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In addition to being one of the world's leading premium light-vehicle manufacturers, BMW Group produces BMW motorcycles and provides financial services. Premium light-vehicle brands include BMW, Mini, and ultraluxury brand Rolls-Royce. Operations include 31 production facilities in 15 countries, research and development facilities in 17 countries, and a sales network reaching over 140 countries. In 2023, worldwide sales volume was over 2.5 million automobiles and over 209,000 motorcycles.

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중국 자동차 제조사들은 중국에서 판매되는 유럽 휘발유 자동차에 대한 관세 인상을 촉구한 것으로 알려졌다. 이번 조치는 유럽연합(EU)의 중국산 전기차 수출 제한 조치에 대한 보복 조치로 풀이된다.

중국 자동차 제조업체, EV 관세에 대한 보복으로 EU 휘발유 자동차에 대한 관세 인상 촉구

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주요 계약 칩 제조업체인 대만 반도체 제조(TSMC)(NYSE:TSM)와 폭스콘(Foxconn)으로 더 널리 알려진 그리고 애플(NASDAQ:AAPL)의 아이폰 조립업체로 더 널리 알려진 혼하이 정밀공업(OTC:HNHPF)은 정치 및 비즈니스 변화에 따른 글로벌 공급망 변화를 주도하고 있다.

대만의 TSMC 및 폭스콘: 글로벌 공급망 전환 주도, 주요 업계 플레이어들 유치

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Conversations are <a href="https://www.benzinga.com/news/24/06/39448914/china-agrees-to-discuss-ev-tariffs-with-eu-germany-welcomes-it-as-first-step-but-says-many-more-will">moving forward between China and the European Union</a> on a deal that could benefit electric vehicle (EV) companies from both economic powerhouses.
Willingness from both sides to de-escalate a looming tariff war for the car industry can be read as an oasis of mutual trust within the growing trend of protectionism and economic decoupling that has marked relations between China and the West in recent months.
<h3 class="wp-block-heading">New Tariffs On EVs Threaten Carmakers In China, EU</h3>
Germany is fearful of the effects of a recent EU decision to slap an extra tax of up to 38% on some Chinese EV brands, on top of an already-existing tariff of 10%.&nbsp;
For some Chinese EV makers, like SAIC Motor Corp., this could mean a 48% tax on all units sent to the EU. Geely Automobile Holdings Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GELYF#OTC">GELYF</a>) could have its cars face a 30% tax and BYD Company ADR (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>), 27%.
According <a href="https://www.bloomberg.com/news/articles/2024-06-24/china-floats-perks-for-german-carmakers-in-bid-to-stop-ev-levies?srnd=homepage-europe&amp;sref=TBDibEcD">to</a> Bloomberg, Beijing has suggested that Germany could benefit if the EU were to drop the announced raise.
An agreement would primarily benefit luxury German brands like Mercedes Benz Group ADR (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MBGYY#OTC">MBGYY</a>), DR ING H C F PORSCHE ADR (OTC:<a class="ticker" href="https://www.benzinga.com/stock/DRPRY#OTC">DRPRY</a>) and Bayerische Motoren Werke ADR (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BMWYY#OTC">BMWYY</a>), whose units are in risk of receiving extra tariffs in China.
If the EU were to move forward with its decision, launching the new tariffs by July, China could retaliate with higher tariffs on EU-made cars.
Read Also: <a href="https://www.benzinga.com//node/39444946">Tesla Analysts Temper Expectations, Fisker Shuts Down Shop, Nikola&#8217;s 30-for-1 Reverse Split And More: Biggest EV Stories Of The Week</a>
In May, Beijing said it could take its 15% tariff on EU-made cars to up to 25% for large-engine vehicles, in a move that is putting pressure on Germany to act. Large-engine vehicles are considered those with 2.5 liter engines and above, a hallmark of German luxury car brands, which enjoy a healthy market in China.
In the U.S., Chinese EVs have had difficulty gaining market share given high tariffs,<a href="https://www.benzinga.com/news/24/05/38758049/biden-plans-new-tariffs-on-china-targets-electric-vehicles-and-other-strategic-sectors-report"> which are due to climb above 102% for Chinese electric cars</a> this year.
The decision was announced last month by the Biden administration, quadrupling tariffs on China-made EVs and EV components in an effort to protect the domestic car industry and avoid a flood of Chinese cars in U.S. soil.&nbsp;
U.S. carmakers like Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), Rivian Automotive Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>), General Motors Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) and Ford Motor Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) welcomed the decision.
<h3 class="wp-block-heading">Can Germany Push The EU To A Halt?</h3>
During conversations held over the weekend between Robert Habeck, Vice-Chancellor of Germany and his Chinese counterpart Wang Wentao, China proposed lowering existing tariffs of 15% on large-engine cars in exchange for dropping the announced tariff hikes by the EU.
Habeck, who performs as Germany's economy minister, has been on an official visit to the Asian nation.
Yet Germany has to convince the bloc that the planned hike isn't worth pursuing, and pressure by the bloc's largest economy could stir conflict within the bloc.&nbsp;
The EU's decision came as a way to level the playing field after a probe concluded that Chinese government subsidies left European car companies at a disadvantage.
The new tariffs were described as a legal action stemming from a months-long probe, while any change to that decision would be politically and economically motivated.
Germany has declared itself against the EU tariffs and Chancellor Olaf Scholz said Monday that he expects a negotiation to result favorable before the EU tariffs begin being collected.
For now, the EU's tax is provisional and would be set definitely in November unless changed.
Now Read: <a href="https://www.benzinga.com//node/39430780">Chinese EV Maker Xpeng Offers Test Drive Of Its ADAS To Tesla CEO Elon Musk After He Xiaopeng Tries FSD</a>
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Deal Between Germany, China Could Stop Looming Tit-For-Tat On EV Tariffs

Chinese carmakers have reportedly called upon Beijing to raise tariffs on European gasoline-powered cars. This move is seen as a retaliatory measure against the <a href="https://www.benzinga.com/news/24/06/39292802/eu-tariffs-on-chinese-evs-raises-red-flags-battery-maker-warns-of-dwindling-demand-for-material-shor">European Union&#8217;s restrictions</a> on the export of Chinese-made electric vehicles.
What Happened: The Chinese auto industry appealed during a closed-door meeting on Tuesday. The meeting was organized by China&#8217;s Ministry of Commerce and was attended by both Chinese and European car companies, including SAIC, BYD (OTCPK: BYDDY), Bayerische Motoren Werke AG (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BMWYY#OTC">BMWYY</a>), Volkswagen (OTCPK: VWAGY), and Porsche Automobil (OTC:<a class="ticker" href="https://www.benzinga.com/stock/POAHY#OTC">POAHY</a>), Reuters reported citing the state-backed Global Times.
The industry representatives suggested that Beijing should consider raising the provisional tariff on gasoline cars with large-displacement engines. This request comes in response to the EU&#8217;s recent imposition of tariffs to protect its car industry from Chinese competition.
&#8220;Personally, I think it is unfair to start a tariff war solely on the basis of (China&#8217;s) capacity utilization rate and insufficient demand for China&#8217;s new energy vehicles,&#8221; said Zhang Yansheng, chief research fellow, China Center for International Economic Exchanges.
See Also: <a href="https://www.benzinga.com/news/24/06/39393913/nancy-pelosis-visit-to-dalai-lama-tibetan-parliament-in-exile-angers-china-ahead-of-biden-signing-ke?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nancy Pelosi&#8217;s Visit To Dalai Lama, Tibetan Parliament-In-Exile Angers China Ahead Of Biden Signing Key Bill On Region: &#8216;Resolute And Forceful Measures&#8217; Will Be Taken</a>
The European Commission has indicated that it is open to discussing a mutually agreeable solution to the situation.
Why It Matters: EU car exports to China totaled €19.4 billion ($20.8 billion) in 2023, according to figures from the EU statistics agency. During the same period, the EU imported €9.7 billion worth of electric vehicles from China. China represents approximately 30% of sales for German carmakers.
Germany, the largest exporter of vehicles with engines of 2.5 liters or above, has exported $1.2 billion worth of such vehicles to China since the start of this year, according to Chinese customs data.
The EU&#8217;s decision to impose anti-subsidy duties on Chinese EVs in June has sparked a series of responses from China. The country has vowed to <a href="https://www.benzinga.com/news/24/06/39291257/china-vows-to-firmly-safeguard-interests-against-new-eu-tariffs-as-ev-makers-experts-give-mixed-reac">safeguard its interests</a> and take all necessary steps to defend its rights. The move is seen as a response to China&#8217;s &#8220;unfair&#8221; use of state support for its EV manufacturers.
These new tariffs could <a href="https://www.benzinga.com/news/24/06/39306681/fresh-eu-tariffs-could-slow-down-tesla-chinese-rivals-but-warren-buffett-backed-byd-can-profitably-e">potentially slow down</a> Chinese automakers, but companies like Warren Buffet-backed BYD are expected to remain competitive. However, a <a href="https://www.benzinga.com/markets/asia/24/06/39311054/bain-partner-warns-chinese-ev-makers-price-wars-abroad-could-jeopardize-product-quality-and-brand-re">Bain &amp; Co. partner has cautioned</a> that the ongoing price wars among Chinese EV manufacturers in overseas markets could potentially raise doubts about the quality of their products.
Read Next: <a href="https://www.benzinga.com/markets/asia/24/06/39362931/why-alibaba-stock-could-rally-golden-cross-in-sight?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Why Alibaba Stock Could Rally: Golden Cross In Sight</a>
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Chinese Carmakers Urge Beijing To Increase Tariffs On EU Gasoline Cars In Retaliation For EV Tariffs: Report

Key contract chipmaker Taiwan Semiconductor Manufacturing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) and Hon Hai Precision Industry Co. Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HNHPF#OTC">HNHPF</a>), more popularly known as Foxconn and an Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) iPhone assembler, are guiding global supply chain shifts amid political and business changes.
TSMC, serving clients like Apple and Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), has expanded to vital automotive hubs like Dresden, Germany, near automotive giants like Volkswagen AG (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VWAGY#OTC">VWAGY</a>), Bayerische Motoren Werke AG (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BMWYY#OTC">BMWYY</a>), and Porsche.
This site attracts co-investors like Bosch and Infineon, ensuring that suppliers also establish operations nearby, Bloomberg <a target="_blank" href="https://www.bloomberg.com/opinion/articles/2024-06-09/tsmc-and-foxconn-will-guide-the-global-supply-chain?sref=TBDibEcD" rel="noreferrer noopener">reports</a>.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/06/39226348/taiwan-semi-rides-ai-wave-reports-7-1b-revenue-in-may" rel="noreferrer noopener">Taiwan Semi Rides AI Wave, Reports $7.1B Revenue In May</a>
In Japan&#8217;s Kumamoto prefecture, TSMC partners with Sony Group Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SONY#NYSE">SONY</a>), Toyota Motor Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TM#NYSE">TM</a>), and Denso to serve Japan&#8217;s automotive and electronics industries.
The Arizona facility was established due to client pressure and government incentives, attracting suppliers like LCY Chemical and Topco Scientific.
TSMC earmarked $44 billion in 2022, up from $31 billion in 2021,&nbsp;to boost its chip-making capacity.&nbsp;The chipmaker won $6.6 billion in U.S. chip funding, the Verge <a target="_blank" href="https://www.theverge.com/24166234/chips-act-funding-semiconductor-companies" rel="noreferrer noopener">reports</a>.
Foxconn, renowned for assembling Apple&#8217;s iPhones and Nvidia&#8217;s AI servers, is expanding its global footprint with 205 sites in 24 countries.
Foxconn&#8217;s expansions into Mexico, India, and Southeast Asia and partnerships with European industrial firms like Siemens and Stellantis show its strategic push into factory automation, transportation, logistics, aerospace, and alternative energy.
Price Action: TSM shares were trading higher by 2.59% to $168.66 at the last check on Monday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Taiwan Semi and Foxconn Guide Global Supply Chain Shifts, Attract Key Industry Players

The European Commission has given the green light to a €2 billion Italian <a href="https://ec.europa.eu/commission/presscorner/detail/en/ip_24_2994" target="_blank" rel="noreferrer noopener">initiative </a>aimed at supporting STMicroelectronics N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STM#NYSE">STM</a>) in establishing and running an integrated chip manufacturing facility in Catania, Sicily.
The facility will produce Silicon Carbide (SiC) power devices, contributing to Europe&#8217;s technological self-sufficiency and digital sovereignty as outlined in the European Chips Act.
STMicroelectronics&#8217; project, which is backed by the Italian government, aims to enhance the supply and resilience of semiconductor technologies, which are crucial for the digital and green transitions.
The new plant will manufacture high-performance SiC chips used in various applications, including electric vehicles, fast-charging stations, and renewable energy systems.
Italy has notified the Commission of its intent to support the development of ST&#8217;s Catania Campus with a direct grant of approximately €2 billion.
This investment is part of a larger €5 billion project to create a large-scale manufacturing facility for high-performance SiC chips.
The plant will process 200mm wafers into modules and devices for automotive and other industries. Full-scale operations are expected by 2032.
ST has committed to ensuring that the project benefits the entire EU semiconductor value chain, not just Italy.
Related Read: <a target="_blank" href="https://www.benzinga.com/news/24/05/38650313/chip-designer-synopsys-sells-its-software-integrity-business-for-2-1b" rel="noreferrer noopener">Chip Designer Synopsys Sells Its Software Integrity Business For ~$2.1B</a>
The company will also prioritize orders during supply shortages, as stipulated by the European Chips Act, and avoid public service obligations imposed by third countries.
The company has applied for recognition of the Catania Campus as an integrated production facility under the European Chips Act, independent of the State aid assessment.
The European Chips Act, adopted on 8 February 2022, underscores the importance of new production facilities in safeguarding the EU&#8217;s supply chain resilience. The Commission&#8217;s approval is the third such decision, following similar measures in Italy and France.
Margrethe Vestager, Executive Vice-President in charge of competition policy, said, &#8220;The €2 billion Italian measure approved today supports a unique integrated facility for silicon carbide chips. It will strengthen the European semiconductors supply chain and ensure our access to a reliable source of power efficient chips used for example in electric vehicles and charging stations. This will support our digital and green transitions and help create high-skilled employment, while limiting possible distortions of competition.&#8221;
Price Action: STM shares are trading higher by 0.81% at $41.28 in premarket at the last check Friday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Read Next: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/05/38890649/microsoft-unveils-amd-powered-ai-chips-to-rival-nvidia-report" rel="noreferrer noopener">Microsoft Unveils AMD-Powered AI Chips To Rival Nvidia: Report</a>

