Electric vehicle sales more than doubled in 2021: electric vehicle checkpoint
ford (F.) – Get Ford Motor Company Report and Rivian (RIVN) – Receive a Class A report from Rivian Automotive, Inc. have mutually agreed to abandon their plans to jointly develop an electric vehicle.
Ford CEO Jim Farley told Automotive News that the two automakers had decided not to form a joint electric vehicle development company.
Farley tweeted Thursday that Ford plans to become the second largest electric vehicle manufacturer after Tesla in a couple of years with the aim of becoming the largest electric vehicle manufacturer in the world. Ford launched the all-electric Mustang Mach-E two years ago, which is sold on three continents.
Ford’s CEO wrote on Twitter that the auto company plans to produce 600,000 electric cars a year worldwide by the end of 2023, double the original plan.
Past Real moneysays Bruce Kamich that the charts and indicators signal that EV maker stocks are NIO (NOK) – Get the report from NIO Inc. (China) are ready to collect. Check out his technical analysis and real money trading strategies.
Ford backed Rivian with a $ 500 million investment in April 2019, while Amazon invested $ 700 million in February 2019.
Rivian, which launched in 2009, went public on Nov. 10 with an offering price of $ 78 per share and has a market cap of $ 111.6 billion at the last review.
Consumer Reports recently released its car reliability ratings for Toyota Motor on Thursday (TM) – Get Toyota Motor Corp. report -own Lexus, Mazda (MZDAY) , and Toyota ranks as the top brands in that order.
Tesla’s penultimate finish matched the 2020 ranking. It had four models in the survey. “While Tesla’s Model 3 has average reliability, the Model Y still has body hardware issues with tailgate and door alignment, paint defects, and several other issues,” Consumer Reports said. “The Model X and the Model S both have problems with the body, the air conditioning system and the vehicle electronics.”
Commodity super cycle, the debate continues
Ford’s electric version of its best-selling F-150 pickup truck saw record pre-orders and sales, and in September the company announced it would build three battery plants and an electric truck plant in Tennessee and Kentucky. Create 11,000 jobs over the next four years.
By the end of 2020 there was 1,019,260 electric vehicles registered in the US, 42% of them in California. But that’s still only 2.5% of the total automotive market.
According to the Kelley Blue Book, Americans reregistered new electric vehicles in the first three months of 2021 3 times the proportion of other types of new cars – 71% were Teslas. But with more new EV models coming out, others are catching up.
One of the best-selling electric vehicles behind the Teslas is General Motors’ Chevy Bolt (GM) – Get the General Motors Company Report, Ford’s Mustang Mach-E, Volkswagen’s (VOLKAY) ID.4 and the Nissan (NSANY) Sheet, according to car and driver.
But amid the rise of electric vehicles, there is still a global one Semiconductor shortage, which Samsung Electronics intends to address with the development of three chips specially tailored for cars.
Reuters first broke the news that the chips will have a 5G modem and a multi-core artificial intelligence (AI) processor to keep the various screens and software in the car running smoothly.
One of the three chips is specially built for Volkswagen’s infotainment system.
NOK (NOK) – Get the report from NIO Inc. (China) and Li Auto (LI) – Get Li-Auto Report are trading higher on Wednesday after the two companies released their monthly delivery reports. Both companies delivered strong results.
NIO delivered 10,878 vehicles in November 2021, 105.6% more than in the previous year. Li Auto reported 3,485 vehicle deliveries in the month, up 190.2% year over year.
While both stocks are off the session high, investors are wondering if this report is what it takes to move these stocks up significantly. After all, Tesla, Ford, and others have enjoyed a strong run lately.
Here are the top electric vehicle stocks that you should check out:
Tesla stock rose slightly over the past week after Wedbush analysts raised their price target for the electric vehicle maker to $ 1,400 per share, betting on China, which is expected to account for 40% of the electric vehicle maker’s shipments in 2022, beating the rating for Tesla.
Tesla CEO Elon Musk warned workers to cut year-end spending and curb the urge to rush deliveries. “Our focus this quarter should be on minimizing delivery costs instead of spending a lot on speeding up fees, overtime and temporary workers just to get the cars to arrive in the fourth quarter,” said Musk.
TheStreet Quant Ratings rates Tesla as a purchase with a B.
In the midst of massive global chip shortages, Ford is trying to address the problem head on. The automotive giant has teamed up with semiconductor maker GlobalFoundries to begin developing its own computer chips. Initially, the partnership was just about developing chips for Ford’s vehicles, but now the company wants start manufacturing chips in the United States.
Ford offered investors a $ 2.5 billion unsecured green bond days after the American automaker launched its sustainable finance framework and announced it would buy back higher-rated debt. The move comes when President Joe Biden will sign the $ 1.2 trillion government infrastructure bill, which includes major funding for electric vehicles and other clean energy projects.
TheStreet Quant Ratings rates Ford as a purchase with a rating of B.
General Motors expanded its stake in electric vehicles to include boats, saying it bought a 25 percent stake in electric boat company Pure Watercraft. The Detroit auto company paid Seattle-based Pure Watercraft $ 150 million in cash and in kind, which includes access to the automaker’s components and manufacturing assistance.
Pure Watercraft is now valued at $ 600 million, it said. Last December, Pure Watercraft announced it had closed $ 37.5 million in Series A funding. GM will invest $ 35 billion in electric and autonomous vehicle technology through 2025, “including working to increase performance and reduce battery costs to become the electric vehicle leader in North America.”
TheStreet Quant Ratings rates GM as a purchase with a rating of B.
The automotive world is enthusiastic about the electric car manufacturer Lucid Group (LCID) – Get the Lucid Group, Inc. report, which received the Motor Trend Car of the Year Award this month, is the first time that an automaker’s first vehicle has received the honor. News of the Motor Trend Award drove the stock higher. The stock is already up more than 130% in the past six months.
Peter Rawlinson, CFO and CEO of Lucid, told Jim Cramer on a recent episode of “Mad Money” that the company’s first vehicle, Air, currently has over 17,000 reservations and the Edition R has an EPA-certified range of 520 miles , the longest range of any electric vehicle. The base price of the Air is $ 77,400. Lucid designs and builds 100% of its vehicles in-house. Rawlinson noted that they are alone with Tesla in this regard.
TheStreet Quant Ratings has no ratings on Lucid.
Xpeng (XPEV) – Get the Xpeng Inc report Shares skyrocketed last week after China-based electric car maker and emerging rival Tesla posted higher-than-expected sales in the third quarter amid global semiconductor shipments shortages.
Xpeng shipped 25,666 cars in the three months ended October, the group said, well over 200% over the same period last year, which resulted in total revenue increasing 187.4% to 5.72 billion Chinese yuan Street’s consensus forecast of 4.8 billion. By comparison, Tesla sold 133,238 Chinese-made cars over the same period.
TheStreet Quant Ratings has no ratings on Xpeng.