electricvehicleev
A new chemical compound similar to minerals found in alkaline rocks has been discovered at Tokyo University of Science, potentially revolutionizing solid-state batteries for electric vehicles (EVs). This pyrochlore-type oxyfluoride, replacing sulfides as the electrolyte conductor, promises exceptional conductivity even at elevated temperatures. Researchers at Tokyo University of Science have identified a pyrochlore-type conductor that resolves a significant issue affecting other commonly studied types. Unlike sulfides, this new formula does not produce toxic hydrogen sulfide when exposed to ai...
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Tesla shares are tanking after recording 10 straight sessions of gains. The EV maker will have to cancel its August Robotaxi event as per people familiar with the company’s decision. The main reason for the cancellation is supposedly a design rework on some elements of the car. But no one at Tesla has yet confirmed it. This comes as a shock, and that is reflected in the share price which is trading down 6%. Traders were hoping for an extended rally leading into the event but now have to deal with the aftermath of the announcement. The market reaction isn’t something Tesla traders are unfamilia...
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The US Energy department has decided to hand out $1.77 billion to existing automotive companies with shuttered or at-risk plants. The move is aimed at saving the traditional auto industry by helping them join in on the EV trend. Earlier in May, Biden announced increased tariffs on Chinese EVs and batteries in May in a bid to stop the Chinese from dominating the US market. Now he’s pumping money into some businesses so they can fight the Chinese better. Who will benefit from this policy?There are two main beneficiaries of this policy. General Motors (GM)GM will receive $500 million to convert i...
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Tesla Inc (NASDAQ: TSLA) is in focus this morning after Bill Gross said the electric vehicles behemoth has turned into a meme stock. Gross was once an influential investor in bond market of the United States. Tesla stock has gained a whopping 85% in less than three months. Why does Bill Gross see Tesla as a meme stock?The former chief investment officer of Pimco made the striking remark on X.com. His post reads: Tesla acting like a meme stock – sagging fundamentals, straight up price action. But then there seems to be a new meme stock every other day now. Most are pump and dump. The comment su...
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Nikola (NASDAQ: NKLA) stock price has rebounded sharply this month, making it one of the best-performing companies in Wall Street. It rose to a high of $11.80 on Monday, up by over 61% from its lowest point this year. Nikola deliveries are risingNikola, the fast-growing hydrogen truck company, has staged a strong comeback after the company’s deliveries numbers beat the analysts’ estimates. In a statement, the company said that it wholesaled 112 hydrogen fuel cell trucks in the first half of the year. The company sold these vehicles to companies like Walmart Canada, 4GEN, and IMC. The latter is...
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Xpeng (NYSE: XPEV) stock price has collapsed in the past few years. It has retreated to a low of $7.4, down by over 68% from its highest point in 2023. This drop has brought its market cap from over $54 billion in 2021 to over $7.4 billion. Xpeng concerns remainXpeng is one of the leading Chinese electric vehicle companies. Like Nio and Li Auto, it is facing major headwinds as the EV industry has shown signs of cooling. Competition is also rising as companies like BYD, Tesla, Huawei, and almost 100 more seek to gain market share in the country. The company is also facing more headwinds in the ...
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Electric vehicle (EV) stocks have stabilised in the past few weeks as investors started to buy the dip after most of them crashed by double-digits this year. Therefore, an important development in the industry has led analysts to predict a comeback in some popular names. Tesla stock has surgedThe important news in the EV industry that could affect the likes of Lucid Group, Rivian, Polestar, and XPeng is the ongoing recovery of Tesla shares. Tesla jumped by almost 10% on Tuesday and reached its highest point since January 10th. It has now risen by over 66% from its lowest point this year, a spe...
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BYD Company Limited is in focus this morning after reporting a record number of vehicle deliveries for its second quarter. The EV company’s deliveries in Q2 may have made it globally the biggest seller of electric vehicles. How many vehicles did BYD deliver in Q2BYD delivered a total of 426,000 pure electric vehicles in the second quarter. In comparison, the most current Wall Street estimate is for Tesla Inc to deliver about 420,000 cars in Q2. Tesla Inc is also expected to publish its quarterly production and deliveries number later today. If it does indeed come roughly in line with estimates...
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Mullen Automotive (NASDAQ: MULN) stock price continued its downtrend this year, making it one of the worst performers in the electric vehicle (EV) industry. MULN has tumbled by 83% this year as the S&P 500 and Nasdaq 100 indices have soared to their record highs. The company has also underperformed other American and Chinese EV companies like Rivian, Lucid, and Tesla. Short sellers are thrivingMullen Automotive’s collapse has hurt many investors who have hoped of a rebound. At the same time, it has benefited many short sellers since the company is one of the most shorted companies in Wall Stre...
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EVGo (NASDAQ: EVGO) and ChargePoint (NASDAQ: CHPT) stock prices have continued falling this month even as the Nasdaq 100 and S&P 500 indices jumped to a record high. EVGO has crashed by over 32% this year, giving it a market cap of over $724 million. ChargePoint’s stock has also dropped by over 36% this year as its valuation moved to over $630 million. Other electric vehicle charging companies like Blink Charging and Wallbox have also tumbled in the past few years. This decline has benefited short sellers since ChargePoint and EVgo are some of the most shorted companies in Wall Street. ChargeP...
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