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European Commission Backs Italian State Aid To STMicroelectronics'  Chip Plant: Details

Garmin Ltd.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>) shares are trading lower after&nbsp;BofA Securities&nbsp;analyst Ronald J. Epstein&nbsp;downgraded the stock to Underperform from Neutral and cut the&nbsp;<a target="_blank" href="https://www.benzinga.com/quote/GRMN/analyst-ratings" rel="noreferrer noopener">price target from $165 to $150</a>.
The analyst writes that in the first quarter, Garmin demonstrated the strength of its brand and the resiliency of its customers and witnessed growth across segments.&nbsp;However, the analyst worries that the momentum is decelerating, implying that the current valuation is unsustainable.&nbsp;
Epstein says that the company&#8217;s AutoOEM segment continues to ramp production and remains on track to hit the $800 million revenue target in 2025.&nbsp;
The analyst expects the segment to reach breakeven in 4Q24 and sees an upside risk as Garmin&#8217;s domain controllers will be spread across all Bayerische Motoren Werke AG (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BMWYY#OTC">BMWYY</a>) BMW&#8216;s fleets with the iDrive infotainment systems. 
The rapidly growing Auto contribution to total revenues is expected to pose a headwind to company margins, and the analyst projects revenue of $635 million at an operating margin of (4.3%). Epstein estimates EPS of $5.66 in FY24 and $6.50 in FY25.
This month, Garmin reported&nbsp;first-quarter&nbsp;revenue increase of 20%&nbsp;to $1.38 billion, surpassing estimates;&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/05/38552073/garmins-advanced-wearables-are-in-demand-surprises-with-q1-profit-growth" rel="noreferrer noopener">proforma EPS of $1.42 beat the consensus</a>.
Garmin stock gained 55% in the last 12 months.&nbsp;Investors can gain exposure to the stock via&nbsp;Global X&nbsp;Internet Of Things ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNSR#NASDAQ">SNSR</a>) and&nbsp;Procure Space&nbsp;ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UFO#NASDAQ">UFO</a>).
Price Action: GRMN shares are down 4.92% at $162.33 at the last check Wednesday. 
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German automaker&nbsp;Bayerische Motoren Werke AG&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/BMWYY#OTC">BMWYY</a>)&nbsp;BMW Group&nbsp;reportedly imported over 8,000 Mini Cooper vehicles into the U.S. containing electronic components from a banned Chinese supplier.
Senate Finance Committee Chairman Ron Wyden&#8217;s staff unveiled that BMW continued importing vehicles with the banned components until at least April, according to a report from&nbsp;Reuters.
The report noted that BMW Group responded, stating they have ceased importing affected products and will replace the specific parts through a service action.
The Uyghur Forced Labor Prevention Act (UFLPA) law, passed in 2021, aims to curb the import of goods produced with forced labor from China&#8217;s Xinjiang region.
Wyden criticized automakers&#8217; self-policing, urging Customs and Border Protection to enhance enforcement to combat forced labor.
The report highlighted Bourns Inc. sourcing components from Sichuan Jingweida Technology Group (JWD),&nbsp;listed under&nbsp;UFLPA Entity&nbsp;List for suspected forced labor.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/04/38183332/bmw-charges-forward-q1-sees-deliveries-with-27-9-surge-in-fully-electric-vehicles" rel="noreferrer noopener">BMW Charges Forward: Q1 Sees Deliveries with 27.9% Surge in Fully-Electric&nbsp;Vehicles</a>
Lear Corp&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEA#NYSE">LEA</a>) informed BMW, Jaguar Land Rover,&nbsp;Volvo&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/VLVLY#OTC">VLVLY</a>), and&nbsp;Volkswagen AG&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/VWAGY#OTC">VWAGY</a>) about banned components, emphasizing prompt action to mitigate the issue.
Volkswagen confirmed holding several thousand vehicles at U.S. ports due to Chinese subcomponents breaching anti-forced labor laws. The report shed light on BMW&#8217;s delayed action, which ceased only after detailed inquiries by the committee.
Read&nbsp;Next:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/05/38891472/tesla-eyes-chinese-data-center-to-boost-autonomous-driving-tech-report" rel="noreferrer noopener">Tesla Eyes Chinese Data Center To Boost Autonomous Driving Tech: Report</a>
Price Action: BMWYY shares are trading lower by 0.40% at $34.31&nbsp;at the last check Monday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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BMW Mini Cooper Imports Linked To Banned Chinese Components: Report

Tesla Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) is reportedly advancing its strategy to enhance its self-driving system using data collected in China. The company, led by CEO&nbsp;Elon Musk, plans to process this data locally.
Until recently, Tesla sought approval from Chinese regulators to transfer vehicle data out of the country.&nbsp;The decision to develop a local data center reflects a strategic pivot, according to a report from&nbsp;Reuters.
Tesla has been developing plans for a data center in China to train its autonomous driving algorithms. This move aligns with a broader effort to secure local processing capabilities for its Full Self-Driving (FSD) system, the report further added.
The shift underscores Tesla&#8217;s rapid adaptation as it navigates a competitive electric vehicle (EV) market and aims for artificial intelligence (AI) breakthroughs.&nbsp;
The initiative to leverage Chinese data for AI development comes amid U.S. restrictions on transferring AI technology to China.&nbsp;
Tesla has faced challenges offering the complete FSD system, priced around $9,000, in China, but expanding this market could largely boost revenue and profits, per the report.
Setting up a data center in China will necessitate collaboration with local partners and could pose hardware procurement challenges.&nbsp;
Tesla has engaged in discussions with&nbsp;Nvidia&nbsp;Corp&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) regarding graphics processing units, although U.S. sanctions limit the sale of advanced chips to China.&nbsp;
Musk&#8217;s recent visit to Beijing, where he met with officials, including Premier&nbsp;Li Qiang, accelerated efforts to facilitate data transfer and explore the&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/asia/24/04/38481213/breaking-tesla-reportedly-teams-up-with-baidu-to-roll-out-fsd-in-china" rel="noreferrer noopener">potential for a local data center.&nbsp;</a>
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/05/38871331/tesla-told-to-face-autopilot-lawsuit-in-the-wake-of-safety-probes-report" rel="noreferrer noopener">Tesla Told To Face Autopilot Lawsuit In The Wake Of Safety Probes- Report</a>
Musk also discussed licensing Tesla&#8217;s FSD system to Chinese EV manufacturers, the report&nbsp;noted.&nbsp;China, the largest car market globally, offers a vast pool of data from sensor-equipped vehicles, making it a valuable resource for AI training.
As per&nbsp;the report, analysts consider leveraging Chinese data for FSD&nbsp;could mark&nbsp;a significant milestone for Tesla.&nbsp;The company has stored data in Shanghai since 2021 and recently began a pilot project allowing data transfer under certain conditions.
Despite competitive pressures, Musk remains confident in Tesla&#8217;s AI capabilities, emphasizing that the <a href="https://www.benzinga.com/markets/asia/24/04/38481213/breaking-tesla-reportedly-teams-up-with-baidu-to-roll-out-fsd-in-china">FSD system could perform well globally with country-specific adaptations.</a>
Tesla stock has gained more than 0.5% in the last 12 months. Investors can gain exposure to the stock via ETFs, including&nbsp;Consumer Discretionary Select Sector SPDR&nbsp;Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) and&nbsp;Fidelity MSCI Consumer Discretionary Index ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDIS#NYSE">FDIS</a>).
Price Action:&nbsp;TSLA shares are&nbsp;trading lower by 0.10% at $174.66 in&nbsp;premarket at the last check Friday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Tesla Eyes Chinese Data Center To Boost Autonomous Driving Tech: Report

<div>Tractor-trailer thefts in Mexico totaled 153 in April</div>

In April, Mexico averaged about five cargo truck thefts per day, totaling 153 incidents across the country's roadways, according to the National Association of Vehicle Tracking and Protection Companies (ANERPV).

Tractor-trailer thefts in April increased 7.7% from the same month last year. ANERPV reported a total of 546 tractor-trailer thefts from January through April, a 5% year-over-year increase.

During the first four months of the year, the state of Mexico ranked No. 1 in cargo thefts with 138 cases, followed by the states of Puebla (131), Hidalgo (43), Guanajuato (41) and Jalisco (39).

ANERPV said 33% of cargo thefts took place between 7 a.m. and noon. More than 28% occurred between noon and 7 p.m., followed by 22% at night and 17% in the early morning hours before 7 a.m.

The Mexican Association of Insurance Institutions (AMIS), which also tracks cargo thefts, said that Kenworth tractor-trailers were the most stolen trucks across Mexico, followed by Freightliner and International tractors. Dry van trailers were the most targeted trailer type.

More than 70% of cargo theft cases in Mexico also involve some type of violence, AMIS officials said.

"The theft of heavy equipment is highly related to the theft of goods in transit, which not only affects transporters, but also the production chain of multiple companies waiting for supplies or products, and the economy of the communities" Norma Alicia Rosas, general director of AMIS, said in a news release.

According to AMIS, the most targeted types of merchandise were food and beverage goods, household items, electronics, and auto parts.

<h2 id="h-bmw-begins-construction-of-860m-ev-battery-plant-in-mexico">BMW begins construction of $860M EV battery plant in Mexico</h2>

The BMW Group (OTC: <a class="ticker" href="https://www.benzinga.com/stock/bmwyy#OTC">BMWYY</a>) has begun construction of a high-voltage battery-assembly facility at its factory in San Luis Potosi, Mexico.

The batteries will be used for BMW's next-generation of electric cars — dubbed the "Neue Klasse" by the company.

"The Neue Klasse will also be produced in Mexico from 2027 onwards" the company said in a news release. "The future high-voltage battery assembly at Plant San Luis Potosi, covering an area of more than 8.6 million square-feet, is key to integrating the Neue Klasse at the production site."

BMW is investing more than $860 million in the battery facility. The BMW Group plant in San Luis Potosi started production in 2019. Around 3,700 employees currently produce the BMW 3 Series Sedan, as well as the BMW 2 Series Coupe and the BMW M2 models for the global market.

<img alt="" src="https://www.freightwaves.com/wp-content/uploads/2024/05/13/BMW_battery_Mexico-1200x675.jpeg" />

BMW Group has begun construction of a battery-assembly facility at its factory in San Luis Potosi, Mexico. It is scheduled to be operational in 2027. (Photo BMW Group)

<h2 id="h-port-of-beaumont-completes-85m-roll-on-roll-off-dock">Port of Beaumont completes $85M roll-on/roll-off dock</h2>

The Port of Beaumont in southeast Texas recently completed construction of a roll-on/roll-off dock aimed at increasing cargo handling capacity at the facility. 

The $85 million project is at the port's Main Street Terminal 1. It included the construction of a 1,145-foot dock.

"Looking to the future, this state-of-the-art dock will expand our berthing capacity by 15%, increase throughput options for our customers and help generate new jobs" the port said in a statement.

McCarthy Building Cos. was the project's builder.

The Port of Beaumont operates eight terminal facilities, with 11 berths, more than 100 acres of storage and direct service to three Class I rail carriers.

<h2 id="h-taiwanese-automotive-supplier-opens-factory-in-central-mexico">Taiwanese automotive supplier opens factory in central Mexico</h2>

LemTech Holdings Co., a Tier 2 automotive supplier, has opened the first phase of its manufacturing facility in Queretaro, Mexico.

The $7 million facility will produce metal stamping, stamping tools, custom metal hinges and other parts for the automotive industry. The factory will initially create 60 jobs but could grow to 80 employees by 2025.

"Our new facility in Queretaro is poised to make significant strides in the automotive industry, offering advanced solutions in precision stamping, robotic welding, and mechanical assembly" the company said in a LinkedIn post. 

LemTech is based in Taipei City, Taiwan. The company has 15 manufacturing facilities in six countries, including a factory in San Jose, California. LemTech has a global workforce of 1,500 people.

The post <a href="https://www.freightwaves.com/news/tractor-trailer-thefts-in-mexico-totaled-153-in-april">Borderlands Mexico: Tractor-trailer thefts in Mexico totaled 153 in April</a> appeared first on <a href="https://www.freightwaves.com">FreightWaves</a>.

