Polestar (PSNY) stock debuts on Nasdaq after SPAC merger

Shares of Polestar made their public-market debut under the ticker “PSNY” on Friday, making it the latest electric vehicle maker to go public via a merger with a special purpose acquisition company, or SPAC. Polestar’s stock began trading on the Nasdaq exchange one day after it completed its merger with the SPAC Gores Guggenheim. The … Read more

Electric vehicle raw material costs doubled during pandemic

Workers inspect a Rivian R1T electric vehicle (EV) pickup truck on the assembly line at the company’s manufacturing facility in Normal, Illinois, US., On Monday, April 11, 2022. Jamie Kelter Davis | Bloomberg | Getty Images Raw material costs for electric vehicles more than doubled during the coronavirus pandemic, according to a new report Wednesday … Read more

GM slashes prices of Chevy Bolt EVs despite rising commodity costs

2022 BOLT EUV Source: Chevrolet DETROIT – Despite rising commodity costs, General Motors on Wednesday slashed the price of its 2023 Chevrolet Bolt EV, likely making it the least expensive electric vehicle on sale in the US The Detroit automaker cut the price of the Bolt EV to a starting price of $ 26,595, down … Read more

Electric vehicles are in short supply. Here’s what you can find as gas prices soar

Charging port for a Ford Motor Co. Mustang during the Washington Auto Show in Washington, DC, on Friday, Jan. 21, 2022. Al Drago | Bloomberg | Getty Images As gas prices hit record highs, some Americans might be tempted to go electric and ease the pain at the pump. But finding a shiny, new electric … Read more

Electric vehicle prices rise at Tesla, Rivian, GM and other carmakers

Tesla’s Model 3 at the Tesla store in Washington, DC Salwan Georges | The Washington Post | Getty Images Automakers from Tesla to Rivian to Cadillac are hiking prices on their electric vehicles amid changing market conditions and rising commodity costs, specifically for key materials needed for EV batteries. Battery prices have been declining for … Read more

Lucid Group to build first factory outside the U.S. in Saudi Arabia

US electric vehicle maker Lucid Group will set up its first overseas factory in Saudi Arabia, the company announced. Javier Blas | Bloomberg | Getty Images US electric vehicle maker Lucid Group will set up its first overseas factory in Saudi Arabia, the company has announced. The manufacturing facility will be able to produce 155,000 … Read more

Carvana, GameStop, AMC, General Motors and more

Check out the companies making headlines in midday trading Thursday. Carvana – Shares of the online used car retailer popped nearly 30%, alongside other heavily-shorted stocks. Nearly 29% of Carvana shares available for trading are sold short, according to FactSet. The company has faced negative sentiment on Wall Street recently, with downgrades this month from … Read more

Electric vehicle stocks surge

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

Rivian (RIVN) Q1 2022 earnings

Production of electric Rivian R1T pickup trucks on April 11, 2022 at the company’s plant in Normal, Ill. Michael Wayland / CNBC Electric vehicle maker Rivian Automotive on Wednesday maintained its 2022 production target, saying it’s still on track to build 25,000 vehicles this year, as it reported a jump in reservations and a first-quarter … Read more

Rivian (RIVN) Q1 2022 earnings preview

Rivian CEO RJ Scaringe inside the company’s customer experience center outside of its plant on Aptil 11, 2022 in Normal, Ill. Michael Wayland / CNBC Electric-vehicle maker Rivian Automotive will report its first-quarter earnings after market close on Wednesday. Wall Street analysts polled by Refinitiv expect a loss of $ 1.44 per share on revenue … Read more