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☆ India's Tata Motors in talks to raise $1 bln via stake sale in EV business - Report
▼ + stars: | 2023-02-23 | by ( ) www.reuters.com time to read: +2 min

The company plans to sell a significant minority stake, the newspaper report added, eyeing a valuation of about $10.5 billion. The funds and investors include the UAE-based Abu Dhabi Investment Authority (ADIA) and Mubadala Investment Company, the Saudi Arabia-headquartered Public Investment Fund, Singapore's Temasek Holdings, and KKR and General Atlantic. Tata Motors and some of the companies did not immediately respond to Reuters' request for comment. Tata Motors plans to use the bulk of the proceeds to retire a part of its outstanding debt and infuse a small portion as primary equity in the EV business, the report said. Tata Motors has outlined plans to expand its electric car portfolio with new models and higher price points.

☆ Ford to move forward with $3.5 billion EV battery plant with Chinese company
▼ + stars: | 2023-02-13 | by ( Michael Wayland | ) www.cnbc.com time to read: +6 min

DETROIT – Ford Motor said Monday it will collaborate with a Chinese supplier on a new $3.5 billion battery plant for electric vehicles in Michigan, despite tensions between the U.S. and China. Glenn Youngkin saying he was withdrawing the state from a competitive process to attract the planned Ford plant over its connection to the Chinese company. The new batteries are expected to offer different benefits at a lower cost, assisting Ford in increasing EV production and profit margins. With this $3.5 billion investment, Ford says it and its battery partners have announced $17.6 billion in investments in electric vehicle and battery production in the United States since 2019. Gretchen Whitmer called the investment a "big win" for the state, which has moved to attract more battery production after missing out on previous multibillion investments.

☆ BorgWarner sees EV business to grow at least 72% in 2023
▼ + stars: | 2023-02-09 | by ( ) www.reuters.com time to read: +1 min

Feb 9 (Reuters) - BorgWarner Inc (BWA.N) said on Thursday it expects sales from its electric vehicle (EV) business to grow at least 72% in 2023 as the U.S. auto supplier increasingly shifts its focus toward EV makers. The company's sales were at $4.1 billion, compared with estimates of $3.90 billion. On an adjusted basis, the company's net income was $1.26 per share, compared with estimates of $1.08 per share. The Michigan-based company also expects net sales in the range of $16.7 billion to $17.5 billion for 2023, compared with estimates of $16.82 billion. It forecast adjusted net earnings of $4.50 to $5.00 per diluted share, compared with expectations of $4.92 per share.

☆ Electric vehicle stocks roar back to life in 2023 — Wall Street's favorite plays from here
▼ + stars: | 2023-02-08 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

The average analyst price target calls for at least a 10% gain in the next 12 months, per FactSet. It also has 82% upside to the average analyst price target. Rivian Automotive has a whopping 90% upside to the average analyst price target. Lastly, General Motors has nearly 15% upside to the average analyst price target, with 54% of analysts covering the Cadillac maker rating it a buy. While a majority of the analysts covering the stock rate it a buy, the average price target implies 1% downside.

☆ Nissan to buy up to 15% stake in Renault EV unit under reshaped alliance
▼ + stars: | 2023-02-06 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Mike BlakePARIS, Feb 6 (Reuters) - Nissan (7201.T) and Renault (RENA.PA) on Monday unveiled details of their redesigned alliance, with the Japanese car maker committing to buy a stake of up to 15% in Renault's electric vehicles unit Ampere. The alliance junior partner Mitsubishi Motors (7211.T) will also consider investing in Ampere, the companies said in a statement. Renault will transfer 28.4% of Nissan shares into a French trust, making the two more equal partners in the alliance. Sources close to the matter said the agreement aimed to make the alliance freer and more balanced for the next 15 years. When it does sell, "Nissan would benefit from a right of first offer, to its or the benefit of a designated third party."

☆ Tesla or Ford? Analysts name their favorite stock as the EV race heats up
▼ + stars: | 2023-02-06 | by ( Weizhen Tan | ) www.cnbc.com time to read: +4 min

Ford's EV sales – currently at 3.6% of its monthly total sales – have been a major focus of Wall Street. Amid talk of an EV pricing war , who will win: Tesla, or Ford? Ford Bank of America in a Jan. 30 note called both Ford and Tesla's decision to cut prices "odd." Tesla Most analysts seem to be more optimistic on Tesla at present. For Tesla, analysts have an average price target upside of 1.8%, and 65% have a buy rating on the stock.

