Electric vehicles
Nikola shareholders approve measure to issue new stock over ex-CEO Trevor Milton’s objection
Nikola Motor Company Source: Nikola Motor Company Electric truck maker Nikola has finally won shareholder approval to issue new stock, the company said on Tuesday. Nikola has been trying for two months to win enough votes to overcome the objection of its since-departed founder, who previously voted his 20% interest in Nikola against the proposal. […]
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Nikola to acquire battery-pack supplier Romeo Power in $144 million deal
Nikola Motor Company Two truck Source: Nikola Motor Company Electric heavy truck maker Nikola said Monday that it struck a $144 million deal to acquire battery pack supplier Romeo Power, giving the company control over a key part of its supply chain. The all-stock transaction values Romeo at 74 cents per share, a 34% premium […]
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Shares of Chinese EV makers Nio, Xpeng and Li Auto rise as July car deliveries jump
Xpeng said it delivered 11,524 in July, a rise versus the same time last year, but slipping from June’s figure. Xpeng had the highest deliveries out of its closest rivals Nio and Li Auto in July. Xpeng said it will begin accepting reservations for its new G9 SUV in August 2022. Chen Dongqiu | Visual […]
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Ford CEO offers more clues about automaker’s ambitious electric vehicle plans
Electric vehicle batteries are in short supply, and costs for materials such as nickel and cobalt are surging. Yet legacy automaker Ford Motor says it plans to be profitably building millions of EVs a year in just four years. This week, the Detroit automaker gave investors a little more clarity about how it plans to […]
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Ford Motor will report its second-quarter results after the bell
Ford CEO Jim Farley at the company’s Dearborn, Michigan, plant where it’s building the electric F-150 Lightning on April 26, 2022. CNBC | Michael Wayland Ford Motor Company will report its second-quarter earnings shortly after the U.S. markets close today. Here’s what Wall Street is expecting. Adjusted earnings per share: $0.45, according to Refinitiv estimates. […]
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Ferrari CEO shrugs off concerns about EV performance
A Ferrari photographed in Switzerland on March 2, 2015. The Italian company plans to launch a fully electric vehicle in 2025. Harold Cunningham | Getty Images News | Getty Images The CEO of Ferrari on Tuesday moved to allay fears the firm’s upcoming electric offering will compromise on performance, telling CNBC the luxury carmaker had […]
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A new way to short Tesla: AXS Investments launches new single-stock ETFs
Investors have a new way to make bullish and bearish bets on large-cap stocks. AXS Investments launched eight of 18 approved single-stock leveraged ETFs this month. The funds aim to increase exposure of short-term single-stock investments. “They’re designed for active traders, traders that are looking to make tactical trading decisions on a daily basis,” the […]
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GM is far behind Tesla in electric vehicle sales. CEO Mary Barra has bet the company that will change
GM Chair and CEO Mary Barra addresses investors Oct. 6, 2021 at the GM Tech Center in Warren, Michigan. Photo by Steve Fecht for General Motors DETROIT — In September 2017, General Motors CEO Mary Barra and her top executives visited the automaker’s design dome, considered hallowed ground within the company for its role in […]
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Volkswagen CEO Diess to depart; Porsche boss Blume will lead the German auto giant
Herbert Diess, CEO of Volkswagen Sean Gallup | Getty Volkswagen CEO Herbert Diess will leave the company at the end of August, the company said Friday. Oliver Blume, currently the CEO of Volkswagen subsidiary Porsche, will succeed Diess as of September 1. The automaker didn’t provide a reason for Diess’s departure. Diess joined Volkswagen from […]
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Here’s what Cadillac’s new $300,000 electric sedan will look like
The Cadillac Celestiq show car previews an upcoming electric sedan for General Motors. GM DETROIT – General Motors on Friday previewed what its most expensive Cadillac ever will look like as the automaker attempts to redefine the quintessential American luxury brand into an electric vehicle leader. The Detroit automaker unveiled a “show car” version of […]
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