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

Indonesia eases tax rules on EV imports in bid to attract investment

December 13, 2023 10:14 AM EST

The Indonesian government released details of new regulations, signed December 8th, designed to attract investors looking to build electric vehicle (EV) plants in the country.

The new regulations will grant automakers that plan to build electric vehicle plants tax incentives on their imports of completely built EVs until 2025.

Under the plan, companies that have already invested in EV plants, intend to boost their EV investments, or have plans for future investments in this sector... More

Swedish union to halt waste collection at Tesla (TSLA) locations

December 13, 2023 9:53 AM EST

Sweden's Transport Workers' Union revealed Wednesday that the organization would discontinue waste collection at Tesla (NASDAQ: TSLA) locations in Sweden. The union joins a growing collection of labor groups enacting sympathy strikes on behalf of Tesla employees, with an aim to pressure the electric automaker into accepting a collective bargaining agreement for their staff.

Tesla is facing backlash in the Nordic region due to opposition... More

Citi Comments on Tesla (TSLA) Autopilot Recall

December 13, 2023 9:29 AM EST

Citi analyst Itay Michaeli reiterated a Neutral rating and $255.00 price target on Tesla (NASDAQ: TSLA).

The analyst comments "Tesla is recalling vehicles >2mln vehicles for an Autopilot-related issue. The issue will be remedied via an over-the-air (OTA) software update, so wed expect... More

Tesla (TSLA) announces some Model 3 EVs will lose $7,500 tax credit

December 13, 2023 7:50 AM EST

Electric automaker, Tesla (NASDAQ: TSLA) revealed on their website late Tuesday that the companys Model 3 Rear-Wheel Drive and Long Range EV will no longer qualify for a $7,500 federal tax credit starting December 31st based on new guidance under the U.S. Inflation Reduction Act.

The U.S. Treasury, earlier this month, released guidelines outlining fresh battery sourcing... More

Tesla (TSLA) recalls over 2M EVs to fix faulty Autopilot

December 13, 2023 7:41 AM EST

(Updated - December 13, 2023 9:41 AM EST)

UPDATE: Analyst comments and market reaction

The National Highway Traffic Safety Administration (NHTSA) released documents Wednesday announcing that electric vehicle maker, Tesla (NASDAQ: TSLA) will recall more than 2 million vehicles to fix a faulty system thats supposed to ensure drivers are paying attention when they use Autopilot.

Shares of TSLA opened trading on Wednesday down 0.25%.

According to the documents, the company will send out an over-the-air software update to fix the problems.

The recall affects the 2012-2023 Model... More

Ford Motor (F) Says Cutting Planned Production Of Electric F-150 In Half by 2024 - Reports

December 11, 2023 5:02 PM EST

Ford Motor (NYSE: F) Says Cutting Planned Production Of Electric F-150 In Half by 2024 - Reports

... More

Ford Motor (F) Chief EV, Digital and Design Officer Field buys $2M in stock

December 11, 2023 4:15 PM EST

In a Form 4 filing after the close, Ford Motor (NYSE: F) Chief EV, Digital & Design Off, John Douglas Fields, disclosed the purchase of 182,000 common shares on 12/08/23 at $11.0472.

The value of the purchase was $2,010,590.38

Fields owns a total of 720,176 common shares following the latest purchase.

... More

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

December 11, 2023 3:29 PM EST

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

December 11, 2023 3:13 PM EST

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

December 11, 2023 10:52 AM EST

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

Active options: TSLA AMD NVDA AAPL AMZN MARA MSFT META GOOGL BABA

December 11, 2023 10:20 AM EST

Active options: TSLA AMD NVDA AAPL AMZN MARA MSFT META GOOGL BABA

... More

Tesla to be asked by Nordic pension funds to respect collective bargaining

December 11, 2023 4:44 AM EST

By Jacob Gronholt-Pedersen

COPENHAGEN (Reuters) -U.S. carmaker Tesla Inc will be urged to respect collective bargaining for its employees in the Nordic region in a joint letter to be sent by a group of pension funds this week, four of the funds said on Monday.

Tesla is facing a backlash from unions and some pension funds in the region over its refusal to accept a demand from Swedish mechanics for collective bargaining rights covering wages and other conditions.

