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GM CEO Sketches Out the Future of Electric Cars

  • GM CEO Sketches Out the Future of Electric Cars GM CEO Sketches Out the Future of Electric Cars 22:15
    The Electric-Vehicle Road Test The Electric-Vehicle Road Test 26:15
9:53 a.m. Jan. 12, 2021 - By Claudia Assis
GM stock zooms to record, pushes $50Shares of General Motors Co. were poised to hit a record close on Tuesday, rallying 6% alongside the broader market and with an extra push from electric-vehicle initiatives unveiled earlier Tuesday. GM stock traded as high as $48.95, an intraday record based on available data going back to November 2010. The last time GM hit a record close, based on the same data, was October 2017. The auto maker earlier Tuesday announced a new business, called BrightDrop, to offer an "ecosystem" of electric products, software and services to help delivery companies transport goods more efficiently. Shares of GM have gained around 38% in the past 12 months compared with gains around 16% for the S&P 500 index in the same period.
5:12 a.m. Jan. 12, 2021 - By Tomi Kilgore
GM stock surges into record territory after unveiling of new electric transport-services business BrightDropShares of General Motors Co. moved 6.4% higher and into record territory Tuesday after the automobile maker announced a new business called BrightDrop, which GM said will offer and ecosystem of electric products, software and services to help delivery companies transport goods more efficiently. BrightDrop's first product, available in early 2021, will be an electric pallet called EP1. An EP1 pilot program, in partnership with FedEx Corp.'s FedEx Express, has already been completed, with EP1s helping FedEx Express couriers handle 25% more packages per day. The second BrightDrop product, available for order in early 2022, will be the EV600, an electric light commercial vehicle built to deliver goods over long ranges. The EV600 is expected to have an estimated range of up to 250 miles, with a charge rate of 170 miles of range per hour. GM's stock has soared 48.7% over the past three months, while the S&P 500 has gained 7.6%.
11:12 a.m. Jan. 11, 2021 - By Claudia Assis
Nio to offer $1.3 billion in convertible notes Nio Inc. said late Monday it will offer $1.3 billion in convertible notes, split into $650 million in notes due 2026 and $650 million due the year after. Net proceeds will go mostly to general corporate purposes and "to further strengthen its cash and balance sheet positions," the China-based electric-car maker said. Nio's American depositary receipts ended at a record $62.70 on Monday, up more than 7%. On its "Nio Day" on Saturday, the company unveiled its newest vehicle, an electric luxury sedan, and announced some technology advances. Nio's ADRs have gained about 1,700% in the past 12 months, compared with gains around 16% for the S&P 500 index.
12:32 p.m. Jan. 5, 2021 - MarketWatch
Auto sales expected to hit near-decade lowSeveral auto makers reported relatively brisk U.S. sales to finish 2020, stoking optimism the car business this year can continue its climb back from the Covid-19 crisis. General Motors Co. said Tuesday that fourth-quarter sales rose 4.8%, GM's only quarterly increase of 2020. Toyota Motor Corp. said its sales in December increased from the year before, while Fiat Chrysler Automobiles NV said the pace of sales in the fourth quarter accelerated from earlier in the year.
3:17 a.m. Jan. 2, 2021 - By Philip van Doorn
These are the best performing Nasdaq and S&P 500 stocks of 2020 COVID-19 rewarded companies at the cutting edge of mobility and remote workingCOVID-19 rewarded companies at the cutting edge of mobility and remote working.
1:29 a.m. Dec. 3, 2020 - By Steve Goldstein
Tesla climbs as Goldman lifts rating to buy and price target to $780Tesla shares rose over 3% to $586 in premarket trade as Goldman Sachs upped the electric vehicle maker to buy from neutral and lifted its price target to $780 from $455. The investment bank said the shift toward battery electric vehicle adoption is accelerating, due to falling battery prices and an increase in regulatory proposals to limit or ban the sale of internal combustion engine vehicles. Tesla's integrated model will help it sustain a leadership position in the electric vehicle market, the analysts said. Goldman also increased price targets on Ford , to $9 from $8, and on General Motors , to $52 from $46.
