XPEV - Tesla Weathers Massive 2M+ Recall Ford's Deep F-150 Lightning Production Cut Lucid CFO Quits After Nasdaq-100 Exit And More: Biggest EV Stories Of The Week | Benzinga
Electric vehicle stocks closed mixed in the week that ended on Dec. 15 despite the broader market optimism over the Federal Reserve’s inclination toward rate cuts. It appears that these stocks will likely be laggards, primarily due to the larger slowdown in EV adoption and ramp-up issues faced by both legacy automakers transitioning to EVs and startups.
Here are the key events that happened in the EV space during the week:
Tesla Recalls, Cybertruck Delay And More: Shares of Tesla, Inc. (NASDAQ:TSLA) broke above the $250 psychological barrier, despite the company’s recall of over 2 million vehicles in the U.S. to rectify issues with Autosteer via an over-the-air update. Documents posted on the National Highway Transport Safety Administration’s website said the update would increase warnings and alerts to drivers and limit the areas where the basic version of the Autopilot system can operate. The recall has since expanded to Canada.
As Tesla grapples with workers’ unions in Sweden, the company is seeking to employ a specialist with “significant experience with Nordic legislative and regulatory advocacy,” according to a new posting on Tesla’s careers website.
The Giga Mexico, which is currently under construction, will likely receive $158 million in new incentives from Mexico’s Nuevo León state, where it is located. “The approved incentives will allow the creation of basic infrastructure, such as drinking and treated water, roads ...