Tag: automotive industry
Ford to Recommence F-150 Lightning Production Next Week
Ford Motor Co announced on Friday that it is set to resume the production of its F-150 Lightning vehicles on Monday. The company halted production after 18 electric trucks were recalled due to a battery cell manufacturing defect.
The automaker stated it is set to...
Sigma Lithium Shares Surge as Tesla Considers Buyout
Sigma Lithium Corp's U.S. shares soared by 21% during extended trading on Friday after it was reported that Tesla is looking to buy out the Canada-based battery metals miner.
According to a Bloomberg report, Tesla is in the process of speaking with potential advisors about...
Lyft Stock Tanks After Earnings Report
Lyft stocks descended into a 35% freefall on Friday after the release of the company's fourth-quarter financial results. The ridesharing company reported an adjusted loss of 74 cents per share on revenue of $1.2 billion. This falls short of investors' expectations of earnings of...
Carvana Surges By 6% Following Turbulent Week
Carvana stock surged by 6% by the market's close on Wednesday after experiencing an already turbulent week and year. The online car retailer's stock has skyrocketed by over 200% for the year to date.
Having been heavily shorted with 67% of its float consisting of...
Mercedes-Benz Announces Final Sales Figures of 2022
Mercedes-Benz announced its final sales figures for 2022 on Tuesday. The company revealed that it delivered 2.05 million passenger cars over the course of the year, down 1% from 2021.
Aside from the marginal year-on-year decline, the auto manufacturer experienced a strong end to 2022...
Hyundai and SK On Agree to Build Battery Factory in U.S.
Hyundai Motor Co and fellow South Korean company SK On have agreed to invest approximately $2.5 trillion won ($1.88 billion) in the construction of a new joint venture battery factory in the United States. The two parties are expected to sign a memorandum of...