3:39 a.m. Nov. 30, 2020 - By Tomi Kilgore
Nikola's stock tumbles after new supply deal with General Motors doesn't include equity stakeShares of Nikola Corp. sank 15.2% in premarket trading Monday, after the battery- and hydrogen-electric vehicle maker said it signed an new supply agreement with General Motors Co. , which doesn't include the previously announced GM equity stake. Nikola said the new Memorandum of Understanding (MOU) "supercedes and replaces" . At that time, Nikola disclosed a subscription agreement in which it will issue and sell 47.7 million shares of its common stock to GM valued at $2.0 billion. , Nikola and GM will integrate GM's Hydrotec fuel-cell technology into Nikola's zero-emission Class 7 and Class 8 semi-trucks, and the companies will "discuss" the potential for using GM's Ultium battery system Nikola's Class 7 and Class 8 trucks. Nikola said it continues to expect to begin testing prototypes of its fuel-cell powered trucks by the end of 2021. Nikola's stock has dropped 32.5% over the past three months through Friday but was still up 170.6% year to date, while the S&P 500 has advanced 12.6% this year.
7:24 a.m. Nov. 25, 2020 - By Claudia Assis
Ford stock downgraded to hold at Morgan Stanley Ford Motor Co. stock was downgraded to the equivalent of hold at Morgan Stanley, with analyst Adam Jonas saying that even though the car maker has a "sense of urgency" about electric cars its strategy "is not fully clear to us." Ford is also still saddled with its Europe business and is "sub scale" in the Chinese market compared with other makers, the analyst said in a note Wednesday. Morgan Stanley kept its rating on General Motors Co. at the equivalent of buy, and upped its price target on the stock to $53 to $44, praising the auto maker's "all in" move into EVs. Overall investors are seeing EVs as an opportunity to legacy auto makers rather than a threat, Jonas said. Shares of Ford have lost nearly 2% this year, while shares of GM have gained around 25%. That compares with gains around 12% for the S&P 500 index.
3:33 a.m. Nov. 25, 2020 - By Tomi Kilgore
Nikola's stock tumbles to put record 8-day win streak in dangerShares of Nikola Corp. dropped 16.1% in premarket trading Wednesday, putting them on track to snap a record eight-day win streak in which the electric truck maker's stock rocketed 76.3%. In an interview late Tuesday on CNBC's "Mad Money with Jim Cramer," Chief Executive Mark Russell did not reassure investors that partnership with General Motors Corp. announced in September, which included , would still go through, . Also in the interview, Russell said he could not comment on what Founder Trevor Milton, , would do with 92.2 million shares of the Nikola common stock he owned when the lock-up expires on Dec. 1, although many other insiders have agreed to . In total, 161 million shares, or roughly 42% of the common stock outstanding, will become eligible for sale on Dec. 1 as lock-up agreements expire. Nikola's stock selloff Wednesday comes as shares of other electric vehicle makers are pulling back ahead of the open, with Tesla Inc. down 1.5%, Nio Inc. shedding 8.8% and Workhorse Group Inc. sliding 9.4%. Meanwhile, futures for the Nasdaq 100 are up 0.1% ahead of the open and S&P 500 futures are down 0.1%.
7:13 a.m. Nov. 20, 2020 - By Claudia Assis
GM stock's price target raised after company's EV planAnalysts at Deutsche Bank on Friday upped their price target on General Motors Co. by 12% to $48 from $43, representing an upside around 12% over Friday prices, saying that the company's new push toward electric vehicles puts it on track for leadership in that area. GM earlier this week said it would That strategic update also "implicitly" confirmed that GM will not spin off EV or related assets, the Deutsche Bank analysts said. "We are very encouraged by GM's updated product and investment strategy and targeted cost/margin trajectory, which could ultimately give it a strong market position and solid profitability in EVs," they said. Shares of GM were poised to end the week up more than 4% and so far this year have gained 17%, compared with gains around 11% for the S&P 500 index.
2:41 a.m. Nov. 17, 2020 - By Tomi Kilgore
Nio's stock rises ahead of earnings as Tesla surge, upbeat analyst call provide a boostShares of Nio Inc. surged 2.3% in premarket trading, ahead of the China-based electric vehicle maker's third-quarter earnings report after the closing bell, as a big rally in Tesla Inc.'s stock and an upbeat analyst note helped fuel investor optimism. Nio is expected to report a per-share loss that narrowed to RMB1.18 from RMB2.48 a year ago, according to FactSet, and revenue that more than doubles to RMB4.37 billion from RMB1.84 billion. Tesla's stock shot up 13.3% ahead of the open, after that it would add the stock to the S&P 500 next month. And Wedbush analyst Dan Ives the EV vehicle market is still in the" very-early innings" of playing out, with the stage now set "for a major step up in EV growth, with Europe and China front and center as core growth regions." Among other China-based EV makers, shares of Li Auto Inc. rallied 3.4% premarket and XPeng Inc. climbed 3.5%.
