EV Roundup: F's Mustang Mach-E Price Hike, XPEV Q2 Results and More

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EV Roundup: F's Mustang Mach-E Price Hike, XPEV Q2 Results and More

Zacks2022-08-29

In a landmark step amid heightening climate issues, California passed a law last week that bans gas-powered car sales by 2035. With that, it became the first state in the United States to end the use ...

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With that, it became the first state in the United States to end the use ...</p>\n\n<a href=\"https://finance.yahoo.com/news/ev-roundup-fs-mustang-mach-142702893.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":"BK4505","symbol_name":"高瓴资本持仓","start_time":0,"source_url":"https://finance.yahoo.com/news/ev-roundup-fs-mustang-mach-142702893.html","article_id":"2263109468","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/FTSc6E23FilC9T0OxQ9VxA--~B/aD00MDA7dz02MzU7YXBwaWQ9eXRhY2h5b24-/https://s.yimg.com/uu/api/res/1.2/zVkczPxyI6Z9c6ZQDYc8iQ--~B/aD00MDA7dz02MzU7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/22cecf4ad0ca1f0a5387d618d7255695"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2263109468","pubTimestamp":1661783222,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"In a landmark step amid heightening climate issues, California passed a law last week that bans gas-","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4505":"高瓴资本持仓","BK4555":"新能源车","BK4526":"热门中概股","EVS.SI":"MSCI China Electric Vehicles and Future Mobility ETF-NikkoAM","BK4023":"应用软件","XPEV":"小鹏汽车","BK4099":"汽车制造商","F":"福特汽车","BK4551":"寇图资本持仓","TM":"丰田汽车","QTWO":"Q2 Holdings Inc"},"translate_title":"电动汽车综述：F的野马马赫-E价格上涨，XPEV第二季度结果等","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"QTWO":1,"XPEV":1,"F":0.9,"EVS.SI":0.6,"TM":0.6},"content_text":"In a landmark step amid heightening climate issues, California passed a law last week that bans gas-powered car sales by 2035. With that, it became the first state in the United States to end the use of gas-powered cars. The California Air Resources Board (CARB) issued a new rule enforcing automakers to accelerate the production of green vehicles beginning in 2026. Chairman of the CARB, Liane Randolph, is of the view that this is California’s most significant effort until now to cut down air pollution and would result in a 50% reduction in pollution from cars and light trucks by 2040.\nOn the news front, XPeng Inc. XPEV posted second-quarter results, incurring a narrower-than-anticipated loss per share. Meanwhile, U.S. auto giant Ford F reopened its order bank for 2023 Mustang Mach-E, hiking prices across all trim levels by as much as $8000.\nIn a breakthrough, Toyota TM accepted California's authority to set vehicle emission standards, reversing its support to the Trump government that stripped the state of its power. Mercedes-Benz MBGAF also made it to the headlines as the company is set to launch a stellar range of EQ vehicles for 2023 in the United States.\nWhile Mercedes-Benz currently holds a Zacks Rank #2 (Buy), TM, F and XPEV carry a Zacks Rank #3 (Hold).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here\nLast Week’s Top Stories\nToyota has acknowledged California’s authority to set its auto-emission standards under the U.S. Clean Air Act. This ends a stalemate that dates back to the Trump administration. On Aug 23, the automaker accepted the California Air Resources Board’s command in climate policies. It stated that it is eager to partake in the shared vision of greenhouse gas reduction and carbon neutrality with the California Air Resources Board and the State of California.\nThe move is somewhat surprising as Toyota had sided with the Trump administration in 2019 that moved courts to roll back existing mileage rules and revoke California’s right to establish its emission standards. The announcement to support the state’s emissions standards followed suit as the California Air Resources Board approved a ban on the sale of new petroleum-powered vehicles by 2035.\nFord announced that it is set to take reservations for its 2023 Mustang Mach-E after a four-month suspension on the grounds of short supply. However, the news of the re-opening of order banks followed the announcement of the price increase of the battery-electric SUV in light of ongoing headwinds like material cost rises and supply chain snags. The starting MSRP for the base Ford Mustang Mach-E Select RWD Standard range increased to $46,895, marking an increase of $3,000. The Premium RWD Standard Range model saw an even higher price rise of $6,200, now starting at $54,975. The top-of-the-line GT Extended Range edition now comes just below $70,000. The Mach-E GT will now cost $61,995, taking up its price by $7,900,\nThough the Mustang Mach-E range has become quite a pinch to the pocket, Ford will be adding updated features across the lineup. The Co-Pilot360 Driver Assist Technology will be a standard safety feature going forward. The software will allow customers to receive future over-the-air updates for its Advanced Driver Assistance Systems. Also, Ford is boosting the battery range of the Mach-E SUV Premium models.\nXPeng incurred second-quarter 2022 adjusted loss of 43 cents per share, narrower than the Zacks Consensus Estimate of $2.61 a share. The bottom line, however, deteriorated from a loss of 21 cents a share incurred in the corresponding quarter of 2021. The China-based EV maker posted revenues of $1,110.2 million, up a whopping 97.7% year over year on the back of robust deliveries. Deliveries totaled 34,422 units, skyrocketing 98% year over year. A total of 15,983 P7 model was sold during the quarter under review, marking a 39% rise year over year. Deliveries of the P5 family sedan totaled 12,848 units.\nAs of Sep 30, XPEV had cash and cash equivalents of around $1.3 billion. For third-quarter 2022, XPeng expects deliveries in the band of 29,000-31,000 units, indicating an uptick of 13-20.8% year over year. Revenues are envisioned within RMB 6.8-RMB 7.2 billion, implying year-over-year growth of 18.9-25.9%.\nMercedes-Benz announced that it started production of its first battery-electric SUV for the U.S market. The EQS SUV production began at the Alabama plant last week and will be followed by the manufacture of the EQE SUV later this year. The auto magnate also announced a range of EQ lineup of electric vehicles for the U.S. market. In the statement. it shared details of the new versions of EQS and EQE for 2023.\nThe new addition includes an EQS 450 4MATIC, joining the current 450+ and 580 4MATIC, as well as a 350 4MATIC version of the EQE, which will join the previously announced 350+ and 500 4MATIC models.Mercedes announced that the 2023 model year will include an AMG version of the EQE sedan. The AMG EQE Sedan comes with impressive driving dynamics and is equipped with a powerful high-performance drive battery that uses the latest lithium-ion technology. The entire range of 2023 EQ vehicles is likely to arrive in the U.S. market by late 2022.\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 Space?\nStay tuned for 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. \nClick to get this free report\n \n\nFord Motor Company (F) : Free Stock Analysis Report\n \n\nToyota Motor Corporation (TM) : Free Stock Analysis Report\n \n\nXPeng Inc. Sponsored ADR (XPEV) : Free Stock Analysis Report\n \n\nMercedesBenz Group AG (MBGAF) : Free Stock Analysis Report\n \n\nTo read this article on Zacks.com click here.\n \n\nZacks Investment Research","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"hasMoreComments":false,"newsSizeData":{"likeSize":1,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}