What You Missed This Week in EVs and Clean Energy

Articles From: The Fly
Website: The Fly

Tesla back to taking orders for Model 3 long-range in U.S., raises prices for top-selling cars in U.S., China, Japan and Canada

Institutional investors and professional traders rely on The Fly to keep up-to-the-second on breaking news in the electric vehicle and clean energy space, as well as which stocks in these sectors that the best analysts on Wall Street are saying to buy and sell.

From the hotly-debated high-flier Tesla (TSLA), Wall Street’s newest darling Rivian (RIVN), traditional-stalwarts turned EV-upstarts GM (GM) and Ford (F) to the numerous SPAC-deal makers that have come public in this red-hot space, The Fly has you covered with “Charged,” a weekly recap of the top stories and expert calls in the sector.

MODEL 3 LONG-RANGE: 

Tesla has returned to taking orders for its Model 3 long-range version in the U.S. following a temporary pause in 2022 amid delivery backlogs, Reuters’ Gokul Pisharody and Akriti Sharma report. The long-range version of the vehicle presently costs $47,240, roughly 18.5% less than the $57,990 price it had last August when the car maker halted orders in the U.S. and Canada, the authors note.

PRICE INCREASE: 

Tesla has increased prices in a range of up to $290 in Canada, China, Japan, and the U.S. after the car maker lowered prices of its top-selling vehicles since the start of 2023, Reuters’ Akriti Sharma reports. The raise was the first on its two top-selling models at the same time in multiple markets, though prices across its lineup are much lower than at the start of the year, the author notes.

Click here to check out Tesla’s recent Media Buzz Sentiment as measured by TipRanks.

MODEL S PLAID TRACK PACKAGE: 

Tesla has unveiled a track package for the Model S Plaid, between $15,000 and $20,000, that will be available June 2023, according to the company’s website. Tesla said, “Designed for the ultimate track experience, the Model S Plaid Track Package delivers high-speed stability, maximum cornering force and repeatable stopping power during high-performance driving while unlocking a top speed of 200 mph. The Track Package includes aluminum forged wheels, track-ready tires and brake fluid, new carbon-silicon carbide rotors, and one-piece forged calipers with high-performance pads. Our rotors feature continuous-fiber technology and are constructed in a unique 3D matrix to add strength and manage heat more effectively. For additional durability, a ceramic friction layer covers the entire rotor surface to reduce brake dust, corrosion and wear while also improving pedal feel for daily driving.

SEC CONCLUDES INVESTIGATION: 

In a regulatory filing, Lucid Group (LCID) notes that it previously received a subpoena from the SEC requesting the production of certain documents in an investigation by the SEC related to the business combination between the company and Atieva, Inc. and certain projections and statements. The company responded and fully cooperated with the SEC in its review. Lucid added, “On April 27, 2023, SEC staff informed the company that they have concluded the investigation and that they do not intend to recommend an enforcement action by the SEC against the company.”

FIRST DELIVERY: 

Fisker (FSR) announces that the first customer has taken delivery of the Fisker Ocean all-electric SUV. The owner received their vehicle from Fisker Chairman and CEO Henrik Fisker at the recently opened Fisker Center+ facility in Copenhagen, Denmark.

ON THE SIDELINES: 

Guggenheim initiated coverage of ChargePoint (CHPT) with a Neutral rating and no price target. While the firm says it likes the company’s strategy and competitive positioning, its analysis suggests that the stock is fairly valued. Guggenheim’s estimates for 2025 and 2026 are “moderately below consensus,” the analyst added.

BUY SOLAREDGE: 

Deutsche Bank upgraded SolarEdge (SEDG) to Buy from Hold, on May 4. The firm had previously voiced concerns about cost control, better localization of the supply chain and margin pressures, but it is “increasingly constructive” on SolarEdge as those concerns have faded, Deutsche tells investors.

Originally Posted May 8, 2023 – What You Missed This Week in EVs and Clean Energy

2 thoughts on “What You Missed This Week in EVs and Clean Energy”

  1. I’m holding out for the full, self driving car! I want to tell it where to go, and know nothing else until I get there! At 74, it’s about the only independence I can count on, long term. Let me know!

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