Borderlands Mexico: Tractor-Trailer Thefts in Mexico Totaled 153 in April

Brett Garrard, a Mercedes worker, emphasized the need for better work-life balance and a more predictable schedule as part of the ongoing unionization efforts at a Mercedes plant in Alabama.
What Happened: Garrard&#8217;s statement, made on Last Call CNBC, comes amid a vote by over 5,000 workers at the Mercedes-Benz plant in Alabama on whether to join the United Auto Workers (UAW) union. The vote began on Monday, May 13, 2024, in the face of a strong anti-union campaign.
&#8220;The things that we are reaching for in this campaign are more work-home life balance [and] a more stable and standard schedule so that we can participate in family activities,&#8221; Gerrard said.
However, he also revealed that not everyone in the Alabama plant is ready for unionization. The biggest fear is the management would shift the plant out of Alabama to Mexico if the unionization campaign continues. Workers are also concerned that others plants would be preferred over Alabama when new car designs arrive. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&quot;The things that we are reaching for in this campaign are more work-home life balance [and] a more stable and standard schedule so that we can participate in family activities,&quot; says Mercedes worker Brett Garrard on unionization efforts at a Mercedes plant in Alabama. <a href="https://t.co/ane9O8PEeI">pic.twitter.com/ane9O8PEeI</a>
&mdash; Last Call (@LastCallCNBC) <a href="https://twitter.com/LastCallCNBC/status/1790165906376593821?ref_src=twsrc%5Etfw">May 13, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/equities/24/05/38805961/elon-musks-tesla-faces-fsd-uptake-challenge-as-only-2-of-free-trial-users-subscribe-gary-black-t?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk&#8217;s Tesla Faces FSD Uptake Challenge As Only 2% Of Free Trial Users Subscribe, Gary Black Terms T</a>
Why It Matters: The unionization efforts at the Mercedes plant are part of a larger campaign by the UAW. Following a significant victory at a <a href="https://www.benzinga.com/news/24/04/38363664/after-uaw-wins-big-in-tennessee-40m-campaign-continues-35-car-plants-are-next">Volkswagen plant in Tennessee</a>, UAW President Shawn Fain announced plans to organize more nonunion automaker factories. 
The UAW&#8217;s<a href="https://www.benzinga.com/news/24/04/38363664/after-uaw-wins-big-in-tennessee-40m-campaign-continues-35-car-plants-are-next"> $40-million campaign aims </a>to unionize autoworkers in at least 35 non-union U.S. plants currently under the banner of major manufacturers such as Mercedes-Benz Group, Tesla Inc, BMW, Toyota Motor Corp, Nissan Motor Co Ltd and Hyundai Motor Company.
Read Next: <a href="https://www.benzinga.com/markets/asia/24/05/38786554/nio-ceo-william-li-breaks-8-year-brand-loyalty-streak-as-he-takes-delivery-from-rival-chinese-ev-sta?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nio CEO William Li Breaks 8-Year Brand Loyalty Streak As He Takes Delivery From Rival Chinese EV Startup</a>
Photo via Shutterstock
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HYMTF

NSANY

Mercedes Worker Advocates For Better Work-Life Balance Amid Unionization Efforts in Alabama Plant: '...So That We Can Participate In Family Activities'

United Auto Workers (UAW) President Shawn Fain is gearing up to organize more nonunion automaker factories on the heels of a major victory at a Volkswagen (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VWAGY#OTC">VWAGY</a>) <a href="https://www.benzinga.com/topic/mobility">plant in Tennessee</a>.
What Happened: Fain <a href="https://www.theguardian.com/us-news/2024/apr/22/united-auto-workers-auw-shawn-fain">told</a> multiple media outlets on Monday and over the weekend that the UAW&#8217;s $40-million campaign to get more union votes will proceed.
The goal is to unionize autoworkers in at least 35 non-union U.S. plants currently under the banner of major manufacturers such as Mercedes-Benz Group (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MBGYY#OTC">MBGYY</a>), Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), BMW (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BMWYY#OTC">BMWYY</a>), Toyota Motor Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TM#NYSE">TM</a>), Nissan Motor Co Ltd (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NSANY#OTC">NSANY</a>) and Hyundai Motor Company (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HYMTF#OTC">HYMTF</a>). 
The UAW won an election victory Friday at a Volkswagen plant in Chattanooga, Tennessee. Seventy-three percent of the vote favored unionizing. Previous elections in 2014 and 2019 were unsuccessful. 
According to the <a href="https://apnews.com/article/uaw-union-election-vw-chattanooga-tennessee-alabama-74ac19f72cd334050df96ffdccf7425f">Associated Press</a>, Fain said pundits bet against the UAW in the South where roughly 150,000 workers&nbsp;are at non-union factories. 
"But you all said, ‘Watch this,' " he told a group of Volkswagen organizers on Friday night. "You guys are leading the way. We're going to carry this fight on to Mercedes and everywhere else." 
See Also: <a href="https://www.benzinga.com/markets/equities/24/04/38238276/elon-musk-is-epitome-of-everything-thats-wrong-with-this-world-says-uaw-chief-shawn-fain-while-d">Elon Musk Is &#8216;Epitome Of Everything That&#8217;s Wrong With This World,&#8217; Says UAW Chief Shawn Fain</a>
Why It Matters: The Chattanooga victory is the union's first win in a Southern car facility owned by a foreign auto manufacturer. 
Volkswagen is based in Wolfsburg, Germany. 
Previous losses at the Volkswagen facility&nbsp;were blamed on a federal investigation into bribery and embezzlement under previous leaders.
But unions credit new leadership for their favorable contracts that came about on the heels of 2023&#8217;s strike <a href="https://www.benzinga.com/topic/uaw-strike">among Detroit automakers</a>.
The successful union vote in Tennessee also underscores a changing tone across the South during an election year. President Joe Biden <a href="https://www.benzinga.com/news/24/01/36859917/biden-heads-to-michigan-to-strengthen-auto-union-ties-teamsters-to-meet-with-trump-for-roundtable-di">joined a UAW picket line</a> in Michigan, and expressed support for the Volkswagen <a href="https://www.benzinga.com/news/24/03/37811190/joe-biden-bernie-sanders-voice-support-for-volkswagen-workers-looking-to-join-uaw-american-workers-t">workers who voted on Friday</a>.
"Together, these union wins have helped raise wages and demonstrate once again that the middle-class built America and that unions are still building and expanding the middle class for all workers," Biden said, according to a White House statement.
What&#8217;s Next: A five-day election is scheduled to start May 13. Two Mercedes-Benz plants in Tuscaloosa, Alabama <a href="https://www.benzinga.com/news/24/04/38113676/mercedes-alabama-workers-gear-up-for-uaw-union-election-report">will vote next</a>.
The UAW also accused Mercedes of violating global supply chain law, which the Stuttgart, Germany-based company denied, <a href="https://uaw-newsroom.prgloo.com/press-release/uaw-files-charges-in-germany-against-mercedes-benz-companys-anti-union-campaign-against-u-s-autoworkers-violates-new-german-law-on-global-supply-chain-practices" target="_blank" rel="noreferrer noopener">stating its recognition of employees' rights to organize</a>.
Now Read: <a href="https://www.benzinga.com/24/04/38359538/autostreets-in-the-drivers-seat-as-china-gets-set-for-used-car-trading-boom">Autostreets In The Driver&#8217;s Seat As China Gets Set For Used Car Trading Boom</a>
Image: Shutterstock

After UAW Wins Big In Tennessee, $40M Campaign Continues: 35 Car Plants Are Next

With many concerns in the air about the EV revolution running out of steam as even the EV king, Tesla Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) came short of estimates as it posted its first deliveries drop in four years, Volkswagen AG (OTC: <a class="ticker" href="https://www.benzinga.com/stock/vwagy#OTC">VWAGY</a>) and Bayerische Motoren Werke Aktiengesellschaft (OTC: <a class="ticker" href="https://www.benzinga.com/stock/bmwyy#OTC">BMWYY</a>) provided some much-needed optimism on the EV front.
Helped by price cuts, Volkswagen&rsquo;s e-offensive is showing results in the world&rsquo;s biggest car market.
While Volkswagen faced a diminishing EV demand in Europe, Europe&rsquo;s largest carmaker reported a first quarter success in China where its deliveries of both internal combustion engine and electric vehicles expanded by almost 8% during the first three months of the year. Specifically, deliveries of battery-run vehicles rose 91% YoY. Ralf Brandst&auml;tter, the head of Volkswagen Group in China, summed up that the company recorded strong growth, especially with pure-battery vehicles, amid a difficult price war that Tesla ignited last year. With many fierce domestic rivals, including BYD Company Limited (OTC: <a class="ticker" href="https://www.benzinga.com/stock/byddy#OTC">BYDDY</a>), Volkswagen CEO Oliver Blume is aware that staying on the top in China is a utopian dream it cannot afford. Last year, Volkswagen spent 5 billion euros to defend its position in China, yet it failed to win ground from Tesla and BYD. Back in 2019, Volkswagen was the world&rsquo;s biggest automaker that had everything it takes to dethrone Tesla by 2025 and become the world&rsquo;s biggest EV brand. But, Volkswagen failed to execute what it had mapped out for its EV future. Still, Volkswagen reported global deliveries of its entire portfolio rose 3% year to date, fueled by growth in China and the Americas. These figures show that despite a tricky EV journey, Volkswagen still has a lot of strengths to exploit.
BWM is finally starting to see its efforts resulting in growth on the BEV front.
BMW reported strong EV sales growth during the first quarter along with a major milestone. During the first three months of the year, BMW sold its one millionth EV. The BMW brand sold 531,039 cars across the globe, with first quarter sales rising 2.5%. But EV sales went up considerably more, more precisely 40.6% up. By hitting a major EV milestone, along with reporting a surge in first quarter sales, BMW kicked off the new year by outpacing its rivals.
DISCLAIMER: This content is for informational purposes only. It is not intended as investing advice.
This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.

Volkswagen And BMW Report Unexpected Good News Of Their EV Progress

Bayerische Motoren Werke AG&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/BMWYY#OTC">BMWYY</a>) BMW Group delivered 594,671&nbsp;<a target="_blank" href="https://www.press.bmwgroup.com/global/article/detail/T0441021EN/bmw-group-continues-on-bev-growth-path:-milestone-of-one-million-fully-electric-vehicles-reached" rel="noreferrer noopener">vehicles&nbsp;</a>to customers (+1.1% Y/Y) in the first quarter of this year.&nbsp;
BMW Group BEV&nbsp;delivered 82,700 fully-electric BMW, MINI, and Rolls-Royce vehicles (+ 27.9% Y/Y) in the first three months of the year, aided by performance across all major regions of the world.
The company grew strongly in Europe, with 227,784 BMW and MINI vehicles delivered to customers (+5.5% Y/Y) in the quarter.
The BMW Group also recorded a significant increase of 21.6% Y/Y in model sales in the high-end premium segment in the first quarter.&nbsp;
Rolls-Royce motor cars deliveries declined 7.0% Y/Y to 1,525 and, BMW Group electrified vehicle sales increased 11.0% Y/Y to 122,616.
Jochen Goller, member of the Board of Management of BMW AG responsible for Customer, Brands, Sales said, &#8220;The BMW Group is continuing on its BEV growth path. With the delivery of its one-millionth fully-electric vehicle since the market launch of the BMW i3, we have reached an important milestone that confirms the attractiveness of our product portfolio.&#8221;&nbsp;&nbsp;
Outlook: BMW expects a slight increase in deliveries in the Automotive Segment in 2024, with fully-electric vehicles and models from the high-end premium segment to be among the<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">&nbsp;main growth drivers this year</a>.&nbsp;
In both segments, BMW expects to see significant double-digit growth this year.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/03/37514272/bmw-shifts-gears-with-analog-devices-e-b-ethernet-technology-for-enhanced-vehicle-connectivity" rel="noreferrer noopener">BMW Shifts Gears with Analog Devices&#8217; E²B Ethernet Technology For Enhanced Vehicle Connectivity</a>
Photo by Sklo Studio on Shutterstock

Earnings

Guidance

BMW Charges Forward: Q1 Sees Deliveries with 27.9% Surge in Fully-Electric Vehicles

<div>The collapse of Maryland's Francis Scott Key Bridge Tuesday after it was struck by a cargo ship continues to block access to the Port of Baltimore and could disrupt shipping flows across the U.S.</div>

The Singapore-flagged MV Dali container ship collided with the bridge around 1:35 a.m. on Tuesday. At least six people remain unaccounted for, CNN reports. With rescue and recovery operations ongoing, it's unclear how long debris from the bridge will block the Patapsco River, which leads to the Port of Baltimore.

For the shipping community, the accident will affect maritime lanes as carriers must seek alternative ports of call while the collapsed bridge continues to block the river, experts said.

"Are any container vessels currently trapped in the bay? That is question No. 1" Sanne Manders, president of international at Flexport, told FreightWaves. "Right now, there are two vessels trapped: the ship that caused the collision and another general cargo container vessel that is currently trapped."

The Port of Baltimore is the deepest harbor in Maryland's Chesapeake Bay, with five public and 12 private terminals. The port administration did not immediately respond to a request for comment. Port officials posted on social media that they do not know how long ship traffic in and out of the port will be suspended, although trucks are still being processed.

