Volkswagen is quickly ramping up its electric car sales in Europe, as regulators push automakers to ween themselves off fossil fuels. In 2021, VW is expected to double its production of electric vehicles to around a half-million. Tesla aimed to deliver a half-million electric vehicles in 2020 but just missed that guidance. In 2021 Tesla CEO Elon Musk has said the company will deliver "in the vicinity" of 840,000 to 1 million electric vehicles. Not too many more than VW. For comparison's sake, Tesla's market cap is $672 billion, while VW's is around $132 billion. In addition to its electric … [Read more...]
Volkswagen CEO: “You Won’t See Any Hydrogen Usage in Cars”
Alongside the epic electric vehicles bubble, investor interest has also steadily grown in hydrogen-powered vehicles. Volkswagen's CEO, Herbert Diess, put a pin in that idea in a recent interview with the Financial Times. FT's Joe Miller writes: Europe’s two biggest industrial and economic powers are laying billions on the table in an attempt to take on China in developing a “green” hydrogen sector to replace fossil fuels — but the continent’s top motor groups are wary of going along for the ride. “You won’t see any hydrogen usage in cars,” said Volkswagen chief executive Herbert … [Read more...]
Are EV Investors Just Delusional?
Are electric vehicle investors delusional? That's what Research Affiliates chairman Rob Arnott thinks. Justina Lee reports at Bloomberg: The electric-vehicle craze is a classic sign of a “big market delusion” that has entrapped investors throughout history, according to quant pioneer Rob Arnott. The 600% rally in a year that sent the combined value of eight manufacturers to $1 trillion is pricing every firm as a major winner in the clean-energy boom. Yet just as the once-highly valued PalmPilot lost in the smartphone revolution, not all of them will succeed in the EV age, the Research … [Read more...]
Jaguar to Sell Only Electric Vehicles
Jaguar has announced that it will transition to producing only electric vehicles. Nathan Bomey reports in USA Today The Jaguar luxury brand will transition to selling only electric vehicles in another step for the automotive industry away from gasoline. Jaguar Land Rover, a British-based manufacturer owned by Indian automaker Tata Motors, announced Monday that the brand will make the shift beginning in 2025. The company said it also expects 60% of Land Rover sales to be electric vehicles by 2030. The move comes amid gradual advancements in battery technology that are making electric … [Read more...]
Don’t Blink: Here’s Why the EV Bubble May Not Last Forever
In Bloomberg, Mark Chediak and Catherine Traywick warn investors of the extreme valuations EV companies are trading for today. They write (abridged): There is nothing about the finances of Blink Charging Co. that would suggest it’s one of the hottest stocks in America. It’s never posted an annual profit in its 11-year history; it warned last year it could go bankrupt; it’s losing market share, pulls in anemic revenue and has churned through management in recent years. And yet a hot stock it is. Investors have bid Blink’s share price up 3,000% over the past eight months. Only seven … [Read more...]
This Is One of Tesla’s Largest Ever Safety Recalls
Tesla is about to undertake one of its largest-ever safety recalls. Rebecca Elliott reports for The Wall Street Journal: Tesla Inc. TSLA +4.77% is recalling roughly 135,000 Model S luxury sedans and Model X sport-utility vehicles over touch-screen failures, one of the electric-car maker’s largest-ever safety actions. The move comes after the National Highway Traffic Safety Administration requested a recall last month, saying the touch screen in some models can fail when a memory chip runs out of storage capacity, affecting functions such as defrosting, turn-signal functionality and driver … [Read more...]
Gavekal Chairman: Renewables Bubble is “Stupidest” Ever
Gavekal chairman, Charles Gave, calls the renewables bubble "the stupidest that I have seen in my career." When Tesla is trading at 1,000 times trailing earnings, it's not hard to see why. Greg Ip reports in The Wall Street Journal: Whether investors one day regret paying so much for Tesla Inc. stock, they have done the planet a favor. Their enthusiasm enabled the company to raise enough money to stay afloat until it could profitably mass produce electric cars while accelerating other manufacturers’ rollouts. Tesla, trading at more than 1,000 times trailing earnings, is only the most … [Read more...]
Quantumscape Suffers Price Collapse
On the first trading day of the new year, shares of Quantumscape Corp fell over 40%. Since just December 22, shares are down over 62%. It turns out that a company that hasn't even produced a product yet may not be worth as much GM or Ford, which have been producing vehicles for over 100 years. Take a look at Quantumscape's performance since November below: MarketWatch writes of the stock's collapse: It isn’t clear what is driving Quantum stock down. There are no new research reports from Wall Street analysts, though there is a cautious post on Seeking Alpha, the crowdsourced … [Read more...]
EV Stocks Officially a Mania
This probably ends poorly for those wagering their hopes and dreams on EV stocks. Not for nothing, but the number of new entrants in the space is off the charts. Doesn’t really give one confidence that there are high barriers to entry. Dyson can attest to that, which is at least partly why the company dropped its electric vehicle efforts. They didn’t see enough room for differentiation. Elon Musk likely recognizes that as well which is why he’s peddling auto-pilot software that, according to some independent analysts, isn’t as good as other products on the market. Now you have … [Read more...]
More on the EV Stock Bubble
The EV stock bubble is likely to end real bad for a lot of investors. Make sure you aren’t one of them. NIO a Chinese EV startup that burned $1 billion last year and is likely to burn close to $700 million this year is valued at $70 billion dollars. That’s much bigger than Ford and slightly larger than GM. At some point the ugly reality of arithmetic is going to catch up with the EV speculators. Joanne Chiu and Mischa Frankl-Duval report in The Wall Street Journal: China’s electric-vehicle makers have surged in value, boosted by bold national green-energy targets and individual investors … [Read more...]
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