NIO XPEV LI report strong deliveries for June as Covid wanes

Nio’s ES7 sports utility vehicle adds another competitor to Tesla’s Model X and Model Y in China. Nio Chinese electric-vehicle maker Nio reported Friday that it delivered nearly 13,000 vehicles in June, up 60% from a year ago, as China’s auto industry continued to rebound after months of pandemic-related disruptions. Its total deliveries of 12,961 … Read more

Kohl’s, Micron, Apple and more

Check out the companies making headlines before the bell: Kohl’s (KSS) – Kohl’s tumbled 17.9% in premarket trading after the retailer confirmed an earlier CNBC report that it ended talks to be bought by Vitamin Shoppe parent Franchise Group (FRG). Kohl’s said the deteriorating retail and financial environment presented significant obstacles to concluding a deal. … Read more

BYD sold so many EVs it’s one of the top three automakers in China

One of BYD’s bestselling electric car models, the Han, is on display during an auto show in Shenzhen on June 5, 2022. Anadolu Agency | Anadolu Agency | Getty Images BEIJING – Chinese electric car maker BYD saw sales more than double in May, solidifying the company’s climb into the ranks of the top three … Read more

Shares of China EV maker BYD jump after exec announces Tesla battery deal

This photo from Dec. 2019 shows robotic arms spray painting a car body shell at the BYD Automobile Company Limited Xi’an plant. BYD is set to supply Tesla with batteries “very soon,” a senior company executive told a Chinese state media anchor. Yuan Jingzhi | Visual China Group | Getty Images Shares of electric vehicle … Read more

Ford CEO expects EV transition to force industry consolidation

Ford CEO Jim Farley poses next to a model of the all-new Ford F-150 Lightning electric pickup truck at the Ford Rouge Electric Vehicle Center in Dearborn, Michigan, April 26, 2022. Rebecca Cook | Reuters DETROIT – Ford Motor CEO Jim Farley expects the auto industry’s ongoing transition to electric vehicles to force major consolidation … Read more

Capri Holdings, Salesforce, Weibo and others

Check out the companies making headlines before the bell: Capri Holdings (CPRI) – The parent of luxury brands, like Michael Kors, Versace and Jimmy Choo, saw its stock surge 11% in the premarket after posting better-than-expected quarterly numbers before giving back nearly all those gains. Capri earned an adjusted $ 1.02 per share, 20 cents … Read more

Nio May 2022 sales constrained by Covid; XPeng, Li Auto gain ground

Nio began deliveries of its new ET7, an upscale electric sedan, on Monday, March 28, 2022. Nio Chinese electric vehicle maker Nio delivered more than 7,000 vehicles in May, up 4.7% from a year ago but well below its current production capacity, as Covid-related disruptions continued to limit the company’s manufacturing and its ability to … Read more

Chinese electric car start-up WM Motor files to go public in Hong Kong

Chinese electric car company WM Motor, or Weltmeister, filed Wednesday to go public in Hong Kong. Pictured here is one of the company’s cars in a shopping mall in Shanghai. Future Publishing | Future Publishing | Getty Images BEIJING – Chinese electric car start-up WM Motor filed Wednesday to go public on the Hong Kong … Read more

Chinese buyers not living in lockdown shake off EV price hikes

Guangzhou-based Xpeng is one of several Chinese electric car companies that started to expand overseas. Feature China | Future Publishing | Getty Images BEIJING – In a sign Chinese drivers are still willing to buy electric, start-up Xpeng said that demand for its cars has shaken off the impact of price hikes. From Nio to … Read more

Asia Markets: Stocks, economic growth, earnings

SINGAPORE – Shares in the Asia-Pacific region were poised to open mixed on Monday as global concerns continue to plague markets. In Japan markets, the Nikkei futures contract in Chicago was at 26,920, while its counterpart in Osaka was at 26,750. The Nikkei 225 closed at 26,739.03 on Friday. Australia’s SPI futures were at 7,129, … Read more