Eight hot stocks to consider in a booming EV market

Summary Kaixin Auto popped more than 50 percent, while Carvana rose 3 percent on Friday. Chinese car dealer Kaixin will establish a new business unit for electric vehicles. Carvana swung to profit in the second quarter as revenue almost triple...

Summary The auto industry is recovering at a faster pace from the impact of the pandemic last year. However, the automakers are now grappling with the shortage of semiconductors. Electric vehicle maker Tesla is the largest automaker in market ...

Summary General Motors Company (NYSE: GM) reported revenue of US$34.2 billion in Q2, 2021. The Michigan-headquartered company’s net income increased to US$2.8 billion in the period. Honda Motor Company Ltd (NYSE: HMC) net income rose to ...

Summary NIO Inc’s (NYSE: NIO) cumulative delivery of vehicles reached 125,528 as of July 31, 2021. The stock gave a 229% return in one year. XPeng Inc’s (NYSE: XPEV) P7 model got a 5-star safety rating for EVs in China. Its stock ga...

Summary In 2018, Saudi Arabia's Public Investment Fund (PIF) had invested over US$1 billion in Lucid. Now, Lucid’s US listing has come as a huge dividend for the Arab company. Besides PIF, BlackRock (BLK) and some other companies also hav...

Summary Lordstown Motors Corp (Nasdaq: RIDE) reported a net loss of US$125 million in Q1, 2021. Fisker Inc (NYSE: FSR) has a market cap of US$4.7 billion. NIO Inc.’s (NYSE: NIO) total revenue surged to US7.9 billion in Q1, 2021. Ele...

Summary NIO Inc. (NYSE: NIO) delivered 20,060 vehicles in Q1 of FY 2021. The stock was up 6.09% on Wednesday. XPeng Inc. (NYSE: XPEV) stock was up 7.26% on Wednesday. It priced its new smart sedan-P5 price range at RMB 160,000-230,000. Li...

Tesla Inc. CEO Elon Musk was on Monday scheduled to testify in the Chancery Court in Delaware against the allegation of wrongful acquisition of SolarCity Corporation by the company in 2016. Tesla had acquired SolarCity Corp in November 2016. Follo...

Summary Rimac Automobili started from a garage in 2009, is a Croatian EV maker startup. Rimac and Porsche AG announced on Monday to start a joint venture named Bugatti-Rimac in the last quarter of this year. Volkswagen has many brands in its p...

Summary XPeng and NIO stocks are up in the pre-market trading. XPeng posted a record second-quarter deliveries of 17,398 vehicles. NIO delivered 21,896 vehicles in the second quarter, up 111.9 percent. XPeng Inc. (NYSE: XPEV) and NIO Inc....