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☆ Op-ed: Why the world needs more oil, not less
▼ + stars: | 2023-08-30 | by ( His Excellency Haitham Al Ghais | Opec Secretary General | ) www.cnbc.com time to read: +3 min

If oil vanished today, these and many other vital products and services that use oil or its derivatives would vanish too. The World Energy Report for 2022, published by the UK-based Energy Institute and consulting firms KPMG and Kearney, noted that fossil fuels constituted 82% of global energy in 2022. This is comparable to OPEC's latest world oil outlook and represents a similar level to 30 years ago. The bottom line is that it is possible to invest heavily in renewables while continuing to produce the oil the world needs today and in the coming decades. Similarly, in the EU, vehicles using petrol or diesel still accounted for around half of all car sales in 2022.

Persons: BEV, BEVS Organizations: Transportation, Energy, Energy Institute, KPMG, Kearney, Toyota Prius, U.S . National Automobile Dealers Association, EU Locations: U.S, China, Paris

☆ AI, EVs and more: Goldman names 5 'compelling' stocks to play major themes — giving one 60% upside
▼ + stars: | 2023-08-25 | by ( Lucy Handley | ) www.cnbc.com time to read: +3 min

Analysts at Goldman Sachs named five stocks to play themes including artificial intelligence, electric vehicles and energy-efficiency, with two on its conviction list: Mercedes-Benz and Daikin Industries . The bank gave Mercedes' stock an estimated 48% upside to its 12-month price target. Goldman gave the stock an estimated 30% upside to its 12-month price target. The bank gave the stock an estimated 54% upside to its 12-month price target. Darling Ingredients , a feedstock and renewable diesel company in the United States, has a 60% upside to Goldman's 12-month price target, the bank said.

Persons: Goldman Sachs, Mercedes, TSMC, Goldman, firm's, Joe Biden's, — CNBC's Michael Bloom, Emma Newburger Organizations: Goldman, Benz, Daikin Industries, ICE, Mercedes, Taiwan Semiconductor Manufacturing Locations: United States, North America, Dutch

☆ CNBC Daily Open: With such high yields, why buy stocks?
▼ + stars: | 2023-08-23 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +5 min

Nathan Howard | Bloomberg | Getty ImagesThis report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. That's called the equity risk premium, a return that's supposed to compensate stock investors for the chance that they might lose money. Another potential issue that could crop up with high Treasury yields is that it could make the Federal Reserve's job tougher. It wasn't a surprise, then, that stock markets fell Tuesday.

Persons: Nathan Howard, Tesla, Anwar Ibrahim, CNBC's Martin Soong, That's, yield's, Rupert Thompson, Cash, Bob Pisani, it's, Torsten Slok, Adam Turnquist, Ed Yardeni Organizations: Treasury, Bloomberg, Getty, CNBC, Nasdaq, Japan's Nikkei, Malaysia, country's, Vehicle Global, Analysts, International Atomic Energy Agency, Kingswood Group, Dow Jones Industrial, Nvidia, LPL, Yardeni Locations: Washington , DC, Asia, Pacific, Shanghai, Malaysia, California, China, Tokyo

☆ Malaysia eyes more investments to enlarge EV footprint after landmark Tesla deal
▼ + stars: | 2023-08-23 | by ( Clement Tan | ) www.cnbc.com time to read: +5 min

Tesla's groundbreaking move with Malaysia is a boost to Southeast Asia's place in the EV supply chain and the first deal under the country's Battery Electric Vehicle Global Leaders initiative. There are also plans for Tesla to embark on EV battery manufacturing in Malaysia. Anwar said Malaysia is open to more EV investments, including from Chinese automakers. Tesla Inc. signage during a launch of company's Model Y electric vehicle in Kuala Lumpur, Malaysia, on Thursday, July 20, 2023. Building readinessStill, Anwar was hesitant to say a full electric vehicle assembly line is in the pipeline.

