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Read previewBack in 2010, Elon Musk predicted that Japan would become Tesla's largest market outside of the US. "There are some geographies where our market share is remarkably low, like Japan," Musk said in a fourth-quarter earnings call earlier this week. Akio Toyoda has been skeptical of the benefits of EV cars. Tomohiro Ohsumi/Getty ImagesThat hesitancy has also held back the development of charging infrastructure — there are only about 30,000 EV charging connectors in the whole country — and kept price tags higher. But Japanese carmakers do have some plans to boost their EV efforts.
Persons: , Elon Musk, Musk, Tesla, Suzuki, Nissan Sakura, Tatsuo Yoshida, Akio Toyoda, Ohsumi Organizations: Service, Business, BMW, Toyota, Honda, Nissan, Bloomberg, Bloomberg Intelligence, New York Times Locations: Japan, Europe
Rivian CEO says EV market suffers from a lack of choice
  + stars: | 2024-01-26 | by ( Julie Coleman | ) www.cnbc.com   time to read: +1 min
Rivian CEO RJ Scaringe on Friday discussed the electric vehicle market with CNBC's Jim Cramer, saying EV automakers need to give consumers a wider variety of models to choose from. "What I think we're witnessing today is a lack of choice," Scaringe said. Rivian is trying to broaden its offerings with a new line of R2 vehicles, which Scaringe will be smaller and less expensive than current Rivian models. Even Tesla , one of the few profitable EV companies, cut costs last year, reducing prices of new cars by 20%. But Scaringe said he's confident the world will eventually make a lasting shift to EVs, saying government policies will drive that change.
Persons: RJ Scaringe, CNBC's Jim Cramer, Scaringe, Rivian, Tesla, he's Organizations: EV, Biden Locations: U.S
Ark Invest's Cathie Wood piled into Tesla shares Thursday as the electric vehicle company, one of her top holdings, sold off drastically after weak earnings and a slowdown warning. Wood's flagship ARK Innovation ETF added 148,246 shares of Tesla in the previous session, and 29,624 shares for her ARK Autonomous Technology & Robotics ETF , according to Ark's daily trading data. Combined, the purchases were worth more than $32 million based on Tesla's Thursday close of $182.63. Tesla shares shed 12% Thursday, suffering their biggest drop in over a year. Wood has been a longtime champion of Tesla, betting on an accelerated shift to EVs as well as Tesla's artificial intelligence capabilities.
Persons: Wood, Tesla Organizations: Tesla, ARK Autonomous Technology & Robotics, Elon Locations: Texas, Coinbase
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInvesting in charging network will 'give customers peace of mind', says Rivian CEORivian CEO RJ Scaringe joins 'Mad Money' host Jim Cramer to talk the state of the EV transition in the U.S., investment in charging infrastructure, consumer adoption of EVs and more.
Persons: RJ Scaringe, Jim Cramer Locations: U.S
Rivian CEO RJ Scaringe goes one-on-one with Jim Cramer
  + stars: | 2024-01-26 | by ( Jim Cramer | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRivian CEO RJ Scaringe goes one-on-one with Jim CramerRivian CEO RJ Scaringe joins 'Mad Money' host Jim Cramer to talk the state of the EV transition in the U.S., investment in charging infrastructure, consumer adoption of EVs and more.
Persons: RJ Scaringe, Jim Cramer Locations: U.S
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCNBC Pro Talks: CIO Kingsley Jones shares how — and where — to invest in AI, EVs and more right nowKingsley Jones of boutique advisory firm Jevons Global specializes in investing in disruptive change. He shared some of his top picks and more with Pro Talks.
Persons: Kingsley Jones, Jevons Organizations: Pro
I'll describe how options traders will bet the bottom is in and the levels they may find attractive to do so. Tesla's margins of nearly 11% are twice those of the 2 biggest U.S. automakers, but a bear will point out that Porsche margins are 13%. Even still, it's not clear that the legacy automakers can compete long term with Tesla or China's BYD. Apple, Amazon, Costco, Lululemon, Nike, Yeti and Tesla are, if the actual dollars spent are measured, high on this list. TSLA YTD mountain Tesla YTD Sometimes, whether it's a fast car, or a fast-moving stock, the best thing to do is wait.