9:39 a.m. Nov. 13, 2020 - By Claudia Assis
GM recalls some Chevy Bolt EVs due to potential for battery firesGeneral Motors Co. said Friday it is voluntarily recalling some of its all-electric Chevy Bolts made between 2017 and 2019 following a Highway Traffic Safety Administration's investigation into a few reports about "potential fires." GM said it had already been investigating these reports in cooperation with NHTSA. The incidents appeared to surface when the vehicles were at or close to full charge, and GM is asking some owners to limit charge levels in some model years. Shares of GM kept their gains on Friday, looking to end the week 9% higher. The stock has gained 12% this year, compared with gains around 11% for the S&P 500 index.
1:55 p.m. Nov. 12, 2020 - Barrons.com
GM CEO Sketches Out the Future of Electric CarsThere's more than Tesla in the drive to electric vehicles. Take a look at General Motors' investments in electric and autonomous vehicles. A conversation with GM CEO Mary Barra, from Investing in Tech: Shock to the System.
12:01 a.m. Nov. 11, 2020 - By Philip Reed
With so many EVs on the market, is it time for you to buy an electric car? Even pickup trucks are going electric. Ask yourself these questions to see if it’s time to kick the gasoline habitElectric cars now drive farther, charge faster and come in nearly every price range. Should you get one?
5:07 a.m. Oct. 21, 2020 - By Tomi Kilgore
Nikola's stock surges after GM president said on CNBC he sees 'spectacular' opportunity in partnershipShares of Nikola Corp. surged 4.7% in morning trading Wednesday, after General Motors Corp. President Mark Reuss said on CNBC that he saw a "spectacular" opportunity to work with the battery-electric and hydrogen-electric vehicle maker. The shares had run up as much as 8.3% after the open before paring gains. amid concerns that much-celebrated partnership with GM was on the rocks. that GM continues to "work the opportunity," and that the opportunity to put its fuel cells into Class 7 and Class 8 trucks would be "spectacular." GM's stock edged up 0.8% in morning trading. Over the past three months, Nikola's stock has tumbled 45.4% while the S&P 500 has gained 6.3%.
7:09 a.m. Oct. 20, 2020 - By Claudia Assis
GM to modify Tennessee plant to build electric vehiclesGeneral Motors Co. said Tuesday it will transition a Tennessee plant to become the company's third electric-vehicle manufacturing site, joining two factories in Michigan. GM also confirmed investments in five Michigan plants, including those in Lansing and Flint for future crossover and full-size pickup production. The new Cadillac Lyriq will be the first EV produced at the Tennessee plant, which would continue to build traditionally powered Cadillac vehicles as well. The facility investments will total more than $2 billion, GM said.
3:09 a.m. Oct. 19, 2020 - By Tomi Kilgore
Nikola stock extends selloff, but J.P. Morgan said GM partnership still likelyShares of Nikola Corp. fell 1.2% in premarket trading Monday, even as J.P. Morgan analyst Paul Coster reiterated his overweight rating on the electric vehicle maker as he tried to assuage concerns that . could fall apart. Nikola's stock had tumbled 16.1% on Friday, after Nikola Chief Executive Mark Russell that the company could manage if GM decides to walk away from the deal, but would cancel plans to produce the Badger truck. Coster said he believes Nikola and GM are still likely to enter a strategic partnership by Dec. 3. "Nikola needs access to GM's supply-chain, engineering resource, the Ultium battery and Hydrotec fuel cells to de-risk the Class 8 truck initiative," Coster wrote in a note to clients. "GM needs to realize a return on billions of dollars of investment in Hydrogen fuel cells, and Nikola might be the best available option." Nikola's stock has tumbled 60.0% over the past three months through Friday, while the S&P 500 has gained 8.0%.
3:15 a.m. Oct. 12, 2020 - By Tomi Kilgore
Workhorse's stock gains as company secures $200 million in financing through convertible notesShares of Workhorse Group Inc. rose 2.7% in premarket trading Monday, after soaring 13% the previous session, after the electric van and drone maker said it secured $200 million in financing from institutional lenders. The company said it an agreement to sell $200 million worth of 4.0% senior secured convertible notes due 2024. The company plans to use the proceeds from the sale to increase production, advance new products to market, refinance debt and for general corporate purposes. The notes can be convertible into common stock at $36.14, which is 35% above Friday's closing price of $26.77. "With this financing in place, we can more quickly advance our production efforts heading into 2021 by increasing our supply chain component volumes, hiring more manufacturing employees and automating certain sub-assembly processes," said Chief Executive Duane Hughes. The stock has rocketed 781% year to date through Friday, while the S&P 500 has gained 7.6%.
