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

Tesla (TSLA) Scraps Canadian Orders for US-Built Model Y Long Range

According to Drive Tesla Canada on Friday, Tesla has sent emails to customers in Canada with existing orders for a Fremont-made Model Y Long Range, announcing that their order has been canceled.

According to a copy of the email sent to customers, Tesla says their chosen configuration is... More

Shares rebound as Blink (BLNK) ChargePoint (CHPT) and Tritium (DCFC) embrace Tesla charging connectors

Shares of electric vehicle charging equipment makers Blink Charging (NASDAQ: BLNK), ChargePoint (NYSE: CHPT) and Tritium (NASDAQ: DCFC) are bouncing back Monday after the three revealed they will be including Tesla's (NASDAQ:... More

Tesla (TSLA) to Outperform at KGI Securities on strong US advantage

KGI Securities has raised their rating on Tesla, Inc. (NASDAQ: TSLA) from Neutral to Outperform and increased their 12-month price target for the stock to $335.00. This upgrade comes in light of Tesla's U.S. investments, which have enabled their Model 3 and Y vehicles to qualify for tax credits of up to $7,500.

Analyst, Jennifer Liang wrote in a note, The price of the Model 3 RWD has fallen to $20-25k in certain states after federal, state, and local incentives are applied, making it competitive with popular ICE sedans. Tesla is expanding Gigafactory Nevada, where 4680... More

NIO Inc. (NIO) slashes prices and ends free battery swapping

Chinese electric automaker NIO Inc. (NYSE: NIO) revealed Monday its decision to reduce prices across all models and discontinue free battery swapping services for new customers. This move comes as the Chinese automaker grapples with financial losses and lackluster sales, placing them under increasing scrutiny and... More

Shares soar as XPeng’s (XPEV) G6 receives over 25k pre-orders in under 72hrs

Shares of the Chinese electric vehicle startup, XPeng Inc. (NYSE: XPEV) shot up more that 9.5% in pre-market trading on Monday after the company reported that they have received more than 25,000 pre-orders for their new G6 ultra-intelligent sedan SUV less than 3 days after it was... More

NIO Inc. (NIO) receives downgrades and adjusted price targets following disappointing 1Q23 and deliveries

Nomura and CMB International Global Markets (CMBIS) downgraded NIO Inc. (NYSE: NIO) from Buy ratings to Neutral and Hold ratings respectively. Nomura cut their 12-month price target on the stock to $7.50 (From $25.80), while CMBIS cut their price target to $8.00 (From $21.00) following the electric automakers disappointing 1Q23 earnings miss and delivery numbers.

In the first quarter of 2023, NIO achieved 31,041 deliveries, which fell within the expected range of 31,000-33,000 units. However, the recorded revenue amounted to CNY10.7 billion, slightly below the projected range of CNY10.9-11.5 billion.

NIO reported 1Q Gross margin at 1.5%,... More

Tesla (TSLA) leases 210k sq.ft facility in effort to ramp 4680 cell production

EV Giant, Tesla (NASDAQ: TSLA) is preparing to ramp up 4680 battery cell production in Fremont, California.

According to a report by Business Times, citing sources familiar with the matter, the EV company recently signed a lease with the industrial real estate investment trust Prologis on a 210,000 sq. ft advanced manufacturing facility for essential battery technology that will likely be used for 4680 cell production.

During the third quarter... More

Ford (F) files patent for roof-mounted backup EV battery

Detroit automaker, Ford (NYSE: F) has filed an interesting patent for a large roof-mounted backup battery. The battery pack, which resembles a conventional roof box, would attach to the roof rack of any compatible electric vehicle, allowing customers to top-up the main high-voltage pack of an EV when driving through an area where there arent any chargers available.

The abstract of the Ford patent reads: An electrified vehicle backup battery system includes a traction battery pack of an electrified vehicle and a backup battery assembly that... More

Blink (BLNK), ChargePoint (CHPT) and others fall as GM inks deal with Tesla (TSLA)

CEO of General Motors (NYSE: GM), Mary Barra held a live "twitter spaces" meeting with Elon Musk on Thursday to announce a deal between GM and Tesla (NASDAQ: TSLA) to integrate Teslas North American Charging Standard (NACS) charging connections into their vehicles. The deal follows a similar announcement by Ford (NYSE: F) in late... More

White House says Tesla (TSLA) chargers qualify for federal funding so long as they include CCS

White House officials on Friday announced that electric vehicle (EV) charging stations that utilize Teslas (NASDAQ: TSLA) North American Charging Standard (NACS) will be eligible to receive billions of dollars in federal subsidies so long as they also include the national CCS charging standard connection.

The announcement follows U.S. automakers Ford and GM's announcements that they were adopting the Tesla model and integrating the NACS connections into their own vehicles, shaking up a charging industry that was seemingly drifting towards the CCS connection with the help of... More

Canada’s FLO to support Tesla’s (TSLA) NACS at their charging stations

Chief Product Officer, Nathan Yang of Canadian EV charging provider FLO announced Friday that the Quebec-based company will offer the Tesla (NASDAQ: TSLA) designed North American Charging Standard (NACS) EV connectors at their over 90,000 charging stations.

Yang wrote in a statement released to the press Friday:

"FLO welcomes initiatives to standardize charging hardware in North America because we believe it... More

Rivals GM and Ford will adopt Tesla's NACS charging connectors, will Stellantis follow?

