- Step Aside Ford, GM: New Ram EV Pickup Boasts 500-Mile Range – Stellantis (NYSE:STLA), Tesla (NASDAQ:TSLA), Ford Motor (NYSE:F), General Motors (NYSE:GM), Rivian Automotive (NASDAQ:RIVN) Benzinga
- The 2025 Ram 1500 REV’s 14,000-Pound Max Tow Target Is More Impressive Than You Realize The Drive
- How Ram went from the wild-looking REV Concept to the production pickup Autoblog
- Electrification cannot ‘be a limitation,’ Ram Brand CEO explains Yahoo Finance
- Ram Brands CEO on EV charging networks: ‘We’re going to get there faster than you think’ Yahoo Canada Finance
- View Full Coverage on Google News
Tag Archives: NASDAQTSLA
Elon Musk Hints At ‘Epic’ Q4 After Revenue Miss, GM’s Pricey Cadillac Celestiq Draws Flak, Automakers To Double Down On EV Spending And More: The Week’s Biggest EV Stories – Tesla (NASDAQ:TSLA)
As the market staged a rebound, helped by a positive start to the earnings season, most electric vehicle stocks advanced in the week ended Oct. 21.
The week’s EV news flow was headlined by market leader Tesla, Inc.’s TSLA earnings report.
Here are the key events to bring EV investors up to date:
Tesla’s Present Tense, Future Perfect: Tesla’s third-quarter revenue and automotive gross margin came in shy of estimates, generating negative sentiment toward the stock.
CEO Elon Musk sounded upbeat on the earnings call. He suggested the fourth quarter will likely be “epic.” The Semi launch event will be held on Dec. 1, the billionaire confirmed. The company targets scaling up Semi manufacturing to 50,000 by 2024.
Tesla shared on its official Twitter account a link to vote for supercharger locations, and those with a Tesla account can cast their votes. The company said that in every three-month voting cycle, voters can cast multiple votes to help it decide on new locations for its superchargers.
Tulipshare, a retail shareholder platform, called upon Tesla to link executive pay to environmental, social and governance factors, Reuters reported. The group said it plans to submit a shareholder resolution on the matter during the EV maker’s annual meeting of stockholders in 2023. So far, CEO Musk’s compensation is tied to the company’s financial performance.
With the Twitter, Inc. TWTR deal deadline approaching, analysts, including Gary Black of Future Fund, expect Musk to offload more Tesla shares next week. Black predicts a rally in Tesla shares once the Twitter deal overhang lifts.
See also: Elon Musk Says This Is The ‘Closest We Have Been To’ World War 3 Since 1962 As He Warns Of A Global Recession Lasting Until Spring 2024
GM’s Cadillac Unveils $300,000 EV: General Motors Corporation’s GM Cadillac announced an ultra-luxury EV named Celestiq priced at a whopping $300,000-plus, which would go into production by the end of next year. Not many are confident that there will be takers for the pricier car and began drawing parallels with Apple, Inc.’s AAPL now-defunct 18K Gold Apple Watch Edition.
Automakers To Double Spending? Spending on EVs as well as batteries and battery materials is expected increase to $1.2 trillion through 2030, Reuters reported, citing public data and projections released by automakers.
Automakers are looking to build 54 million battery EVs by the same time frame, accounting for about 50% of total vehicle production, the report said.
Rivian Almost Through With Fixing Recalled Vehicles: Rivian Automotive, Inc. RIVN CEO R.J. Scaringe said at a TechCrunch conference that the company has fixed a significant majority of the more than 12,000 vehicles that it recalled this month.
The recall was initiated to fix a loose fastener connecting the front upper control arm and the steering knuckle.
He also suggested that Rivian is excited about the e-bike space. The CEO suggested it is going to play an important role in transportation, both for the movement of goods for commercial purposes and also for the movement of people.
Canoo’s Order Book Abounds: Canoo Inc. GOEV announced a binding order for 9,300 EVs from Kingbee, a van rental provider, with an option to increase to 18,600 vehicles. Kingbee will upfit, wrap and deliver Canoo vehicles as work-ready fleets solutions for enterprise and small- and medium-size business customers across the U.S.
Read Next: Best Electric Vehicle Stocks
EV Stock Performance For The Week:
The Cadillac Celestiq. Courtesy photo.
Elon Musk Hints At ‘Epic’ Q4 After Revenue Miss, GM’s Pricey Cadillac Celestiq Draws Flak, Automakers To Double Down On EV Spending And More: The Week’s Biggest EV Stories – Tesla (NASDAQ:TSLA)
As the market staged a rebound, helped by a positive start to the earnings season, most electric vehicle stocks advanced in the week ended Oct. 21.
The week’s EV news flow was headlined by market leader Tesla, Inc.’s TSLA earnings report.
Here are the key events to bring EV investors up to date:
Tesla’s Present Tense, Future Perfect: Tesla’s third-quarter revenue and automotive gross margin came in shy of estimates, generating negative sentiment toward the stock.