Persons: Gene Munster, it's, Tesla, Tesla's, it's Ford Organizations: Deepwater Management, Ford, GM, Toyota, U.S, Apple, Costco, Lululemon, Nike, Holly Locations:
Analyst Ronald Epstein downgraded the stock to neutral from buy and lowered his price target to $225 from $255. The new price target implies just 5% upside from Wednesday's close. Analyst Jed Kelly has an outperform rating and $44 price target on shares, implying 14.4% upside potential since Thursday's close. Analyst Wamsi Mohan reiterated his buy rating on the stock and raised his price target to $200 from $170. Analyst Michael Sison lowered his price target to $69 from $85, implying just 7.5% upside from Wednesday's close.
Persons: Hertz, Ronald Epstein, Epstein, — Hakyung Kim, Oppenheimer, Jed Kelly, Kelly, DraftKings, aren't, Wamsi Mohan, Mohan, JPMorgan's Brian Essex, David Vogt, Essex, Vogt, Wells, DuPont Wells, , Michael Sison, Sison, Kim, Downside, Tesla, Tesla's, Morgan Stanley's Adam Jonas, Jonas, Joseph Spak, inched, TSLA, Spak, Goldman Sachs, Mark Delaney, Dan Levy, Levy, Colin Langan, Langan, Toni Sacconaghi, Bernstein, JPMorgan downgrades, Ryan Brinkman, Fred Imbert Organizations: CNBC, Tesla, EV, Hertz, JPMorgan, Bank of America, Boeing, Alaska Airlines, of America, Federal Aviation Administration, FAA, IBM, UBS, PTI, bps, DuPont, DuPont de Nemours, Barclays, JPMorgan downgrades Hertz Locations: Alaska, Draftkings, Essex, Wednesday's, Wells Fargo, China, 2H24, Europe
It is the second letter that auto dealers have sent to the White House in two months on the EPA’s upcoming ruling, which could codify the agency's strictest-ever tailpipe emissions limits, proposed last April. The dealerships said Thursday that the Biden administration did not respond to their first letter sent on Nov. 28. Political Cartoons View All 253 ImagesThe EPA says its proposed regulations would require up to two out of every three vehicles sold in the U.S. to be electric by 2032. Most automakers around the globe have pledged hundreds of billions of dollars to transition to all-electric new vehicle sales in the coming decade as momentum to address climate change builds. Automakers can meet EPA regulations not just through pure-electric vehicle sales, but also through a sales mix including hybrid and plug-in hybrid electric vehicles.
Persons: Joe Biden, Biden, , Alexa St, John Organizations: DETROIT, White House, EPA, , Republicans, Traffic, Administration, Associated Press Locations: United, U.S, Press, ast.john@ap.org, AP.org
While EV sales are continuing to grow, they are doing so at a slower pace, research shows. Elon Musk warned a slowdown in sales growth was coming when Tesla reported earnings on Wednesday. The Warren Buffett-backed EV maker, which sells its vehicles in more than 60 countries and recently overtook Tesla on global EV sales, put an early focus on affordable models such as the $10,000 Seagull. EV sales surged 40% year-on-year in the last three months of 2023 —a "strong result by any measure," as the industry research noted. Aran Waid, senior analyst at Benchmark Mineral Intelligence, said growth in EV sales globally was continuing but that it had "fallen short of automaker expectations."
Persons: Tesla, , Elon Musk, Musk, China's BYD, Warren Buffett, BYD, Kelley, Aran Waid, Josh Lefkowitz, Mary Barra, Nora Naughton, Suzuki Organizations: EV, Service, Tesla, Getty Images, Benchmark Mineral Intelligence, Ford, General Motors, Hertz, BMW, Toyota, Honda, Nissan Locations: Europe, Japan
However, this person has been investing for more than 2 decades and sold a startup to a big tech company in the first dot-com boom. "The lesson of Microsoft Windows"Then this hedge funder schooled me on the "lesson of Microsoft Windows." He also pointed out that if you don't own a big platform, your life kinda sucks. AdvertisementThe biggest betsThis is why big tech companies are investing 100s of billions of dollars to find the next big platforms. Big Tech is all about winning our attention and being the first "funnel" that sends us out into the world.
