Ford Motor Co. said Monday that it would be “significantly increasing” production of its Mustang Mach-E in 2023 as the company continues its efforts to improve supply of its electric-vehicles and cut back on customer wait times. The carmaker’s “new EV supply chain” is “coming online,” Ford F, -1.70% announced in a Monday morning press…
Tesla Inc. late Wednesday reported mixed quarterly results, with revenue slightly below Wall Street expectations, but injected some optimism in its production outlook for 2023 and promised to rein in costs faster. Demand is not a problem, Chief Executive Elon Musk said in a call with analysts after results. “I want to put that concern…
If you think the Federal Reserve wouldn’t dare keep interest rates high and risk throwing the U.S. economy into recession, Keith McCullough would like to have a chat with you. He’s convinced that 2023 will bring a U.S. corporate profit recession and a credit crunch as businesses struggle to obtain financing and pay down debt….
After one of the worst years in Wall Street’s history, investors have some serious questions for companies. As holiday returns roll in — and with them, forecasts for the months or year ahead — many have the chance to answer those questions, or avoid them. In the busiest week of the holiday-earnings season so far,…
Tesla Inc. Chief Executive Elon Musk took the witness stand briefly late Friday in a federal trial in San Francisco over alleged investor losses caused by his “funding secured” tweet and other tweets back in 2018. In his roughly half-hour being questioned by a defense lawyer, Musk lauded Twitter Inc. as the most “democratic” way…
A holiday-shortened week is looking like it will get off to a lower start, as China landed some weak growth numbers and more earnings roll out. That’s after two positive weeks to start 2023. But there’s more than a whiff of bullishness in the air, according to our call of the day, from investment research…
BERLIN—Electric-vehicle sales surged worldwide last year, driven mainly by strong growth in China and Europe, according to fresh data and estimates, providing relief to a broader car market that suffered from economic worries, inflation and production disruptions. While EVs still make up a fraction of car sales in the U.S., their share of the total…
Tesla Inc. has applied for a nearly billion-dollar expansion of its Austin, Texas, gigafactory. According to filings dated this week with the Texas Department of Licensing and Registration, Tesla is planning an investment of roughly $717 million to add about 1.4 million square feet of space at the auto factory, for a total of about…
Ross Gerber is well-known in certain circles as a longtime Tesla Inc. investor, thanks to being a bullish voice on Twitter about the electric-vehicle company. As Tesla TSLA, -1.67% stock has plummeted in recent months while Chief Executive Elon Musk sells shares and focuses on his newer toy, Twitter Inc., Gerber has changed his tune…
Shares of BYD Co. 1211, -2.04%, the Chinese rival to Tesla, fell Tuesday after Warren Buffett further trimmed his holding in the company. The listed Chinese electric vehicle maker slid as much as 2.9% in morning trade in Hong Kong, while the benchmark Hang Seng Index HSI, -0.34% was 0.4% lower. BYD’s shares in Shenzhen…
The U.S.-listed shares of XPeng Inc. plunged Friday to snap a five-day win streak, as price cuts by Tesla Inc. in China soured sentiment toward China-based electric vehicle makers. The stock XPEV, -15.04% was down as much as 17.2% at its intraday low of $9.85, before recovering slightly to close down 15.04% at $10.11. It…
Shares of Chinese electric-vehicle makers rose Tuesday in Hong Kong, led by Li Auto Inc., after strong December delivery data. Li Auto’s shares 2015, +10.48% rose after it posted record-high monthly delivery figures for December last Friday, rounding out 2022 with a 47% increase in deliveries for the year. The car maker said December deliveries…
As Tesla Inc. shares slumped to their worst performance on record in the fourth quarter, the electric-vehicle company delivered fewer cars than analysts expected, according to a Monday announcement. Tesla TSLA, +1.12% reported 405,278 cars were delivered in the final three months of the year, up 31.3% from the same period a year before, while…
WASHINGTON — The Biden administration on Thursday signaled its willingness to address some of the concerns expressed by European and Asian allies over a new U.S. tax credit program for electric vehicles. The program requires all vehicles to be assembled in North America to qualify for consumer tax credits, but the Treasury Department released documents paving the…
Even as electric-vehicle sales have been gaining traction, associated stocks have been crushed during 2022, led by Tesla. Below is a screen of stocks of companies involved in the development, production or charging of electric vehicles that analysts believe will soar (or recover) the most over the next 12 months. There are many different ways…
““Btw, don’t be too bothered by stock market craziness. As we demonstrate continued excellent performance, the market will recognize that. Long-term, I believe very much that Tesla will be the most valuable company on Earth!”” ” — Elon Musk, CEO of Tesla That was Tesla’s chief executive officer Elon Musk addressing employees in an email…
Tesla shares dropped and sharply pared back in Wednesday premarket trading after an analyst at Baird Equity Research lowered its price target for the S&P 500 member. “We are lowering estimates to be conservative due to recent comments on outlook by Musk and potential for weakening of demand,” said Ben Kallo, Baird senior research analyst,…
In a strong response to a recent Twitter poll posted by Elon Musk, users of the platform have called for him to relinquish his position as chief executive officer. Musk has responded that he’ll step down when he “finds someone foolish enough” to take over as CEO, saying he will run the software and server teams instead….
Tesla suspended production at its Shanghai plant on Saturday, bringing ahead a previous plan to pause most work at the plant in the last week of December, Reuters reported Saturday. Reuters reported earlier this month that the electric car giant planned to suspend Model Y production at the plant from Dec. 25 to Jan. 1. The…
WASHINGTON — The Biden administration on Monday delayed proposing detailed rules for new tax incentives for electric vehicles, following strong pushback from European and Asian allies that the subsidy program discriminated against their companies. The Treasury Department said details on the battery-sourcing requirements that electric vehicles must meet to qualify for up to $7,500 in tax credit will be…