(Oil & Gas 360)—Ford’s ongoing ”market therapy” regarding a less-than-enthusiastic reception for its three electric vehicle (EV) models is costing the company about $3 billion to convert a Canadian plant from its purpose-built EV design to produce more of its Super Duty truck models (F-250, 350, and 450). Trucks constitute the lion’s share of Ford’s business; its F-150 internal combustion
Oil Price Tesla this week broke ground on a lithium refinery in Texas in the company’s latest move aimed at ensuring a sufficient supply of critical materials for the manufacturing of its cars. It is also part of a plan to expand Tesla’s presence across the EV supply chain, Reuters noted in a report on the news. The refinery should be
CNBC Tesla wants to sell electricity directly to customers in Texas, according to an application filed by the company this month with the Public Utility Commission there. The application follows the start of a big battery build out by Tesla in Angleton, Texas (near Houston), where it aims to connect a 100 megawatt energy storage system to the grid. Texas Monthly
mining.com In its quest to build one of the largest lithium mines in the United States, Piedmont Lithium Inc has overlooked one crucial constituency: its North Carolina neighbors. Piedmont last autumn signed a deal to supply US electric automaker Tesla Inc with lithium sourced from its deposits in North Carolina, sending the company’s stock up tenfold. Piedmont has also hired investment
From CNBC Tesla delivered 95,200 vehicles, produced 87,048 cars in Q2 Tesla’s stock surged in premarket trading Wednesday after the electric auto maker said it shattered its previous production and delivery records during the second quarter, soundly beating analysts’ estimates. The electric car maker released its delivery and production results Tuesday night, hinting at a strong third quarter that already
Plan for a country-wide network of charging stations is underway It’s one of the biggest roadblocks surrounding the widespread adaptation of electric vehicles (EVs); what happens when the battery is depleted? Walmart, in partnership with Electrify America, a wholly owned subsidiary of the Volkswagen Group of America, thinks it may have the solution to that problem. This week, the two
From Bloomberg Elon Musk’s unveiling of a new electric vehicle that Tesla Inc. won’t deliver to customers for another year and a half rekindled concerns about the company’s cash position. The Model Y crossover the chief executive officer debuted late Thursday at Tesla’s design studio in Hawthorne, California, will start being delivered to customers in the fall of next year,
From Bloomberg Tesla Inc.’s share price was already nowhere near the necessary level to help convert its $920 million in bonds to stock. Elon Musk’s contentious tweets killed any last-minute hopes that a miracle rally was near. His electric-car company is on the hook to settle the March 1 convertible bond maturity in cash, the largest debt payment to date
From The Wall Street Journal The Securities and Exchange Commission asked a federal judge on Monday to hold Tesla Inc. Chief Executive Elon Musk in contempt of court over tweets he made last week discussing the auto maker’s 2019 projected production volumes. In a court filing, the SEC said Mr. Musk violated a condition of his settlement with the regulator last year,
From Bloomberg The clock is now ticking for Elon Musk to avoid a $920 million bill for Tesla Inc. That’s the amount of debt coming due March 1 from convertible bonds issued back in 2014. Tesla can dodge the payout by exchanging the note for a mix of cash and stock — but only if the shares jump about 21 percent
Tesla electric over-the-road trucks expected to travel up to 300-500 miles on a single charge with a fully loaded trailer: Albertsons’ order follows FedEx, Pepsi, Wal-Mart, Anheuser-Busch, Hunt From FreightWaves With the ongoing, high-profile negative news surrounding Tesla (NASDAQ: TSLA), there is still interest in the company’s electric semi. Albertsons Companies, which operates well-known food and drug retailers across the
First time a utility and its regulators directly replace multiple major power plants with battery storage From Utility Dive The California Public Utilities Commission on Thursday approved four energy storage projects for Pacific Gas & Electric (PG&E) to replace retiring gas generators, including two batteries that would be the largest in the world. The CPUC granted approval for a total of 567.5
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