12:03 a.m. Oct. 9, 2020 - By Allyson Harwood
When does the electric Ford F-150 pickup go on sale, and how much will it cost? Advantages include: savings on fuel and maintenance, more storage, quick acceleration and more torque and horsepowerA lot of companies are entering the all-electric truck market, but the most important one to mainstream truck buyers is Ford.
12:02 a.m. Oct. 7, 2020 - By Andy Bornhop
Review: The new Mercedes-Benz S-Class The new sedan has a powerful engine, is packed with safety and driver-assist tech, and the heated and cooled front seats have 10 different massaging programsMercedes has poured much of its mechanical prowess and technical might into this large, luxurious machine
12:04 a.m. Oct. 6, 2020 - By Allyson Harwood
What’s the new Ford F-150 like? This year it’s available as a hybrid powertrain, has a redesigned body, and all-new interiorThe popular pickup was revamped for 2020, and comes as a hybrid. Here’s what’s new and different.
12:04 a.m. Oct. 5, 2020 - By Andy Bornhop
A first look at the new electric Volkswagen ID.4 It has a 250-mile range and free charging for three years. Look for it in early 2021Volkswagen sees the future as electric, and its first EV in the U.S. is a compact 5-seat crossover SUV called the ID.4
4:10 a.m. Oct. 3, 2020 - By Philip van Doorn
Weekend reads: What to know now that President Trump has the coronavirus Also, contact tracing, an interesting IPO and an improved retirement location toolAlso, contact tracing, an interesting IPO and an improved retirement location tool.
12:04 a.m. Oct. 2, 2020 - By Autotrader
Can you charge an EV in the rain? Is it safe? It’s a common question, and the short answer is yes; here’s an explanation for car nerdsFor anyone caught in the rain as the battery trickles toward zero, rain-meets-recharging suddenly comes to mind.
8:37 a.m. Sept. 30, 2020 - By Claudia Assis
Nikola postpones ‘Nikola World,’ capping roller-coaster September for the company Electric-truck maker seeks to reassure investorsEvent’s postponement caps a wild September for Nikola, which sought to assure investors it remained on track “to become a global leader in zero-emissions transportation.”
12:04 a.m. Sept. 30, 2020 - By Autotrader
What’s it like to drive the new Polestar 2? A performance-oriented electric car that’s very similar to the Tesla Model 3, we applied it to the sinewy curves of California’s Mulholland HighwayIf you think electric cars are boring, you haven’t driven a Polestar 2.
11:46 a.m. Sept. 28, 2020 - By Andrew Restuccia
EPA chief mocks California’s 2035 ban on gas-powered cars: ‘You can’t even keep the lights on today’ Wheeler claims plan would strain electric grid, will likely need EPA approvalThe Environmental Protection Agency raised concerns about California Gov. Gavin Newsom’s plan to ban sales of new gasoline and diesel-powered passenger cars in the state by 2035, arguing that the mandate is impractical and possibly illegal.
12:04 a.m. Sept. 28, 2020 - By Russ Heaps
Check out the Mustang Mach-E, Ford’s electric SUV It’s set to rival the Tesla Model Y and the Audi e-tron; look for it in late 2020For the first time in 55 years Ford has expanded the Mustang lineup, and its innovative electric powertrain could be the carmaker’s future.
5:08 a.m. Sept. 26, 2020 - Associated Press
China’s auto show featuring EVs with more range opens under COVID-19 controls Ford announced the China debut of its all-electric Mustang Mach-E SUVFord, Nissan and BMW unveiled electric models with more range for China on Saturday as the Beijing auto show opened under anti-virus controls that included holding news conferences by international video link.
2:57 a.m. Sept. 26, 2020 - By Philip van Doorn
These cheap stocks could see huge gains during a vaccine-driven economic rebound When analysts raise their earnings estimates, shares of some of the hardest-hit companies will begin to bounce backWhen analysts raise their earnings estimates, shares of some of the hardest-hit companies will begin to bounce back.
11:59 a.m. Sept. 25, 2020 - By Daniel Newman
Disappointed by Tesla’s Battery Day? The electric-car maker has been winning by playing the long game Tesla CEO Elon Musk is setting up the company for domination, which requires long-term plans that may disappoint in the short runTesla CEO Elon Musk is setting up the company for domination, which requires long-term plans that may disappoint in the short run.