Persons: Tesla, Anwar Ibrahim, CNBC's Martin Soong, Anwar, Elon Organizations: country's, Vehicle Global, U.S, EV, Bumiputeras, CNBC, Tesla Inc, Bloomberg, Getty, IT, Zhejiang, Infineon Technologies, Proton Locations: Malaysia, Southeast Asia, Putrajaya, Kuala Lumpur, China, Shanghai, Selangor, Malay, Tanjong Malim, Perak, Kedah, Geely

That is by far the most ever spent on clean energy in a year. Solar and Wind Power Have Taken Off Electricity generation per year, in terawatt hours China 600 TWh 500 Solar Wind U.S. China 400 E.U. It would shred regulations designed to curb greenhouse gases, dismantle nearly every federal clean energy program and boost the production of fossil fuels. 1 2 3 4 5 Even Tulsa, with its strong links to oil and gas, is embracing clean energy. “But we also understand that energy is energy, whether it is generated by wind, steam or whatever it might be.”Around the country, clean energy is taking root in unlikely locales.

Persons: ”, Fatih Birol, Al Gore, Crews, Francis Energy, Dewey, Bartlett Jr, “, J.W, Peters, Mr, Lazard, Gregory Nemet, —, Biden, Tesla, Giovanni Bertolino, Jon Creyts, Steve Uerling’s, Uerling, Cathy Zoi, It’s, Mary Barra, ’, Barra Organizations: Buses, Port, International Energy Agency, India India, Energy, The New York Times, Heritage Foundation, Republican, Ford, University of Tulsa’s School of Petroleum Engineering, “ Oil, Drillers, Navistar, Public Service Company of Oklahoma, Francis, Solar Power, U.S . Steel, Gas, University of Wisconsin -, Panasonic, United, European Union, United States ’, General Motors, RMI, Ford Fusion, Tesla, Postal Service, Amazon, Peterbilt, Companies, Francis Energy, BMW Group, Honda, Hyundai, Kia, Benz Group Locations: Pittsburgh, Milwaukee, Port of Los Angeles, Houston, Europe, United States, America, China, Britain, terawatt, India, U.S, States, Beijing, London, Tokyo, Washington, Oslo, Dubai, Tulsa, Okla, Italian, Oklahoma, Oklahoma City, Texas, Galveston, In Arkansas, Republican, University of Wisconsin - Madison, Georgia, Korean, Nevada, tailpipes, California, New York, San Francisco, Canada, South Korea, Russia, Ukraine, Steve Uerling’s Tulsa, E.U, G.M

☆ Indonesia says Mitsubishi Motors plans to invest $375 mln in 2024
▼ + stars: | 2023-08-09 | by ( ) www.reuters.com time to read: +2 min

A man walks near Mitsubishi cars as he visits Tokyo Motor Show in Tokyo, Japan October 24, 2019. "We are optimistic that, if implemented, this can boost investment and increase demand to use EVs," Agus said. A Mitsubishi spokesperson said executives from its Tokyo headquarters on Wednesday met with Agus for talks, declining to comment further. Mitsubishi reported combined retail and wholesale sales in the ASEAN region of 120,000 vehicles for the three months to June 30, dropping 1.6% from a year earlier. In Thailand, its retail and wholesale sales slumped to 17,000 units during that period, down from 25,000 a year earlier.

Persons: Soe Zeya, Agus Gumiwang Kartasasmita, Agus, Bernadette Christina, Fransiska, Rocky Swift, Daniel Leussink, Louise Heavens, David Evans Organizations: Mitsubishi, Tokyo Motor, REUTERS, Mitsubishi Motors, Wednesday, Japan's Nikkei, Guangzhou Automobile Group, Thomson Locations: Tokyo, Japan, JAKARTA, Indonesia, Thailand, China, ASEAN, Jakarta

☆ Vietnam's EV ownership will see 'strong growth' in 2023, says new report
▼ + stars: | 2023-08-07 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

Vietnam's electric vehicle market appears poised for rapid expansion in the next decade, but there could be significant headwinds blunting that growth. According to BMI Research, a Fitch Solutions research unit, passenger EV sales in the country is expected to at least double this year. "In 2023, we expect passenger EV sales to expand by 114.8% year-on-year to reach around 18,000 units," said BMI's report published Thursday. Specifically, sales for battery electric vehicle (BEV) could surge by 104.4% compared to the previous year to nearly 17,000 units, the report said. The penetration rate for passenger EVs — defined as passenger EV sales as a percentage of the country's total passenger vehicle sales — is set to increase to 13.6% by 2030.

