Tesla (TSLA) Model 3 now more affordable than Toyota Camry in California

GM teams with enemy Tesla on EV charging; A bigger surprise than Ford partnership says analyst

(Updated - June 9, 2023 6:47 AM EDT)

General Motors (NYSE: GM) and Tesla (NASDAQ: TSLA) shares are up 3.4% and 4.4%, respectively, in pre-market Friday after the two companies announced a collaboration to integrate the North American Charging Standard (NACS) connector design into its EVs beginning in 2025.

GM CEO Barra also announced that GM customers will have access to an adapter that will allow users to access Tesla chargers starting early next spring.

In order to drive EV adoption, we need to have a robust charging... More

Toyota (TM) will invest $50M to build new battery lab in Michigan

Toyota Motors (NYSE: TM) announced Thursday that the Japanese automotive company will be investing nearly $50 million to construct a new laboratory facility at its North American R&D headquarters in York Township, Michigan to evaluate batteries for electric and electrified vehicles.

The new lab will play a crucial role in ensuring Toyota's batteries meet the specific requirements of North American customers. Its primary focus will be to verify the performance, quality, and durability of Toyota's automotive batteries. Anticipated to... More

China launches nationwide car purchasing initiative following May sales report

In a significant effort to bolster demand in the world's largest automobile market, China unveiled Thursday a comprehensive nationwide initiative aimed at promoting car purchases, signaling a strong commitment to supporting the automotive industry.

The announcement from the Ministry of Commerce follows the release of data indicating a 7.3%... More

China vehicle sales jump 7.3% in May, NEVs lead the charge

Data released from the China Passenger Car Association (CPCA) Thursday shows that passenger vehicle sales in China rose 7.3% in May compared to last month, as the Chinese government extended tax incentives to shore up demand amid a lagging economic recovery.

The data shows vehicle sales in May reached a total of 1.76 million units.... More

Lucid (LCID) to bring their luxury EVs to China

On Thursday, Zhu Jiang, the head of Lucid Group's operations in China, announced that the U.S. luxury electric vehicle (EV) manufacturer, Lucid Group (NASDAQ: LCID), is preparing to enter the global automotive industry's biggest market.

The US EV startup currently sells its Air luxury sedans in the United States,... More

Tesla (TSLA) in advanced talks for to build factory in Valencia – reports

Spanish newspaper, Cinco Dias reported on Thursday, citing unidentified sources close to the discussions, that U.S. electric car manufacturer Tesla (NASDAQ: TSLA) is in talks with the leaders of the regional government of Valencia in Spain to build a car factory in the metropolitan area.

During the... More

Tesla's (TSLA) Elon Musk meets with Mongolian PM to discuss potential EV investments

Tesla (NASDAQ: TSLA) CEO Elon Musk met virtually with Prime Minister Luvsannamsrain Oyun-Erdene from Mongolia on Tuesday where the two discussed potential investments and cooperation in the electric vehicle sector.

Mongolia is abundant in valuable resources such as coal, copper, gold, silver, and various metallic ores. Over the past years, foreign investors have... More

Volvo launches EX30 electric SUV

Swedish luxury automaker, Volvo launched their new fully-electric EX30 SUV on Wednesday with two battery options and a starting price of around 36,000 euros ($38,500). The EX30 is Volvos smallest SUV to date and follows the unveiling of the larger electric EX90 in November.

"It's a small SUV doing Volvo things," CEO Jim Rowan said during the car's launch event in Milan,... More

Eneco will use Tesla (TSLA) battery packs to build a 50 MW storage plant in Belgium

Dutch energy company Eneco revealed Wednesday that it is planning to build a 50 megawatt (MW) battery energy storage project in Belgium using Tesla (NASDAQ: TSLA) battery packs, its largest such project to date.

The project will consist of 53 Megapack battery packs with the capacity to provide a continuous energy supply for 4 hours, accumulating a... More

EPA to scrap proposed EV volumes from biofuel blending rule

Reuters reports today, citing three unnamed sources familiar with the matter that the Biden administration is planning to discard a proposal to include the electric vehicle industry into the U.S. biofuel blending program. Additionally, the administration intends to retract tradable credits worth potentially billions of dollars that were associated with this initiative.