CEO Elon Musk sounded upbeat on the earnings call. He suggested the fourth quarter will likely be “epic.” The Semi launch event will be held on Dec. 1, the billionaire confirmed. The company targets scaling up Semi manufacturing to 50,000 by 2024.
Tesla shared on its official Twitter account a link to vote for supercharger locations, and those with a Tesla account can cast their votes. The company said that in every three-month voting cycle, voters can cast multiple votes to help it decide on new locations for its superchargers.
Tulipshare, a retail shareholder platform, called upon Tesla to link executive pay to environmental, social and governance factors, Reuters reported. The group said it plans to submit a shareholder resolution on the matter during the EV maker’s annual meeting of stockholders in 2023. So far, CEO Musk’s compensation is tied to the company’s financial performance.
With the Twitter, Inc. TWTR deal deadline approaching, analysts, including Gary Black of Future Fund, expect Musk to offload more Tesla shares next week. Black predicts a rally in Tesla shares once the Twitter deal overhang lifts.
See also: Elon Musk Says This Is The ‘Closest We Have Been To’ World War 3 Since 1962 As He Warns Of A Global Recession Lasting Until Spring 2024
GM’s Cadillac Unveils $300,000 EV: General Motors Corporation’s GM Cadillac announced an ultra-luxury EV named Celestiq priced at a whopping $300,000-plus, which would go into production by the end of next year. Not many are confident that there will be takers for the pricier car and began drawing parallels with Apple, Inc.’s AAPL now-defunct 18K Gold Apple Watch Edition.
Automakers To Double Spending? Spending on EVs as well as batteries and battery materials is expected increase to $1.2 trillion through 2030, Reuters reported, citing public data and projections released by automakers.
Automakers are looking to build 54 million battery EVs by the same time frame, accounting for about 50% of total vehicle production, the report said.
Rivian Almost Through With Fixing Recalled Vehicles: Rivian Automotive, Inc. RIVN CEO R.J. Scaringe said at a TechCrunch conference that the company has fixed a significant majority of the more than 12,000 vehicles that it recalled this month.
The recall was initiated to fix a loose fastener connecting the front upper control arm and the steering knuckle.
He also suggested that Rivian is excited about the e-bike space. The CEO suggested it is going to play an important role in transportation, both for the movement of goods for commercial purposes and also for the movement of people.
Canoo’s Order Book Abounds: Canoo Inc. GOEV announced a binding order for 9,300 EVs from Kingbee, a van rental provider, with an option to increase to 18,600 vehicles. Kingbee will upfit, wrap and deliver Canoo vehicles as work-ready fleets solutions for enterprise and small- and medium-size business customers across the U.S.
Read Next: Best Electric Vehicle Stocks
EV Stock Performance For The Week:
The Cadillac Celestiq. Courtesy photo.
Tesla Sued To Hold Elon Musk ‘Accountable’ For ‘Misleading And Deceptive Statements’ On Autopilot, FSD – Tesla (NASDAQ:TSLA)
A California-based Tesla Inc TSLA owner has sued the electric carmaker, saying that the company and its CEO Elon Musk are “deceptively and misleadingly” marketing the Autopilot and “Full Self-Driving” software.
Tesla owner Briggs Matsko has said that he paid a $5,000 premium for his 2018 Tesla Model X to get ‘Enhanced Autopilot’, which was sold as a precursor to FSD software that now costs $15,000 but is still in the Beta phase.
According to the lawsuit, since 2016, Tesla and Musk deceptively advertised the technology as fully functioning or “just around the corner” despite knowing that the technology did not work or was non-existent and made vehicles unsafe.
The lawsuit filed in U.S. federal court in San Francisco seeks unspecified damages for people who, since 2016, bought or leased Tesla vehicles with Autopilot, Enhanced Autopilot, and Full Self-Driving features.
“Plaintiff brings this consumer class action lawsuit to hold Tesla and its representatives, including CEO Elon Musk, accountable for years of making misleading and deceptive statements regarding the company’s advanced driver assistance systems (ADAS) technology,” reads the lawsuit.
Also Read: Why This Tesla Driver Paid $400 To Implant Car Key Into His Right Hand: ‘It Comes In Handy’
Tesla has come under heavy scrutiny for the controversial Autopilot advanced driver assistance system. Last month, the Department of Motor Vehicles (DMV) in California accused Musk-run Tesla of running fake claims about its Autopilot and FSD features.
The lawsuit claimed, “Tesla has deceptively and misleadingly marketed its ADAS technology as autonomous driving technology under various names, including ‘Autopilot,’ ‘Enhanced Autopilot,’ and ‘Full Self-Driving Capability,’ the latter two of which Tesla charges consumers thousands of additional dollars to add to their new vehicle.”
According to Tesla, Autopilot enables vehicles to steer, accelerate and brake within their lanes, while Full Self-Driving lets vehicles obey traffic signals and change lanes.
It also said both technologies “require active driver supervision,” with a “fully attentive” driver whose hands are on the wheel, “and do not make the vehicle autonomous.”