☆ Tech stocks lead market rally as last year's winners sink — listen to the 'Homestretch'
▼ + stars: | 2023-02-02 | by ( ) www.cnbc.com time to read: +7 min

WE HIT IT IN THE MORNING MEETINGAND TECH AND THE NASDAQ IS ONFIRE RIGHT NOW. THE STOCKS STARTED TO RALLY WHENHE SAID THAT DISINFLATIONARYPROCESS HAS BEGUN. AND WE ARE GOING TO BE PICKINGUP THE STOCKS AS THEY CONTINUETO GO OUT OF FAVOR, AND THENCATERPILLAR OF COURSE I TOUCHEDON. A LOT THAT ARE DOWN HEAVY TODAYAND OUT OF FAVOR, LOOK FOR US TOPOTENTIALLY PICK UP SOME OFTHESE. INTO THE WEAKNESS, I LIKE TO BUYTHE STOCKS OUT OF FAVOR, BECAUSEYOU GET SOME NICE MOVES WHENEVERYBODY RETURNS BACK TO THEM.

☆ Brewing EV Pricing War Could Be Great for Car-Buyers
▼ + stars: | 2023-02-01 | by ( Alexa St. John | ) www.businessinsider.com time to read: +4 min

A pricing battle could accelerate EV adoption, but automakers will have to sacrifice profits. Today's pricing war (coupled with new federal EV tax credits) could boost demand, helping automakers to boost volume, further helping with cost. The problem lies in profitabilityBut Tesla and Ford's price cuts mean they'll deprioritize profitability for the time being, and that worries industry analysts. "The current EV price cuts appear to defy logic… This will make the unprofitable low-return EV business that much more challenging until massive scale is achieved." "We view the price war as being good for consumers and it should help with overall EV sales and adoption," Nelson said.

☆ Morning Bid: Breathe in
▼ + stars: | 2023-01-30 | by ( ) www.reuters.com time to read: +2 min

A look at the day ahead in European and global markets from Tom WestbrookMarkets are holding their breath for a week where central banks may start to take divergent paths. read moreWall Street's "fear index" - the VIX volatility index - on Friday fell below 18.0 for the first time in over a year, and perhaps a little under the radar, U.S. bond market volatility is now its lowest since last June. In Asia, markets slipped slightly, U.S. futures fell 0.4% and currency trade was eerily calm. The Nikkei newspaper reported Renault (RENA.PA) was to lower its share holding in Nissan (7201.T) to 15%, while the latter would invest in Renault's EV business. Things have not gone well for investors in other firms Hindenburg has targeted.

☆ Taiwan's Foxconn taps former Nissan and Nidec heavyweight Seki for EV business
▼ + stars: | 2023-01-30 | by ( ) www.reuters.com time to read: +1 min

[1/2] Nissan Motor executive officer and vice-COO Jun Seki speaks during a news conference at Nissan Motor headquarters in Yokohama, Japan, December 2, 2019. Seki had been recruited to Nidec from Nissan by Nidec's hard-driving founder Shigenobu Nagamori in 2020 to help Nidec become a major player in components for next-generation automobiles. Seki spent three decades at Nissan, including a stint heading its China business. He was widely seen as a contender for chief executive, but was passed over for the current chief, Makoto Uchida. He left Nissan for Nidec not long after being charged with leading the automaker's turnaround plan.

Renault and Nissan declined to comment. The two sides have been in intensive negotiations since October when Renault CEO Luca De Meo went to Japan to meet Nissan CEO Makoto Uchida. Renault is looking for Nissan to invest in an electric-vehicle business it will carve out of its operations, while Nissan wants Renault to sell most its roughly 43% stake in Nissan to put the 23-year alliance on a more equal footing, Reuters has previously reported. The details of Renault's proposed protections for Nissan technology were not immediately known. Nissan holds 15% of Renault and does not hold voting rights.

☆ Tata considers India, Europe for EV cell manufacturing plants
▼ + stars: | 2023-01-12 | by ( Aditi Shah | ) www.reuters.com time to read: +2 min

GREATER NOIDA, India, Jan 12 (Reuters) - Tata group is considering setting up plants in India and Europe to produce battery cells for electric vehicles (EV), the chief financial officer of its auto unit told Reuters in an interview. With total sales of 50,000 electric cars to date, India's Tata Motors dominates the country's EV market and has outlined plans to launch 10 electric models by March 2026. The company expects electric models to make up a quarter of its total sales by 2025 from around 8% now. Localising cell manufacturing for EV batteries is key to increasing local components in electric cars and will help the automaker develop a local supply chain too, Tata Motors' P.B. Balaji said the investment in cell manufacturing will be made by its parent company Tata Sons but did not elaborate on the quantum or timeline.

Following Thursday's trade, Jim Cramer's Charitable Trust will own 6,500 shares of F, increasing its weighting in the portfolio to 2.63% from 2.44%. We are putting some cash to work Thursday, consistent with our discipline of buying in small increments whenever the market becomes oversold, according to the S & P Oscillator. The S & P Oscillator is a technical indicator that has guided us through oversold- and overbought conditions in the market countless times over the years. When the Oscillator moves below minus 4%, it signals oversold conditions in the market, which could mean it's due for a bounce. Of course, the Oscillator could become more oversold from here and the market could continue to drop.

