Management Benefits for Customers

Today, Ford and Resideo Technologies, Inc. (NYSE: REZI) announced a joint simulation project to explore vehicle-to-home (V2H) energy management called the "EV-Home Power Partnership," designed to explore the potential of electric vehicle batteries to support optimal home energy management. The project will explore, test and quantify the customer benefits of pairing bi-directional EV charging with a Resideo smart thermostat to help customers potentially save money on monthly electric bills, reduce strain... More

SpaceX Tender Offer Said To Value Startup At Above $175 Billion - Bloomberg

SpaceX Tender Offer Said To Value Startup At Above $175 Billion - Bloomberg

Norway union to join Tesla (TSLA) blockade

Fellesforbundet, Norways largest private sector labour union revealed Wednesday that, starting this month, the union will start blocking transit shipments of Tesla (NASDAQ: TSLA) cars meant for the Swedish market. The act is part of a growing Nordic movement to support striking mechanics in Sweden.

IF Metall, the leading Swedish union, initiated industrial... More

Stifel Starts Rivian Automotive Inc (RIVN) at Buy; 'high-quality driving brand awareness'

(Updated - December 6, 2023 4:26 PM EST)

Stifel analyst Stephen Gengaro initiates coverage on Rivian Automotive Inc (NASDAQ: RIVN) with a Buy rating and a price target of $23.00.

The analyst commented, "The key positives to the Rivian story include: 1) High-quality R1S/R1T driving... More

Active options: TSLA NVDA AMD AAPL HOOD NIO PLTR SOFI RIVN BABA

Active options: TSLA NVDA AMD AAPL HOOD NIO PLTR SOFI RIVN BABA

Ford (F) says Mach-E unlikely to qualify for tax credits in January

Ford Motors (NYSE: F) revealed Wednesday that their Mustang Mach-E electric vehicles currently occupying dealership lots are unlikely to meet the criteria for federal tax credits starting in January.

Recent guidance from the U.S. Treasury outlined fresh limitations on battery sourcing set to take effect on January 1st. These restrictions aim to steer the U.S. EV supply chain away from dependence on... More

Deutche Bank releases their top auto picks for 2024

Deutsche Bank recently unveiled its top selections in the automotive sector for 2024, reflecting a mixed year with positive strides and persistent challenges. Despite the positive momentum in volume recovery and encouraging trends in EV adoption, the industry faced hurdles such as the enduring impact of a lengthy UAW strike and fluctuating EV adoption rates due to pricing uncertainties and tax credit fluctuations.

The analysts at Deutsche Bank are cautious about the upcoming year, citing uncertainties in the economic outlook for both Europe and the US. They anticipate a scenario where global automotive volumes either plateau or decline, offering... More

Ford says unlikely Mustang Mach-E EV will qualify for US federal tax credits in January

By David Shepardson and Ben Klayman

(Reuters) -Ford Motor said on Wednesday it is unlikely Mustang Mach-E electric vehicles currently in dealer showrooms will qualify for federal tax credits beginning in January.

The U.S. Treasury issued guidance last week detailing new battery sourcing restrictions that take effect Jan. 1 aimed at weaning the U.S. EV supply chain away from China. The current model Mach-E currently qualifies for a $3,750 federal tax credit.

Ford said it was still reviewing if its F-150 Lighting EV truck will... More

Toyota Motor (TM) option IV flat as share price up 2.2%

Toyota Motor (NYSE: TM) 30-day option implied volatility is at 23; compared to its 52-week range of 16 to 73 as share price up 2.2%.

Tesla (TSLA) call put ratio 1.6 calls to 1 put as share price up 1.8%

Tesla (NASDAQ: TSLA) 30-day option implied volatility is at 45; compared to its 52-week range of 42 to 96. Call put ratio 1.6 calls to 1 put.

Ford (F) option implied volatility as share price up 2.5%

Ford (NYSE: F) 30-day option implied volatility is at 27; compared to its 52-week range of 26 to 587 as share price up 2.5%.

General Motors (GM) option implied volatility near low end of range as share price up 2.7%

General Motors (NYSE: GM) 30-day option implied volatility is at 28; compared to its 52-week range of 27 to 46 as share price up 2.7%.