Persons: BEV Organizations: BMI Research, Fitch Solutions, Vietnam Automobile Manufacturers Association, Electric Locations: Vietnam, That's

☆ Nikola CEO is leaving the company after just 18 months
▼ + stars: | 2023-08-04 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +2 min

New York CNN —The president and chief executive of Nikola, the Arizona-based electric and hydrogen semi truck manufacturer, is leaving the company effective immediately, the company announced Friday. Michael Lohscheller is leaving the company so that he can return to Europe to focus on a family health emergency, the company said. Lohscheller’s predecessor, Mark Russell, also stayed in the CEO role for less than 18 months, meaning Girsky is the company’s fourth CEO in as many years. He became president of Nikola in March 2022, and took over the CEO role in November of last year. During his time as president and CEO, Nikola focused its business more tightly on the US market.

Persons: Nikola, Michael Lohscheller, Stephen Girsky, Mark Russell, Trevor Milton, Milton, Nikola’s, Lohscheller hadn’t, Lohscheller, Loscheller, ” Organizations: New, New York CNN, General Motors, Prosecutors, Volkswagen Group, Volkswagen USA, Nikola, VinFast Locations: New York, Arizona, Europe, Nikola, United States

☆ How EVs are upending the 100-year-old auto supply chain
▼ + stars: | 2023-07-31 | by ( Robert Ferris | In | ) www.cnbc.com time to read: +1 min

Companies that make parts for internal combustion engines are facing a harsh future. Revenues for internal combustion engines, as well as fuel and exhaust systems, are expected to decline 44% through 2027, according to the 2023 Deloitte Automotive Supplier Study. While the supply chain is shifting away from parts, the total powertrain part supply pie is also shrinking. While automakers bring more of their supply chain in-house, there are thousands of parts in cars that come from companies all over the world — a branching supply chain of firms each dependent on the success of the others. Bigger firms are either spinning out their internal combustion divisions or just winding them down to pivot toward EVs.

Persons: Tesla Organizations: Battery, Bosch

☆ Burning car carrier towed to temporary location off Dutch coast
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +1 min

AMSTERDAM, July 31 (Reuters) - A burning car carrier off the Dutch coast has been towed to a new location away from shipping lanes as part of an operation to salvage the ship, the Dutch public works and water management ministry and local media said on Monday. The freighter, which was travelling from Germany to Egypt when the blaze broke out on July 26, was towed to a location north of the Dutch islands Ameland and Schiermonnikoog, the Rijkswaterstaat ministry said in a statement. A Rijkswaterstaat spokeswoman told the Dutch ANP press agency that at the new temporary location, the ship would be further removed from shipping routes and more sheltered from wind. Dutch Coastguard/Handout via REUTERSThe relocation is an intermediate step in the difficult salvage operation, the spokeswoman said. The company declined to say anything about the car brands, including whether they included any cars from Japanese manufacturers.

Persons: Shoei, Charlotte Van Campenhout, Robert Birsel, Mark Heinrich Our Organizations: Panamanian, Fremantle Highway, Dutch ANP, Dutch Coastguard, Ship, Thomson Locations: AMSTERDAM, Germany, Egypt, Dutch, Netherlands

☆ Burning car carrier off Dutch coast being towed away from shipping lanes
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +2 min

AMSTERDAM, July 31 (Reuters) - A burning car carrier off the Dutch coast is being towed to a new location away from shipping routes as part of a difficult operation to salvage the ship, the Dutch water board Rijkswaterstaat and media said. The ship will be towed to a location 16 km north of the Dutch islands Ameland and Schiermonnikoog, Rijkswaterstaat said in a statement on Sunday. A Rijkswaterstaat spokeswoman told to the ANP Dutch press agency that at the temporary location, the ship would be further away from shipping routes and slightly out of the wind. The relocation is an intermediate step in the difficult salvage operation, the spokeswoman said. The company declined to say anything about the car brands, including whether it included any cars from Japanese manufacturers.

