Vehicle-for-hire company Didi Global Inc. experienced a 7% decline on the New York Stock Exchange on Friday following a Chinese government decision to launch a cybersecurity review of the company. As a result, Didi, which only started trading publicly on Wednesday, fell to a value of $15.26 per share.
The...
BMW emphasized its concern regarding the ongoing global chip shortage recently, explaining that the excessively low supply could result in further lost production within the car industry. The German automaker also mentioned that there is little likelihood that supply will increase in the later stages of 2021.
As a result...
Volvo Car Group announced on Monday that they've entered into a joint venture with Swedish battery maker Northvolt for the development of sustainable batteries that will be installed in its electric vehicles. As a result of this deal, Northvolt will become Volvo's exclusive battery cell production partner in Europe.
This...
The Ohio-based Lordstown Motors Corp. officially announced the resignation of two members of its executive leadership team on Monday. Both Chief Executive Officer Steve Burns and Chief Financial Officer Julio Rodriguez decided to depart from their roles with immediate effect.
Prior to the revelation of Burns and Rodriguez's departures, the...
Electric scooter company Bird announced on Wednesday that it is in the process of merging with blank-check company Switchback II Corporation in an effort to go public. The deal is expected to cost the shared electric scooter mobility startup $2.3 billion.
In order to help fund the deal, Bird announced...
Tesla is one of the most lucrative companies in the world, and yet people still managed to underestimate it so far this year. The company recently posted a first-quarter profit that handsomely surpassed estimates, thanks to a shockingly high level of deliveries throughout Q1.
But although the profit was higher...
EV manufacturer Tesla reported its quarterly earnings on Monday, triggering a 7% increase in the EV maker's stock. This comes after the Elon Musk-led company posted record quarterly earnings for the period between January and March.
In an announcement on Friday, Tesla revealed that it delivered 184,800 vehicles in the...
With the aviation industry in shambles following the outbreak of the coronavirus pandemic last March, engine maker Rolls-Royce plummeted to a record 4 billion-pound ($5.6 billion) loss for 2020. According to the British company's chief executive, the engine manufacturer still has enough funding to bounce back from this historic...
The industry of electric vehicles is growing rapidly by the day, and thus there are countless companies battling to gain position for the head honcho spot. Tesla has always held a firm hold over its competitors in this field, but there's another company that experts are predicting will surprise...
Chinese electric vehicle manufacturer Li Auto (LI) reported an unexpected profit for Q4 of 2020 on Thursday, sending the auto manufacturing company's stock up by 1% to 28.98 in premarket trading. This movement is in stark contrast to the stock slump that Li was expected to incur.
While analysts expected...