QuantumScape reports Q1 EPS (20c), consensus (7c) » 16:2005/1105/11/21
"At the end of the…
"At the end of the quarter, we were pleased to report that we met a contractually committed milestone with Volkswagen (VWAGY), which resulted in an additional $100M investment into QuantumScape (QS) in April," the company said. "The milestone required that we deliver, and VW test in their labs in Germany by the end of the quarter to confirm, cells with separator thickness and area near production targets that would operate at predetermined rates of power and temperatures for a specified number of cycles. Meeting this key technical milestone demonstrates our ability to make separators with near production-intent thickness and area, a critical step toward industrialization."
Charged: Tesla Q2 demand seen as robust despite rising competition » 11:1205/1005/10/21
TSLA, CCIV, F, VWAGY, NIO, XPEV, LI, BMWYY, BEP, BKR, BE, SEDG
Welcome to The Fly's…
Tesla demand looks robust so far in Q2 despite rising competition, says Wedbush » 08:5505/1005/10/21
TSLA, CCIV, F, VWAGY, NIO, XPEV, LI
Wedbush analyst Daniel…
Wedbush analyst Daniel Ives acknowledges that there is "clearly a lot of noise" and perceived headwinds that Tesla (TSLA) is contending with in the field, including the lingering chip shortage, China political blowback from recent safety issues, and rising EV competition around the globe. The EV arms race was evident in full force over the weekend as while CEO Elon Musk hosted "Saturday Night Live" in a highly anticipated performance, three EV rivals - Lucid Motors (CCIV), Ford (F), and Volkswagen (VWAGY) - all showcased their flagship electric vehicles in separate advertisements aired during the broadcast, Ives notes. Despite "the glass half-empty view" of EV stocks and Tesla over the last few months after a historic rally over the past year, the analyst argues that underlying consumer EV demand looks robust in China, Europe, with the U.S. playing catchup. Further, Ives also believes as the China EV delivery numbers come out over the coming weeks that April and May demand look strong not just for Tesla, but domestic EV players such as NIO (NIO), Xpeng (XPEV), Li Auto (LI) and others are seeing robust demand in this key region. He has an Outperform rating and a price target of $1,000 on Tesla's stock.
Volkswagen price target lowered to EUR 245 from EUR 255 at JPMorgan » 12:1105/0705/07/21
JPMorgan analyst Jose…
JPMorgan analyst Jose Asumendi lowered the firm's price target on Volkswagen to EUR 245 from EUR 255 and keeps an Overweight rating on the shares.
Volkswagen price target raised to EUR 290 from EUR 277 at RBC Capital » 10:4505/0705/07/21
RBC Capital analyst Tom…
RBC Capital analyst Tom Narayan raised the firm's price target on Volkswagen to EUR 290 from EUR 277 and keeps an Outperform rating on the shares.
Volkswagen faces no pressure to raise wages in Europe, FT reports » 06:3105/0705/07/21
Volkswagen, Europe's largest private-sector employer, has said it is not under pressure to raise employee wages and forecasts that an economic revival following the pandemic will not cause sustained inflation, Joe Miller and Martin Arnold of The Financial Times reports. "We don't see signs of wage inflation pressure in our major markets. It is difficult to say from today's perspective if this will change, but we don't expect that," said Arno Antlitz, Volkswagen's chief financial officer, according to the Financial Times. Reference Link
Volkswagen sees 2021 operating return on sales 5.5%-7% » 06:2705/0605/06/21
The company said,…
The company said, "Based on the positive business performance in the first quarter of 2021, the Volkswagen Group is raising its forecast for operating profit, net cash flow and net liquidity. he Group anticipates that - assuming successful containment of the Covid-19 pandemic - deliveries to customers in 2021 will be significantly up on the previous year amid continued challenging market conditions. Challenges will arise particularly from the economic situation, the increasing intensity of competition, volatile commodity and foreign exchange markets, securing supply chains and more stringent emissions-related requirements. Sales revenue of the Volkswagen Group in 2021 are expected to be significantly higher than the prior-year figure. In terms of the operating profit, the Group anticipates an operating return on sales of between 5.5 and 7.0 percent in 2021. In the Automotive Division, net cash flow is expected to rise strongly over the prior year with lower cash outflows from diesel and significantly higher effects from mergers and acquisitions, which will lead to a significant rise in net liquidity. The plans are based on the Volkswagen Group's current structures. The intended acquisition of all outstanding shares in Navistar International Corporation and associated effects on the results of operations, financial position and net assets are not included in the Volkswagen Group forecast."
Volkswagen reports Q1 revenue EUR 62.4B vs. EUR 55.1B last year » 06:2305/0605/06/21
Deliveries up 21.2…
Deliveries up 21.2 percent on previous year to 2.4M vehicles, sales of electrified vehicles more than doubled to 133,300 units. Herbert Diess, CEO of the Volkswagen Group: "We started the year with great momentum and are on a strong operational course. This is clearly reflected in our positive quarterly figures. At the same time, we remain fully committed to our transformation into a climate-neutral and software-driven mobility group. Our successful e-offensive continues to gain momentum and we have significantly expanded it with attractive new models. We are also making good progress with the key topic of digitalization and have reached important milestones. There is still much more we can achieve in the remainder of the year."
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VW warns chip shortage to curb output in coming months, Bloomberg reports » 16:0205/0205/02/21
Volkswagen's main car brand expects the global chip shortage to curb production of vehicles in the coming months, but the output of electric cars currently isn't affected by supply bottlenecks, Bloomberg's Christoph Rauwald reports. The shortage in semiconductor components could start to ease in the second half of the year, VW brand chief Ralf Brandstaetter told DPA in an interview published on Saturday. The company plans to make up for lost output as far as possible in the course of the year, the publication adds. Reference Link
SEC to investigate Volkswagen over 'Voltswagen' stunt, Der Spiegel says » 13:2504/2904/29/21
Volkswagen's April Fool's stunt to rename itself "Voltswagen" could have legal consequences, as the U.S. Securities and Exchange Commission is investigating whether the German car maker's share price influenced the PR move, Der Spiegel reports. The probe is at an early stage, as at the beginning of this month the SEC made a request for information from the company, the report says, noting the group confirmed the request for information from the U.S. unit of Volkwagen. Reference Link