EV Roundup: TSLA Shareholders Back Musk's Pay, GM Trims 2024 EV Outlook & More

Zacks06-17

In an escalating trade dispute, the European Union (EU) imposed up to 38% additional tariffs on Chinese electric vehicles (EVs). This move is part of the EU's broader strategy to protect its car ...

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This move is part of the EU's broader strategy to protect its car ...</p>\n\n<a href=\"https://finance.yahoo.com/news/ev-roundup-tsla-shareholders-back-122100195.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1852331112.SGD","symbol_name":"Blackrock World Technology Fund A2 SGD-H","start_time":0,"source_url":"https://finance.yahoo.com/news/ev-roundup-tsla-shareholders-back-122100195.html","article_id":"2444347193","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/6piDxGYqYZcacXAUpAzGvw--~B/aD00MDA7dz02MzU7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/4809f327101ad740d24e67ea57b2c4a4"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2444347193","pubTimestamp":1718626860,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"In an escalating trade dispute, the European Union  imposed up to 38% additional tariffs on Chinese electric vehicles . 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The manufacturer of zero-emission vehicles, Lion Electric LEV, got the final certification of its LionBattery HD battery pack.","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H","LU0648001328.SGD":"Natixis Harris Associates US Equity RA SGD","LU1720051017.SGD":"Allianz Global Artificial Intelligence AT Acc H2-SGD","LU0648000940.SGD":"Natixis Harris Associates Global Equity RA SGD","LU0316494557.USD":"FRANKLIN GLOBAL FUNDAMENTAL STRATEGIES \"A\" ACC","LU0006061336.USD":"Blackrock US Small and MidCap Opportunities A2 USD","LU1861558580.USD":"日兴方舟颠覆性创新基金B","LU0130103400.USD":"Natixis Harris Associates Global Equity RA USD","LU1201861165.SGD":"Natixis Harris Associates Global Equity PA SGD","LU1551013425.SGD":"Allianz Income and Growth Cl AMg2 DIS H2-SGD","BK4534":"瑞士信贷持仓","LU0130102774.USD":"Natixis Harris Associates US Equity RA USD","BK4555":"新能源车","LU1201861249.SGD":"Natixis Harris Associates US Equity PA SGD-H","BK4533":"AQR资本管理(全球第二大对冲基金)","LU0211331839.USD":"FRANKLIN MUTUAL GLB DISCOVERY \"A\" (USD) ACC","LU0348723411.USD":"ALLIANZ GLOBAL HI-TECH GROWTH \"A\" (USD) INC","BK4566":"资本集团","LU0980610538.SGD":"Natixis Harris Associates US Equity RA SGD-H","BK4149":"建筑机械与重型卡车","LU0943347566.SGD":"安联收益及增长平衡基金AM H2-SGD","BLNK":"Blink Charging","LU2357305700.SGD":"Allianz Global Artificial Intelligence ET H2-SGD","BK4559":"巴菲特持仓","LU1429558221.USD":"Natixis Loomis Sayles US Growth Equity RA USD","LU1861559042.SGD":"日兴方舟颠覆性创新基金B SGD","BK4542":"充电桩","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","LU0823411888.USD":"法巴消费创新基金 Cap","BK4550":"红杉资本持仓","LU1435385759.SGD":"Natixis Loomis Sayles US Growth Equity RA SGD-H","TSLA":"特斯拉","LU1551013342.USD":"Allianz Income and Growth Cl AMg2 DIS USD","LU0082616367.USD":"摩根大通美国科技A（dist）","LU0208291251.USD":"FRANKLIN MUTUAL U.S. VALUE \"A\" (USD) INC","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","BK4551":"寇图资本持仓","GM":"通用汽车","BK4156":"煤与消费用燃料","LU1914381329.SGD":"Allianz Best Styles Global Equity Cl ET Acc H2-SGD","LU2249611893.SGD":"BNP PARIBAS ENERGY TRANSITION \"CRH\" (SGD) ACC","BK4096":"电气部件与设备","LU2756315664.SGD":"ALLIANZ INCOME AND GROWTH \"AMI\" (SGDHDG) INC","CHPT":"ChargePoint Holdings Inc.","BK4511":"特斯拉概念","BK4099":"汽车制造商","BK4548":"巴美列捷福持仓","LEV":"The Lion Electric Company","LU0823414478.USD":"法巴经典能源转换基金"},"translate_title":"电动汽车综述：特斯拉股东支持马斯克的薪酬，通用汽车下调2024年电动汽车前景等","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"TSLA":1,"LEV":1,"GM":1,"CHPT":1,"BLNK":1},"content_text":"In an escalating trade dispute, the European Union (EU) imposed up to 38% additional tariffs on Chinese electric vehicles (EVs). This move is part of the EU's broader strategy to protect its car industry, which supports millions of well-paid jobs and is critical to the region's economic stability.The EU’s decision to slap China with higher tariffs follows a much more aggressive move by the United States last month. \nOn the news front, U.S. auto biggie General Motors GM trimmed its forecast for EV production and sales for 2024 amid cooling demand for the same.\nMeanwhile, in a show of enduring faith for the EV giant Tesla’s TSLA visionary CEO, shareholders approved Elon Musk’s hefty pay package, currently valued at more than $45 billion (composed of stock options) during the company’s annual general meeting. Shareholders also voted in favor of the company’s headquarters’ shift from Delaware to Texas. In a separate development, Tesla is set to increase Model 3 prices in Europe due to potential higher tariffs by the EU on imported electric cars from China.