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☆ Swedish EV maker Polestar's deliveries rise 50% in Q3
▼ + stars: | 2023-10-05 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Victoria Klesty/File Photo Acquire Licensing RightsCompanies Polestar Automotive Holding Uk Plc FollowOct 5 (Reuters) - Polestar Automotive Holding's deliveries of electric vehicles (EV) rose 50% in the third quarter from a year earlier, sending its shares up about 3% in premarket trading. The Swedish EV maker, however, reported a quarterly decline of 12% in deliveries to 13,900 units, compared with the second quarter, as high borrowing costs dent global demand for new vehicles. Globally, EV sales grew 49% to 6.2 million units in the first half of the year, a report by data analytics firm Canalys Research showed. Polestar Automotive, which is scheduled to announce its third-quarter results on Nov. 8, reiterated its tempered delivery forecast of 60,000-70,000 vehicles for the full year. The company expects to start deliveries of the Polestar 4 compact luxury crossover in China in the current quarter.

Persons: Arsheeya, Shweta Agarwal Organizations: REUTERS, Polestar Automotive, EV, Research, Polestar, Thomson Locations: Oslo, Norway, Victoria, Swedish, China, Bengaluru

☆ EV maker Rivian beats Q3 delivery estimates after raising production
▼ + stars: | 2023-10-02 | by ( ) www.reuters.com time to read: +2 min

A Rivian R1T electric truck is seen outside Munro & Associates headquarters in Auburn Hills, Michigan, U.S., June 3, 2022. REUTERS/Rebecca Cook/File Photo Acquire Licensing RightsSAN FRANCISCO, Oct 2 (Reuters) - Electric-vehicle maker Rivian Automotive (RIVN.O) on Monday reported third-quarter deliveries above analysts' estimates, as it ramped up production to meet a sustained demand for its pickup trucks and sport-utility vehicles (SUVs). Rivian, which makes R1T pickup trucks and R1S SUVs, delivered 15,564 vehicles in the quarter ended Sept. 30, compared with Visible Alpha estimates of 14,740 vehicles and up 23% from the second quarter. It produced 16,304 vehicles at its facility in Normal, Illinois, up from 13,992 in the second quarter. That means Rivian has to make just more than 12,300 vehicles in the current quarter to hit its full-year target.

Persons: Rebecca Cook, Tesla, Rivian, Abhirup Roy, Zaheer Kachwala, Arun Koyyur Organizations: Munro & Associates, REUTERS, FRANCISCO, Rivian, Cox Automotive, U.S, EV, Canalys Research, Thomson Locations: Auburn Hills , Michigan, U.S, The Irvine , California, Normal , Illinois, San Francisco, Bengaluru

Tesla vehicles are seen for sale at a Tesla facility in Fremont, California, U.S., May 23, 2023. Shares of the EV maker reversed course to rise marginally after dropping nearly 3% following the news of the delivery miss. Tesla has also been cutting prices aggressively to counter the effect of a slowing EV market, while fending off competition from upstarts and legacy players. Meanwhile, electric-pickup maker Rivian Automotive (RIVN.O) reported third-quarter deliveries above analysts' estimates and reaffirmed its annual production target of 52,000 vehicles. Deliveries of Tesla's premium vehicles, Model S and Model X, rose to about 16,000 units in the third quarter.

Persons: Carlos Barria, Tesla, Thomas Martin, Reuters Graphics Tesla, Ashwin Amberkar, Aditya Soni, Akash Sriram, Arun Koyyur, Anil D'Silva 私 Organizations: REUTERS, Ford, Globalt Investments, Reuters Graphics, Rivian, US, Canalys Research Locations: Fremont , California, U.S, China, United States, Bengaluru

☆ Apple launches faster M2 chips, powerful laptops in rare January launch
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: +2 min

Jan 17 (Reuters) - Apple Inc (AAPL.O) on Tuesday unveiled MacBooks powered by its new M2 Pro and M2 Max chips, in a surprise announcement weeks ahead of its traditional launch event. The Mac mini starts at $599, cheaper than the latest iPhone 14 series, and is available from Jan. 24. MacBook Pro 14-inch and 16-inch with the latest chips start at $1,999, compared with the $1,299 price tag of a 13-inch model fitted with the M2 chip. The M2 Pro has nearly 20% more transistors than the M1 Pro and double the amount in M2, helping programs like Adobe Photoshop run heavy workloads "faster than ever", Apple said. The company traditionally has four launch events in a year, with the first spring event scheduled in March, when Apple launches its iMacs and accessories.

☆ Wall Street sees little respite to Qualcomm's smartphone gloom
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: +2 min

Nov 3 (Reuters) - Sales at Qualcomm Inc are slowing as the smartphone market heads for its worst contraction in years, and Wall Street analysts don't expect that to turn around anytime soon. The company's dour holiday-quarter outlook underscores the rapid decline in the smartphone market, as strict COVID-19 restrictions sap demand in top market China and a global surge in inflation weighs on consumer spending elsewhere. The chipmaker now expects a low-double-digit percentage decline in handset sales volumes this year, compared with its prior forecast for a mid-single-digit percentage drop. "Qualcomm's smartphone business is more positioned in the mid-range ... and the mid-range is currently the most impacted segment in the smartphone market," said Canalys research analyst Runar Bjørhovd. Reporting by Chavi Mehta and Aditya Soni in Bengaluru; editing by Milla NissiOur Standards: The Thomson Reuters Trust Principles.

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