Tag: Automotive

Exclusive: China’s Nio explores investment, tech alliances with Mercedes

SHANGHAI, Sept 28 (Reuters) – Nio (9866.HK) has held exploratory talks with Mercedes-Benz (MBGn.DE) for a tie-up that would see the German automaker invest in the Chinese electric vehicle startup in exchange for technology, two people with direct knowledge of the matter said.

CarMax Stock Slides as Quarterly Revenue Declines 13%

Shares of CarMax KMX +1.84% were tumbling in premarket trading Thursday after the user-car seller reported fiscal second-quarter revenue that declined sharply from a year earlier.

VinFast Posts a Big Loss. Why the EV Start-Up’s Stock Is Rising Anyway.

Vietnamese electric vehicle start-up VinFast Auto  posted a big second-quarter loss. Guidance for the full year leaves some unanswered questions, too. 

UAW Strike Announcement Today Could Escalate Battle Between Workers, Car Makers

The UAW is threatening to expand its strike on Friday against Big Three automakers General Motors , Ford Motor , and Chrysler parent Stellantis STLA , and many observers are assuming it’s a done deal. 

NIO Stock Falls. It’s the Latest EV Maker to Offer Convertible Bonds.

Chinese electric-vehicle maker NIO  said it was offering $1 billion of convertible bonds, joining other EV companies Nikola and Fisker  in raising funds in this manner.

Latest UAW Threat: Strikes at More Ford, GM Plants If No ‘Serious Progress’ by Friday.

The United Auto Workers will strike at more plants if Ford , General Motors , and Stellantis fail to make “serious progress” toward an agreement by Friday, the union’s leader warned late Monday.

AutoZone Stock Falls as Domestic Commercial Growth Lower Than Expected

AutoZone easily beat earnings and sales estimates for its fiscal fourth quarter but the stock was falling after sales in the company’s domestic commercial division came up short.

UAW Contract Negotiations Resumed Saturday as GM, Ford Announce Layoffs

The United Auto Workers returned to the bargaining table with Detroit auto makers Saturday after union leaders took the day Friday to join picket lines at three plants where workers are on strike.

Auto Workers’ targeted strike plan will limit walkouts while grinding auto production to a halt

United Auto Workers President Shawn Fain announced a targeted strike plan Wednesday if the union decides to walk out at General Motors, Ford and Stellantis after a contract expiration late Thursday.

European Union launches anti-subsidy probe into Chinese EVs

The European Commission, the executive arm of the European Union, on Wednesday launched an investigation into subsidies given to electric vehicle makers in China, according to President Ursula von der Leyen.

Tesla Catches an Upgrade. It’s an AI Stock.

Tesla  as an artificial intelligence stock is picking up steam on Wall Street.

China car sales rise 2.2% y/y in Aug

China’s passenger vehicle sales jumped 2.2% in August from a year earlier, data from the China Passenger Car Association (CPCA) showed on Friday.

Tesla to install charging stations at 2,000 Hiltons in North America

Tesla plans to install 20,000 electric vehicle charging stations across 2,000 Hilton properties in the U.S., Mexico and Canada beginning next year, the companies said Thursday.

Chinese electric carmakers ramp up push overseas, setting up clash with U.S., European auto giants

The IAA in Munich, Germany is one of Europe’s most high-profile auto shows. And it was dominated by Chinese electric car firms looking to expand their presence on the continent.

Hyundai, LG to spend $2 billion more on Georgia battery plant

Hyundai Motor Group (005380.KS) and LG Energy Solution (373220.KS) will boost their joint investment in a Georgia battery manufacturing plant by $2 billion and add 400 additional jobs, the companies and the state said Thursday.

NIO, Li Auto, and XPeng Combined Deliveries Set a Record. That’s Good for Tesla and BYD.

Chinese electric-vehicle delivery numbers were released just as September begins. They are key for many EV makers, including leaders Tesla +0.46% and BYD 1211 +0.41% . They are also key for investors who want to see strong demand.

NIO Is Launching Its First Phone. What’s Behind the EV Maker’s Move.

Chinese electric vehicle producer NIO  has set a date for the launch of its own phone. It’s a sign of the increasing integration between smartphone and automotive technology and the race to capture the associated revenue. 

NIO Earnings Miss Estimates. But There Is Some Good News for Tesla and BYD.

Second-quarter results from Chinese electric vehicle start-up NIO +1.75% were worse than expected. The stock wasn’t taking much of a hit in early trading though because the third quarter is looking much better.

Shares of BYD jump after Chinese EV maker posts 200% surge in first half profit

Shares of Chinese automaker BYD listed in China jump more than 5% Tuesday, a day after posting a stellar jump in first half profit.

Mobileye Wins Self-Driving Car Business From Polestar. The Price Is Interesting.

Mobileye  picked up more self-driving car business on Friday as the EV start-up Polestar Automotive  selected the company to provide the “Mobileye Chauffeur” on its Polestar 4. The price point is worth noting.