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Electric Vehicles

Capital Calls: Uber vs. Lyft, GE executive pay

4 May 2022

Concise views on global finance: Shares in both ride-hailing firms fell on Wednesday despite Uber signaling it doesn’t have to invest to attract drivers like its smaller rival. And only two-thirds of investors backed CEO Larry Culp’s compensation, even after a $10 mln bonus cut.

Rising costs put U.S. auto revamp in a jam

29 Apr 2022

Prices of cars from makers like Ford and GM are up by 13% in a year. But higher costs have caused profits to stagnate. Revamping businesses away from combustion engines is expensive, and adds pressure. They have few levers to pull, and little cushion to fund change.

Capital Calls: U.S. GDP fall masks solid economy

28 Apr 2022

Concise views on global finance: Consumer spending and business investment are resilient amid price hikes.

Musk wealth pours in as fast as Twitter can use it

22 Apr 2022

The Tesla CEO may need to find $33 bln more cash if he buys the social media company. That could require him to sell most of his shares in the electric-car maker that aren’t pledged against loans. But with more vast stock awards coming his way, it’s less risky than it looks.

Musk’s Twitter tilt comes at bad time for Tesla

20 Apr 2022

The billionaire’s quixotic offer for the social-media group will be too big a distraction from running the $1 trln electric-car maker. Tesla faces disruptions from rising costs, supply-chain woes as well as more competition for scarce resources. That demands Musk’s full focus.

Porsche IPO is slow road to a higher VW valuation

20 Apr 2022

The German carmaker’s luxury brand could easily be worth 90 bln euros. Yet a plan to only sell 25% may limit the benefit for shareholders by leaving the company with a small free float and complex governance. Their consolation is that this listing may not be the final model.

Indonesia’s EV dream gets $15 bln spark of reality

20 Apr 2022

South Korea’s LGES, China’s CATL and partners plan to build comprehensive battery supply chains in the country. That’ll please Jakarta, whose bold electrification goals need industry buy-in. With supply chains stressed, it’s a well-timed boost for the wannabe production hub.

How metals markets can limit future debacles

19 Apr 2022

UK regulators want answers after the London Metal Exchange voided nickel trades. A supply crunch in a wider range of metals means Europe’s key market can expect more crises. Regaining trust may require new leaders, but the LME can at least reduce the impact of future shocks.

Renault is awkward guinea pig for Tesla-like trick

13 Apr 2022

The group may list its electric-vehicle business. Automaker CEOs look enviously at the rich valuation of Elon Musk’s group. Yet Renault’s battery unit is modest, and poor profitability and messy governance would mean its rump combustion operation would look even less desirable.

Great Wall Motor drives China’s cars to go global

30 Mar 2022

The $30 bln homegrown SUV and pickup-truck specialist grew overseas sales a whopping 142% in 2021. War in Ukraine casts a shadow over its Russian business. GWM’s overall success outside China, though, blazes a trail for ambitious compatriots from Nio to Chery to follow.

Petrol forecourts can shift to fuel-free future

28 Mar 2022

Despite a push to phase out gas-guzzlers, Britain’s Motor Fuel Group may fetch 5 bln pounds. Selling pricey coffee to drivers charging electric cars offers relatively zippy returns. But beside the threat from home chargers, retailers are muscling in with the same idea.

Nio prepares for gruelling financial driving test

25 Mar 2022

The electric-car maker’s loss almost doubled last year to $1.7 bln. Yet it wants to launch three new models and expand into Europe during a supply chain crunch. Its cash pile and manufacturing partner JAC will help. But Nio’s characteristic ambition will take it on a hairy ride.

China’s electric cars are more Tesla than Rivian

22 Mar 2022

The war in Ukraine and a nickel market meltdown inflated battery costs for the industry. Shares in Nio, Xpeng and Li Auto swooned with upstarts like Rivian, while Elon Musk’s $900 bln marque gained ground. New technology and Beijing’s support will help the Chinese automakers catch up.

The climate revolution is underhyped

15 Mar 2022

Kleiner Perkins Chair John Doerr outlines in his new book a plan to reach net-zero emissions by 2050. As an early backer of Amazon and Alphabet, he also explains how saving the planet is a business opportunity akin to the internet in this episode of The Exchange podcast.

Gas guzzlers face reckoning from Ukraine shock

14 Mar 2022

Prices of raw materials and fuel have soared after the Russian invasion. That could push drivers to swap big cars like the Jeep Wrangler for more energy-efficient rides. With big vehicles currently bringing in roughly half of sales, that’s a problem for the $4 trln auto industry.

Musk’s D.C. reset sets dubious precedent

7 Mar 2022

The SpaceX boss has irked lawmakers, battled watchdogs, and even insulted the U.S. president. Offering internet access to Ukraine may catapult him out of villain status. His help is welcome now. But allowing Musk’s finger on the diplomatic scale may have unintended consequences.

Electric-car companies face test of endurance

1 Mar 2022

Lordstown and Lucid shares sank on disappointing estimates of how many cars they will be able to produce. Where it was once enough just to show that making a car was possible, electric-vehicle hopefuls must now prove they can make many, while squeezed by supply challenges.

China’s electric cars map ambitious road to Europe

11 Feb 2022

Xpeng is introducing its battery-powered brand to two more countries on the continent; Nio is close behind. There are no shortcuts from Shanghai to Stockholm, and competing with $900 bln Tesla will be tough. But an asset-light strategy limits the financial fallout if they fail.

Capital Calls: ABB’s car chargers, Airport M&A

10 Feb 2022

Concise views on global finance: The Swiss engineering group’s listing plans come at an unfortunate moment; Britain’s John Menzies takes a risk with rejection of “opportunistic” approach from Kuwaiti air services group NAS.