Photo: georgemoga on flickr
Tesla Motors, Inc. (NASDAQ:TSLA) – Watch: Elon Musk’s SpaceX Takes Its ‘American Broomstick’ Jab At Russia A Step Further As Falcon 9 Takes Off
Elon Musk-owned SpaceX on Wednesday took one more dig at just Russia, seconds before launching 48 Starlink satellites to Earth’s low orbit.
What Happened: In the launch video of Falcon 9‘s latest mission, SpaceX launch engineer Julia Black can be heard saying, “Time to let the American Broomstick fly and hear the sounds of freedom” seconds before the liftoff.
The Context: Her jibe, similar to the Tesla Inc (NASDAQ: TSLA) CEO’s last week, was in reference to a quip made by Russia’s space agency chief Dmitry Rogozin.
Rogozin, while announcing his country’s decision to stop supplying rocket engines to the United States in retaliation for its sanctions against Russia, had said Americans could “use broomsticks” instead to launch their rockets.
See Also: Falcon 9 Takes Another 47 Starlink Satellites To Space: Why Elon Musk Is Calling It An ‘American Broomstick’ Launch
The Launch: This was SpaceX’s forty-first launch using the partially reusable Falcon 9 rocket, propulsion engineer Youmei Zhou said in a live telecast prior to the liftoff at 8:45 a.m. ET from Cape Canaveral Space Force Station. It was also SpaceX’s ninth Falcon 9 launch so far this year.
Starlink is a SpaceX venture designed to beam down high-speed internet, especially in remote areas from satellites in orbit to Earth.
Musk recently said the service would be expanded to 14 countries and that the company is awaiting licenses in several other countries.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Tesla Motors, Inc. (NASDAQ:TSLA), Amazon.com, Inc. (NASDAQ:AMZN) – Tesla CEO Elon Musk Proposes Selling 10% Of His Company Stock, He’s Asking Twitter Followers To Decide
Elon Musk on Saturday sent a tweet in which he proposed selling 10% of his Tesla Inc (NASDAQ: TSLA) stock, and asked his followers to vote on his decision.
What Happened: The Tesla CEO was referencing a proposal in the U.S. Senate to tax the richest Americans in an effort to pay for social safety net and climate change policies. The plan would tax billionaires on the unrealized gains in the value of their liquid assets, such as stocks, bonds and cash. Musk responded in a tweet.
Much is made lately of unrealized gains being a means of tax avoidance, so I propose selling 10% of my Tesla stock.
Do you support this?
— Elon Musk (@elonmusk) November 6, 2021
Musk followed up with a second tweet about 10 minutes later, explaining why selling his Tesla stock would be his way of paying such a tax.
Note, I do not take a cash salary or bonus from anywhere. I only have stock, thus the only way for me to pay taxes personally is to sell stock.
— Elon Musk (@elonmusk) November 6, 2021
At the time of publication, 55.6% supported Musk selling his stock, while 44.4% opposed the idea.
Why It Matters: The tax would be levied on those with more than $1 billion in assets or more than $100 million in income for three consecutive years, that’s about 700 people in the United States. Included in that group are Musk, Meta Platforms Inc (NASDAQ: FB) founder Mark Zuckerberg, and Amazon.Com Inc (NASDAQ: AMZN) founder Jeff Bezos.
The legislation would initially impose a capital gains tax of 23.8 percent on the increase in value of billionaires’ tradable assets based on the original price of those assets.
Related Link: Why Paul Krugman Accuses Elon Musk Of An ‘Insecure Ego’
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
($BTC), Tesla Motors, Inc. (NASDAQ:TSLA) – Dogecoin Gets New Wings With Developer Upgrades: What You Need To Know
Dogecoin (CRYPTO: DOGE), the joke cryptocurrency popularized by Tesla Inc (NASDAQ: TSLA) CEO Elon Musk, has received an under-the-hood upgrade.
What Happened: The release of the Dogecoin Core 1.14.3 was announced on the r/dogecoin discussion board on Reddit on Sunday.
The update includes “important performance improvements,” and is a “strongly recommended update for everyone [running a DOGE node].”
Why It Matters: Significant improvements to the speed at which a node can upload blocks will be made by removing expensive integrity checks which were previously carried out each time a block was sent to another node after the update is applied.
The default time that transactions are cached in the mempool — a mechanism for storing information on unconfirmed transactions — will be reduced from 336 hours to 24 hours.
See Also: In Bitcoin’s Path Back To $50,000, Institutional Investors, Whales Battle Miners
The default setting can be modified by inputting a value in hours that makes the most sense for the use cases the node serves.
Technical development in DOGE has mirrored Bitcoin (CRYPTO: BTC), according to CoinDesk.
“Since March 2014, “[Dogecoin Core] has always been based on Bitcoin,” said DOGE developer Maximilian Keller, as per CoinDesk.
The price increase in the meme cryptocurrency has hastened the improvements in the Shiba-Inu-themed cryptocurrency.
DOGE has risen 812.56% since the year began. In the same period BTC has given 58.12% returns.
Price Action: DOGE traded 0.82% higher at $ 0.049 at press time, while BTC traded 0.54% higher at $46,637.15.
Read Next: Dogenomics: What’s So Special About Dogecoin Anyway?
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.