4:22 a.m. May 12, 2021
- By Tomi Kilgore
Toyota expects 15% of U.S. sales to be battery, fuel cell electric vehicles by 2030Toyota Motor Corp. said Wednesday it expects battery electric vehicles (BEV) and fuel cell electric vehicles (FCEV) to make up 15% of total U.S. sales by 2030. The Japan-based auto maker said that including hybrid electric vehicles (HEV) and plug-in hybrids (PHEV), 70% of the combined Toyota and Lexus vehicles sold will be electrified by 2030. Globally, Toyota expects to sell 8 million electrified vehicles by 2030, including 2 million BEVs and FCEVs. Toyota's U.S.-listed stock rose 2.6% in premarket trading, after the company reported and was well above expectations. The stock has lost 1.5% year to date through Tuesday, while shares of U.S.-based rival General Motors Co. have soared 33.8%, the iShares MSCI Japan ETF has edged up 0.3% and the S&P 500 has gained 10.5%.
1:22 p.m. April 22, 2021
- By Claudia Assis
Skyworks, Silicon Labs shares rise after companies announce $2.75B dealShares of Skyworks Solutions Inc. and Silicon Laboratories Inc. rose in the extended session Thursday after Skyworks announced it has agreed to buy Silicon Labs' infrastructure and automotive business in an all-cash deal valued at $2.75 billion. The deal "will accelerate Skyworks' expansion into the industry's most important growth segments," including electric and hybrid vehicles, 5G wireless infrastructure, smart-home applications and other areas, a combined market opportunity "approaching $20 billion" a year, Skyworks said. The deal is expected to close in the third quarter, and it has has been approved by the boards of directors of both companies, Skyworks said. Funding will likely come from a combination of cash on hand and debt financing arranged by J.P. Morgan, it said.
7:57 a.m. July 18, 2020
- By Claudia Assis
Fisker is going public: Five things to know about the electric-car maker ahead of its IPO Fisker is going public at a strong time for the IPO market, with the Renaissance IPO ETF up 36% year-to-dateFisker is hoping to take advantage of heightened investor interest in blank-check companies and in shares of electric-vehicle companies.