\nEV charging company ChargePoint CHPT and Porsche Cars North America have collaborated to integrate CHPT's network into the Porsche Charging Service. CHPT’s peer Blink Charging BLNK received \"In Process\" FedRAMP status for its EV charging. The manufacturer of zero-emission vehicles, Lion Electric LEV, got the final certification of its LionBattery HD battery pack.\nWhile BLNK currently carries a Zacks Rank #2 (Buy), GM, TSLA, CHPT and LEV carry a Zacks Rank #3 (Hold) each. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.\nLast Week’s Top Stories\nTesla is set to raise prices for its Model 3 in Europe starting Jul 1, 2024.Notices regarding the price hike have been posted on Tesla’s websites in various European countries. The U.S. automaker has not disclosed the exact increase for the Model 3, which starts at $44,000 in Germany. In another development, shareholders voted in favor of Musk’s massive pay package.The saga of Musk’s pay package began in 2018 when it was first approved at a staggering $56 billion. However, earlier this year, a Delaware court invalidated it. This led to a fresh shareholder vote, which ultimately reaffirmed support for Musk.\nHaving said that, Musk needs court approval to receive the compensation, and the legal dispute over the compensation plan is far from over. Legal experts predict that the resolution of the lawsuit could take months. But the vote has boosted Tesla's position in ongoing litigation.\nGeneral Motors is reducing its expected sales and production of all-electric vehicles for 2024 due to slower-than-anticipated U.S. adoption of EVs. The company now anticipates producing 200,000 to 250,000 all-electric vehicles this year, down from the previous estimate of 200,000 to 300,000. GM expects EVs to comprise 8% of U.S. sales industrywide this year, which is lower than many other auto analyst forecasts of around 10% for 2024.\nThe EVs will become profitable on a production basis once they reach 200,000 units, a milestone still expected in the fourth quarter. In May, the company sold more than 9,500 EVs in North America. In the first quarter, EV sales were 16,425 units, representing 2.8% of GM's overall sales.\nChargePoint has partnered with Porsche Cars North America (“PCNA”) to integrate its network into the Porsche Charging Service. This collaboration will expand the number of available charging points for Porsche customers to more than 100,000 across North America. Timo Resch, president and CEO of PCNA, emphasized the partnership's role in broadening charging options and improving customer experience, especially with the upcoming releases of the Taycan and Macan Electric.\nThe My Porsche app will facilitate easy access to ChargePoint and partner stations, covering more than 75% of charging ports available to Porsche drivers. The integration is set to go live in the fourth quarter of 2024, aligning with Porsche’s adoption of the North American Charging Standard.\nBlink has achieved the \"In Process\" designation from the Federal Risk and Authorization Management Program (FedRAMP) for its EV charging solutions. This milestone is crucial as full accreditation will allow government agencies to contract with Blink or its federal resellers for networked EV charging. Blink anticipates achieving full FedRAMP compliance by the end of third-quarter 2024.\nFedRAMP ensures secure cloud services for federal agencies, which are committed to deploying 24,000 charging stations by 2035. Blink’s CEO, Brendan Jones, emphasized the importance of providing reliable EV charging for government agencies, highlighting the company's readiness to support the federal transition to EVs.\nLion Electric has achieved final certification for its LionBattery HD, a heavy-duty lithium-ion battery pack designed for its electric trucks, ensuring compliance with stringent safety standards. These 105 kWh batteries will power the Lion8 Tractor, an all-electric Class 8 commercial truck unveiled at the ACT Expo in Las Vegas.\nThis certification follows the previous approval of the LionBattery MD pack for medium-duty trucks and school buses. Lion’s facility, with a 1.7 gigawatt-hour annual capacity, can produce batteries for 5,000 vehicles per year. CEO Marc Bedard emphasized the company's commitment to innovation, safety and production efficiency, solidifying Lion Electric’s standing in North America's transportation electrification.\nPrice Performance\nThe following table shows the price movement of some of the major EV players over the last week and six-month period.\nImage Source: Zacks Investment Research\nWhat’s Next in the EV Space?\nStay tuned for the announcements of upcoming EV models and any important updates from the red-hot industry.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nGeneral Motors Company (GM) : Free Stock Analysis Report\nTesla, Inc. (TSLA) : Free Stock Analysis Report\nBlink Charging Co. (BLNK) : Free Stock Analysis Report\nChargePoint Holdings, Inc. (CHPT) : Free Stock Analysis Report\nThe Lion Electric Company (LEV) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.24.2","shortVersion":"4.24.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2444347193"}