Last week, Rivian, a private electric vehicle manufacturer backed by Amazon, announced a US$2.5 billion capital raise, aimed at ensuring the production launch in 2021 of its electric truck and SUV line, competing against Ford, General Motors, Nikola, Tesla, and Lordstown Motor. [more]
Last week, Tesla, the global leader in the EV industry, surpassed Toyota as the world’s largest car manufacturer by market capitalization, reaching a value of over US$250 billion after reporting impressive deliveries for Q2/2020. In the past week, Tesla’s stock price continued to surge by over 20% to US$1,372 per share. [more]
The production and sale of electric vehicles were resilient despite the onset of the COVID-19 pandemic, as the EV industry reported various new developments in vehicles and technologies. [more]
Net Loss of $645M included a $594M goodwill impairment charge related to the BlackBerry Spark reporting unit. However, ARR is reaching $500M and QNX royalty backlog is approaching $450M. BlackBerry still holds Cash and Cash Equivalents of $955M. [more]
Last week, Last Mile Holdings, previously known as OjO Electric Corp, announced the completed acquisition of Gotcha Mobility, a company with over 20,000 e-bikes and e-scooters permits across 80 locations. [more]
Tesla Q4/2019 Earnings Beat Consensus Estimate, GM Invests $2.2B into EVs, and UPS buys 10,000 EVs. [more]
Tesla starts EV deliveries at Shanghai facility. General Motors partners with a Korean company to build one of the world’s largest battery plants. Start-up Lordstown Motors plans to launch its electric pick-up truck in 2020. [more]
Tesla’s stock price soared after the earning’s announcement. EV industry is expected to grow by over 25% CAGR over next 6 years while Volvo launches an EV XC40 to compete but Dyson exists the EV market. [more]
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