GM to announce second U.S. battery plant with LG Chem, Reuters reports » 13:3204/1404/14/21
General Motors and South…
General Motors and South Korean joint-venture partner LG Chem will announce a second U.S. battery cell manufacturing plant on Friday, revealing plans for a $2.3B factory in Spring Hill, Tennessee, Reuters' David Shepardson and Ben Klayman report, citing three people familiar with the matter. The plant will use a different, more cost-effective battery chemistry than the one the companies will offer from the joint-venture plant they are building in Lordstown, Ohio, the sources said. Reference Link
Largest borrow rate increases among liquid names » 08:4504/1404/14/21
SOS, FTCV, AYRO, EYES, NEPT, UXIN, SHW, SRAC, TAN, BLNK
Latest data shows the…
Latest data shows the largest indicative borrow rate increases among liquid option names include: SOS Limited (SOS) 13.70% +1.30, FinTech Acquisition Corp V (FTCV) 17.31% +0.76, AYRO (AYRO) 26.73% +0.60, Second Sight (EYES) 62.60% +0.52, Neptune Technologies (NEPT) 19.38% +0.51, Uxin Ltd (UXIN) 1.91% +0.50, Sherwin Williams (SHW) 0.74% +0.49, Stable Road Acquisition Corporation (SRAC) 11.35% +0.35, Guggenheim Global Solar Index (TAN) 5.11% +0.32, and Blink Charging (BLNK) 58.50% +0.26.
General Motors price target raised to $65 from $62 at Evercore ISI » 08:1704/1404/14/21
Evercore ISI analyst…
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Nikola, IVECO and OGE to establish business structure for transporting hydrogen » 06:0404/1404/14/21
Nikola (NKLA), IVECO and…
Nikola (NKLA), IVECO and OGE announced they have entered into a letter of intent for a collaboration to establish a business structure for transporting hydrogen via pipeline network from production sources to hydrogen fueling stations in support of fuel-cell electric vehicles, or FCEVs. The collaboration is being launched with the intent to further define and formalize the roles and responsibilities of the parties and the required collaboration governance to enable execution of objectives to be stated in definitive agreements. IVECO, a brand of CNH Industrial (CNHI), and OGE, an owner and operator of a 12,000 km natural gas pipeline infrastructure network in Germany, will join Nikola in advancing hydrogen infrastructure to enable progress and growth of FCEVs in alignment with European policy and industry needs. The primary focus of this collaboration is to further develop hydrogen fueling solutions in Germany in support of the European commercial transportation system and to work with industry partners. The parties are committed to the development of a hydrogen economy and are focused on implementing the necessary refueling and distribution infrastructure.
GM shortens expected downtime at Tennessee plant, CNBC reports » 11:2804/1304/13/21
General Motors is…
General Motors is restarting production sooner than expected at a crossover plant in Tennessee after supplies improved of the semiconductor chips needed to produce vehicles at the facility, CNBC's Michael Wayland reports. The automaker's Spring Hill Assembly plant will return to regular production on Monday instead of April 26, a week earlier than initially announced last week by the company, the author notes. A GM spokesman attributed the change in scheduling to near-term improvements in supplies allowing the automaker to avoid the production impact at the plant. The company also will not halt production next week of the Chevrolet Blazer at a plant in Mexico, which was announced last week due to the chip shortage, the publication says. Reference Link
Largest borrow rate increases among liquid names » 08:4504/1304/13/21
ADN, SHW, FTCV, EQOS, ACB, WPG, UAMY, FENG, FUTU, GOEV
Latest data shows the…
Latest data shows the largest indicative borrow rate increases among liquid option names include: Advent Technologies (ADN) 49.15% +3.66, Sherwin Williams (SHW) 0.74% +0.49, FinTech Acquisition Corp V (FTCV) 17.01% +0.49, Diginex (EQOS) 18.74% +0.29, Aurora Cannabis (ACB) 2.81% +0.28, Washington Prime (WPG) 10.42% +0.27, US Antimony (UAMY) 25.54% +0.25, Phoenix New Media (FENG) 11.59% +0.19, Futu Holdings (FUTU) 2.01% +0.19, and Canoo (GOEV) 38.81% +0.18.
Charged: White House proposal calling for $100B in new EV consumer rebates » 13:3204/1204/12/21
TSLA, NKLA, GM, F, PCAR, RMO
Welcome to The Fly's…
General Motors launches Maps+ in-vehicle navigation solution » 11:5604/1204/12/21
General Motors announced…
General Motors announced the launch of Maps+, an in-vehicle, app-based navigation solution, upgrading capabilities for select model year 2018 and newer Chevrolet, Buick, GMC and Cadillac vehicles by the end of 2021. Maps+, which is powered by Mapbox, is expected to begin its rollout to approximately 900,000 vehicles on April 30, as part of select Connected Services plans. For current owners of compatible vehicles that previously did not have navigation built in, Maps+ brings a connected ecosystem of voice assistants, navigation and apps into a singular experience. "We know customers want an easy and convenient in-vehicle experience that improves over time," said Santiago Chamorro, GM vice president of Global Connected Services. "We listened to customer feedback and developed a product that works seamlessly with our current infotainment systems and provides a highly personalized experience that will iterate throughout the lifetime of the vehicle." Maps+ was developed to "meet driver needs and preferences while keeping hardware capabilities of different vehicles in mind," the company said. Drivers can start Maps+ navigation with Alexa Built-In voice control and listen to music or podcasts using the system's integrated audio apps. A single-box search offers intuitive access to points of interest, shops, restaurants, parking and more. Reference Link
Chip shortage meeting not seen producing substantive outcomes, Bloomberg says » 09:0004/1204/12/21
GOOG, GOOGL, INTC, TSM, GM
The White House chip…
The White House chip shortage meeting with Alphabet (GOOGL), Intel (INTC), TSMC (TSM), GM (GM), and others is to air grievances and isn't expected to produce substantive outcomes, Bloomberg's Jenny Leonard and Keith Laing report, citing people familiar with the meeting planning. White House Press Secretary Jen Psaki called the meeting part of the administration's "consulting process" on the shortage, and said it would inform an ongoing review of the semiconductor supply chain. Reference Link
General Motors' Cruise to expand self-driving vehicles to Dubai, CNBC reports » 08:4604/1204/12/21
General Motors' subsidiary Cruise has signed an agreement with Dubai Roads and Transport Authority to be the exclusive provider of self-driving taxis through 2029, Michael Wayland of CNBC reports, citing officials. Cruise expects to begin operating in the city in 2023 and expects to operate a fleet of 4,000 self-driving vehicles in the city by 2030. Reference Link