Tesla (TSLA) option IV amid GM, F, STLA union contract headlines
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German Chancellor reveals plans for EV expansion law at IAA Munich
September 5, 2023 12:52 PM EDTGerman Chancellor, Olaf Scholz took a tour of this years IAA car show in Munich on Tuesday where he revealed a groundbreaking initiative to expand the electric vehicle industry in his country.
In his address, he praised the German car industry's dedication to electrification while expressing his disapproval of ongoing protests. Scholz announced a new law, expected in the coming weeks, designed to significantly increase the number of electric vehicle charging stations across the country.
Under... More
Tesla (TSLA) sues Chinese tech firm in IP dispute
September 5, 2023 11:50 AM EDTChinese national security newspaper, The Shanghai Securities Journal, reports Tuesday that American electric automaker, Tesla (NASDAQ: TSLA) has filed a lawsuit against Chinese chip designer, Bingling Intelligent Technology, over tech secret infringement and unfair competition disputes.
Tesla alleges that Bingling violated its intellectual property rights, particularly in... More
Renault CEO says Ampere IPO value could reach $10 Billion
September 5, 2023 10:26 AM EDTAccording to CEO Luca de Meol, Renault's Ampere electric vehicle division, set to go public through an initial public offering (IPO), might attain a valuation of around 10 billion euros ($10.8 billion).
During an interview with the Financial Times at the Munich IAA car show on Monday, De Meo suggested that Ampere's market worth could range... More
UBS cuts estimates on Renault and Volkswagen as Chinese competition rises
September 1, 2023 8:21 AM EDTUBS downgraded French automaker, Renault to a Sell rating (From Neutral) and cut their 12-month price target on the automotive stock to 31.00 (From 42.00) as competition from Chinese rivals intensifies.
UBS anticipates continued robust financial performance in the upcoming quarters with the potential for additional positive surprises. However, it is noteworthy that most indicators have ceased to show improvement. An analysis by UBS, including the examination of the BYD teardown Q-Series, leads analyst David Lesne to believe that legacy automakers... More
Tesla (TSLA) cuts prices in China, releases refreshed Model 3
September 1, 2023 7:51 AM EDTShares of Tesla (NASDAQ: TSLA) are up 0.16% in pre-market trading Friday morning after the company announced that they have once again cut prices in China.
The electric automaker announced that they have slashed prices for their premium Model S and Model X vehicles sold in China by between 14% and 21%, according to its official website.
The company also revealed Friday their redesigned Model 3, which is manufactured in China and boasts... More