Stellantis (STLA) option implied volatility near low end of range as share price up 3.8%

Stellantis (NYSE: STLA) 30-day option implied volatility is at 27; compared to its 52-week range of 23 to 423 as share price up 3.8%.

Rivian Automotive (RIVN) March 25 calls active as share price up 10%

Rivian Automotive (NASDAQ: RIVN) December weekly call option implied volatility is at 99, December is at 81; compared to its 52-week range of 57 to 101. Call put ratio 3.4 calls to 1 put with focus on March 25 calls as share price up 10%.

Rivian Automotive (RIVN) jumps amid notable call activity

Rivian Automotive (NASDAQ: RIVN) is seeing some notable call activity, specifically the 20 and 19 calls.

Toyota (TM) plans to sell stake in Harmonic Drive Systems

Japans Harmonic Drive Systems, a manufacturer specializing in speed reducers, announced on Wednesday that Toyota Motor (NYSE: TM) plans to sell complete ownership in the company through open market sales abroad.

The decision to sell these shares followed an announcement by the... More

Nissan and Mitsubishi to invest in Renault’s EV unit Ampere

Nissan and Mitsubishi announced Wednesday, plans to invest in long-standing partner, Renaults electric vehicle unit called Ampere. The two automakers confirmed plans to use Ampere to develop EVs for the European market.

Following years of tense collaboration, the recent announcement confirms a new, more streamlined alliance among the trio of automakers, placing a stronger... More

Popular stocks with increasing volume: TSLA AAPL NVDA AMZN HOOD MARA

Popular stocks with increasing volume: TSLA AAPL NVDA AMZN HOOD MARA

Active options: TSLA AAPL NVDA AMZN MARA HOOD META NIO

Active options: TSLA AAPL NVDA AMZN MARA HOOD META NIO

Elon Musk suggests Cybertruck impact may not be felt until 2025

Elon Musk, the CEO of Tesla, detailed his projections regarding the impact of the Tesla (NASDAQ: TSLA) Cybertruck on the company's financial outlook.

After four years since its initial unveiling, Tesla managed to begin deliveries of the Cybertruck last week, albeit in limited quantities.

With just a few units delivered, Tesla continues to strive towards optimizing its production methods for the Cybertruck. Achieving... More

Nio (NIO) gains following narrow 3Q losses

Shares of Chinese electric automaker, Nio Inc. (NYSE: NIO) jumped 4% after the company released their 3Q earnings report showing narrowing losses.

Nio announced revenue of 19.07 billion yuan in the quarter, coming in behind the consensus estimate of 19.4 billion. Revenue rose 47% year-on-year.

The automaker reported an adjusted EPS loss of 2.67 yuan, missing an expected loss of 2.53 yuan.

Investors are directing their attention towards the Chinese electric carmaker's capacity to exhibit greater... More

Rivian (RIVN) partners with SiriusXM (SIRI) to bring satellite radio to R1T and R1S

Rivian Automotive (NASDAQ: RIVN) has secured a major agreement with SiriusXM (NASDAQ: SIRI), introducing the audio system to the R1T and R1S electric vehicles from 2024 onwards.

The partnership between Rivian and SiriusXM was unveiled on Monday.

SiriusXM's radio platform will be seamlessly integrated into Rivians vehicle software, providing easy-to-use and intuitive control for... More

Tesla's global EV share fell to 13% in October from 17% in September - analyst

Tesla's (NASDAQ: TSLA) share of the global electric vehicle (EV) market declined to 13% in October, down from September's 17%, according to Morgan Stanley analyst Adam Jonas.

While the company still maintains an 18% market share overall in the global EV market for the year 2023, Jonas... More

Ford (F) teams with Xcel (XEL) to install 30k EV Charging stations

Fords (NYSE: F) commercial division on Tuesday announced a partnership with utility company Xcel Energy (NASDAQ: XEL) to deploy 30,000 electric vehicle (EV) charging stations throughout the United States by 2030.