It was first reported in early May that the Environmental Protection Agency (EPA) was considering delaying the EV program over concerns the plan could trigger lawsuits. The... More

Court upholds Musk's win in $13 billion lawsuit over Tesla-SolarCity deal

By Tom Hals

(Reuters) -A trial court properly found that Tesla Inc CEO Elon Musk did not push the electric carmaker to overpay for SolarCity in 2016, the Delaware Supreme Court said on Tuesday, ending years of litigation over the $2.6 billion deal.

Musk was the biggest shareholder in both companies at the time, and Tesla shareholders alleged the billionaire pushed the carmaker's board into the deal to bail out his investment in the struggling rooftop solar company.

The state's highest court said that while a judge on the Delaware Court of... More

Tesla (TSLA) Model 3 Tax Credits Confirmed By IRS For All Models - Bloomberg

Tesla (NASDAQ: TSLA) Model 3 Tax Credits Confirmed By IRS For All Models - Bloomberg

Tesla's Model 3 cheaper than Toyota's Camry in California with tax benefits

By Hyunjoo Jin and David Shepardson

SAN FRANCISCO/WASHINGTON (Reuters) -Tesla Inc's rapid adjustment of its battery supply chain means all of its Model 3 vehicles qualify for federal U.S. credits that, along with other tax breaks, could lower its price to less than a Toyota Camry.

The Biden administration on Tuesday confirmed that all Tesla Model 3 vehicles now qualify for $7,500 electric vehicle consumer tax credits after two of the three versions were eligible for half the credits.

New battery rules went into effect in April that lowered the credit of the Model 3 Standard Range... More

Global EV penetration reaches 14% in April with promising uptick in May

Barclays April report card shows that global electric vehicle penetration reached 14% in April, slightly outpacing last years EV penetration of 13%; however, it fell short of the heightened levels observed in the fourth quarter of 2022. Shifting focus to May, the industry is demonstrating promising signs of a substantial m/m increase in EV penetration, indicating a positive trajectory.

Additionally, while Tesla's (NASDAQ: TSLA) market share remains stable, the actual strength might not be as robust as the price reductions would have you expect. Lastly, the US electric vehicle market continues to make... More

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Morgan Stanley reiterates Overweight on Tesla (TSLA) as Model 3 qualifies for full $7500 tax credit

Morgan Stanley reiterated an Overweight rating and $200.00 price target on Tesla (NASDAQ: TSLA) after the electric automaker announced that the companys Model 3 will now qualify for the full $7,500 EV tax credits offered under the Inflation Reduction Act (IRA).

The consumer tax credit for clean vehicles, totaling $7,500, under the provisions of the IRA, is divided into two components. Electric vehicles (EVs) can receive $3,750 if 50% of the value of their battery components were manufactured or assembled in North America. The remaining $3,750 is contingent on 40% of the value of critical materials being... More

Ford's (F) deal with Tesla (TSLA) charges up industry and sparks standardization talks

The recent move by Ford Motor Co (NYSE: F) to grant its customers access to Tesla's (NASDAQ: TSLA) electric-vehicle charging network has caused significant waves in the industry. This decision has sparked discussions about the need for a standardized charging infrastructure across the United States and has also cast uncertainty on the future of struggling charging startups.

The deal, announced last month, outlined plans to provide drivers of Ford vehicles in North America with access to over 12,000 Tesla Superchargers, starting in 2024. Under the deal, Ford will... More

Analysis-Ford's EV charging tie-up with Tesla ripples through industry

By Abhirup Roy, Hyunjoo Jin and Isla Binnie

SAN FRANCISCO (Reuters) - Ford Motor Co's decision to allow customers to use Tesla's electric-vehicle charging network has sent ripples through the industry, raising questions about a national U.S. charging standard as well as the fate of charging startups that are struggling.

The deal, announced last month, would open more than 12,000 Tesla Superchargers to drivers of Ford vehicles in North America starting in 2024.

The tie-up puts pressure on other companies and the administration of U.S. President Joe Biden to fall in line or spend more to... More

Panasonic to lift battery output at Tesla's (TSLA) Nevada gigafactory - Nikkei

Panasonic to lift battery output at Tesla's (NASDAQ: TSLA) Nevada gigafactory - Nikkei

Tesla (TSLA) recalls some Model Y EVs as steering wheels might fall off…again

Tesla Inc. (NASDAQ: TSLA) has announced a voluntary recall of 137 Model Y electric vehicles due to a potential safety concern. The recall was prompted by the discovery of a loose fastener by a service technician, which could potentially result in the steering wheel detaching completely. Tesla estimates that approximately 10 percent of the affected vehicles may have this issue.