General Motors (NYSE: GM) jumped 3.7% at the open on Friday after the company announced yesterday that the Detroit automaker will be partnering with Tesla (NASDAQ: TSLA) to open the EV giants supercharger network to GM customers. The move follows a similar announcement by neighboring rival Ford (NYSE: F) on May 26th, prompting analysts to ask the... More

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

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

GameStop, Meta Platforms fall premarket; Designer Brands, Lucid rise

Investing.com -- Stocks in focus in premarket trade on Thursday, June 8th. Please refresh for updates.

GameStop (NYSE: GME) stock fell 21% after the troubled video game retailer announced that it had "terminated" chief executive officer Matt Furlong and... 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 considering building automotive investment in Spain - source

MADRID (Reuters) -U.S. electric car manufacturer Tesla is in talks with the leaders of the regional government of Valencia in Spain to make an automotive investment, a source close to the discussions has told Reuters. A spokesperson for Valencia's regional government told Reuters it had held meetings and conversations with an unidentified company about a "large automotive investment", but declined to give more details, citing the confidentiality of the negotiations.

A separate source confirmed the company concerned was Tesla. Spanish business newspaper Cinco Dias cited sources as saying the investment would be a car factory and its... More

NIO Inc. (NIO) June weekly 8 straddle into quarter results

NIO Inc. (NYSE: NIO) June weekly 8 straddle is priced for a move of 13% into the expected release of quarter results before the bell on June 9.

Tesla (TSLA) option implied volatility steady

Tesla (NASDAQ: TSLA) 30-day option implied volatility is at 51; compared to its 52-week range of 44 to 96.

China launches nationwide car purchase campaign as May sales tick up

BEIJING/SHANGHAI (Reuters) -China on Thursday announced a nationwide campaign to promote automobile purchases in a major push to shore up demand in the world's largest auto market.

The announcement from the Ministry of Commerce came shortly after data showed passenger vehicle sales in China rose 7.3% in May from April, higher on the month but far from the robust recovery policymakers are hoping for.

The commerce ministry said it would coordinate and push local authorities to roll out targeted policies and measures in favour of car consumption. Financial institutions will be encouraged to introduce measures... 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

Active options: TSLA PLTR AMZN NVDA AAPL AMD MSFT GOOGL F

Active options: TSLA PLTR AMZN NVDA AAPL AMD MSFT GOOGL F

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

NIO Inc. (NIO) calls more active than puts into quarter results and outlook

NIO Inc. (NYSE: NIO) June weekly option implied volatility is at 178, June is at 110; compared to its 52-week range of 63 to 111 into the expected release of quarter results before the bell on June 9. Call put ratio 3.9 calls to 1 put.

Active options: TSLA PLTR NVDA AAPL AMD AMZN NFLX GOOGL AFRM

Active options: TSLA PLTR NVDA AAPL AMD AMZN NFLX GOOGL AFRM

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

Morgan Stanley Overweight on Li Auto (LI) as founder pushes for 30k sales in June

Morgan Stanley reiterated an Overweight rating and $40.00 price target on Li Auto (NASDAQ: LI) after conducting store checks and speaking with salespeople.

According to Morgan Stanleys latest store checks, Li Autos overall foot traffic in flagship locations in Tier 1 cities improved 16% MoM to a record YTD volume in May. The electric automakers L7/L8 continues to gain traction, despite peers' competitive model launches, driving customers to take a closer look at Li... More

NIO Inc. (NIO) June weekly 8 straddle into quarter results

NIO Inc. (NYSE: NIO) June weekly 8 straddle is priced for a move of 13% into the expected release of quarter results before the bell on June 9.

Tesla (TSLA) option implied volatility as shares trend

Tesla (NASDAQ: TSLA) 30-day option implied volatility is at 51; compared to its 52-week range of 44 to 96.

Stocks expected to have increasing option volume: SFIX CPB DOCU GME SIG NIO

Stocks expected to have increasing option volume: SFIX CPB DOCU GME SIG NIO

Active options: TSLA AAPL NVDA AMD AMZN COIN GOOGL META PLTR

Active options: TSLA AAPL NVDA AMD AMZN COIN GOOGL META PLTR

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

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

President Joe Biden's administration confirmed Tuesday that after a rapid adjustment of its battery supply chain, the Tesla (NASDAQ: TSLA) Model 3 now qualifies for the full $7,500 tax credit, meaning that it has become more affordable than the Toyota Camry in California.

New battery sourcing... 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

NIO Inc. (NIO) calls more active than puts into quarter results and outlook

NIO Inc. (NYSE: NIO) June weekly option implied volatility is at 154, June is at 104; compared to its 52-week range of 63 to 111 into the expected release of quarter results before the bell on June 9. Call put ratio 4.1 calls to 1 put.

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

Active options: TSLA AAPL COIN NVDA AMD AMZN PLTR SHOP MARA META

Active options: TSLA AAPL COIN NVDA AMD AMZN PLTR SHOP MARA META

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

NIO Inc. (NIO) June weekly 7.5 straddle into quarter results

NIO Inc. (NYSE: NIO) June weekly 7.5 straddle is priced for a move of 13% into the expected release of quarter results before the bell on June 9.