Shares fall as Tesla (TSLA) announces increased pay for U.S. workers

Stellantis (STLA) adopts airfreight strategy as Red Sea attacks disrupt supply routs

A spokesperson for Fiat-parent Stellantis (NYSE: STLA) announced Friday that the automaker would temporarily utilize airfreight to address supply disruptions arising from changes in international transport routes due to attacks on vessels in the Red Sea.

"Stellantis has taken appropriate measures to... More

Stellantis (STLA) invests in Tiamat for sodium-ion battery tech

Detroit-based automaker, Stellantis (NYSE: STLA) announced Friday that the companys corporate venture fund, Stellantis Venture, is participating as a strategic investor in Tiamat.

Tiamat is a France-based battery manufacturer and is currently developing sodium-ion battery technology for commercialization.

Sodium-ion technology provides a more economical cost per kilowatt-hour and eliminates the need for lithium and cobalt. The... More

Tesla (TSLA) trades down following price cuts in China

Shares of Tesla (NASDAQ: TSLA) are down more than 3% in pre-market trading Friday morning after the electric automaker officially reduced the price of their Model 3 and Model Y in China, with cuts ranging from Rmb6.5k to Rmb15.5k.

According to channel checks conducted by Morgan Stanley, the reduction was more moderate than what the... More

Toyota (TM) prepares to roll out solid-state EV batteries

An executive from Japans Toyota Motor (NYSE: TM) announced Thursday that the automaker is preparing to launch solid-state batteries that charge faster and last longer.

Indias head of Toyota Kirloskar, Vikram Gulati announced that electric vehicles with solid state batteries will be rolling out a couple of years from... More

Tesla (TSLA), Other EV Stocks Lower as Hertz (HTZ) to Sell Third of U.S. EV Fleet

(Updated - January 11, 2024 9:07 AM EST)

Tesla (NASDAQ: TSLA), Other EV Stocks Lower as Hertz Global (NASDAQ: HTZ) to Sell Third of EV U.S. Fleet

Tesla (TSLA) Tells Staff All US Production Workers Getting Pay Raise - Bloomberg

(Updated - January 11, 2024 9:03 AM EST)

Tesla notified workers at its California car plant of pay increases across its U.S. factories. All U.S. production associates, material handlers and quality inspectors are getting a market adjusted pay increase.

Hertz Global (HTZ) to sell approximately 20,000 electric vehicles from its U.S. fleet

(Updated - January 11, 2024 7:37 AM EST)

Hertz Global (NASDAQ: HTZ) disclosed:

Hertz Global Holdings, Inc. (the Company or Hertz) has made the strategic decision to sell approximately 20,000 electric vehicles (EVs) from its U.S. fleet, or about one-third of the global EV fleet. These vehicle dispositions, which were initiated in December 2023 and are expected to take place in an orderly fashion over the course of 2024, will cover multiple makes and models.EVs held for sale will remain eligible for rental within the Companys fleet during the sales process. The Company expects to... More

Active options: NVDA TSLA MSFT META AMZN AMD

Active options: NVDA TSLA MSFT META AMZN AMD

China 2023 vehicle sales rise 12% - industry association

BEIJING (Reuters) - China's 2023 vehicle sales rose 12% year-on-year to 30.1 million vehicles, the China Association of Automobile Manufacturers (CAAM) said on Thursday.

Vehicle sales in December including exports jumped 23.5% on the year, CAAM said.

(Reporting by Beijing newsroom; Editing by Edmund Klamann)

Data shows VW, Toyota lose market share in 2023

In the latest industry data out of China revealed on Wednesday, Volkswagen and Toyota Motor (NYSE: TM)) witnessed a decline in their share of the world's largest auto market. This decrease occurred as established global carmakers yielded ground to their Chinese counterparts.

Specifically, VW's two joint ventures in China with FAW and SAIC collectively held a 14.2% share in sales for the year 2023. This figure marks a decrease from their... More

Midday movers: Boeing, Meta Platforms and more

(Updated - January 10, 2024 12:08 PM EST)

Investing.com -- Main U.S. indexes were slightly higher as investors adopted a wait-and-see approach ahead of the release of the key monthly inflation data later in the week.

