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☆ Wolfe Research downgrades Tesla, says SVB failure adds to automaker's macro pressures
▼ + stars: | 2023-03-13 | by ( Hakyung Kim | ) www.cnbc.com time to read: +1 min

Analyst Rod Lache downgraded Tesla shares to peer perform from outperform. Tesla has cut prices in recent months to stoke sales, raising concern among some analysts that profits could be under pressure going forward. Now, the company could be hurt by the Silicon Valley Bank failure, Lache said. Silicon Valley Bank failed Friday. Tesla shares were down 0.5% on Monday before the bell.

But production is running at least a third below plan, keeping the Ariya from shipping to new customers, according to three of the people and production planning notes reviewed by Reuters. Implementation has proved "an extremely, extremely high challenge" and the advanced paint line has become a persistent headache, one of the people said. In a statement to Reuters, Nissan said Ariya production had faced challenges including supply of semiconductors, disruptions in components shipments and the factory's paint line. EVs accounted for just 4.5% of Nissan's global sales of 3.2 million vehicles in 2022. Output over the next two months is expected to fall short of that, according to production planning notes from last month reviewed by Reuters.

☆ Ford's new tech will let electric cars show off with smoky, four-wheel burnouts
▼ + stars: | 2023-03-10 | by ( Tim Levin | ) www.businessinsider.com time to read: +2 min

Ford hopes to patent a feature that would let its electric cars do burnouts with their front and rear wheels. That's an engineer's way of saying the tech will enable electric cars to peel out in an epic cloud of smoke. Gas-powered muscle cars and sports cars can already do burnouts by locking their front wheels and smashing the gas to spin the rears. What's special about Ford's tech is it'll let electric vehicle owners spin up the back wheels and the fronts in quick succession. A patent diagram showing a Ford electric SUV doing a burnout with its front wheels.

☆ This week's top performers include General Electric and two semiconductor makers
▼ + stars: | 2023-03-10 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

General Electric has jumped 42.9% this year, more than recovering form last year's 11.3% drop. Roughly three-fifths of analysts covering the stock rate it a buy, with the average price target implying a 12.5% gain over the next 12 months. On Monday, On entered into a long-term supply agreement with BMW to support technology in the automaker's next generation of electric vehicles. Just under three-fifths of analysts rate the stock a buy, with the average analyst's price target showing shares should rise 9.6% in the next year. The stock is liked by about three-fifths of analysts covering it, and the average price target implies upside of 11.6%.

☆ Rubio takes aim at planned Ford US battery plant using Chinese technology
▼ + stars: | 2023-03-09 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

Senator Marco Rubio on Thursday introduced legislation that takes aim at Ford Motor's (F.N) deal to use technology from Chinese battery company CATL (300750.SZ) as part of the automaker's plan to spend $3.5 billion to build a battery plant in Michigan. Rubio, the top Republican on the Intelligence Committee, introduced legislation that would block tax credits for electric vehicle batteries produced using Chinese technology, saying it would "significantly restrict the eligibility of IRA tax credits and prevent Chinese companies from benefiting." Last month, Rubio asked the Biden administration to review Ford's deal to use technology from CATL. Rubio called for an immediate Committee on Foreign Investment in the United States (CFIUS) review of the licensing agreement between Ford and CATL. The $430 billion IRA imposes restrictions on battery sourcing and is designed to wean the United States off the Chinese supply chain for electric vehicles (EVs).

☆ S&P cuts Nissan credit rating to junk status
▼ + stars: | 2023-03-07 | by ( ) www.reuters.com time to read: +1 min

TOKYO, March 7 (Reuters) - Nissan Motor Co Ltd's (7201.T) credit rating was cut to junk status by S&P Global Ratings on Tuesday, which said the Japanese automaker's earnings will remain weaker than previously assumed, given the prospect of another tough year in 2023. S&P slashed Nissan's rating by one notch to BB+ from BBB-, it said in a statement, a move that placed it below investment grade. "Performance at the company has been sluggish for more than three years," the rating agency said in the statement, adding that the impact of global supply chain disruptions in key automotive components will likely continue in 2023. "Also, in the second half of the year, we expect softening demand for new car sales in the U.S. and Europe will pressure sales prices," it said. Reporting by Daniel Leussink, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

☆ Ford taps masses of vehicle data to stay ahead in commercial van market
▼ + stars: | 2023-03-06 | by ( Nick Carey | ) www.reuters.com time to read: +5 min

Ford, which leads the commercial vehicle market in both Europe and the United States, launched the system in 2021. Hans Schep, European head of Ford Pro, the company's commercial vehicle business, said it is already close to hitting long-term targets of increasing vehicle "up time" by up to 60%. Ford recently announced engineering job cuts in Europe, but is still hiring software experts for its data services. Data is a huge battleground for commercial vehicle makers and competition will only intensify with electric models, which are essentially computers on wheels. Starting with 2024 models, GM will provide a range of OnStar data services free for fleet vehicles.