6:35 a.m. Sept. 25, 2020 - Associated Press
House backs a bill to boost ‘clean energy,’ including phaseout of HFCs in air conditioners, refrigerators Bill now goes to the Senate, where a separate energy bill is pendingThe House has approved a modest bill to promote “clean energy” and increase energy efficiency while phasing out the use of coolants in air conditioners and refrigerators that are considered a major driver of global warming.
12:05 a.m. Sept. 25, 2020 - By Nick Kurczewski
How the Jaguar I-Pace matches up in the EV market Jag’s first-ever EV needs to prove it has the staying power— here’s a technical analysis to compare with competitors like TeslaHere’s a breakdown of the technical aspects of the I-Pace to show how the specs compare to rivals like the Tesla Model X
1:36 a.m. Sept. 24, 2020 - By Tomi Kilgore
Nikola's stock tumbles after Wedbush's Ives turns bearish, slashes price targetShares of Nikola Corp. tumbled 9.3% in premarket trading Thursday, after Wedbush analyst Dan Ives turned bearish on the electric truck maker, saying he now believes the downside risks outweigh any positives. He cut his rating to underperform from neutral, and slashed his stock price target to $15, which is 29% below Wednesday's closing price of $21.15, from $45. The downgrade follows a volatile few weeks, that included announced with General Motors Co. , a and the as executive chairman. In a note titled, "The Light has Turned From Yellow to Red," Ives said he still believes Nikola's EV and hydrogen fuel cell ambitions are attainable in the semi-truck market, he now has "serious concerns" that the execution and timing of these goals can stay on track in the coming years. "The recent questions surrounding the Nikola story raised by the bears will be a dark cloud over the stock until answered, especially with no fundamental or delivery catalysts in the near term," Ives wrote in the note. "[N]ikola has made no revenue over the last 4 years, burns cash at a rapid rate, and has some stout competition already off and running in the electric trucking space (Tesla, Daimler)," he added. The stock has still more than doubled year to date through Wednesday, but it has plunged 71.5% over the past three months while Tesla Inc.'s stock has run up 97.9% and the S&P 500 has gained 6.1%.
12:04 a.m. Sept. 24, 2020 - By Ben Stewart
What’s it like to own an Audi e-tron? The roomy electric crossover is the perfect size for this family, and makes a great road-trip car—here’s the pros and consUntil we got one, our family couldn’t find an EV that fit our needs. Here’s what life is like with this electric crossover.
12:03 a.m. Sept. 23, 2020 - By Christian Wardlaw
What is a mild hybrid? Electric-assist, not electric power; here’s how they work Here’s the story behind these fuel-savers, and some of the vehicles using the technologyMild hybrid electric vehicles? Do we really need another acronym? Here’s what to know about MHEVs
8:00 p.m. Sept. 21, 2020 - By Associated Press
Asian equity markets track Wall Street’s retreat as investors fret over coronavirus pandemic’s continuing economic tollShares slipped Tuesday in Asia after markets tumbled worldwide on worries about the pandemic’s economic pain.
7:57 a.m. Sept. 21, 2020 - By Claudia Assis
Here’s what Wall Street is saying about Nikola founder’s ‘shocking’ departure Founder’s exit could ‘minimize the drama,’ analyst saysWall Street is hoping that the founder’s exit turns down the noise around the electric-vehicle maker.
12:01 a.m. Sept. 21, 2020 - By Paul A. Eisenstein
This is the fierce competition the Tesla Cybertruck faces in the EV truck market GM says it will revive the Hummer brand with an electric pickup and two Detroit startups promise EV trucksAt least 7 automakers – including Ford and GM, and start-ups like Rivian – have announced plans to offer electric pickups.
1:42 a.m. Sept. 18, 2020 - By Ciara Linnane
Electric vehicle tech provider XL Fleet to merge with SPAC Pivotal Investment in deal valued at about $1 billionXL Fleet, a provider of electric vehicle technology, said Friday it has agreed to merge with Pivotal Investment Corporation II , a special purpose acquisition corporation, or SPAC, in a deal with a pro forma enterprise value of about $1 billion. A SPAC, or blank-check company, is one that goes public and then seeks to acquire a business or businesses. The new entity will be named XL Fleet and will remain listed on the New York Stock Exchange, under a new ticker, "XL." XL's customers include FedEx, The Coca-Cola Company, PepsiCo, Verizon, the City of Boston, Seattle Fire Department, Yale University, and Harvard University, among other blue-chip companies, municipalities, and institutions, the companies said in a joint statement. On close, the company expects to receive about $300 million of cash that will be used to expand, to develop new products and services, pay down or prepay debt and for general corporate purposes. The deal is expected to close in the fourth quarter. Pivotal shares were up 19% premarket. .
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