The Francis Scott Key Bridge collapsed early Tuesday morning after being struck by the MV Dali container ship.

Manders said another important consideration is the scores of commercial vessels that regularly call at the Port of Baltimore.

"In the next few weeks, 107 vessels will not be able to call that port and will have to divert to other ports" Manders said. "The question is, are other ports able to absorb that capacity? The reality is that Baltimore is an important port, but for containerized trade, it is relatively small."

In 2023, the Port of Baltimore handled $80.8 billion in trade, including 1.1 million twenty-foot equivalent units, 1.3 million tons of roll-on/roll-off farm and construction machinery, 11.7 million tons of general cargo, and 847,158 shipments of cars and light trucks.

A number of major companies have distribution warehouses and other facilities at or near the port, including Amazon (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amzn#NASDAQ">AMZN</a>), FedEx (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fdx#NYSE">FDX</a>) and BMW (OTC: <a class="ticker" href="https://www.benzinga.com/stock/bmwyy#OTC">BMWYY</a>).

In Maryland, most of the freight is regional, with about 36% of trucking tender volume staying in the state. An additional 22% goes to Pennsylvania and 15% goes to Virginia.

Rachel Shames, vice president of pricing and procurement for CV International, a Norfolk, Virginia-based international logistics and transportation company, wrote in a market update that the collision is expected to create a temporary increase in cargo volume at other East Coast ports.

"The full impacts of this disaster are not yet known, but it's likely that nearby East Coast ports, including Norfolk, Philadelphia, New York and others will absorb cargo traffic from Baltimore in the short term" Shames wrote. "This sudden increase in volume may strain operations at other ports."

<img alt="otms.bal_.jpg" src="https://www.benzinga.com/files/u1593113/otms.bal_.jpg" />

Baltimore is the 24th-largest outbound trucking market in the U.S., currently totaling about 1.24% of all tractor-trailers, according to FreightWaves SONAR's Outbound Tender Market Share Index (OTMS.BWI).

Manders said what makes the Port of Baltimore unique is the volume of roll-on/roll-off cargo it handles, such as passenger vehicles, along with agricultural and industrial equipment.

"Then you're also getting into agricultural exports — rice, sugar, fertilizers, forestry products. It's pretty big in Baltimore. Then there's also a big paper industry there and construction materials" Manders said. "I do think in other commodities and cars, this will have a major impact. There are also some metal exchange warehouses for nickel, tin and copper in Baltimore. Now those can also be moved to other ports, but those are bulky materials, and they don't move them very easily."

Jeff Leppert, executive vice president of modal operations at Redwood Logistics, said some of the company's shipper customers have several ships currently stuck at the port.

"Other impacts include the Port of Baltimore's fueling depot, which is currently unable to take fueling shipments for the near future" Leppert told FreightWaves. "The stretch of I-695 that collapsed with the bridge is the only hazmat-approved bridge in the area, so those shipments will have a large diversion in the region and beyond."

He said all deep-water ships, vessels with a controlling depth of 50 feet, will have to be diverted to ports such as Norfolk and New York/NewJersey.

"We are currently working with all of our shipping customers to find solutions now and for the coming months" Leppert said.

The Mediterranean Shipping Co. and Zim Integrated Shipping Services Ltd. are two of the Port of Baltimore's largest shipping lines. Neither company immediately responded to a request for comment from FreightWaves.

Paul Brashier, vice president of drayage and intermodal at ITS Logistics, said the priority right now is to ensure clients are making plans for containers that were originally routed to Baltimore.

"These shipments will be discharged to other ports on the Eastern Seaboard" Brashier said. "This also means that we must prepare trucking and transload capacity to be able to transport the impacted freight to the appropriate initial location."

The post <a href="https://www.freightwaves.com/news/baltimore-bridge-collapse-may-cost-billions-dramatically-disrupt-supply-chains">Baltimore bridge collapse may cost billions, dramatically disrupt supply chains</a> appeared first on <a href="https://www.freightwaves.com">FreightWaves</a>.

AMZN

Baltimore Bridge Collapse May Cost Billions, Dramatically Disrupt Supply Chains

Jefferies analyst Philippe Houchois downgrades BMW (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BMWYY#OTC">BMWYY</a>) from Buy to Hold.

Jefferies Downgrades BMW to Hold

Analog Devices Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADI#NASDAQ">ADI</a>) and&nbsp;Bayerische Motoren Werke AG&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/BMWYY#OTC">BMWYY</a>) BMW Group&nbsp;have partnered to adopt E²B, ADI&#8217;s 10BASE-T1S Ethernet to Edge bus&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/03/n37502889/adi-and-the-bmw-group-join-forces-to-provide-industry-leading-10mb-ethernet-for-automotive-enablin" rel="noreferrer noopener">technology within the automotive industry</a>.
Ethernet connectivity is a key enabler of new, zonal architectures in automotive design and supports software-defined vehicles.
The BMW Group will be a leading original equipment manufacturer (OEM) to implement the technology.
Also, ADI&#8217;s E²B will be used in ambient lighting system design in the vehicles of the BMW Group in the future.&nbsp;&nbsp;
ADI has been working with BMW since 2018 to simplify bringing Ethernet to the Edge.
&#8220;We continue to deeply engage with the BMW Group to understand their next-generation needs and bring further optimized products to aid next-generation architectures, as well as bring continued cooperation on standardization,&#8221; said Yasmine King, Vice President, Automotive Cabin Experience at ADI.
With 10BASE-T1S with E²B technology, OEMs can synchronize lighting with other applications in the vehicle.
Price Action: ADI shares traded higher by 1.78% at $193.17 on the last check Wednesday.
Photo by Sklo Studio on Shutterstock

Contracts

BMW Shifts Gears with Analog Devices' E²B Ethernet Technology For Enhanced Vehicle Connectivity

&nbsp;<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4108577-1&amp;h=225400040&amp;u=https%3A%2F%2Fwww.analog.com%2Fen%2Findex.html%3Fadicid%3Dprls_na_p1157700_ADI_BMW&amp;a=Analog+Devices%2C+Inc." target="_blank">Analog Devices, Inc.</a>&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADI#NASDAQ">ADI</a>) and the BMW Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BMWYY#NASDAQ">BMWYY</a>) today announced an early adoption of E&sup2;B&trade;, ADI&#39;s 10BASE-T1S Ethernet to the Edge bus technology within the automotive industry. Automotive Ethernet connectivity is a key enabler of new, zonal architectures in automotive design and supports automotive megatrends such as software-defined vehicles. The BMW Group will be a leading original equipment manufacturer (OEM) to implement the technology, leveraging ADI&#39;s E&sup2;B for their ambient lighting system design in the vehicles of the BMW Group in the future.&nbsp;&nbsp;

Analog Devices And The BMW Group Partner To Provide Industry-Leading 10MB Ethernet For Automotive, Enabling Software-Defined Vehicles

In a bold move to bolster its electric vehicle market share,&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/01/36557059/bmw-surges-ahead-in-ev-market-hitting-15-bev-sales-goal-in-2023-plans-to-sell-over-half-a-millio" rel="noreferrer noopener">German automaker&nbsp;BMW</a>&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/BMWYY#OTC">BMWYY</a>) has rolled out a unique program offering a $1,000 incentive to certain EV owners to switch to BMW&#8217;s electric models.
What Happened:&nbsp;As reported by&nbsp;<a target="_blank" href="https://www.carsdirect.com/deals-articles/bmw-paying-1-000-to-tesla-lucid-rivian-owners-to-switch-brands" rel="noreferrer noopener">CarsDirect</a>, BMW has launched the 2024 BEV Conquest Program, a strategic initiative that offers $1,000 to owners of EVs from brands such as&nbsp;Audi,&nbsp;Mercedes-Benz,&nbsp;Polestar,&nbsp;Porsche,&nbsp;Tesla,&nbsp;Rivian, and&nbsp;Lucid, among others, to switch to a BMW i4, i5, or iX. The offer is also open to owners of the&nbsp;Ford&nbsp;Mustang Mach-E and&nbsp;Volkswagen&nbsp;ID.4.
See Also:&nbsp;<a target="_blank" href="https://www.benzinga.com/money/best-electric-vehicle-stocks" rel="noreferrer noopener">Best Electric Vehicle Stocks</a>
This regional offer, available in western states until April 1, does not necessitate current EV owners to trade in their vehicles and the incentive can be stacked with other BMW offers.&nbsp;
BMW&#8217;s approach is unique in its focus on all-electric vehicle owners from competing brands, allowing them to combine incentives. For example, BMW is currently offering a $7,500 lease credit for the 2024 BMW i4, potentially saving eligible EV owners up to $8,500.
The new $1,000 BEV Conquest Program is designed to provide more competitive pricing on BMW&#8217;s advanced and futuristic vehicles, which tend to be more expensive than their competitors.
Why It Matters: This move by BMW comes when other automakers are also ramping up incentives to attract customers in a <a href="https://www.benzinga.com/government/24/02/37332037/us-on-track-for-50-ev-sales-by-2030-despite-recent-slowdown-says-energy-secretary-whats-behind-her-o" target="_blank" rel="noreferrer noopener">market showing signs of a slowdown</a>. For instance, Tesla recently offered 5,000 miles of free supercharging for users trading in their older vehicles for a new Tesla. 
Last month, Tesla CEO&nbsp;Elon Musk&nbsp;explained&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/02/37062013/tesla-ceo-elon-musk-explains-model-y-price-cuts-since-most-people-dont-love-to-buy-cars" rel="noreferrer noopener">a temporary price cut</a>&nbsp;on its best-selling Model Y SUV as an attempt to increase vehicle deliveries despite the seasonal lull in demand.
Read Next: <a href="https://www.benzinga.com/top-stories/24/03/37465600/driver-crashes-tesla-cybertruck-on-first-day-damaging-beverly-hills-hotel?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Driver Crashes Tesla Cybertruck On First Day, Damaging Beverly Hills Hotel</a>
Photo by Sklo Studio on Shutterstock
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Legacy Automaker Offers $1,000 Incentive To Lure Tesla, Rivian, Lucid Owners As EV War Heats Up In Slowing Market

The electric vehicle (EV) market has been a hotbed of investor activity, with Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) being a prime focus. However, a prominent fund manager has advised against investing in EV stocks and suggested alternative options.
What Happened: Freddie Lait, the Chief Investment Officer at Latitude Investment Management, expressed skepticism about the EV sector during a recent <a href="https://www.cnbc.com/2024/03/05/-skip-ev-stocks-and-trade-these-instead-fund-manager-says-.html">interview</a> with CNBC. He pointed out that despite the significant initial investments, most EV companies are yet to turn a profit. Lait predicted that it would take another three to five years to identify the successful players in the EV industry.
"EVs really took off and captured our mindshare 5, 6, 7 years ago, [but] they're not really successful yet. I think it's still going to another three to five years until we know who the winners in electric vehicles are," Lait said.
He also advised against investing in EV automakers, including Tesla, predicting that the race to develop EVs would be unprofitable for many companies. Instead, Lait recommended focusing on established companies like Ferrari (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RACE#NYSE">RACE</a>), General Motors Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>), Volkswagen (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VWAGY#OTC">VWAGY</a>), and BMW (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BMWYY#OTC">BMWYY</a>).
"We don't own any of the [EV] auto manufacturers and I think the arms race to develop EVs is going to be profitless for a lot of these businesses, including Tesla. So, I would avoid it all, I'm afraid."
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/03/37429671/dogecoin-killer-shiba-inu-explodes-for-60-weekly-gain-this-indicator-shows-golden-cross?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Dogecoin Killer&#8217; Shiba Inu Explodes For 60% Weekly Gain: This Indicator Shows Golden Cross</a>
Lait particularly praised Ferrari&#8217;s "phenomenal business," citing its recent 17% revenue increase and optimistic outlook for 2024. Despite being renowned for its supercars, Ferrari is planning to launch its first all-electric vehicle in 2025.
Why It Matters: This advice from Lait comes at a time when the EV industry is experiencing significant shifts. Tesla, a key player in the market, has been the subject of <a href="https://www.benzinga.com/markets/equities/24/01/36676833/jim-cramer-predicts-tesla-would-be-first-to-fall-from-magnificent-7-stock-group-we-have-a-ceo-ge">concerns about sustainability</a> from industry experts. Additionally, other major EV companies like BYD (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDF#OTC">BYDDF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) have seen a <a href="https://www.benzinga.com/news/24/03/37437656/warren-buffett-backed-byd-reports-37-drop-in-february-sales-breaking-growth-streak">significant drop in sales</a>, raising questions about the industry&#8217;s future.
On the other hand, traditional automakers are making significant strides in the EV market. Companies like General Motors have announced ambitious plans to <a href="https://www.benzinga.com/news/24/02/36973063/ford-labels-tesla-chinese-rivals-as-ultimate-competition-as-it-adopts-gm-hybrid-playbook-sharpens-fo">expand their EV production</a>, indicating a potential shift in the industry landscape.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/03/37443940/bitcoin-shines-dogecoin-sparkles-dogwifhat-skyrockets-the-week-in-retrospect?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin Shines, Dogecoin Sparkles, Dogwifhat Skyrockets: The Week In Retrospect</a>
Image: Nerijus jakimavičius from Pixabay
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 Engineered by Benzinga Neuro, Edited by 
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BYDDF

RACE

Fund Manager Says He 'Would Avoid' Tesla, But Recommends These 'Phenomenal' Auto Stocks: 'Race To Develop EVs Is Going To Be Profitless...'

