Tesla Inc
New car quality declined sharply this year with supply chain problems, says J.D. Power
Billboards at the Ziegler Cadillac, Buick and GMC Dealership in Lincolnwood, Illinois, the United States. U.S. General Motors Co. Joel Lerner | Xinhua News Agency | Getty Images New vehicle quality declined by 11% this year amid parts shortages, shipping snarls and global trade disruptions, according to J.D. Power’s 2022 Initial Quality Study. Buick, Dodge […]
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Cathie Wood explains her bear market strategy, slashes portfolio to just 34 holdings
One of Ark Invest CEO Cathie Wood’s strategies to weather the bear market and manage risk is through consolidation. She told CNBC on Tuesday that since February 2021, the investment firm has cut its portfolio down from about 58 to 34 stocks to focus on its “highest conviction names.” “When people invest in Ark, they […]
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UiPath to cut 5% of its workforce as part of restructuring plan
UiPath IPO at the New York Stock Exchange. Source: NYSE UiPath will reduce roughly 5% of its total workforce as part of a restructuring plan, according to a new SEC filing. The company, a provider of software for automating office tasks, said that it had 4,200 employees as of April 30, 2022. Most of the […]
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Tencent wants to be foreign automakers’ go-to company for tech in China’s electric car market
BMW’s iX electric SUV in China was the first global car brand to include the automobile version of Tencent’s WeChat messaging app, according to the Chinese tech company. Tencent BEIJING — Chinese internet giant Tencent wants to sell technology which the company says will help foreign automakers that want to sell cars in China’s massive electric vehicle market. BMW and some […]
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Tech leaders react to Roe v. Wade reversal
Salesforce CEO Marc Benioff, Microsoft co-founder Bill Gates, and departing Meta COO Sheryl Sandberg were among noteworthy tech executives speaking out publicly on Friday’s Supreme Court ruling which overturned Roe v. Wade. The ruling ends constitutional right to abortion in the U.S., which has stood since 1973. Apple CEO Tim Cook, Tesla and SpaceX CEO Elon […]
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Toyota issues recall for its flagship electric SUV following concerns about wheels coming off
Toyota’s bZ4X electric sport utility vehicle photographed in Chiba Prefecture, Japan, on Feb. 24, 2022. The Japanese automotive giant has issued a safety recall related to the bZ4X’s wheels. Kiyoshi Ota | Bloomberg | Getty Images Japanese automotive giant Toyota issued a safety recall for more than 2,000 of its all-electric SUV, the bZ4X. Announced […]
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‘Strong growth ahead’: Bank names its top EV battery stocks, giving one over 60% upside
Japanese investment bank Nomura has named the battery stocks it thinks are set to pop on rising electric vehicle adoption. The bank estimates that global EV penetration will reach 27.2% in 2030, up from 11.8% in 2022, driven by the “irreversible trend” for carbon neutrality. In a note from Jun. 22, Nomura’s analysts, led by […]
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BMW opens $2.2 billion EV plant in China as it ramps up challenge to Tesla, domestic players
German automaker BMW is ramping up production of electric vehicles in China as it looks to catch up with leaders Tesla and domestic rivals like BYD. The new plant in Shenyang is BMW’s third in China and brings its annual production capacity in the country to 830,000 cars. Anadolu Agency | Getty Images BMW has […]
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Musk says Tesla’s factories in Berlin and Texas are ‘gigantic money furnaces’
“The past two years have been an absolutely nightmare of supply chain disruptions, one thing after another, and we are not out of it yet,” Tesla CEO Elon Musk said. Patrick T. Fallon | Reuters Tesla’s newest car factories in Texas and Berlin are losing “billions of dollars right now” as supply chain disruptions hamper […]
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Morgan Stanley’s Jonas cuts Tesla price target, warns cars deliveries may fall short
Morgan Stanley’s widely followed Adam Jonas slashed his price target on Tesla as he lowered an estimate for second quarter deliveries. “We mark to market our 2Q forecasts for lower volume (latest data, China) with most of the shortfall made up for in 2H volume and higher pricing,” Jonas said in a Wednesday afternoon note. […]
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