Persons: Rijkswaterstaat, Shoei, Charlotte Van Campenhout, Robert Birsel Organizations: Panamanian, Fremantle Highway, ANP Dutch, Ship, Thomson Locations: AMSTERDAM, Germany, Egypt

☆ Toyota's global sales rise 5.1% to 4.9 mln in first half of 2023
▼ + stars: | 2023-07-28 | by ( ) www.reuters.com time to read: +1 min

The company sold some 4.9 million vehicles globally in the six months through June, including of its luxury Lexus brand, compared with about 4.7 million vehicles during the same period in 2022. Toyota's sales in Japan jumped 33.2% to 878,215 units in the period versus a year earlier, while U.S. sales slipped 0.7% to just over 1 million vehicles and those in Asia declined half a percent to about 1.5 million units. Global sales of hybrid electric vehicles grew 37.6% year-on-year to 292,131 units, accounting for just under a third of the total number of vehicles sold worldwide last month. In June, Toyota sold 10,191 battery electric vehicles worldwide, including its Lexus brand, with about 5,000 of those sold in China. That brought the total number of battery-powered vehicles sold in the first half of 2023 to 46,171 units.

Persons: Daniel Leussink, Jacqueline Wong, Christopher Cushing Organizations: Toyota Motor Corp, Toyota Motor, Lexus, Global, Toyota, Thomson Locations: Japan, Asia, United States, Europe, China

☆ Carrier ablaze off Dutch coast carrying almost 500 electric cars
▼ + stars: | 2023-07-28 | by ( ) www.reuters.com time to read: +2 min

AMSTERDAM, July 28 (Reuters) - The car carrier burning off the Dutch coast since Tuesday night is carrying nearly 500 electric vehicles, ship charter company "K" Line said on Friday, significantly more than the 25 initially reported by the coastguard. There were 3,783 vehicles on board, including 498 battery electric vehicles, a Tokyo-based spokesperson for K Line (Kawasaki Kisen Kaisha), which had chartered the vessel, said. He declined to say anything about the car brands, including whether or not it included any cars from Japanese manufacturers. An investigation has been launched by the Panama Maritime Authority and the Netherlands is assisting the inquiry, the Dutch Safety Board has said. The 199-metre (653 ft) Fremantle, which is still burning, is drifting about 17 km from the northernmost Dutch coast, the coastguard said.

Persons: Miranda Murry, Daniel Leussink, Marine Strauss, Anthony Deutsch, Tassilo Hummel, Philippa Fletcher Organizations: coastguard, Panamanian, Fremantle Highway, K Line, Kawasaki, RTL, Panama Maritime Authority, Dutch Safety, Fremantle, Thomson Locations: AMSTERDAM, Tokyo, Dutch, Netherlands, Germany, Egypt, Wadden, Denmark

☆ Fire on car carrier ablaze off Dutch coast now less intense
▼ + stars: | 2023-07-28 | by ( ) www.reuters.com time to read: +2 min

AMSTERDAM, July 28 (Reuters) - The fire which has been burning on a car carrier off the Dutch coast has lessened in intensity and salvagers have been able to board the ship to secure stronger tow lines, authorities said on Friday. Smoke rises as a fire broke out on the cargo ship Fremantle Highway, at sea on July 26, 2023. The Dutch coastguard said on its website on Thursday that the cause of the fire was unknown, but an emergency responder is heard in a recording released by Dutch broadcaster RTL saying, "The fire started in the battery of an electric car". An investigation has been launched by the Panama Maritime Authority and the Netherlands is assisting the inquiry, the Dutch Safety Board has said. The 199-metre (653-ft) Fremantle is drifting about 17 km from the northernmost Dutch coast, the coastguard said.

