Take a look at some of the biggest movers in the premarket: Walmart (WMT) – Walmart slumped 7% in premarket trading after missing bottom-line expectations for the first quarter. The retail giant earned $ 1.30 per share, 18 cents a share below estimates as inflationary pressures offset the positive impact of better-than-expected sales. Home Depot … Read more
Beaten-up shares of several electric-vehicle start-ups traded sharply higher Thursday morning. Rivian Automotive after market close on Wednesday reported a first-quarter loss that was narrower than Wall Street had expected, and Lordstown Motors announced a crucial deal to sell its Ohio factory had closed. The stocks were up roughly 28% and 45%, respectively, in mid-morning … Read more
Workers install door hinges to the body shell of a prototype Endurance electric pickup truck on June 21, 2021 at Lordstown Motors’ assembly plant in Ohio. Michael Wayland / CNBC Embattled electric vehicle start-up Lordstown Motors said Wednesday it has closed a $ 230 million deal to sell its Ohio factory to Taiwanese contract manufacturer … Read more
The Lordstown Motors Corp. Endurance electric pickup truck sits on stage during an unveiling event in Lordstown, Ohio, US, on Thursday, June 25, 2020. Matthew Hatcher | Bloomberg | Getty Images Struggling electric vehicle start-up Lordstown Motors said it’s on track to begin production of its Endurance pickup in the third quarter, about a year … Read more
The ELMS Urban Delivery, anticipated to launch later this year, is expected to be the first Class 1 commercial electric vehicle available in the US market and will be produced at the Company’s facility in Mishawaka, Indiana. Electric Last Mile Solutions DETROIT – Shares of EV start-up Electric Last Mile Solutions plummeted during intraday trading … Read more
The Lordstown Motors factory is where GM once operated, in Lordstown, Ohio, on October 16, 2020. Megan Jelinger | AFP | Getty Images General Motors sold its stake in Lordstown Motors during the fourth quarter following an undisclosed lock-up period, the Detroit automaker confirmed Tuesday. GM owned 7.5 million shares of common stock in Lordstown … Read more
Workhorse C-Series Courtesy: Workhorse Struggling electric vehicle start-up Workhorse Group expects to build roughly 250 vehicles in 2022 after completing a product roadmap overhaul, the company said Tuesday. Workhorse has struggled for several years to get market traction for its electric commercial vans. The company’s C-1000, designed for so-called “last mile” delivery service and launched … Read more
Lordstown Motors gave rides in prototypes of its upcoming electric Endurance pickup truck on June 21, 2021 as part of its “Lordstown Week” event. Michael Wayland / CNBC Embattled electric vehicle start-up Lordstown Motors expects to produce and sell up to only 3,000 vehicles through next year, the company announced Monday. Those plans include 500 … Read more
There are more key retail earnings scattered throughout this week, as well as some notable EV start-ups in Lordstown Motors and Lucid.
A slew of big-name hedge funds added stakes in the burgeoning electric vehicle space at the end of 2021.