Plug Power Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/plug#NASDAQ">PLUG</a>), a leading provider of comprehensive hydrogen fuel cell (HFC) turnkey solutions, recently finalized an agreement with a&nbsp;major U.S. automobile manufacturer (not <a href="https://www.benzinga.com/pressreleases/24/02/g37232523/plug-finalizes-contract-to-support-a-major-u-s-automobile-manufacturers-material-handling-operatio">named</a> in the press release)&nbsp;to supply hydrogen infrastructure and fuel cell solutions, which will support its material handling operations.
The six-square-mile manufacturing campus is entirely devoted to EVs and batteries, making it one of the largest automotive manufacturing facilities in the history of the U.S.
The entire material handling fleet at the manufacturing facility, which comprises forklifts and tuggers, will operate on Plug Power&nbsp;fuel cells. Alongside the fuel cell fleet, the deal also encompasses the provision of on-site hydrogen infrastructure, including two liquid hydrogen storage tanks and more than 10&nbsp;hydrogen dispensers to prepare for the expansion of hydrogen applications.
Plug Power&#39;s&nbsp;hydrogen fuel cells are a viable substitute for any battery solution in electric forklifts. The incorporation of fuel cell solutions at this facility is expected to enhance productivity, improve operational efficiency, and ensure maximum fleet uptime while contributing to the reduction of greenhouse gas emissions.
Plug Power has established itself as a reliable partner in advancing sustainable material handling operations for top-tier auto manufacturers, including long-standing partnerships with industry leaders such as Bayerische Motoren Werke ADR&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/bmwyy#OTC">BMWYY</a>), Honda Motor Co Ltd (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hmc#NYSE">HMC</a>), General Motors Co (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gm#NYSE">GM</a>)&nbsp;and Stellantis NV (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/stla#NYSE">STLA</a>).
These enduring collaborations reflect Plug Power&rsquo;s commitment to environmental responsibility and operational efficiency.
In 2024, Plug Power is scheduled to commence the installation and activation of the hydrogen infrastructure, setting the stage for the facility&rsquo;s launch. The campus is anticipated to be fully operational by the first quarter of 2025, with production unfolding in a carefully planned manner to ensure a seamless and efficient ramp-up to full-scale operations.
&ldquo;This new partnership further strengthens our track record of success in the automotive industry, marking a significant leap in promoting sustainability within the sector,&rdquo; said Plug Power&nbsp;CEO Andy Marsh.
Can this Development Improve Plug Power&#39;s Prospects?&nbsp;Plug Power&#39;s stock has taken a substantial hit, plummeting more than 26% since the start of the year and a staggering 77% over the past year.&nbsp;There are&nbsp;myriad factors contributing to this disappointing downturn.
Securing funding to sustain its operations remains a daunting challenge for Plug Power, particularly given the persistently high-interest rates. To keep its commitments to customers, Plug Power&nbsp;has had to invest heavily in purchasing hydrogen due to delays in constructing its production facilities. The company&rsquo;s cash reserves reduced significantly from $690.63 million at the close of 2022 to a mere $110.81 million as of Sept.&nbsp;30, 2023.
Despite commencing hydrogen shipments from its newly established green hydrogen plant in Georgia and its Tennessee facility, the absence of profitability coupled with funding constraints provided&nbsp;little incentive for investors to laud the company for its recent contract triumphs.
Furthermore, trading at 2.26 times its trailing 12-month sales, the potential downside risk appears substantial, potentially eclipsing any glimmer of upside potential.
Bottom Line: Despite recent strategic partnerships and investments, the green hydrogen company continues to struggle with massive net losses and cash burn. To tackle its declining profitability, Plug Power announced an expense reduction plan to save more than $75 million annually.
The stock is anticipated to face headwinds until there is greater certainty regarding its funding and a more favorable trajectory in its hydrogen production and shipment endeavors.
Photo: Shutterstock

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PLUG

STLA

Plug Power Secures Contract With Major US Auto Firm: Here's What It Means For Investors

Super Bowl LVIII aired on Sunday, Feb. 11, 2024 and saw the Kansas City Chiefs defeat the San Francisco 49ers in overtime to win back-to-back <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/02/37063011/tesla-bull-slams-short-term-thinking-as-ev-maker-holds-back-from-super-bowl-ads-aga">National Football League championships.</a>
The game also featured dozens of commercials advertising products and showcasing new movies and television shows. The commercials also featured many celebrity cameos.
What Happened: Super Bowl LVIII commercials were priced at around $7 million for a 30-second slot. The game aired on CBS and Nickelodeon and streamed on Paramount+, which are units of Paramount Global Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARAA#NASDAQ">PARAA</a>).
The game going into overtime may have resulted in extra advertisements being aired during this year&#8217;s Super Bowl.
This author tracked all the commercials, from the singing of the National Anthem to the final round of ads after the Chiefs won the Super Bowl. The commercials may have been region-specific in some cases and come from a streaming broadcast in the Michigan market. Nickelodeon aired different ads in some cases, choosing to cut out certain sectors like sports betting and alcohol from the family-friendly broadcast.
Here are the Super Bowl LVIII commercials and the companies behind them.
<ul>
<li>"A Quite Place: Day One" movie trailer from Paramount</li>
<li>Dr. Pepper commercial, owned by Keurig Dr Pepper Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KDP#NASDAQ">KDP</a>)</li>
<li>TurboTax with Quinta Brunson, unit of Intuit Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTU#NASDAQ">INTU</a>)</li>
<li>Several ads for Paramount shows like "NCIS," "NCIS Hawaii" and the Big Ten on CBS</li>
<li>FanDuel Kick of Destiny from Rob Gronkowski, unit of Flutter Entertainment (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLUT#NYSE">FLUT</a>)</li>
<li>"Deadpool 3" trailer teaser from The Walt Disney Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>)</li>
<li>Veozah from pharmaceutical company Astellas</li>
<li>YouTubeTV, NFL Sunday Ticket ad from Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>)</li>
<li>"Wicked" movie trailer from Comcast Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>)</li>
<li>M&amp;Ms commercial</li>
<li>Dove, a unit of Unilever (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UL#NYSE">UL</a>)</li>
<li>"Ghosts" show on CBS</li>
<li>"Kingdom of the Planet of the Apes" movie trailer, Disney</li>
<li>BetMGM ad from MGM Resorts International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGM#NYSE">MGM</a>) and Entain, starring Vince Vaughn, Tom Brady and Wayne Gretzky</li>
<li>He Gets Us LLC religious ad</li>
<li>Mountain Dew Baja Blast ad with Aubrey Plaza, beverage is a unit of PepsiCo (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NYSE">PEP</a>)</li>
<li>Lindt</li>
<li>Kawasaki</li>
<li>Popeye's ad with Ken Jeong, restaurant is owned by Restaurant Brands International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QSR#NYSE">QSR</a>)</li>
<li>Apartments.com ad, is a unit of CoStar Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSGP#NASDAQ">CSGP</a>)</li>
<li>Pringles with Chris Pratt, owned by Kellanova (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/K#NYSE">K</a>)</li>
<li>Michelob Ultra with Lionel Messi, Dan Marino, Jason Sudeikis, beverage is unit of Anheuser-Busch InBev (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BUD#NYSE">BUD</a>)</li>
<li>Temu, unit of PDD Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>)</li>
<li>CeraVe with Michael Cera, owned by L'Oreal</li>
<li>Starry with Ice Spice, beverage is a unit of PepsiCo</li>
<li>BMW (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BMWYY#OTC">BMWYY</a>) with Christopher Walken</li>
<li>State Farm with Arnold Schwarzenegger</li>
<li>Nerds</li>
<li>"Twisters" movie trailer from Comcast</li>
<li>Booking.com with Tina Fey, Glenn Close, unit of Booking Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKNG#NASDAQ">BKNG</a>)</li>
<li>Homes.com with Daniel Levy, Lil Wayne and more, unit of CoStar Group</li>
<li>T-Mobile with Bradley Cooper and mother and several other celebrities, unit of T-Mobile US (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>)</li>
<li>Coors Light with LL Cool J and Lainey Wilson, unit of Molson Coors Beverage Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAP#NYSE">TAP</a>)</li>
<li>FanDuel ad, unit of Flutter Entertainment</li>
<li>Temu ad (same ad as before)</li>
<li>Oreos, unit of Mondelez International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDLZ#NASDAQ">MDLZ</a>)</li>
<li>eTrade babies playing pickleball, unit of Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>)</li>
<li>Hellmann's, unit of Unilever</li>
<li>"Halo" season 2 trailer from Paramount</li>
<li>Reese's, unit of The Hershey Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>)</li>
<li>Squarespace (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQSP#NYSE">SQSP</a>) ad directed by and starring Martin Scorsese</li>
<li>Bass Pro Shops</li>
<li>"Knuckles" series trailer from Paramount</li>
<li>"Tracker" series trailer from Paramount</li>
<li>Dunkin' Donuts ad with Ben Stiller, Matt Damon, Tom Brady, Jennifer Lopez</li>
<li>He Gets Us LLC religious ad</li>
<li>"Shogun" series promo on FX, unit of Disney</li>
<li>"Young Sheldon," promo from Paramount</li>
<li>TurboTax ad from Intuit</li>
<li>CrowdStrike Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) with an ad on cyberattacks</li>
<li>Google AI ad from Alphabet</li>
<li>"The Family Stallone" promo from Paramount</li>
<li>Snapchat's first ever Super Bowl ad, unit of Snap Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>)</li>
<li>Robert F. Kennedy Jr. 2024 election ad from American Values PAC</li>
<li>Poppi beverage</li>
<li>"Tracker" trailer from Paramount</li>
<li>Oikos, unit of Danone</li>
<li>HelloFresh with Keke Palmer</li>
<li>Hoka shoes, unit of Deckers Outdoor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DECK#NYSE">DECK</a>)</li>
<li>e.l.f. Beauty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELF#NYSE">ELF</a>) with Judge Judy, aka Judge Beauty</li>
<li>Etsy Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETSY#NASDAQ">ETSY</a>)</li>
<li>Apple Music Halftime Show with Usher from Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>)</li>
<li>NFL Africa ad</li>
<li>Paramount Mountain with several Paramount series characters, NFL star Tua Tagovailoa</li>
<li>Pluto TV streaming from Paramount</li>
<li>Silk, unit of Danone</li>
<li>Instacart, unit of Maplebear (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CART#NASDAQ">CART</a>)</li>
<li>U.S. Army</li>
<li>Stok Cold Brew Coffee with Anthony Hopkins, unit of Danone</li>
<li>Verizon (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>) with Beyonce</li>
<li>Uber Eats with David Beckham, Victoria Beckham, David Schwimmer, Jennifer Aniston and Jelly Roll, unit of Uber Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>)</li>
<li>Pluto TV streaming from Paramount</li>
<li>Pfizer (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>)</li>
<li>Skechers (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SKX#NYSE">SKX</a>) with Tony Romo and Mr. T</li>
<li>Bud Light with Peyton Manning, Post Malone, unit of Anheuser-Busch InBev</li>
<li>Toyota Motor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TM#NYSE">TM</a>)</li>
<li>Temu (same ad as previous)</li>
<li>Doritos, unit of PepsiCo</li>
<li>Volkswagen (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VWAGY#OTC">VWAGY</a>)</li>
<li>Homes.com, unit of CoStar Group</li>
<li>"IF" movie trailer from Paramount</li>
<li>"NCIS" series promo from Paramount</li>
<li>NFL Shop</li>
<li>NFL ad</li>
<li>Ring, unit of Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>)</li>
<li>Ally Bank, unit of Ally Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALLY#NYSE">ALLY</a>)</li>
<li>United States Postal Service</li>
<li>Starbucks Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>)</li>
<li>Samsung (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>)</li>
<li>Kia</li>
<li>Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) highlighting Copilot artificial intelligence</li>
<li>Homes.com, unit of CoStar Group</li>
<li>Disney+ from Disney</li>
<li>Budweiser, unit of Anheuser-Busch InBev</li>
<li>T-Mobile with Donald Faison, Zach Braff and Jason Momoa</li>
<li>DoorDash Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DASH#NASDAQ">DASH</a>)</li>
<li>Champions League soccer on Paramount</li>
<li>Commercials after this point were after the game went into overtime</li>
<li>Progressive Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGR#NYSE">PGR</a>)</li>
<li>Discovery Financial Services (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DFS#NYSE">DFS</a>)</li>
<li>"Monkey Man" trailer from Comcast</li>
<li>"Kung Fu Panda 4" trailer from Comcast</li>
<li>State Farm (same ad as before)</li>
<li>Temu (same ad as before)</li>
<li>Verizon with Beyonce (same ad as before</li>
<li>Amazon Web Services from Amazon.com Inc</li>
<li>NFL Shop</li>
<li>Instacart</li>
</ul>
Now Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/02/37075060/bitcoin-breaks-50-000-mark-fueled-by-etf-inflows">Bitcoin Breaks $50,000 Mark, Fueled By ETF Inflows</a>
Photo: Shutterstock

Sports

ALLY

BKNG

CART

CMCSA

CRWD

CSGP

DASH

DECK

ETSY

FLUT

GOOG

GOOGL

INTU

MDLZ

MSFT

PARA

PARAA

Citigourp Global Markets 2% Protected Notes Linked To The Djia

SBUX

SNAP

SQSP

SSNLF

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Shareholders of Chinese <a href="https://investorplace.com/industries/consumer-discretionary/automotive/electric-vehicles/">electric vehicle</a> (EV) stocks like Nio (NYSE:<a href="https://investorplace.com/stock-quotes/nio-stock-quote/">NIO</a>), Li Auto (NASDAQ:<a href="https://investorplace.com/stock-quotes/li-stock-quote/">LI</a>) and XPeng (NYSE:<a href="https://investorplace.com/stock-quotes/xpev-stock-quote/">XPEV</a>) will want to mark their calendars for July 4. That is the day when provisional European Union duties between 17.4% and 38.1% on imported China-made EVs are <a href="https://www.reuters.com/markets/china-wants-eu-scrap-ev-tariffs-evs-by-july-4-chinese-state-media-reports-2024-06-24/?utm_source=Sailthru&amp;utm_medium=Newsletter&amp;utm_campaign=Daily-Briefing&amp;utm_term=062424&amp;user_email=4d98a7d45161ba61f615262f11214a6468953f044d39f6ffe55687d5eba6950b&amp;lctg=614e1f902369cf11f706ee65">set to become active</a>. This would supplement an <a href="https://www.nytimes.com/2024/06/12/business/eu-chinese-ev-tariffs-explained.html">existing 10% duty</a> on the vehicles.