Persons: Miranda Murry, Daniel Leussink, Geert De Clercq, Marine Strauss, Anthony Deutsch, Tassilo Hummel, Philippa Fletcher, Leslie Adler Organizations: Panamanian, Fremantle Highway, Fremantle, Ship, Coastguard, REUTERS, K Line, Kawasaki, Dutch coastguard, RTL, Panama Maritime Authority, Dutch Safety, coastguard, Thomson Locations: AMSTERDAM, Coastguard Netherlands, Dutch, Netherlands, Fremantle, Germany, Egypt, Wadden, Denmark

☆ A marathon, not a sprint: Mercedes-Benz CEO outlines challenges in shift to EVs
▼ + stars: | 2023-07-28 | by ( Anmar Frangoul | ) www.cnbc.com time to read: +2 min

The shift to zero-emission mobility should be viewed as a marathon not a sprint, according to the CEO of Germany's Mercedes-Benz. His comments came as the Mercedes-Benz Group reported earnings for the second quarter this week. "We have a whole host of our, so to speak, first generation electric vehicles on the market now," Kallenius told CNBC Thursday. "So we are bullish on electric vehicles and zero emission driving and we're putting billions into it," he added. "In this case, our production network is flexible to produce both high-tech electrified combustion engines and electric vehicles," he added.

Persons: Germany's Mercedes, Ola Kallenius, CNBC's Annette Weisbach, Kallenius, Mercedes, Benz's EVs Organizations: Benz, Benz Group, CNBC

☆ Jeep, Dodge maker Stellantis posts first-half revenue jump, confirms 2023 guidance
▼ + stars: | 2023-07-26 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

Carmaker Stellantis on Wednesday posted a 12% year-on-year jump in net revenues and 37% spike in net profit for the first half of 2023, boosted by higher shipments. The manufacturer of Jeep, Dodge, Peugeot and other brands recorded second-quarter net revenues of 98.4 billion euros ($108.8 billion) and a net profit of 10.9 billion euros. The company confirmed its 2023 guidance while raising its growth outlook in Europe and the Middle East & Africa from 5% to 7%. Global battery electric vehicle (BEV) and low emission vehicle (LEV) sales were up 24% and 28% year-on-year to 169,000 units and 315,000 units, respectively. "It takes a united effort and open mindset across all our employees to embark on our no-compromise transformation journey while protecting the Company from external challenges."

Persons: Carmaker Stellantis, BEV, Stellantis, Carlos Tavares Organizations: Dodge, Peugeot, Fiat Chrysler, France's PSA Group, Global Locations: Europe, East, Africa, American

☆ Stellantis, Samsung SDI set plan to build second US battery plant
▼ + stars: | 2023-07-24 | by ( ) www.reuters.com time to read: +3 min

Stellantis said the second U.S. battery plant will be the sixth to support the company's goals. "The second plant will accelerate our market penetration into the U.S.," Samsung SDI CEO Yoon-ho Choi said in the statement. In May 2022, Stellantis and Samsung SDI said they would invest more than $2.5 billion to build their first joint battery plant, to open in the first quarter of 2025 in Kokomo, Indiana. Stellantis is also building a joint-venture battery plant in Windsor, Ontario, in Canada with South Korea's LG Energy Solution (373220.KS). Samsung SDI shares extended gains after Monday's announcement, rising to as much as 4.1% versus a 0.8% increase in the benchmark KOSPI (.KS11).

Persons: Carlos Tavares, Stellantis, Ram, Alfa Romeo, Yoon, Choi, Ben Klayman, Heekyong Yang, Christopher Cushing Organizations: Samsung SDI, North, Peugeot, Jeep, Citroen, Opel, Samsung, South Korea's LG Energy, General Motors, United Auto Workers union, Stellantis, GM, Ford, Thomson Locations: Korean, U.S, Europe, Kokomo , Indiana, Indiana, Windsor , Ontario, Canada, Detroit, Seoul

☆ New EV battery plant fuels labor tensions as UAW strike looms deadline
▼ + stars: | 2023-07-24 | by ( Chris Isidore | ) edition.cnn.com time to read: +6 min

New York CNN —Stellantis and Samsung SDI announced plans Monday for another EV battery plant joint venture to open in 2027. Four major EV battery plants have opened in recent years and 19 more are planned with Monday’s announcement, according to the UAW. An aerial view of the Stellantis and Samsung Battery Plant construction site in Kokomo, Indiana. Those talks will have to be focused on the wages and benefits for the current UAW members. By comparison, UAW members with top seniority at a Big Three factory get $32.32 an hour, plus an annual bonus and profit sharing.