Persons: Mark Zuckerberg, , Apple, Tesla, it's, Mark Gurman, I've, Matthew Ball, Zuckerberg, Ball, OpenAI, Nora Naughton, Elon Musk Organizations: Apple, Service, Apple's, Microsoft, Microsoft Windows, Android, Amazon, Google, Big Tech, Tesla, Software, GM, Ford, Meta Locations: American
Here’s what analysts are expecting from Tesla earnings
  + stars: | 2024-01-24 | by ( Pia Singh | ) www.cnbc.com   time to read: +5 min
Analysts are largely cautious on Tesla — and the broader autos industry — ahead of the electric vehicle company's earnings on Wednesday. TSLA 1Y mountain Tesla shares over the past year. "There is continually growing evidence that the global EV market is in an unfavorable balance of supply (growing) vs. demand (slowing)." The analyst rates Tesla stock a buy with a $260 price target. Higher units likely require more price cuts," analyst Joseph Spak forecasted about Tesla's earnings in a Jan. 15 note.
Persons: Tesla, outsized, John Murphy, Murphy, Wells, Colin Langan, Langan, Morgan Stanley Morgan Stanley, Adam Jonas, Jonas, Emmanuel Rosner, Rosner, Joseph Spak Organizations: Tesla, Bank of America, Deutsche Bank Deutsche Bank Research, UBS UBS, UBS Locations: China, Tuesday's, Downside, Wells Fargo, Europe
Apple is pivoting to a less ambitious design for its autonomous EV, Bloomberg reported. The tech giant is pivoting to a less complex design and delaying the launch date for its planned autonomous vehicle, Bloomberg reported, citing people familiar with the situation. Following board meetings, the company has limited the car's autonomous features and downgraded the EV to Level 2+ autonomy, Bloomberg reported. AdvertisementApple's EV release date has also been pushed back, with the company expecting a 2028 launch at the very earliest, the Bloomberg report said. Its most formidable competitors will likely be Tesla and China's BYD, both of which dominate the global EV market.
Persons: , Apple, Forbes, BYD Organizations: Apple, EV, Bloomberg, Service, Mercedes, Benz, Business, Reuters
As electric vehicle automakers like Tesla and BYD continue to make headlines, Goldman Sachs is watching the battery sector closely. Stocks with buy ratings Goldman's buy-rated stocks in the sector include South Korean companies LG Chem, Samsung SDI and LG Energy. It has a target price of 710,000 Korean Won ($530) on LG Chem and 800,000 Korean Won on Samsung SDI, representing potential upside of 81.6% and 123.2%, respectively. Meanwhile, It expects the price of LG Energy to hit 550,000 Korean Won in the next 12 months, representing 47.3% upside. The investment bank has a buy rating on the stock at 20.47 yuan ($2.84), giving it around 6.2% upside.
Persons: Goldman Sachs, Nikhil Bhandari, Goldman, — CNBC's Michael Bloom Organizations: EV, LG Chem, Samsung SDI, LG Energy, Won, U.S, Gotion High Tech, Mast, Recycling, Gotion, Tech Locations: EU, 2025E, South, Korean, United States, Switzerland
In this article TSLA Follow your favorite stocks CREATE FREE ACCOUNTBURBANK, CALIFORNIA - JANUARY 16: Tesla electric cars are parked at a Tesla dealership on January 16, 2024 in Burbank, California. Tesla CEO Elon Musk has long whetted fans' and investors' appetites for affordable electric vehicles and self-driving robotaxis that are expected to be made on next-generation, cheaper electric car platforms. Musk had first promised to build a $25,000 car in 2020, a plan he later shelved and then revived. watch nowMusk said in May that Tesla was working on two new products, with the potential for combined sales of 5 million vehicles a year. He and other Tesla executives laid out plans last March to halve the cost of its next-generation vehicles, but did not provide a timeframe for the launches.
Persons: Mario Tama, Tesla, Elon Musk, China's BYD, Musk, Walter Isaacson's Organizations: Getty Locations: BURBANK , CALIFORNIA, Burbank , California, U.S, United States
Certain stocks are poised to perform better under Republican or Democratic leadership this coming November, according to Strategas. On Wednesday night, former president Donald Trump clinched the victory in the New Hampshire primary over former South Carolina Gov. The win now means it's "highly likely" Trump will secure the Republication presidential nomination, according to Strategas analyst Daniel Clifton. US-China trade tensions are likely to continue regardless, but we see greater escalation under Trump," Clifton said. Other names that could outperform under Democratic leadership include renewable energy company NextEra Energy , automation provider Rockwell Automation and beverage company Constellation Brands .