<a href="https://www.reuters.com/business/autos-transportation/what-happens-next-eu-investigation-into-chinese-evs-2024-06-21/">Provisional duties</a> can be active for up to four months. Afterwards, the EU will decide on whether it will enact final, or definitive, duties. The EU&rsquo;s deadline for its provisional duties on Chinese EVs, if enacted, is Nov. 3. In addition, provisional duties are only realized if definitive duties follow. 



&ldquo;If definitive duties are lower or not applied, then provisional duties are adjusted down accordingly,&rdquo; explains Reuters. &ldquo;Until then, customs authorities normally just require a bank guarantee from importers.&rdquo;



The EU wants to enact these tariffs due to China&rsquo;s subsidization of its EVs, which threatens domestic production and sales. 



<h2>Chinese EV Stocks: Mark Your Calendars for July 4</h2>



That said, the EU&rsquo;s European Commission and China have already agreed to engage in negotiations to discuss the tariffs, with China hoping to put a stop to them before they become active. The two parties will meet in Brussels this week.



&ldquo;The EU side has emphasised that any negotiated outcome of the investigation must be effective in addressing the injurious subsidisation,&rdquo; said a European Commission spokesperson.



Both sides of the equation are at risk here. With China still reeling from recent tariffs imposed by the U.S., additional tariffs will only weaken its EV dominance.



Meanwhile, the EU is at risk because China could retaliate if the tariffs are imposed. That could mean trouble for European automakers like Mercedes Benz (OTCMKTS:<a href="https://investorplace.com/stock-quotes/mbgyy-stock-quote/">MBGYY</a>) and BMW (OTCMKTS:<a href="https://investorplace.com/stock-quotes/bmwyy-stock-quote/">BMWYY</a>).



Many European automakers have large footprints and production facilities in China. That could pose a problem if China decides to clap back with tariffs on these companies.



&ldquo;This decision for additional import duties is the wrong way to go,&rdquo; said BMW CEO Oliver Zipse, per The New York Times.



For now, shareholders of Chinese EV stocks will just have to wait patiently for the next update.



On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>. 
<div>Eddie Pan specializes in institutional investments and insider activity. He writes for InvestorPlace&rsquo;s Today&rsquo;s Market team, which centers on the latest news involving popular stocks.</div><h3>More From InvestorPlace</h3>
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	The post <a href="https://investorplace.com/2024/06/chinese-ev-stocks-eye-july-4-deadline-in-european-tariff-war/">Chinese EV Stocks Eye July 4 Deadline in European Tariff War</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Chinese EV Stocks Eye July 4 Deadline in European Tariff War

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
The electric vehicle industry has been struggling, and it is easy to argue that most <a href="https://investorplace.com/industries/consumer-discretionary/automotive/electric-vehicles/">EV stocks</a> are worth selling at this point. Rate cuts are unlikely to be fast enough, barring a recession, which would be even worse for EVs. With that in mind, it makes sense to look for EV stocks to sell before the lights go out.



EV startups should be the top candidates if you are looking for EV stocks to sell. These companies have been some of the worst performers in the market so far. They are perpetually diluting their shareholders and burning huge amounts of cash with only a few dozen units to show for it. And, even those units are sold at negative margins.



With that in mind, here are seven EV stocks to sell. 



<h2>VinFast Auto (VFS)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/08/vfs1600-300x169.png" alt="Person holding mobile phone with logo of Vietnamese car manufacturer VinFast (VFS) on screen in front of business web page. Focus on phone display. Unmodified photo."><div>Source: T. Schneider / Shutterstock.com</div></div>VinFast Auto (NASDAQ:<a href="https://investorplace.com/stock-quotes/vfs-stock-quote/">VFS</a>) is a Vietnamese electric vehicle manufacturer that has seen its hype train derail spectacularly over the past year. Once touted as a potential EV juggernaut, VinFast&rsquo;s dirt-cheap labor costs and massive addressable market in Southeast Asia had investors salivating over its export potential.



However, the curtain has been pulled back to reveal a company hemorrhaging cash at an alarming rate with no clear path to profitability. In Q1, VinFast delivered a <a href="https://www.bloomberg.com/news/articles/2024-04-17/ev-maker-vinfast-s-first-quarter-loss-narrows-even-as-sales-fall" target="_blank">paltry 9,689 vehicles</a> globally, a rounding error compared to established automakers. While this represented 444% year-over-year growth, it&rsquo;s building from an extremely low base.



Management&rsquo;s full-year target of 100,000 deliveries seems like a pipe dream, considering the sluggish 2,421 quarterly run rate. VinFast&rsquo;s VF 5 and VF 6 models accounted for the bulk of sales.



Despite management&rsquo;s rosy outlook, macroeconomic headwinds and fading EV exuberance will likely keep VinFast&rsquo;s sales stuck in neutral for the foreseeable future. I have little confidence this cash-burning machine can achieve sustainable profitability before diluting equity holders into oblivion.



<h2>Lucid Group (LCID)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/03/lcid1600-2-300x169.png" alt="Lucid Air Touring sedan display at the Service Center. Lucid Motors (LCID) is a manufacturer of luxury EV Electric Vehicles."><div>Source: Jonathan Weiss / Shutterstock.com</div></div>Lucid Group (NASDAQ:<a href="https://investorplace.com/stock-quotes/lcid-stock-quote/">LCID</a>) manufactures luxury electric vehicles, but I believe this EV startup is a prime example of a struggling company that investors should avoid. Saudi money is unlikely to keep it afloat forever.



In Q1, Lucid missed on both the top and bottom-lines, with <a href="https://www.fool.com/data-news/2024/05/07/lucid-motors-comes-up-short-of-expectations-in-q1/#:~:text=Lucid%20Group&amp;text=On%20the%20bottom%20line%2C%20the,the%20forecast%20of%20%24173.5%20million.&amp;text=Data%20sources%3A%20Company%20results%20from%20company." target="_blank">EPS of -30 cents missing by 5 cents</a> and revenue of $172.74 million missing by $9.74 million. While deliveries were up 39.9% YOY, Lucid only expects to produce about 9,000 vehicles in 2024. That&rsquo;s a drop in the bucket compared to Tesla&rsquo;s (NASDAQ:<a href="https://investorplace.com/stock-quotes/tsla-stock-quote/">TSLA</a>) production.



Sure, Lucid touts its superior technology and steadfast support from Saudi Arabia&rsquo;s PIF. But the reality is that this company is burning cash at an alarming rate. Lucid had to raise another $1 billion just to keep the lights on this quarter, and it will need more!



Even with the U.S. subsidies and tariffs currently propping up American EV companies, I don&rsquo;t believe Lucid can compete with Tesla in the long run. Throw in the uncertainty around the 2024 elections and potential rollback of EV subsidies, and Lucid looks like a sinking ship.



<h2>Faraday Future Intelligent Electric (FFIE)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/05/ffie1600-5-300x169.png" alt="Mobile phone with logo of electric vehicle company Faraday Future Inc. on screen in front of website. Focus on center-right of phone display. Unmodified photo. FFIE stock"><div>Source: T. Schneider / Shutterstock.com</div></div>Faraday Future (NASDAQ:<a href="https://investorplace.com/stock-quotes/ffie-stock-quote/">FFIE</a>) develops and manufactures ultra-luxury electric vehicles, but that&rsquo;s about the only positive thing I can say about this struggling company. The company <a href="https://www.barrons.com/articles/faraday-future-stock-price-plunge-f40e42e6" target="_blank">delivered a measly 11 vehicles to date</a>. That&rsquo;s not a typo. The company&rsquo;s flagship FF 91 2.0 costs an eye-watering $309,000, which is enough to buy nearly six Teslas with similar specs. It&rsquo;s hard to imagine any significant demand at those astronomical prices, especially considering the FF 91 is already outdated by several years in its capabilities.



Faraday Future&rsquo;s financials paint an even bleaker picture. The company racked up a staggering $1.5 billion in net losses over the past three years while burning through cash at an alarming rate. As of now, Faraday has less than $2 million in cash remaining, which is barely enough to keep the lights on, let alone scale vehicle production.



<div><a href="https://investorplace.com/wp-content/uploads/2024/06/chart-2024-06-25t185121.391.png"><img width="1200" height="628" src="https://investorplace.com/wp-content/uploads/2024/06/chart-2024-06-25t185121.391.png" alt="FFIE cash losses chart. EV stocks to sell"> Click to Enlarge</a><div>Source: Chart courtesy of <a href="https://GuruFocus.com">GuruFocus.com</a></div></div>To make matters worse, Faraday Future is caught in a vicious cycle of dilution and reverse stock splits that are rapidly eroding shareholder value. In fact, management just <a target="_blank" href="https://www.benzinga.com/markets/equities/24/06/39473668/whats-going-on-with-faraday-future-shares-tuesday">proposed</a> another reverse split ranging between 1-for-2 to 1-for-40 shares. That&rsquo;s not the kind of financial engineering that instills confidence.



Given these immense challenges, I struggle to see how Faraday Future can avoid bankruptcy in the coming months. The company is essentially trying to sell an overpriced, outdated product to a minuscule market while hemorrhaging cash. That&rsquo;s a recipe for disaster in my book, placing FFIE among EV stocks to sell.



<h2>Nikola (NKLA)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/04/nkla1600-300x169.png" alt="Nikola (NKLA) company logo on a website with blurry stock market developments in the background, seen on a computer screen through a magnifying glass."><div>Source: Dennis Diatel / Shutterstock.com</div></div>Nikola Corporation (NASDAQ:<a href="https://investorplace.com/stock-quotes/nkla-stock-quote/">NKLA</a>) manufactures electric and hydrogen-powered trucks. The company reported a disappointing Q1 2024, with <a href="https://www.reuters.com/business/autos-transportation/ev-truck-maker-nikola-misses-first-quarter-revenue-estimates-2024-05-07/" target="_blank">revenue of just $7.5 million</a>, missing estimates by a staggering $7.83 million. This 32.56% YOY decline highlights the immense challenges Nikola faces in its niche market.



I believe Nikola&rsquo;s focus on electric and hydrogen trucks is simply too far ahead of its time. The technology isn&rsquo;t there yet to make these vehicles viable for most companies. Battery limitations severely hinder the practicality of electric trucks, while hydrogen infrastructure remains scarce. Nikola&rsquo;s venture into EV military vehicles seems even more far-fetched in the current landscape.



The company&rsquo;s future looks bleak, with mounting losses and dwindling cash reserves. Nikola burned through $131 million in Q1 alone. I wouldn&rsquo;t be surprised to see them file for bankruptcy protection in the coming quarters as they struggle to stay afloat.



Unless EV subsidies ramp up significantly, I don&rsquo;t see how Nikola can compete against traditional trucks. Companies adopting Nikola&rsquo;s offerings would likely destroy their bottom-lines.



<h2>Rivian Automotive (RIVN)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/04/rivn1600-10-300x169.png" alt="Rivian (RIVN) logo is seen at a Rivian service center in South San Francisco, California. Rivian Automotive, Inc. is an electric vehicle automaker."><div>Source: Tada Images / Shutterstock.com</div></div>Rivian Automotive (NASDAQ:<a href="https://investorplace.com/stock-quotes/rivn-stock-quote/">RIVN</a>) builds and sells electric pickup trucks, SUVs and delivery vans. Despite growing its market share to 5.1% and becoming the fifth best-selling EV maker in the U.S. in Q1, I believe Rivian faces an uphill battle. The company posted a staggering <a href="https://markets.businessinsider.com/news/stocks/can-rivian-stock-cross-the-electric-vehicle-death-valley-1033498012#:~:text=Rivian%27s%20net%20loss%20for%20the,June%2027%20%E2%80%9CInvestor%20Day.%E2%80%9D" target="_blank">net loss of $1.45 billion</a> in the quarter, which is simply unsustainable. Yes, Rivian still has a sizable $7.9 billion cash buffer, but at this burn rate, bankruptcy isn&rsquo;t out of the question.