Persons: New York CNN — Stellantis, Shawn Fain, Stellantis, BEV, Kent Nishimura, ”, it’s, Fain, He’s, “, ” Stellantis Organizations: New, New York CNN, Samsung SDI, United Auto Workers, Stellantis, Jeep, Dodge, Chrysler, General Motors, Ford, UAW, don’t, GM, Fiat Chrysler, PSA Group, Peugeot, Opel, Vauxhall, Samsung Battery, Los Angeles Times, Samsung, Big, LG, SK, CNN, ICE Locations: New York, United States, Europe, Kokomo , Indiana, Warren Ohio, Korean, Kokomo

☆ Stellantis and Samsung SDI set plan to build second U.S. battery plant
▼ + stars: | 2023-07-24 | by ( ) www.cnbc.com time to read: +1 min

French-Italian automaker Stellantis and South Korean battery maker Samsung SDI on Monday said they plan to open a second joint-venture plant in the U.S. to build electric vehicle batteries, with a target to start production in 2027. The companies said the transaction still needs to be finalized, and where the plant will be located is under review. Also, how much will be invested at the site and how many people it will employ will be announced later. In 2021, Stellantis said it planned to pump $35 billion into EV production and software globally through 2025. Stellantis said the second U.S. battery plant will be the sixth to support the company's goals.

Persons: Carlos Tavares, Stellantis, Ram, Alfa Romeo Organizations: FCA, Technology Center, Stellantis, Samsung SDI, North, Peugeot, Jeep, Citroen, Opel Locations: Stellantis, Auburn Hills , Michigan, Korean, U.S, Europe

☆ Opinion | A Climate Hawk’s Issues With Electric Vehicles
▼ + stars: | 2023-07-14 | by ( Peter Coy | ) www.nytimes.com time to read: +1 min

I get why the Biden administration is pushing electric vehicles so hard. To stop the planet from overheating, we’ll eventually need motor vehicles to produce zero greenhouse gas emissions, and only fully electric vehicles can do that. Hybrids, which have combustion engines along with electric motors, will always puff some carbon dioxide (and other bad stuff) out of their tailpipes. By Toyota’s calculation, the amount of rocks needed for one long-range electric vehicle would be enough for either six plug-in hybrids or 90 of the type of hybrid that can’t be plugged in for a recharge. “The overall carbon reduction of those 90 hybrids over their lifetimes is 37 times as much as a single battery electric vehicle,” Toyota argues.

Persons: Biden, there’s, Toyota, That’s Organizations: Toyota

☆ Goldman picks a raft of discounted global stocks — and gives two more than 100% upside
▼ + stars: | 2023-07-12 | by ( Lucy Handley | ) www.cnbc.com time to read: +2 min

Analysts at Goldman Sachs have picked a number of global stocks it says are trading at a discount — and said two of its picks could rise more than 100% over the next 12 months. The analysts picked telecommunications company BT Group , giving it an estimated 130% potential upside in the next year. Goldman also gave Lloyds Bank potential upside of 78%, and said South African technology group Naspers could rise by 71% over 12 months. 'Upside risks' The stocks all appear on Goldman's list called "value buys with earnings upside potential." The bank gave Intesta Sanpaolo a 58% potential upside to its 12-month price target.

Persons: Goldman Sachs, John Sawtell, Goldman, Andrew Lee, Sanpaolo, Chris Hallam, — CNBC's Michael Bloom Organizations: Goldman, BT Group, BT, Natwest, Deutsche Bank, Lloyds Bank, Porsche Locations: African

☆ US state attorneys general clash over EPA emissions plan
▼ + stars: | 2023-07-06 | by ( David Shepardson | ) www.reuters.com time to read: +4 min

The Environmental Protection Agency in April proposed new 2027-2032 vehicle standards that would be the most dramatic reductions in history. The EPA estimates that to meet the new standards, automakers would need to have 60% of new production be electric vehicles by 2030 and 67% by 2032. The rules would cut emissions by 56% from existing 2026 requirements to speed the transition away from gasoline-powered engines to electric vehicles. Democratic attorneys general from New York, California, Pennsylvania, Illinois and other states said the EPA should go further. Many Republican state attorneys general have sued the EPA over its 2021 restoration of the Obama-era standards that were rolled back under Republican former President Donald Trump.