☆ 2022 was the year automakers figured out how to make electric cars really work
▼ + stars: | 2022-12-28 | by ( Alexa St. John | ) www.businessinsider.com time to read: +6 min

It was the year the industry (and other stakeholders) figured out how to make electric cars actually work. Here's a look at what made 2022 so important for the EV space — and why 2023 and beyond will likely be even more significant. Momentum this year showed the EV space just what it needed in terms of charging. But in 2022, EVs accounted for 5% of US new-car sales — what some called a tipping point. But the legacy auto companies weren't exempt from some of these challenges, and some of those problems trickled down to customers.

☆ ‘The reshoring craze is real’ — These companies should benefit, experts say
▼ + stars: | 2022-12-23 | by ( Michelle Fox | ) www.cnbc.com time to read: +6 min

A lot has been said about reshoring, as companies look to bring manufacturing back to their home countries, particularly the U.S. Reshoring is essentially companies returning operations to their original country from overseas. "The reshoring craze is real, especially as you continue to hear more and more about this general theme of deglobalization," he said. "They sell into the construction of the factory, they sell into the equipment of the factory, the automation of the factory." The company's equipment is needed for big semiconductor manufacturing plants as companies test chips as they are produced, Snyder said.

☆ A Warren Buffet-backed Tesla competitor is making a dent in Elon Musk's EV empire
▼ + stars: | 2022-12-08 | by ( Tim Levin | ) www.businessinsider.com time to read: +3 min

China's BYD is quickly gaining on Tesla, the world leader in electric car sales. This year, it kicked combustion-engine cars to the curb and has grown its EV business at an explosive pace. In 2021, the Warren Buffet-backed carmaker shipped some 320,000 pure electric vehicles (not including the plug-in hybrid vehicles that still make up much of BYD's sales). BYD's epic rise comes amid signs that Tesla is losing steam in China, the world's biggest market for electric cars. Some industry watchers like Michael Dunne, founder of the EV industry consultancy ZoZoGo, think BYD is primed to become the EV sales leader and dethrone Tesla.

☆ Renault and Nissan forgo Dec. 7 announcement of new deal -JNN
▼ + stars: | 2022-12-03 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Dec 3 (Reuters) - Automakers Renault and Nissan are set to forgo an announcement on Dec. 7 of a new deal on their restructured alliance as they struggle to bridge their differences, Japanese TV network JNN reported on Friday. Renault is looking to Nissan to invest in its EV business, while Nissan is seeking the sale of part of Renault's 43% stake in Nissan to put the two partners on a more equal footing. The two parties decided to forgo an announcement on Dec. 7 as they had not reached an agreement as of Friday on how to share intellectual property, JNN said. Neither Renault nor Nissan immediately responded to a request for comment. Reuters previously reported that both parties had raised Dec. 7 as a possible date for an announcement of the new alliance structure.

☆ 5 things automakers and car shoppers are getting wrong about electric vehicles, according to GM's president
▼ + stars: | 2022-12-02 | by ( Nora Naughton | Alexa St. John | ) www.businessinsider.com time to read: +5 min

GM is looking to position itself as a leader in electric vehicles, putting billions of dollars toward electrifying its fleet and promising a future without fossil-fuel emissions. Companies need hybrids to bridge the gap to full EVsSome automakers have been making the transition to electric lineups with a pit stop: hybrids. Toyota, for example, has invested in hybrids in addition to electric products and has faced skepticism from the industry as a result. "We're not going to dilute our investment with hybrids," Reuss said, adding that the automaker expects its EV business to be profitable by 2025. The charging experience and the driving experience are one and the sameReuss said it can be frustrating to see drivers rate vehicles based on the charging experience alone.

☆ Electric vehicle makers burning cash, slammed by sky-high costs
▼ + stars: | 2022-11-14 | by ( Akash Sriram | ) www.reuters.com time to read: +5 min

[1/2] A Canoo Lifestyle Vehicle is displayed during the 2021 LA Auto Show in Los Angeles, California, U.S. November, 17, 2021. Quarterly reports from electric vehicle (EV) makers from the past two weeks show them struggling to hit delivery targets and rapidly burning through cash. At the end of September, it had $6.8 million in cash and equivalents, down sharply from $415 million a year earlier. Still, higher output would ultimately reduce the cost per car and limiting production can threaten the path to profitability, analysts said. Rivian, backed by Amazon.com (AMZN.O) and Ford Motor (F.N), had $13.8 billion cash on hand at the end of September.

