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Polestar to Halt US Car Sales for 2027 Under New China/Russia Vehicle Rule
business15 days ago

Polestar to Halt US Car Sales for 2027 Under New China/Russia Vehicle Rule

Polestar says it will no longer sell cars in the United States starting with the 2027 model year due to a new US Connected Vehicles Rule that restricts imports and sales of vehicles with connectivity linked to China or Russia. The company will continue to sell existing stock of Polestar 3 and 4 and maintain its service network; 94% of its Q1 2026 retail sales were outside the US. Volvo/Geely ownership context is noted, and Ford is seeking similar authorization for its China-built Lincoln Nautilus.

via Motor1.com|
#business#connected-vehicles#ev-industry
Lucid Braces for Q4 Earnings as Traders See a Double-Digit Post-Report Swing
business4 months ago

Lucid Braces for Q4 Earnings as Traders See a Double-Digit Post-Report Swing

Lucid Group (LCID) is due to report Q4 2025 results on Feb. 24. Options traders are pricing in roughly a 14.9% move in LCID shares after earnings, above Lucid’s four-quarter average post-earnings move. Wall Street’s consensus is a Moderate Sell among three analysts, with an average target of $12.67 implying about 30% upside from current levels. The quarterly forecast calls for a loss of about $2.67 per share on revenue around $459.5 million (up ~96% year over year). Lucid has struggled to consistently meet estimates and profitability is not expected until 2026–2027 as production scales and costs come down, with margins and cash burn likely to be key focus areas in the update.

via TipRanks|
#business#earnings-preview#ev-industry
Xiaomi's YU7 Electric SUV Gains Rapid Success, Challenging Tesla and Apple
business1 year ago

Xiaomi's YU7 Electric SUV Gains Rapid Success, Challenging Tesla and Apple

Xiaomi has successfully entered the electric vehicle market with its latest SUV, surpassing Apple’s failed EV ambitions by leveraging its strong brand, ecosystem, and strategic talent recruitment, primarily in China. The company’s grounded approach, focus on affordability, and early investments in supply chain infrastructure have contributed to its rapid success and high demand, positioning Xiaomi as a notable player in the competitive EV industry. Despite challenges like design copying and safety incidents, Xiaomi’s early wins and plans for global expansion suggest a promising future in the EV market.

via Bloomberg|
#business#china#electric-vehicles
Tesla Stock Surges Amid Political Speculation and Musk's Controversies
business1 year ago

Tesla Stock Surges Amid Political Speculation and Musk's Controversies

Tesla shares surged 8% in overnight trading as investors speculated that a potential Donald Trump election victory could benefit Elon Musk, who has backed Trump with a $75 million donation to a super PAC. Musk is expected to be appointed to a government efficiency commission if Trump wins, which could favor Tesla despite Trump's general stance against clean energy incentives. Analysts suggest Tesla's scale could give it a competitive edge in a non-subsidy environment, especially with potential higher tariffs on Chinese EVs.

via CNBC|
#business#donald-trump#elon-musk
Tesla Stock in the Balance: Election Outcomes and Musk's Political Moves
business1 year ago

Tesla Stock in the Balance: Election Outcomes and Musk's Political Moves

Wedbush analyst Daniel Ives suggests that a Trump presidency could have mixed effects on Tesla. While Trump's critical stance on the EV industry might lead to the removal of EV subsidies, Tesla's scale could give it a competitive edge. Additionally, higher tariffs on Chinese imports could benefit Tesla by limiting competition from Chinese EV makers. However, potential trade tensions with China pose a risk, as a significant portion of Tesla's production and sales are linked to the region. Ives maintains an 'Outperform' rating for Tesla, with a $300 price target.

via TipRanks|
#business#china#daniel-ives
Lucid to Cut 6% of US Workforce Amid EV Demand Decline
business2 years ago

Lucid to Cut 6% of US Workforce Amid EV Demand Decline

Lucid Group will cut 6% of its US workforce, around 400 employees, due to slowing EV demand and cost control measures amid high inflation and interest rates. The layoffs will affect all levels except hourly manufacturing and logistics staff. The company expects related charges of $21-$25 million and aims to complete the plan by Q3 2024. This follows similar moves by Rivian and Tesla. Lucid is also expanding production capacity and planning new models to attract more customers.

via Reuters|
#business#electric-vehicles#ev-industry
"Nikola Exceeds Q1 Hydrogen Truck Delivery Estimates, Outperforms Tesla in Electric Big Rigs"
businesstechnology2 years ago