Persons: Andrew Kelly, Joe Biden's, Kentucky's Daniel Cameron, Patrick Morrisey, Obama, Donald Trump, EVs, David Shepardson, Jonathan Oatis, Leslie Adler, David Gregorio Our Organizations: United States Environmental Protection Agency, Washington , D.C, REUTERS, WASHINGTON, Republican, Democratic, Environmental Protection Agency, EPA, District of Columbia, West, American Lung Association, American Medical Association, Alliance, Automotive Innovation, General Motors, Volkswagen, Toyota, Hyundai, American Petroleum Institute, Mazda, Ford, Thomson Locations: Washington ,, New York , California , Pennsylvania, Illinois, Chicago , New York, Los Angeles

☆ Republican attorneys general urge Biden to drop EPA emissions plan
▼ + stars: | 2023-07-06 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

[1/3] Signage is seen at the headquarters of the United States Environmental Protection Agency (EPA) in Washington, D.C., U.S., May 10, 2021. The Environmental Protection Agency in April proposed new 2027-2032 vehicle standards that would cut emissions by 56% versus existing 2026 requirements. Many Republican state attorneys general have sued the EPA over its 2021 restoration of the Obama-era standards that were rolled back under Republican former President Donald Trump. The group called the proposal a "de facto battery electric vehicle mandate" and noted that EVs represented about 6% of new light-duty vehicles sales in 2022. Mazda (7261.T) said separately that it was worried about the "exceptional stringency" of the rule, while Ford Motor (F.N) said the EPA should "avoid setting criteria emissions requirements that will force unnecessarily large or ill-timed investments."

Persons: Andrew Kelly, Biden, Kentucky's Daniel Cameron, Patrick Morrisey, Obama, Donald Trump, EVs, David Shepardson, Jonathan Oatis, Leslie Adler Organizations: United States Environmental Protection Agency, Washington , D.C, REUTERS, WASHINGTON, Republican, Environmental Protection Agency, EPA, West, Alliance, Automotive Innovation, General Motors, Volkswagen, Toyota, Hyundai, American Lung Association, American Medical Association, Mazda, Ford, Thomson Locations: Washington ,

☆ These global and U.S. stocks are set to soar further after a strong first half, analysts say
▼ + stars: | 2023-07-04 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

Among global stocks, Japan was the top performer, with shares up over 16% year-to-date at the mid-year, according to data compiled by Julius Baer, while European stocks gained 7.47%. All of the stocks have a buy rating from at least 60% of analysts covering them. They are also well-loved by analysts, with a more-than 70% buy rating and over 30% potential upside. Baidu also appears on CNBC Pro's screen, with 32% potential upside and a 74% buy rating. Super Hi, the international operator of the wildly popular Chinese hotpot chain Haidilao, also has among the highest potential upside at 51%.

Persons: Julius Baer, Buffett, Morgan Stanley, bullish Organizations: CNBC Pro, Chrysler, Baidu, CNBC, Warner Bros Discovery, MGM Resorts, Caesars Entertainment Locations: Japan, China, Swiss

☆ Chinese EV maker Xpeng's shares jump after pricing SUV below Tesla Model Y, lifts peers
▼ + stars: | 2023-06-30 | by ( ) www.reuters.com time to read: +2 min

June 30 (Reuters) - Electric-car maker Xpeng Inc priced its latest G6 sport utility vehicle about 20% lower than Tesla's (TSLA.O) Model Y in China, sending its U.S.-listed shares up 7.6% in premarket trading on Friday. U.S.-listed shares of its peers Li Auto and Nio also rose 0.3% and 2.2%, respectively, in trading before the bell. Xpeng is pinning hopes on the new SUV to help turnaround its sales, after the company reported lackluster deliveries in May. The price of Xpeng G6 starts at 209,900 yuan ($28,882.01), compared with Tesla Model Y's starting price of 263,900 yuan in China. Beijing's 520 billion yuan tax break for new energy vehicle purchases is also expected to boost demand.

Persons: Li Auto, Warren Buffett, Tesla, BEV, Chavi Mehta, Brenda Goh, Krishna Chandra Organizations: Xpeng Inc, HK, Tesla's, Tesla, Citigroup, Refinitiv, Thomson Locations: China, U.S, Bengaluru

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