The partnering companies opted not to disclose financial specifics regarding... More

China releases safety guidelines for autonomous public vehicles

China released safety protocols on Tuesday governing the deployment of self-driving vehicles in public transportation, marking another step in readiness for the growing integration of autonomous cars.

The guidelines cover self-driving vehicles designated for transporting passengers, such as taxis, and those involved in freight transportation, as highlighted by the Ministry of Transport's official statement.

They specifically address... More

Ford commercial unit, Xcel Energy partner up to install 30,000 EV charging ports

(Reuters) - Ford's commercial unit will collaborate with utility firm Xcel Energy to install 30,000 electric vehicle (EV) charging ports across the U.S. by 2030, the companies said on Tuesday.

The companies, which did not reveal any financial details on the partnership, said they would work together within Xcel's... More

Wolfgang Porsche's wealth nearly halved in 2023 while Musk added $86 billion. Here's why

Stifel analysts analyzed the holdings and net worth of automobile billionaires around the globe with Elon Musk of Tesla (NASDAQ: TSLA) once again topping the list.

In 2023, Musks wealth saw a remarkable increase of $86 billion, reaching $223 billion. Susanne Klatten and her brother Stefan Quandt of BMW (OTC:... More

GM’s Cruise faces $1.5M fine for 'misleading' commission over vehicle accident

The Cruise robotaxi division of General Motors (NYSE: GM) is facing potential fines totaling $1.5 million, as well as further penalties, or not revealing specifics of an October 2 accident.

In this incident, a pedestrian was dragged by a robotaxi for 20 feet after being hit by another vehicle, a California agency said.

Separately, GM's CEO Mary Barra mentioned on Monday that the company's external examination of Cruise's safety measures... More

Midday movers: CVS Health, Apple, and more

(Updated - December 5, 2023 12:14 PM EST)

Investing.com Main U.S. indexes were mixed on Tuesday. Data on job openings in October hinted at easing of labor demand, fueling hopes the Fed would consider lowering interest rates before the middle of next year, but investors were cautious ahead of Fridays official November payrolls number.

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

Take-Two Interactive Software (NASDAQ: TTWO) stock fell 1.8% after the video game company released the first trailer for its highly-anticipated "Grand Theft Auto VI" title, saying it... More

Tesla (TSLA) faces union opposition in Denmark

The largest union in Denmark has pledged its backing to Swedish mechanics engaged in a strike against Tesla.

Members of the Danish 3F union, including harbor workers and drivers, intend to halt the unloading of vehicles bound for Sweden at Danish ports and cease transporting them to Sweden for approximately two weeks. This move aims to impede Tesla from bypassing a blockade in Sweden that has persisted... More

Ford Motor (F) and Xcel Energy (XEL) Collaborate to Support Installation of 30,000 EV Charging Ports for Business Fleets by 2030

Today, Ford Pro, the commercial division within Ford Motor Company, and Xcel Energy, a national leader in clean energy, announced a unique collaboration to support the deployment of 30,000 electric vehicle (EV) charging ports in Xcel Energy service territories across the U.S. by 2030 with most upfront costs offset by Xcel for qualifying business fleet customers1.

Ford Pro and Xcel Energy are launching the 30x30 initiative within Xcel Energys broader Electric Vehicle Supply Infrastructure (EVSI) program to scale EV adoption and increase access to charging infrastructure for business fleets across Xcel Energys service areas in the... More

Pilot Travel Centers LLC, General Motors (GM) and EVgo (EVGO) Make Convenient, Accessible Charging a Reality with Opening of First Stations in Coast-to-Coast EV Charging Network

Pilot Travel Centers LLC, General Motors (NYSE: GM) and EVgo Inc. (NASDAQ: EVGO) today announced the opening of the first 17 locations of their previously announced national electric vehicle fast charging network. Now available in 13 states, the network features an elevated charging... More

Danish dockworkers join Swedish strike action against Tesla

HELSINKI (Reuters) - Denmark's 3F labour union said on Tuesday it will support Swedish mechanics in their strike action against Tesla, and will refuse to unload or transport cars made by the U.S. auto company for customers in Sweden.

"Like the companies, the trade union movement is... More