I&rsquo;m skeptical about Rivian&rsquo;s path to profitability without significantly raising prices, which the current market won&rsquo;t support. And if EV subsidies get cut, Rivian&rsquo;s challenges will only intensify. The stock is also seeing substantial dilution, so even in a best-case scenario, shareholders might not see meaningful returns.



While Rivian&rsquo;s vehicles are impressive, and the brand is gaining traction, I think the company is biting off more than it can chew.



<h2>ChargePoint Holdings (CHPT)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/04/chpt-stock-1-300x169.jpg" alt="A close-up of an orange ChargePoint (CHPT) station."><div>Source: JL IMAGES / Shutterstock.com</div></div>ChargePoint (NYSE:<a href="https://investorplace.com/stock-quotes/chpt-stock-quote/">CHPT</a>) provides EV charging solutions. But this stock is one to sell before it plummets to zero. The company has been hemorrhaging market share over the past few quarters as it struggles with deep unprofitability. ChargePoint&rsquo;s <a href="https://www.investing.com/news/stock-market-news/earnings-call-chargepoints-revenue-stood-at-107-million-93CH-3474412" target="_blank">revenue in Q1 was only $107 million</a>, a concerning 18% YOY decline. Gross margins inched up to a meager 24%, while its adjusted EBITDA loss was still an abysmal $36 million.



Management seems to be grasping at straws, touting &ldquo;large deals&rdquo; later this year to achieve EBITDA breakeven by Q4. However, I have little faith in this pipe dream, considering ChargePoint&rsquo;s track record of overpromising and underdelivering. The reality is that ChargePoint is simply outmatched by bigger, more competitive players in the EV charging space. Dilution is already on the rise here.



<div><a href="https://investorplace.com/wp-content/uploads/2024/06/chart-2024-06-25t185336.451.png"><img width="1200" height="628" src="https://investorplace.com/wp-content/uploads/2024/06/chart-2024-06-25t185336.451.png" alt="CHPT shares outstanding"> Click to Enlarge</a><div>Source: Chart courtesy of <a href="https://GuruFocus.com">GuruFocus.com</a></div></div>With EV adoption still in the early innings, ChargePoint will likely run out of cash and declare bankruptcy long before industry tailwinds can rescue its business model.



<h2>Innoviz Technologies (INVZ)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/08/invz1600-300x169.png" alt="In this photo illustration the Innoviz Technologies (INVZ) logo is displayed on a smartphone."><div>Source: rafapress / Shutterstock.com</div></div>Innoviz Technologies (NASDAQ:<a href="https://investorplace.com/stock-quotes/invz-stock-quote/">INVZ</a>) makes LiDAR sensors and perception software for autonomous vehicles. I&rsquo;m very bullish on the LiDAR sector&rsquo;s long-term potential, but that doesn&rsquo;t mean every company is a smart bet. Innoviz is one struggling EV stock I would sell before it potentially heads to zero. The stock has plunged 64.7% in the past year as <a href="https://www.google.com/finance/quote/INVZ:NASDAQ" target="_blank">net losses hit $30.1 million</a> in Q1 alone. With just $123.4 million in cash left, I don&rsquo;t believe Innoviz has the funds to survive long enough to turn profitable.



While Innoviz scored early wins with BMW (OTCMKTS:<a href="https://investorplace.com/stock-quotes/bmwyy-stock-quote/">BMWYY</a>) and VW (OTCMKTS:<a href="https://investorplace.com/stock-quotes/vwagy-stock-quote/">VWAGY</a>), competition is rapidly intensifying. Rivals are also launching Level 3 autonomy and aggressively pursuing the same automakers. Meanwhile, Innoviz is burning cash supporting these complex rollouts across the globe. Gross margins improved to just 17% but remain concerningly low. I view INVZ as one of the EV stocks you will want to sell now.



On the date of publication, Omor Ibne Ehsan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines.</a>
<div>Omor Ibne Ehsan is a writer at InvestorPlace. He is a self-taught investor with a focus on growth and cyclical stocks that have strong fundamentals, value, and long-term potential. He also has an interest in high-risk, high-reward investments such as cryptocurrencies and penny stocks. You can follow him on <a href="https://www.linkedin.com/in/omor-ibne-ehsan-56068022b/">LinkedIn</a>.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/06/7-struggling-ev-stocks-to-sell-before-they-head-to-zero/">7 Struggling EV Stocks to Sell Before They Head to Zero</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

7 Struggling EV Stocks to Sell Before They Head to Zero

U.S. light vehicle sales to reach 1.40 million units in June - report

Power Shift Part 2: Western Brands In China's EV Market

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
<a href="https://investorplace.com/industries/energy/renewable-energy/battery/">Battery stocks</a> to buy are tough to overlook, considering the global push towards a sustainable energy future.



Of late, though, we&rsquo;ve seen a sharp pullback in battery stock valuations following the slowdown in the broader EV market. Additionally, Bloomberg&rsquo;s EV Outlook for the year highlights a mixed landscape in the global EV space. While EV sales are rising overall, the pace of growth varies by region and segment. Additionally, multiple automotive players have had to adjust their timelines for EV goals, pointing to a muffled landscape.



However, from a long-term perspective, the battery market remains poised for robust annual growth of 16.7% leading up to 2030. That said, these three battery stocks stand out at attractive price points and have strong upside potential. These stocks are positioned exceptionally in their niche and primed for substantial long-term returns, making them top-value picks now.



<h2>Battery Stocks to Buy: Albemarle Corporation (ALB)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/05/alb1600a-300x169.jpg" alt="Albemarle (ALB) logo on a mobile phone screen"><div>Source: IgorGolovniov/Shutterstock.com</div></div>Albemarle Corporation&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/alb-stock-quote/">ALB</a>)&nbsp;has been a leading lithium supplier for EVs over the past few years. What gives it the edge over its competition is its interest in bromine and catalysts markets, complementing its lithium segment.



Despite a major correction in the lithium space, Albemarle&rsquo;s focus on liquidity preservation positions it well during volatile times. Moreover, besides its projected $280 million in productivity benefits, ALB boasts a robust liquidity <a href="https://www.albemarle.com/global/news/albemarle-reports-first-quarter-2024-results">reserve of $3.7 billion</a> as of March.



Furthermore, a decent head of steam has been building in commodity markets, with gold, oil, and natural gas leading the way. Hence, we could potentially see a comeback in the lithium space during the second-half of the year. Also, Albemarle recently unveiled promising developments in its North Carolina lithium mining project. Therefore, it&rsquo;s an ideal time for patient investors to invest in ALB stock, as it is positioned for stellar growth once lithium demand escalates.



<h2>Panasonic (PCRFF)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/05/pcrfy1600a-300x169.jpg" alt="A Panasonic (PCRFY) sign hanging in Beijing, China. generation z"><div>Source: testing/Shutterstock.com</div></div>Panasonic Holdings (OTCMKTS:<a href="https://investorplace.com/stock-quotes/pcrff-stock-quote/">PCRFF</a>) is an OG player in the battery space, known for its high-profile collaboration with Tesla (NASDAQ:<a href="https://investorplace.com/stock-quotes/tsla-stock-quote/">TSLA</a>). However, we&rsquo;ve recently seen the battery market advance its footprint with ambitious independent initiatives. The firm plans to expand its battery production capacity from 50Gwh at the beginning of the year to <a href="https://battery-news.de/en/2024/03/08/panasonic-considers-expansion-of-ev-battery-production-in-the-usa/">an enormous 200Gwh</a> by March 2031.



On the innovation front, Panasonic continues pioneering advanced battery technologies. The firm is actively developing cobalt-free battery options boasting an energy density of 1,000 Wh/l. Additionally, Panasonic plans to release a new iteration of EV battery cells with greater energy capacity this year, aiming <a href="https://na.panasonic.com/us/news/panasonic-energy-partners-sila-procurement-next-generation-silicon-anode-material-ev-batteries">for a 25% jump in energy densit</a>y from current levels.



Hence, Panasonic has plenty on its table, and it stands to expand its presence significantly in the EV battery realm. Its recent strategic moves underscore the firm&rsquo;s massive potential to deliver greater productivity and lower costs in EVs, making it a compelling battery stock option.



<h2>Solid Power (SLDP)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/03/sldp_solid_power_1600-300x169.png" alt="Smartphone with logo of American battery company Solid Power Inc. on screen in front of business website. Focus on center-left of phone display."><div>Source: T. Schneider / Shutterstock.com</div></div>Solid Power&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/sldp-stock-quote/">SLDP</a>) represents a high-risk, high-reward opportunity in the battery stock space. &nbsp;Though its stock is<a href="https://seekingalpha.com/symbol/SLDP/momentum/performance"> up more than 13% year-to-date (YTD)</a>, it&rsquo;s still trading 49% behind its 52-week highs. Hence, those looking to wager on SLDP stock need to have a taste for high-stakes opportunities.



SLDP is spearheading the development of solid-state batteries&mdash;often hailed as the holy grail for EVs. Should these groundbreaking batteries reach commercialization, they could potentially deliver multi-bagger returns.



The firm is set to deliver on its ambitious goal of launching improved A-2 cells this year, following the successful delivery of its A-1 cells to its partners last year. A key factor that has analysts bullish over its prospects is its financial backing from the likes of BMW (OTCMKTS:<a href="https://investorplace.com/stock-quotes/bmwyy-stock-quote/">BMWYY</a>) and&nbsp;Ford (NYSE:<a href="https://investorplace.com/stock-quotes/f-stock-quote/">F</a>). BMW, in particular, has gone one step further and is licensing SLDP&rsquo;s technology. Moreover, earlier this year, <a href="https://www.solidpowerbattery.com/investor-relations/investor-news/news-details/2024/Solid-Power-and-SK-On-Deepen-Partnership-with-New-Agreements/default.aspx">SLP expanded its collaboration with SK On</a>, which will now license SLDP&rsquo;s solid-state cell designs and manufacturing processes.



On the&nbsp;date of publication, Muslim Farooque did not have (either&nbsp;directly or indirectly) any positions in the securities mentioned in this article.&nbsp;The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>
<div>Muslim Farooque is a keen investor and an optimist at heart. A life-long gamer and tech enthusiast, he has a particular affinity for analyzing technology stocks. Muslim holds a bachelor&rsquo;s of science degree in applied accounting from Oxford Brookes University.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/06/the-3-smartest-battery-stocks-to-buy-with-200-right-now/">The 3 Smartest Battery Stocks to Buy With $200 Right Now</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

The 3 Smartest Battery Stocks to Buy With $200 Right Now

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Back in 2021, when <a href="https://investorplace.com/stock-types/growth-stocks/">growth stocks</a> were in a major bull market, electric vehicle (EV) companies were among the hottest picks. With a global focus on decarbonization and with government support, there were reasons to be bullish on <a href="https://investorplace.com/industries/consumer-discretionary/automotive/electric-vehicles/">EV stocks.</a> However, factors of macroeconomic headwinds, geopolitical tensions, trade wars and intense competition have dampened industry sentiments.



In my view, most of these factors are temporary headwinds. Therefore, it&rsquo;s a good time to consider exposure to undervalued EV stocks. The focus of this column is on EV <a href="https://investorplace.com/industries/energy/renewable-energy/battery/">battery stocks</a> to buy that can deliver multibagger returns in the next five years. For now, it&rsquo;s just a matter of buying and holding these <a href="https://investorplace.com/stock-types/undervalued-stocks/">undervalued stocks</a> with patience.



From an industry perspective, EV adoption in most countries is still at an early stage. Last year, <a href="https://www.iea.org/reports/global-ev-outlook-2024/trends-in-electric-cars">almost 14 million new EVs</a> were registered globally. By 2030, <a href="https://origin.iea.org/reports/global-ev-outlook-2024/outlook-for-electric-mobility">it&rsquo;s expected that</a> 42% to 58% of cars sold globally will be EVs. That puts into perspective the potential demand for EV batteries in the coming years.



Therefore, let&rsquo;s discuss three EV battery stocks to buy for multibagger returns.



<h2>Panasonic Holdings (PCRFF)</h2>



<div><img width="300" height="165" src="https://investorplace.com/wp-content/uploads/2018/07/PCRFYmsn-compressor-300x165.jpg" alt="10 Lithium Stocks to Buy Despite the Market's Irrationality"><div>Source: Shutterstock</div></div>Panasonic Holdings (OTCMKTS:<a href="https://investorplace.com/stock-quotes/pcrff-stock-quote/">PCRFF</a>) stock is possibly among the most undervalued battery stocks to buy. After declining almost 30% in the last 12 months, PCRFF stock trades at a <a href="https://stockanalysis.com/stocks/pcrhy/statistics/">forward P/E</a> of 9. Further, the battery stock offers a dividend yield of 2.76%.



It&rsquo;s worth noting that Panasonic had chalked out ambitious EV battery capacity expansion plans. From a battery capacity of 50 GWh in the last financial year, Panasonic plans to <a href="https://www.panasonic.com/global/energy/company/strategy/2023.html">increase capacity</a> to 200 GWh by 2031. Quadrupling of capacity will imply healthy revenue growth coupled with EBITDA margin expansion.



However, with the recent slowdown, it&rsquo;s likely that expansion plans will be deferred. I don&rsquo;t see that as a concern if the long-term outlook is positive. It&rsquo;s worth adding here that Panasonic has been focused on innovation that translates into improved EV batteries.