A loose... More

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Tesla (TSLA) option IV flat as shares near eight-month high

Tesla (NASDAQ: TSLA) 30-day option implied volatility is at 53; compared to its 52-week range of 44 to 96.

Active options: TSLA AAPL AMZN NVDA SOFI AMD PLTR GOOGL CHPT

Active options: TSLA AAPL AMZN NVDA SOFI AMD PLTR GOOGL CHPT

Tesla (TSLA) PT Raised to $215 at Citi, 'we see more compelling NT risk/reward elsewhere'

(Updated - June 5, 2023 8:43 AM EDT)

Citi analyst Itay Michaeli raised the price target on Tesla (NASDAQ: TSLA) to $215.00 (from $175.00) while maintaining a Neutral rating.

The analyst comments " Were raising our price target to $215 from $175 largely on a higher target... More

Tesla's (TSLA) Model Y surpasses Toyota’s (TM) RAV4 to become the best selling SUV in Australia

The latest data received from the Federated Chamber of Automotive Industries shows that Tesla (NASDAQ: TSLA) sold 3,178 units of the Model Y in May, overtaking the Toyota (NYSE: TM) RAV4 as the bestselling SUV in Australia and the third bestselling car of any type.

The only models to... More

Tesla (TSLA) delivers 77,695 China-made EVs in May

Newly released data from the China Passenger Car Association (CPCA) shows that electric automaker, Tesla, Inc. (NASDAQ: TSLA) delivered 77,695 China-made electric vehicles (EV) in May. This marks a 142% increase when compared to the same month in 2022 when production was affected by COVID-19 containment measures in... More

Elon Musk's Neuralink valued at about $5 billion - Reuters

Reuters reports that Elon Musk's brain implant startup Neuralink is now worth around $5 billion.

Elon Musk's Neuralink Valued At Around $5 Bln, Up From $2 Bln Two Years Ago, Stock Trades And Marketing Materials Show - Reuters

Exclusive-elon Musk's Neuralink Valued At Around $5 Bln, Up From $2 Bln Two Years Ago, Stock Trades And Marketing Materials Show - Reuters

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Tesla's China-made EV sales rose 2.4% in May from April - CPCA

By Qiaoyi Li and Brenda Goh

BEIJING (Reuters) - U.S. automaker Tesla Inc delivered 77,695 China-made electric vehicles (EVs) in May, a 2.4% jump from April, data from the China Passenger Car Association (CPCA) showed on Monday.

On a yearly basis, sales rose 142% in May from 32,165 vehicles in the same month of 2022 when Shanghai, where its factory is located, was still subject to COVID-19 containment measures that impacted production.

Chinese rival BYD Co Ltd, with its Dynasty and Ocean series of EVs and petrol-electric... More

U.S. Public Pension Funds Oppose Re-Election of Toyota (TM) Chairman

Reports on Toyotas (NYSE: TM) shareholder voting records Friday show that Two of the largest U.S. public pension systems, The California Public Employees' Retirement System (CalPERS) and the Office of the New York City Comptroller, have voted against the re-election of the automakers Chairman, and grandson of the company's founder, Akio Toyoda.

Records show that the two pension funds also... More

GM’s Mary Barra pushes back against autonomous vehicles doubters

General Motors (NYSE: GM) CEO Mary Barra spoke at a Sanford Bernstein conference Friday where she doubled down on her confidence that the company will experience significant growth opportunities in the autonomous vehicle industry over the next decade.

Barra restated her prediction that Cruise could generate $50 billion a year in annual revenue by... More

Tesla (TSLA) 30-day option implied volatility as shares trade above $210

Tesla (NASDAQ: TSLA) 30-day option implied volatility is at 52; compared to its 52-week range of 44 to 96.

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Active options: TSLA AAPL AMZN NVDA AMD GOOGL CHPT MSFT

Tesla’s (TSLA) price cuts drive online traffic spike

Citi has recently revised their "mindshare" tracker for electric vehicles (EVs), which keeps tabs on web traffic related to EVs. This tracker evaluates the level of engagement on websites associated with the overall EV market, as well as specific brands or companies, with the latter serving as a possible predictor of future EV market share and brand... More

Toyota Motor (7203:JP) (TM) PT Raised to JPY1,900 at UBS

UBS analyst Kohei Takahashi raised the price target on Toyota Motor (7203:JP) (NYSE: TM) to JPY1,900.00 (from JPY1,850.00) while maintaining a Neutral rating.... More

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