Persons: there's, Donald Trump, Nikki Haley, Daniel Clifton ., Clifton, Trump, Biden, Kinder Morgan, Tesla, Joe, Morgan Stanley, Erik Woodring, — CNBC's Michael Bloom Organizations: Republican, Democratic, South Carolina Gov, Trump, L3Harris Technologies, JPMorgan, Democrat, Verizon Communications, GOP Congress, California's, Tesla, Biden, Apple, NextEra Energy, Rockwell Automation, Constellation Brands Locations: New Hampshire, L3Harris, Tuesday's, China, Clifton, U.S, LSEG
WASHINGTON (AP) — President Joe Biden on Wednesday vetoed a Republican measure that would have blocked a White House waiver that allows some foreign-made content in federally funded chargers for electric vehicles. The White House said the GOP plan would actually block made-in-America requirements, since it would revert U.S. policy to a 1980s rule that allows foreign content in U.S. manufacturing. The GOP bill "would eliminate the domestic manufacturing requirement for electric vehicle chargers, thereby harming domestic manufacturing and American jobs,'' Biden said in a veto statement. If enacted, the GOP resolution would revert U.S. policy to a 1983 rule that waives domestic requirements for many manufactured products. The Senate approved the measure, 50-48, i n November, despite a White House veto threat.
Persons: Joe Biden, Biden, Reagan, , Sen, Marco Rubio, Democratic Sens, Sherrod Brown of, Joe Manchin, Jon Tester, Kyrsten, Rubio Organizations: WASHINGTON, Wednesday, Republican, GOP, EV, Democratic, Biden, Associated Press, NORC, for Public Affairs Research, Energy, Institute, University of Chicago, America Locations: America, U.S, People’s Republic of China, China, United States, Florida, Sherrod Brown of Ohio, West Virginia, Montana, Arizona
Tesla may be stuck in "production purgatory" that could pressure the stock, according to Redburn Atlantic. The firm initiated coverage of the Elon Musk's EV maker on Wednesday with a sell rating and a $170 per share price target. EV sales began slowing in 2023 as consumers and businesses signaled caution toward going fully electric. The companies that will benefit most in the new EV landscape, the analyst added, will "iterate best-in-class EV platforms and scale desirable models to support high utilization at lower unit costs." Analysts polled by FactSet forecast 73 cents per share in earnings on revenue of $25.6 billion.
Persons: Adrian Yanoshik, Tesla, Yanoshik, Hertz Organizations: Elon Musk's, EV, Apple, Nvidia, Wall Street, FactSet
It indicates the ability to send an email. Electric-vehicle demand could hit a low later this year, Morgan Stanley saysA Tesla supercharger station at Burbank Town Center, in Burbank on Friday, Sept. 4, 2020 in Burbank, CA. Kent Nishimura /Getty ImagesMorgan Stanley has warned of an imbalance of EV supply and demand which could weigh on Tesla this year. "Looking ahead, are we approaching maximum market negativity on EVs? We believe the trough may happen towards the latter part of 2024," the bank said in a note, citing influences stemming from the EU Parliamentary and US presidential elections.
Persons: Morgan Stanley, Kent Nishimura, Hertz Organizations: Burbank Town Center, Getty, EU Parliamentary Locations: Burbank, Burbank , CA, China
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSouth Korea's 'leading stocks' will be related to semiconductors and EVs: Financial services firmDaniel Yoo, head of global asset allocation at Yuanta Securities, says "the [artificial intelligence] cycle is here to stay for at least … another two years."
Persons: Daniel Yoo Organizations: Yuanta Securities
Tesla CEO Elon Musk, whose company operates a large plant in China, has said Chinese automakers are the greatest competitors for his Texas-based company. "They were 26% [market share] a few years ago, up to more than 50% in 2022 and headed towards two-thirds by the end of the decade." Chinese companies have begun expanding into Mexico, Europe and elsewhere, Wakefield said. The EU believes Chinese EVs are undercutting the prices of local models by about 20% in the European market. The influx of Chinese EVs has spurred the European Union to launch into government support for the industry.
