Tag: Electric Vehicle

The European Union on Wednesday said it would slap higher tariffs on Chinese electric vehicle imports, which it found benefit “heavily from unfair subsidies” and pose a “threat of economic injury” to EV producers in Europe.

Shares of Chinese electric vehicle maker NIO were lower after the company reported weaker-than-expected sales. Things are improving though, and the car maker expects better results in the second quarter.

Billionaire investor Ron Baron, longtime Tesla bull and shareholder, wrote an open letter in support of CEO Elon Musk’s controversial $56 billion pay package.

Volvo Cars’ sales rose to 68,034 cars in May, up 13% from a year earlier, buoyed by a 27% jump in Europe and a strong performance by its fully electric EX30, the group said on Wednesday.

Electric vehicle sales are recovering in China. That’s some good news for automotive investors starting a new month. Hybrids, however, are still outpacing all-electric vehicle sales. That can make the coming months tougher on all-electric EV giant Tesla .

Tesla has cut output of its best-selling Model Y electric car by a double-digit percentage number at its Shanghai plant since March, according to industry data and a source.

Lucid Group will reduce its workforce in the United States by 6%, or around 400 employees, it said on Friday, becoming the latest electric-vehicle maker to cut jobs as the industry grapples with slower growth.

Rivian Automotive stock was sliding after the company reported earnings after the close on Tuesday.

Lucid Group forecast higher capital expenditure this year and reiterated an annual production forecast below Wall Street targets on Monday amid slower-than-expected EV demand, sending its shares down nearly 9% in extended trading.

Investors like delivery results from NIO  the best of its peers. Shares were up in early trading as growth for the electric-vehicle maker accelerated.

Shares of Tesla rose sharply in U.S. premarket trading on Monday after the electric car maker passes a significant milestone to roll out its full self-driving technology in China.

Tesla on Wednesday asked its shareholders to once again approve CEO Elon Musk’s record-breaking $56 billion pay that was set in 2018, but was rejected by a Delaware judge in January.

Tesla stock fell Monday as investors digested news about potential production problems and potential layoffs amid slowing growth for electric vehicles and rising geopolitical tensions.

Tesla stock briefly dived in midday trading Friday after Reuters reported the electric-vehicle company wouldn’t build the lower-priced all-electric vehicle Wall Street refers to as the Model 2.

Tesla will send a team to India this month to scout locations for an EV plant, estimated to be worth $2 billion to $3 billion, Financial Times reported on Wednesday.

Chinese electric vehicles maker BYD has slowed down its plans to build an EV factory in Vietnam, a manager of the industrial park where the plant would be built told a shareholders meeting on Thursday.

Tesla stock was falling Friday amid more bad news from China that has investors worried about electric-vehicle demand —again.

Tesla stock was rising in early trading Wednesday as it hiked prices on more Model Y cars.

Shares of Tesla Inc. got a nice bump up Monday, after the electric-vehicle giant said it was raising prices on its lower-cost Model Y vehicles in the U.S.

Tesla stock was rising in early trading Monday, heading for an upbeat start to the week.