☆ Tesla cuts U.S. Model S and Model X prices between 4% and 9%
▼ + stars: | 2023-03-06 | by ( ) www.reuters.com time to read: +2 min

The Model S and Model X, which come in base all-wheel drive (AWD) and performance "Plaid" editions, represented about 4% of Tesla's global deliveries in 2022. Tesla's website showed it had cut prices on both versions of its Model S by $5,000. The basic version of Model S was cut by 5% to $89,990, while the price of the performance, Plaid variant was cut by 4% to $109,990. Prices of both the performance and basic variants of Model X cars were cut by $10,000, the electric vehicle maker's website showed. The price of the basic, AWD version of the Model X was cut by 9% to $99,990 while its performance Plaid version was cut by 8% to $109,990.

[1/2] Honda CEO Toshihiro Mibe speaks in this handout picture taken in Marysville, Ohio, U.S., March 1, 2023. HONDA/Handout via REUTERSMARYSVILLE, Ohio, March 3 (Reuters) - Honda Motor Co (7267.T) is moving rapidly to catch up with electric-vehicle competitors in global markets, but the company's top executive said combustion engines could last through 2040 and beyond. Regarding the Japanese automaker's accelerating transition to EVs, Chief Executive Toshihiro Mibe said, “I’ve been in the engine development business for more than 30 years, so personally it’s a little threatening. Before then, Honda in 2024 will get two new electric SUVs, the Honda Prologue and the Acura ZDX, from GM’s Spring Hills factory in Tennessee. Reporting by Paul Lienert in Marysville, Ohio Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

LONDON, March 3 (Reuters) - The race for electric vehicle (EV) battery metals is heating up. Carmakers have already been busy tying up supplies of battery metals under direct off-take agreements with existing metals producers. Automakers' collective move into the mining sector has so far largely prioritised the lithium sector, where Western companies have been playing catch-up with Chinese investors. Lithium supply is struggling to scale up at the speed required to meet accelerating demand from battery-makers. Capital expenditure in the sector slumped, miners opting to return cash to shareholders rather than dig more big copper mines.

☆ Here are Friday's biggest analyst calls: Apple, Tesla, Alphabet, Kroger, Meta, Silvergate, UPS & more
▼ + stars: | 2023-03-03 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are Friday's biggest calls on Wall Street: Morgan Stanley reiterates Apple as a top pick Morgan Stanley said it sees a "catalyst rich event path" for the tech giant. Morgan Stanley names Alphabet, Amazon and Meta top AI picks Morgan Stanley named Alphabet, Amazon and Alphabet as top picks and said AI is at an inflection point. Barclays reiterates Alphabet as overweight Barclays said it's standing by its overweight rating on the stock but sees it range-bound for the foreseeable future. Morgan Stanley reiterates Eaton as a top pick Morgan Stanley said it sees several cyclical growth drivers for the multination power management company. Morgan Stanley names Eli Lilly as a catalyst driven idea Morgan Stanley named Eli Lilly as a catalyst driven idea, saying that the stock "levered" to a likely positive outcome from upcoming obesity drug trials.

☆ Tesla shares slide 6% after Elon Musk fails to meet hopes for a budget EV model at underwhelming investor day
▼ + stars: | 2023-03-02 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +3 min

Tesla shares slid 6% in premarket Thursday after the EV maker fell short on details at its investor day. CEO Elon Musk was tight-lipped on details about new models after hopes built for a $25,000 car. Tesla said it plans to cut production costs in half to reach its goal of selling 20 million EVs a year by 2030. Before the investor day, Reuters reported Tesla is planning a revamp of its Model Y, code-named Project Juniper, which would begin production in 2024. During the presentation, Tesla laid out broad plans aimed at making it the world's largest car company.