Persons: , Carlos Tavares, Elon Musk, Tesla, Musk, BYD, Massimo Pinca, Reuters BYD, Kristin Dziczek, Mathew Vachaparampil, Bernstein, Eunice Lee, Mark Wakefield, Evelyn Cheng, hasn't, Wakefield, That's Organizations: GM, Shanghai International Automobile Industry, National Exhibition, Convention Center, Visual China, Getty, DETROIT, American, of, SAIC, Dongfeng, General Motors, U.S . Bureau, Analysis, America —, Chrysler, America's GM, Ford Motor, automakers, The New York Times, Economist, Reuters, Federal Reserve Bank of Chicago's, Caresoft, Overseas, Chicago, CNBC, European Union, EU, Union, Volvo, Karma, Ford, U.S, Buick, Lincoln Nautilus Locations: Shanghai, U.S, of China, Asia, Europe, China, Japan, Nio, Mexico, Korea, Germany, Beijing, Texas, Turin, Italy, Federal Reserve Bank of Chicago's Detroit, AlixPartners, Russia, America
Morgan Stanley expects a conservative year-ahead outlook from Tesla when it reports earnings this week. Jonas points to German Tesla price cuts as a warning sign for the year ahead. Electric cars already have some of the worst resale values in the automotive industry, though Tesla leads this pack with the Model 3's residual value. "Any potential rollback of EV incentives would be an impediment for the pace of EV adoption," Jonas wrote. Slowing EV exports out of ChinaRelated to China's looming overcapacity issue, the country's government said this month it would rein in EV exports and crack down on "blind" production of electric cars.
Persons: Tesla, Morgan Stanley, , Elon Musk, Adam Jonas, Jonas, Price, EVs, Biden, Donald Trump Organizations: Service, Tesla, EV, Hertz, Biden Administration Locations: Berlin, China, EVs
Panasonic puts productivity boost ahead of new EV plant in U.S.
  + stars: | 2024-01-22 | by ( ) www.cnbc.com   time to read: +3 min
The Panasonic Energy Co. headquarters in Moriguchi, Osaka Prefecture, Japan, on Thursday, Jan. 11, 2024. The battery unit, Panasonic Energy, had previously said it aimed to decide on building the factory by the end of March. Panasonic Energy has a plant in Nevada and has broken ground on a second one in Kansas. The unit expects the Kansas plant to take its annual auto battery capacity to 80 gigawatt hours, or GWh, a year. Given the human resources requirements of a new plant, Kusumi said it was generally better to have fewer production sites.
Persons: Kentaro Takahashi, Yuki Kusumi, Kusumi Organizations: Panasonic Energy Co, Panasonic, EV, Bloomberg, Getty, Panasonic Energy, EVs, General Motors, Ford, U.S Locations: Moriguchi, Osaka Prefecture, Japan, North America, Tokyo, United States, Nevada, Kansas, Oklahoma, Europe
CNBC's Jim Cramer on Monday suggested Tesla could lose its spot in the "Magnificent Seven" megacap stocks list. If Tesla falls out of favor, he said he thinks pharmaceutical giant Eli Lilly is a solid contender to take the company's place. The other members of the Magnificent Seven include Apple , Amazon , Alphabet , Meta , Nvidia and Microsoft . "We're ready no matter what, but to ignore the decline of Tesla or the advance of Eli Lilly is to reject the facts," Cramer said. At nearly $600 billion, Eli Lilly leads the pharmaceutical industry in terms of market capitalization.
Persons: CNBC's Jim Cramer, Tesla, Eli Lilly, Cramer, FactSet, there's, Hertz, Ken Langone, Lilly Organizations: Big Tech, Apple, Nvidia, Microsoft, EV, General Motors, Honda Motor Locations: U.S
CEO Carlos Tavares says the company's new large platform is flexible enough to handle batteries and electric motors, gas-electric hybrids and internal combustion engines. The company can also build midsize to large vehicles on those underpinnings, including sedans, crossover vehicles, SUVs and even off-road Jeeps. Electric vehicle sales growth is already slowing in many countries with consumers balking at the added cost as well as limited range and too few charging stations. On Friday, Ford said it was cutting production of the F-150 Lightning electric pickup after weaker-than-expected electric vehicle sales growth. A midsize vehicle platform announced by the company last year has similar flexibility, the company said.
Persons: , Carlos Tavares, Tavares, EVs, balking, Ford, Donald Trump, Stellantis, Alfa Romeo, Maserati, " Tavares, It's Organizations: Service, Business, EVs, Dodge, Chrysler, Alfa Locations: U.S, North America
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