As an example, the company is <a href="https://na.panasonic.com/us/news/panasonic-energy-partners-sila-procurement-next-generation-silicon-anode-material-ev-batteries">targeting a 25% increase</a> in battery density by the end of the decade. A focus on innovation will likely ensure Panasonic maintains or increases its market share.



<h2>Solid Power (SLDP)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/03/sldp_solid_power_1600-300x169.png" alt="Smartphone with logo of American battery company Solid Power Inc. on screen in front of business website. Focus on center-left of phone display."><div>Source: T. Schneider / Shutterstock.com</div></div>Among EV battery companies focused on solid-state batteries, Solid Power (NASDAQ:<a href="https://investorplace.com/stock-quotes/sldp-stock-quote/">SLDP</a>) is an attractive bet. After an extended period of correction, SLDP stock has trended higher by 12% year-to-date. That has been backed by positive business developments and I expect the upside momentum to sustain.



One reason to like Solid Power is the backing of strong automotive partners. In December 2022, the company licensed its cell design and technology to BMW (OTCMKTS:<a href="https://investorplace.com/stock-quotes/bmwyy-stock-quote/">BMWYY</a>) for parallel research and development. This will likely help with the potential acceleration of the commercialization timeline.



Earlier this year, the company strengthened its ties with SK On. It provides Solid Power with an entry into the Korean market. The partnership will also <a href="https://www.solidpowerbattery.com/investor-relations/investor-news/news-details/2024/Solid-Power-and-SK-On-Deepen-Partnership-with-New-Agreements/default.aspx">support technology advancement</a> besides helping Solid Power make inroads in a new market.



Later this year, Solid Power will be delivering A-2 cells to automotive partners for validation testing. The A-2 cells &ldquo;incorporates <a href="https://www.solidpowerbattery.com/investor-relations/investor-news/news-details/2024/Solid-Power-First-Quarter-2024-Results-Reflect-Continued-Progress-Towards-2024-Goals/default.aspx">planned improvements</a> and addresses known challenges&rdquo; from the company&rsquo;s A-2 cells. Positive validation testing results can be a major catalyst for stock upside.



<h2>QuantumScape (QS)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/04/qs-300x169.jpg" alt="QuantumScape logo on thumbnail for Luke Lango's Hypergrowth Investing podcast."><div>Source: InvestorPlace</div></div>QuantumScape (NYSE:<a href="https://investorplace.com/stock-quotes/qs-stock-quote/">QS</a>) is another company working on solid-state lithium metal batteries for electric vehicles. QS stock has remained depressed with a downside of 29% in the last 12 months. However, valuations look attractive considering the company&rsquo;s business progress.



The first point to note about QuantumScape is the research and development effort for 13 years. During this period, the battery company has accumulated around 300 patents or patent applications. Therefore, QS has an innovation edge.



Further, the solid-state battery maker has commercial agreements with six automotive OEMs. That underscores the company&rsquo;s capability and the potential to commercialize solid-state batteries. I must add here that Volkswagen (OTCMKTS:<a href="https://investorplace.com/stock-quotes/vwagy-stock-quote/">VWAGY</a>) is a strategic investor in the company.



In terms of product development, the progress has been smooth. In March, the company <a href="https://s29.q4cdn.com/884415011/files/doc_financials/2024/q1/QS-Shareholder-Letter-Q1-2024.pdf">shipped Alpha-2 sample cells</a> to automotive partners for validation testing. For the current year, QuantumScape is also targeting <a href="https://s29.q4cdn.com/884415011/files/doc_presentation/2024/05/QS-IR-Presentation-May-24.pdf">low-volume QSE-5 prototype production.</a> With all these positive developments, it&rsquo;s just a matter of time before QS stock skyrockets.



On the date of publication, Faisal Humayun did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines.</a>
<div>Faisal Humayun is a senior research analyst with 12 years of industry experience in the field of credit research, equity research and financial modeling. Faisal has authored over 1,500 stock specific articles with focus on the technology, energy and commodities sector.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/06/3-battery-stocks-to-buy-at-bargain-levels-before-they-surge/">3 Battery Stocks to Buy at Bargain Levels Before They Surge</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

3 Battery Stocks to Buy at Bargain Levels Before They Surge

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
The best robotics stocks to buy are those that will continue to attract investors who are trying to future-proof their portfolios. That&rsquo;s because the market <a href="https://www.mordorintelligence.com/industry-reports/robotics-market">could to grow 15.91%</a> from $45.85 billion in 2024 to $95.93 billion in 2029.



Moreover, the U.S. robotics industry could reach a valuation of <a href="https://www.statista.com/outlook/tmo/robotics/united-states">$7.85 billion</a> in 2024, the most internationally. Even better for robotics stocks, institutional investors feel safer about the industry due to President Biden&rsquo;s 2024 AI Executive Order., which aims to advance AI technology, ensuring its safety, security, and fairness



In industry developments, <a href="https://nvidianews.nvidia.com/news/robotics-industry-development-ai-autonomous-machines">the collaboration</a> between NVIDIA (NASDAQ:<a href="https://investorplace.com/stock-quotes/nvda-stock-quote/">NVDA</a>), BYD (OTCMKTS:<a href="https://investorplace.com/stock-quotes/byddf-stock-quote/">BYDDF</a>), and Teradyne (NASDAQ:<a href="https://investorplace.com/stock-quotes/ter-stock-quote/">TER</a>) robotics is improving robot technology. This breakthrough uses NVIDIA&rsquo;s Isaac robotics platform, which creates self-driving, cooperative robots with AI and modeling abilities.



Additionally, <a href="https://www.forbes.com/sites/richblake1/2023/11/24/rise-of-warehouse-robots-spurs-efficiencies-and-safety-concerns/">humanoid robots</a> improve healthcare and the workplace. Amazon (NASDAQ:<a href="https://investorplace.com/stock-quotes/amzn-stock-quote/">AMZN</a>) and BMW (OTCMKTS:<a href="https://investorplace.com/stock-quotes/bmwyy-stock-quote/">BMWYY</a>) use these robots for dangerous or repetitive tasks to increase safety and efficiency. Plus, <a href="https://emag.directindustry.com/2024/03/13/how-industrial-exoskeletons-help-with-heavy-lifting-in-the-workplace/">industrial exoskeletons are expected</a> to grow sevenfold by 2030, helping workers avoid damage and exhaustion when moving heavy things or repeating activities.&#8203;



With so much industry activity and a <a href="https://www.solactive.com/wp-content/uploads/2024/04/Press-Release-Themes-ETFs-Launches-Robotics-Automation-ETF-Tracking-Solactive-Index.pdf">potential $65.59 billion market opportunity</a> on offer by 2028, the time is ripe for investors to consider robotics stocks to buy with strong ratings, upside potential, and robust financial performance.



<h2>Teradyne (TER)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/07/teradyne-ter-1600-300x169.jpg" alt="Teradyne Silicon Valley office"><div>Source: Michael Vi / Shutterstock.com</div></div>Teradyne is a premier company for testing robots and industrial automation. Each of the last 12 quarters it made more money than forecast, and it&rsquo;s still growing its share of the industrial robots market.



Teradyne&rsquo;s <a href="https://investors.teradyne.com/news/teradyne-reports-first-quarter-2024-results/79a608d5-5db5-43cd-99a9-df20d4ace877">first-quarter 2024 earnings</a> were strong. Analysts anticipated $566.31 million, but it made $599.82 million. Additionally, its 51-cent earnings-per-share (EPS) exceeded the 33-cent projections. This came as a result of memory test revenue increases countering mobility sector weakness despite a modest year-over-year reduction.&#8203;



Teradyne <a href="https://investors.teradyne.com/news/teradyne-marks-8-000th-j750-semiconductor-test-system-shipment/26d5e92f-ddc0-472c-9066-1a902bb24470">has also shipped 8,000 J750-powered test devices</a>, a milestone that shows the company&rsquo;s semiconductor testing expertise and autonomous test capabilities. Teradyne raised its quarterly cash payout from 11 cents to 12 cents.



Meanwhile, Teradyne Robotics goods are getting AI through a relationship with NVIDIA. The agreement uses <a href="https://investors.teradyne.com/news/teradyne-robotics-to-bring-the-power-of-ai-to-robotics-with-nvidia/f89e3bc0-1345-4627-9349-569db0a6b88d">NVIDIA&rsquo;s Jetson AGX Orin module</a> for advanced AI applications to make Universal Robots and the MiR1200 Pallet Jack. When combined, this feature makes route planning and self-navigation easier in tough conditions.



In addition, Chief AI Officer James Davidson, who started in May, <a href="https://investors.teradyne.com/news/teradyne-robotics-welcomes-james-davidson-as-chief-ai-officer/47a6ac9d-8517-448f-a2f2-507541cbbaf4">is another change</a> at the top. His knowledge of AI and robotics could give the company&rsquo;s joint and separate mobile robot sections new ideas.



<h2>Symbotic (SYM)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/03/stag-1600-warehouse-reit-300x169.jpg" alt="stocks to buy: warehouse interior with shelves, pallets and boxes D"><div>Source: Don Pablo / Shutterstock.com</div></div>Symbotic (NASDAQ:<a href="https://investorplace.com/stock-quotes/sym-stock-quote/">SYM</a>) provides warehouse automation. The company&rsquo;s AI-enabled supply line robot technology has grown revenue and added clients, resulting in three profit surprises ranging from 801% to 901% in the previous four quarters.



Recent Symbotic <a href="https://www.symbotic.com/about/news-events/news/symbotic-reports-second-quarter-fiscal-year-2024-results/">second-quarter fiscal 2024 results</a> showed $424.3 million in sales, above expert predictions of $412.9 million. However, it missed the projected five cents, its net loss per share was seven cents. Quarterly Symbotic adjusted EBITDA was $22 million.



Yet, Q2 earnings still surpassed analysts&rsquo; Symbotic predictions and ratings for the most part. The company&rsquo;s strong performance and future possibilities led KeyBanc Capital Markets analysts <a href="https://markets.businessinsider.com/news/stocks/symbotic-reports-q1-beat-analysts-boost-their-2024-estimates-strong-secular-growth-story-1033341270">to raise its fiscal 2024 profits prediction</a> from two cents to 40 cents. Then, due to revenue and gross margin growth, Needham analysts awarded it a buy rating.



Symbotic is constantly improving and <a href="https://www.marketbeat.com/stocks/NASDAQ/SYM/news/">expanding its products</a>, including the GreenBox joint effort and BreakPack solution, to sustain profits momentum. These fresh concepts boost the supply chain and help the organization reach more clients.



For its technology and growth, <a href="https://www.symbotic.com/about/news-events/news/symbotic-named-to-fast-companys-annual-list-of-the-worlds-most-innovative-companies-of-2024/">Fast Company named</a> Symbotic one of 2024&rsquo;s World&rsquo;s Most Innovative Companies. It highlights how essential the organization is in modernizing supply chain management using robots and AI.



<h2>PTC (PTC)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/09/ptc-stock-1-300x169.jpg" alt="The PTC (PTC) website is displayed on an open laptop."><div>Source: Casimiro PT / Shutterstock.com</div></div>PTC (NASDAQ:<a href="https://investorplace.com/stock-quotes/ptc-stock-quote/">PTC</a>), a leader in computer-aided design, makes software for realistic 3D, VR, and AR experiences; it boasts eight years of profitability, making it a good choice among robotics stocks to buy. In the second quarter of 2024, it beat the average estimate of 87 cents with an EPS of $1.10. Sales for the quarter were $603.07 million, exceeding expectations of $575.53 million.



Its <a href="https://www.gurufocus.com/stock/PTC/summary">ranking in the top 32%</a> of 2,279 companies shows that it has a competitive edge and is stable in an extremely competitive field, confirming its status among robotics stocks to buy; PTC has a consensus strong buy rating and a 12-month price target of about $191, which is 8% higher than its current price of $178.



PTC is a star in many areas of technology, and this is well known. The IIoT SPARK Matrix from Quadrant Knowledge Solutions <a href="https://www.ptc.com/en/blogs/iiot/ptc-named-outright-leader-by-quadrant-knowledge-solutions-spark-iiot-matrix-2023">says it has won first place five years in a row</a>. In their CAD Competitive Matrix Assessment, ABI Research <a href="https://www.ptc.com/en/blogs/cad/ptc-named-leader-by-abi-2023">also named it an</a> innovator.



Meanwhile, its tools, like Windchill and Codebeamer, <a href="https://www.ptc.com/en/news/2023/ptc-becomes-strategic-supplier-to-volkswagen-group-with-codebeamer-alm">are used</a> by large companies like Volkswagen Group (OTCMKTS:<a href="https://investorplace.com/stock-quotes/vwagy-stock-quote/">VWAGY</a>) to improve their engineering and product lifecycle management.



But timing is key: PTC is on a robust rise, and first-quarter fiscal 2024 earnings have made the company more expensive than 70% of the industry, so buyers must wait for a decent opportunity.



On the date of publication, Faizan Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article.&nbsp;The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.
<div>Faizan Farooque is a contributing author for InvestorPlace.com and numerous other financial sites. Faizan has several years of experience in analyzing the stock market and was a former data journalist at S&amp;P Global Market Intelligence. His passion is to help the average investor make more informed decisions regarding their portfolio.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/06/3-robotics-stocks-that-could-make-your-grandchildren-rich/">3 Robotics Stocks That Could Make Your Grandchildren Rich</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

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