☆ Ford's February sales jump 22% from subdued results in 2022
▼ + stars: | 2023-03-02 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

DETROIT – Ford Motor's February sales increased by more than 20% from subdued results a year earlier, as the automaker ratchets up production of its F-Series pickups and electric vehicles. Ford's sales were hampered by supply chain problems in February 2022 making for one of its worst months since 2021. Sales of Ford's F-Series pickups increased 22% last month compared to a year earlier, increasing to about 55,000 units, including 3,600 units of its electric F-150 Lightning. So far this year, sales of F-Series pickups are up 15%. Ford's electric vehicle sales continue to increase, up 88% from a year earlier.

☆ Ford plans to restart production of the electric F-150 Lightning on March 13
▼ + stars: | 2023-03-02 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

DETROIT – Ford Motor plans to restart production of its electric F-150 Lightning pickup on March 13 – more than a month after a battery issue caused one of the vehicles to catch fire. The F-150 Lightning is being closely watched by investors, as it's the first mainstream electric pickup truck on the market and a major launch for Ford. The battery issue adds to ongoing "execution issues" detailed to investors last month by Ford CEO Jim Farley that crippled the automaker's fourth-quarter earnings. Ford initially opened customer reservations for the F-150 Lightning when it was revealed in May 2021. More than 200,000 reservations were placed prior to Ford temporarily closing the process to attempt to align production with expected demand.

☆ Polestar cuts annual losses in half as it ramps up EV production
▼ + stars: | 2023-03-02 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

Swedish electric vehicle maker Polestar cut its annual net losses in half last year, while revenue surged and it attempted to set itself apart from other EV startups. The company on Thursday reported an 84% increase in revenue for 2022 to roughly $2.5 billion as it exceeded a 50,000-vehicle delivery target. The majority of that increase will come from an updated Polestar 2 EV, according to Ingenlath. The company is releasing two new EVs this year – Polestar 3 and Polestar 4 – that are expected to hit their production strides in 2024. Polestar's relatively positive results come after other EV startups like Lucid , Nikola and Rivian reported ongoing problems with supply chains and production, causing them to miss production or sales targets.

☆ Here are Thursday's biggest analyst calls: Apple, Tesla, Snowflake, Salesforce, Nio, Nvidia & more
▼ + stars: | 2023-03-02 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

JPMorgan downgrades Nio to neutral from overweight JPMorgan said it sees too many challenges after the Nio's earnings report on Wednesday. JPMorgan downgrades Dollar Tree to neutral from overweight JPMorgan said it sees too many macro headwinds for the discount retailer. Morgan Stanley upgrades Pinduoduo to overweight from equal weight Morgan Stanley said the ag-tech company is a "long-term growth story." Morgan Stanley reiterates Liberty Formula One as overweight Morgan Stanley said it's bullish on shares of the auto racing company. Morgan Stanley reiterates Tesla as overweight Morgan Stanley said competitors can't keep up after Tesla's investor day on Wednesday.

☆ Tesla's investor day showed it is 'one generation ahead' of rival automakers in EV race, former Ford CEO says
▼ + stars: | 2023-03-02 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Former Ford CEO Mark Fields saw Tesla's investor day as reaffirming the automaker's reign over the EV industry. Though the event lacked details on new models, it demonstrated the company's leadership in key areas, he told CNBC. The keys to winning the EV race will come down to product appeal, software or user interface, controlling cost, and consistent execution, he said. "And Tesla right now is one generation ahead of the other automakers," Fields said, though rivals like Ford and Hyundai are making a lot of progress. However, Fields predicted that the EV industry will eventually have no one leader as the market continues to strengthen.

☆ Stellantis seeks 'solution' for shuttered Illinois Jeep plant, CEO says
▼ + stars: | 2023-02-28 | by ( ) www.reuters.com time to read: +2 min

"We need to find a solution for the fact that the technology that has been decided is 40% more expensive" than combustion vehicles, Tavares told reporters during a videoconference. As Stellantis shifts its product mix toward electric vehicles, "the way to do business in the U.S. is going to change," Tavares said. "You get a more affordable proposition than the BEV," he said, referring to battery electric vehicles. Tavares said battery technology "has not stabilized." Raw materials needed for today's batteries could change as battery technology changes, he said.