☆ Analysis: Separation anxiety over Renault's five-way split
▼ + stars: | 2022-11-10 | by ( Gilles Guillaume | ) www.reuters.com time to read: +5 min

The main plank of the strategy is the separation of its combustion engine business from its electric vehicle (EV) operation. ELECTRIC PUSHAn early mover in electric cars, Renault has fallen behind newer, more agile rivals such as Tesla (TSLA.O). By teaming up its new businesses with the best available partners, "Renault hopes to win medals in those different sports instead of remaining at an average level in all five", he said. "This contrasts with what some other automakers have said, notably Volkswagen (VOWG_p.DE), Mercedes (MBGn.DE), and Stellantis (STLA.MI), who do not believe in (electric vehicle) business separations," he said. Reporting by Gilles Guillaume Writing by Nick Carey Editing by Silvia Aloisi and David GoodmanOur Standards: The Thomson Reuters Trust Principles.

☆ What Ford Might Learn From Renault
▼ + stars: | 2022-11-09 | by ( Stephen Wilmot | ) www.wsj.com time to read: 1 min

Renault ’s plan for an electric-vehicle spinoff tends to get more attention, but the French auto maker’s internal-combustion-engine carve-out might generate more shareholder value in the foreseeable future. It is a case study in corporate transition worth watching as Ford moves tentatively down a similar road. On Tuesday, Renault gave a full account of a radical restructuring it has had in the works for months. And it is creating a new ICE powertrain company in partnership with Chinese automotive investor Geely. Between these two extremes lie Renault’s core businesses of manufacturing and financing traditional vehicles in Europe and emerging markets, which it will wholly own within a new reporting structure.

☆ Renault to Pair Up With China’s Geely in Combustion-Engine Venture
▼ + stars: | 2022-11-08 | by ( Nick Kostov | ) www.wsj.com time to read: 1 min

PARIS—France’s Renault SA and China’s Geely Automobile Holdings Ltd. are forming a joint venture focused on gasoline-powered engines and hybrid technology, the latest example of auto makers sharing the burden of development costs as the industry grapples with the transition toward electric vehicles. Renault announced the deal Tuesday as it detailed plans to split itself into several divisions, including the combustion-engine-focused venture with Geely and another on electric vehicles and software, which it plans to spin off as soon as next year. It said it was in talks with longtime alliance partner Nissan Motor Co. about the Japanese company investing in the EV business, though didn’t provide a time frame for reaching an agreement.

☆ A Foxconn Tesla? Taiwan tech giant targets 5% of EV manufacturing by 2025
▼ + stars: | 2022-10-18 | by ( Sarah Wu | ) www.reuters.com time to read: +3 min

Foxconn Chairman Liu Young-way poses on stage with an electric vehicle, the Model C, during the company's annual Tech Day in Taipei, Taiwan, October 18, 2022. Register now for FREE unlimited access to Reuters.com Register"I hope one day we can do Tesla cars for Tesla." Foxconn is leveraging its "48-year-old roots in ICT manufacturing" to halve EV design times and slash development costs by a third, Liu said. "Despite the challenges of conflict in Europe and COVID globally, Foxconn has maintained our EV strategy," Liu said. "Our heartfelt hope is that Taiwan can seize this once-in-a-hundred years, rare EV business opportunity," Liu said.

☆ Taiwan's Foxconn wants customers to sell 'a lot' of EVs
▼ + stars: | 2022-10-18 | by ( Sarah Wu | ) www.reuters.com time to read: +2 min

The ambition lines up with Taiwan-based Foxconn's (2317.TW) plans to ramp up EV business to help diversify away from its role of assembling consumer gadgets like iPhones for Apple Inc (AAPL.O) and other tech firms. Register now for FREE unlimited access to Reuters.com Register"Foxconn is not in the business of selling its own EV brand. But, yes, we want our customers to sell a lot of EVs," Liu said in pre-recorded remarks. "Our heartfelt hope is that Taiwan can seize this once-in-a-hundred years, rare EV business opportunity." "Despite the challenges of conflict in Europe and COVID globally, Foxconn has maintained our EV strategy," Liu said.

☆ Automakers' need for EV tech has flipped a long-standing power dynamic — and these 18 battery outfits are reaping the benefits
▼ + stars: | 2022-10-05 | by ( Alexa St. John | ) www.businessinsider.com time to read: +2 min

The battery business is booming amid massive electric-vehicle plans across the auto industry. Car companies need more battery makers, chemistry firms, recyclers, and more. Once car companies started making their more-than $515 billion electrification plans, they began scrambling to secure battery technology and supplies. To start with, today's battery makers are struggling to churn out enough supply to power all those promised EVs. Because automakers new to the EV business lack the in-house expertise to make and manage their own batteries, talent is in short supply, too.

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