"Nikola Exceeds Q1 Hydrogen Truck Delivery Estimates, Outperforms Tesla in Electric Big Rigs"

Nikola exceeded first-quarter delivery estimates for its hydrogen big rigs, delivering 40 vehicles compared to the estimated 30. The company aims for further sales growth as it opens refueling stations and pivots to hydrogen technology. Despite challenges in the EV industry, Nikola's shares rose 10%, showing signs of progress after facing setbacks including the founder's fraud conviction and a recall of its battery-powered trucks.

via Yahoo Finance|
#businesstechnology#deliveries#electric-vehicles
"Nikola Exceeds Q1 Hydrogen Truck Delivery Projections, Surpasses Tesla in Electric Big Rigs"
business-automotive2 years ago

"Nikola Exceeds Q1 Hydrogen Truck Delivery Projections, Surpasses Tesla in Electric Big Rigs"

Nikola exceeded first-quarter delivery expectations for its hydrogen big rigs, delivering 40 vehicles compared to the estimated 30, signaling progress in its shift to hydrogen technology. The company aims for further sales growth with the launch of HYLA hydrogen fueling solutions and the opening of two refueling stations in California and Alberta. Despite facing challenges and a tumultuous past, including a significant drop in share value and a recall of battery-powered trucks, Nikola's stock rose 10% following the positive delivery figures.

via Reuters|
#business-automotive#deliveries#electric-vehicles
Canoo's Bleak Forecast Sparks Stock Tumble
business-electric-vehicles2 years ago

Canoo's Bleak Forecast Sparks Stock Tumble

Electric vehicle maker Canoo forecasts 2024 revenue well below analyst expectations, leading to a 38% drop in its shares in extended trading. The company, which has been struggling with dwindling capital and uncertain demand, reported a net loss of $302.6 million for the year ended Dec. 31. The broader slowdown in demand for battery-powered cars, driven by high-interest rates and competition, has impacted startups and major automakers alike, making it difficult for firms like Canoo to raise more money.

via Reuters|
#business-electric-vehicles#canoo#capital-raising
"Biden Administration's Resilient EV Regulations Defy Political Shifts and Accelerate Clean Auto Adoption"
environment-politics2 years ago

"Biden Administration's Resilient EV Regulations Defy Political Shifts and Accelerate Clean Auto Adoption"

The new EPA rule sets strict limits on tailpipe pollution, potentially leading to over half of all car sales being zero-emissions by 2032 and avoiding 7 billion tons of CO2 emissions over 30 years. Despite potential opposition from a second Trump presidency, the significant investment in electric vehicles and related infrastructure may make it difficult to roll back the regulation. The transition to EVs is accelerating, with record sales and growing charging infrastructure, but potential policy uncertainty could slow down the industry's progress. Lawsuits from fossil fuel companies and Republican attorneys general may also challenge the new rule, but its legal basis is supported by longstanding EPA standards.

via Fast Company|
#electric-vehicles#environment-politics#environmental-regulation
"Rivian's Latest Moves: Surprises, Setbacks, and Inspirations"
business2 years ago

"Rivian's Latest Moves: Surprises, Setbacks, and Inspirations"

Rivian surprised investors with the reveal of its upcoming R2 crossover and unexpected announcements of a smaller R3 crossover and R3X performance version. The R2, starting at around $45,000, aims to reach a broader consumer base with lower prices and up to 330 miles of range. Despite disappointment in 2024 production guidance, the company's cost-cutting efforts and plans to accelerate R2 production could reignite investor enthusiasm. However, with its rapid cash burn and speculative nature, Rivian remains a highly speculative investment.

via Yahoo Finance|
#business#electric-vehicles#ev-industry
"China's Electric Car Dominance Threatens Global Industry and Economy"
business-automotive2 years ago

"China's Electric Car Dominance Threatens Global Industry and Economy"

Chinese electric vehicle (EV) makers have rapidly grown to dominate the global EV market, posing a significant threat to US auto industry players like Tesla, GM, and Ford. With a wide range of affordable EV options and a strong focus on expanding into international markets, Chinese companies are challenging the traditional dominance of American automakers. As China aims to become the world's leading EV manufacturer, the US is grappling with how to protect its auto industry while also providing consumers with affordable EV choices. The competition between Chinese and US automakers is reshaping the global automotive landscape and raising questions about the future of the industry.

via Business Insider|
#business-automotive#china#ev-industry