"Tesla's attitude against the right to collective bargaining is of deep concern," said a draft of the... More

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

December 8, 2023 3:43 PM EST

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

December 8, 2023 2:46 PM EST

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

Active options: TSLA AMD AAPL AMZN GOOGL META MARA MSFT

December 8, 2023 2:01 PM EST

Active options: TSLA AMD AAPL AMZN GOOGL META MARA MSFT

... More

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

December 8, 2023 12:12 PM EST

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

December 8, 2023 10:27 AM EST

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

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

December 8, 2023 9:03 AM EST

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

Norway wealth fund pushes Tesla for union recognition, will keep its stake

December 8, 2023 7:52 AM EST

By Terje Solsvik

OSLO (Reuters) -U.S. automaker Tesla Inc should respect fundamental labour rights including collective bargaining, Norway's $1.5 trillion sovereign wealth fund said, while adding it would keep its stake in the company and seek to influence policy over time.

The electric vehicle producer faces a backlash in the Nordic region from unions and some pension funds over its refusal to accept a demand from Swedish mechanics for collective bargaining rights covering wages and other conditions.

Norges Bank Investment Management (NBIM), the world's largest stock market investor and Tesla's 7th biggest shareholder with a 0.88% stake... More

China car sales growth speeds up in November as price war intensifies

December 8, 2023 5:02 AM EST

BEIJING/SHANGHAI (Reuters) -China's passenger vehicle sales rose 25.5% in November from a year earlier, faster than the prior month and extending growth to a fourth month, industry data showed on Friday, as automakers stepped up a price battle to meet sales goals.

Car sales totalled 2.1 million units last month, data from the China Passenger Car Association (CPCA) showed, while growth accelerated from October's 9.9% jump.

Sales of new energy vehicles - electric vehicles and plug-in hybrids - grew 39.8% in November from a year earlier, surpassing a 37.5% rise in October and accounting for 40% of total car sales as promotions and... More

Bernstein's best idea for 2024? Short Tesla stock

December 8, 2023 4:50 AM EST

Bernstein is promoting short Tesla stock as its best idea for 2024, with their analyst seeing nearly 40% downside risk from current levels.

Analyst Toni Sacconaghi has an Underweight rating on Tesla (NASDAQ: TSLA) and a $150 per share price target.

Tesla stock closed 1.4% up on Thursday and its up 97% year-to-date.

At a fundamental level, 2023 has been a very difficult year for Tesla, with 2023 EPS ~50% below consensus estimates at the start of the year. Yet amazingly, the stock has nearly doubled YTD, Sacconaghi said in a note to clients on Friday.

Tesla's primary challenge,... More

U.S. House votes to pause Biden EV regulations

December 7, 2023 3:48 PM EST

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

December 7, 2023 3:03 PM EST

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

December 7, 2023 2:11 PM EST

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

Tesla (TSLA) Replaces Head Of Dojo Supercompter Project: Sources - Bloomberg

December 7, 2023 12:14 PM EST

(Updated - December 7, 2023 12:15 PM EST)

Tesla (NASDAQ: TSLA) Replaces Head Of Dojo Supercompter Project: Sources - Bloomberg

Tesla Taps Peter Bannon To Lead Dojo,Former Dojo Head Ganesh Venkataramanan Has Left Tesla... More

Elon Musk Says Disney's (DIS) Bob Iger Should be Fired

December 7, 2023 10:44 AM EST

(Updated - December 7, 2023 10:45 AM EST)

Elon Musk Says Disney's (NYSE: DIS) Bob Iger Should be Fired

He should be fired immediately.

Walt Disney is turning in his grave over what Bob has done to his company.

Elon Musk (@elonmusk) December 7, 2023

... More

Over 1,000 VW workers sign union cards in Tennessee

December 7, 2023 10:34 AM EST

The United Auto Workers (UAW) union revealed Thursday that more than 1,000 Volkswagen factory workers at the automakers Chattanooga, Tennessee assembly plant have signed union authorization cards.

The news follows an announcement last week where the union said that they would launch a first-of-its-kind push to publicly organize the entire nonunion auto sector in the U.S. A push energized by record contract negotiations with the Detroit Three automakers.

The UAW said last week that when 30% of employees in a nonunionized facility sign cards expressing their... More

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

December 7, 2023 7:16 AM EST

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