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

Boeing (NYSE: BA) stock rose 1.5%, attempting to rebound after a drop of 9% over the last two sessions in the wake of the mid-air blow-out of a door panel on one of its 737 Max aircraft last week, even as Chief Executive Dave Calhoun... More

Tesla (TSLA) introduces updated Model 3 in North America

Tesla (NASDAQ: TSLA) introduced the redesigned iteration of its Model 3 compact sedan in North America on Wednesday, maintaining its prices despite the refresh. This update comes after the vehicle garnered significant interest upon its debut in China and Europe.

The move aims to rejuvenate Tesla's aging vehicle lineup within its primary market. It follows a price competition last year that enabled the... More

Futures broadly higher, Bitcoin swings after fake SEC post - what's moving markets

Investing.com -- U.S. stock futures were mostly higher on Wednesday with crucial inflation data out of the world's economy coming later this week. Elsewhere, the price of Bitcoin swings wildly following a false post on the Securities and Exchange Commission's account on social media platform X, while Boeing's (NYSE: BA) chief executive admits that a mid-air fuselage breach last week was the planemaker's "mistake."

1. Futures broadly higher

U.S. stock futures edged mostly into the green on Wednesday as investors awaited the release of key... More

VW, Toyota saw China market share shrink in 2023: industry association

By Qiaoyi Li and Brenda Goh

BEIJING (Reuters) - Volkswagen Group and Toyota Motor saw their share of the world's largest auto market shrink last year, industry data showed on Wednesday, as legacy international automakers ceded ground to Chinese rivals.

VW's two joint ventures in China with FAW and SAIC took a combined 14.2% share in sales terms in 2023, down from 14.8% in 2022, according to data from the China Passenger Car Association (CPCA). Sales of SAIC VW and FAW VW... More

Tesla launches restyled Model 3 in North America

(Reuters) -Tesla on Wednesday rolled out the restyled version of its Model 3 compact sedan in North America at unchanged prices, months after the vehicle attracted healthy demand upon launch in China and Europe.

The move will refresh Tesla's aging vehicle line-up in its biggest market and follows a price war last year that helped the company meet its annual deliveries goal at the cost of margins.

The revamped version of the long-range and... More

Stellantis (STLA), BlackBerry (BB) and AWS launch world’s first virtual cockpit

Stellantis (NYSE: STLA), in collaboration with BlackBerry (NYSE: BB) QNX and AWS, launched the worlds first virtual cockpit platform on Tuesday.

This groundbreaking innovation, developed by a Stellantis-led coalition, is part of the automakers Virtual Engineering Workbench (VEW), revolutionizing the delivery of infotainment technology to consumers at a speed 100 times faster than traditional methods.

This advanced... More

Tesla (TSLA) cuts range estimates on various EV models

Tesla (NASDAQ: TSLA) has has revised its electric vehicle driving-range estimations downward as a response to a new U.S. government regulation aimed at ensuring accuracy in reflecting real-world performance by automakers.

On its website, Tesla updated the driving range estimates for its 2023 X, S, Y, and 3 variants compared to previous versions found on a U.S. government website. The Model Y Long Range EV, for instance, now shows an estimated range of 310 miles on Tesla's site, while the government's EPA-managed fuel economy... More

Tesla lowers range estimates as U.S. regulators tighten vehicle-test rules

By Norihiko Shirouzu

(Reuters) -Tesla has lowered driving-range estimates across its lineup of electric vehicles as a new U.S. government vehicle-testing regulation takes effect with the goal of ensuring that automakers accurately reflect real-world performance.

Tesla has historically issued range estimates that overstate what its cars can deliver, prompting widespread complaints from customers, according to some automotive testing experts and a Reuters investigation last year.

Reuters reported in July that the automaker, about a decade ago, rigged the algorithm that controls in-dash range estimates in Tesla vehicles to give rosy projections of how far owners... More

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Active options: NVDA TSLA AAPL AMD BA AMZN MARA PLTR BABA

Stellantis uses Amazon cloud to cut in-car software development to a day

By Nick Carey

LONDON (Reuters) - Stellantis said on Tuesday using Amazon's computing power and BlackBerry technology it has developed a "virtual cockpit" to create and test new versions of car controls and systems in a day instead of months.

Stellantis said that it can now create "realistic virtual versions of car controls and systems, making them behave just like they would in a real car, but without needing to change... More