☆ Here's our Annual Meeting update on 9 consumer names in the Club portfolio
▼ + stars: | 2023-02-27 | by ( Paulina Likos | ) www.cnbc.com time to read: +8 min

Here's an update on our consumer discretionary and consumer staples stocks in Jim Cramer's Charitable Trust, the 35 holdings that make up the CNBC Investing Club's portfolio. TJX Companies (TJX): TJX is a winner in a slower economy as shoppers love the treasure-hunting experience for cost-saving deals. If their stores have excess inventory, that could serve as a catalyst for TJX stock to go higher. Constellation Brands (STZ): Consumer demand for Constellation's premium alcoholic beverages is strong even as inflation weighs on consumers since people continue to drink beer in an economic slowdown. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Ford suspends electric F-150 Lightning production for another week following battery fire
▼ + stars: | 2023-02-24 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

DETROIT — Ford Motor is suspending production of its electric F-150 Lightning pickup for another week following a battery issue that resulted in one of the vehicles catching fire early this month. "The teams worked quickly to identify the root cause of the issue," Ford said in a statement Friday. Ford last week said it expected Lightning production to be down through at least this week, as engineers determined the root cause of the battery issue and implemented improvements to the manufacturing process. The F-150 Lightning is being closely watched by investors, as it's the first mainstream electric pickup truck on the market and a major launch for Ford. The battery issue adds to ongoing "execution issues" detailed to investors earlier this month by Ford CEO Jim Farley that crippled the automaker's fourth-quarter earnings.

One of the plants where children worked, SMART Alabama LLC in rural Luverne, Alabama, is a direct Hyundai subsidiary. STATE AND FEDERAL INVESTIGATIONSFollowing Reuters' first story on child labor at SMART last July, as many as 10 Hyundai suppliers in Alabama have been under investigation by state or federal authorities for child labor violations, Reuters reported in December. In the shareholder letter, Chang reiterated that Hyundai was "discouraging" suppliers from relying on such staffing agencies in the future. He wrote that staffing firms who hired children to work at Hyundai supplier plants had provided false employee documentation. Earlier this month, thirty-three members of Congress urged DOL to seek strong and swift penalties against those responsible for child labor in the Hyundai supply chain.

☆ Factbox: Company reaction to the U.S. Inflation Reduction Act
▼ + stars: | 2023-02-23 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Fabian Bimmer/File PhotoFeb 22 (Reuters) - Companies across North America and Europe have in recent months cheered the Biden Administration's $430 billion U.S. Inflation Reduction Act (IRA) that includes major provisions to cut carbon emission, boost domestic production and manufacturing. Holcim AG (HOLN.S)The world's biggest cement maker expects the IRA to provide a strong momentum for its business in North America. This month, it agreed to buy U.S. roofing systems manufacturer Duro-Last in a $1.29 billion deal, its latest move to bolster presence in North America. Linde (LIN.N),The gas giant has estimated the total investment opportunity for the company in the United States alone could exceed $30 billion over the next decade. BMW (BMWG.DE)The company plans to produce at least six fully electric models in its plant in South Carolina by 2030.

☆ There's no base of talent anywhere like the Bay Area: Calif. Gov. Gavin Newsom on Tesla's return to state
▼ + stars: | 2023-02-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere's no base of talent anywhere like the Bay Area: Calif. Gov. Gavin Newsom on Tesla's return to stateIn an exclusive interview, California Governor Gavin Newsom sits down with CNBC's Yasmin Khorram at Tesla's offices in Palo Alto, California. Newsom met with Elon Musk and Tesla employees to tour the automaker's new engineering headquarters. The expansion will focus on hiring engineers proficient in research development and artificial intelligence. The plans will help accelerate efforts to produce autonomous driving and robot technology.

☆ Wall Street's most overbought stocks include General Motors and a pharma stock
▼ + stars: | 2023-02-19 | by ( Hakyung Kim | ) www.cnbc.com time to read: +4 min

There's a Wall Street momentum indicator that can help investors filter out the most overbought, and oversold, stocks. A stock is considered overbought if its 14-day RSI goes above 70. CNBC Pro screened for the 10 most overbought stocks in the S & P 500. Catalent was one of the most overbought stocks in the S & P 500. GWW YTD mountain GWW in 2023 General Motors made our list of overbought stocks as well, with a 14-day RSI of 76.25.

☆ Traditional automakers have one huge leg up on EV startups: A nationwide network of shops ready to service cars
▼ + stars: | 2023-02-16 | by ( Alexa St. John | ) www.businessinsider.com time to read: +6 min

But today's EV startups don't operate that way. When in need of service, car buyers typically utilize the massive dealership network automakers like Ford, GM, Toyota and others have, or choose to take their vehicle elsewhere. Unlike Tesla, today's EV startups can't afford to tick their owners off with waits or make prospective buyers worry about repairs and service. The right-to-repair movement is also going to be significant for EV startups moving forward. "It comes down to how confident a given consumer feels when going with an electric vehicle from a new EV brand versus a traditional car from a traditional car company," Brauer said.

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