Tesla’s quarterly profit hits record high

According to Tesla’s financial report on July 26, the company’s GAAP net profit last quarter reached a record high of US$1.14 billion; quarterly revenue nearly doubled to US$11.9 billion; gross profit margin of the automotive business reached 28%; regulatory points belt There was a revenue of 354 million U.S. dollars, a decrease of 17% from the same period last year.

Musk attacked Apple twice in the conference call

In Tesla’s earnings call, Tesla CEO Musk twice criticized his neighbor Apple. Although the two companies are not currently in direct competition, the Apple Titan project has attracted many engineers and executives from Tesla. For example, the Titan project is in charge of Doug Field, who has worked at Tesla for 5 years.

Tata’s quarterly loss is higher than industry expectations

India’s Tata Motors announced that it lost 44.5 billion rupees (US$598 million) in the three months ended June 30, which is lower than the loss of 84.4 billion rupees in the same period last year, but far higher than the 210 billion predicted by analysts. A loss of crore rupees.

Tata said performance will improve in the second half of the fiscal year

On July 26, Tata Motors stated that it expects to improve its performance in the second half of the fiscal year. Among them, the demand for Jaguar Land Rover and Indian passenger vehicles is still strong, and the demand for commercial vehicles is gradually improving. However, semiconductor shortages, rising raw material prices, and the uncertainty of the epidemic will still have an impact in the short term.

REE Motors will start producing two models in 2023

The CEO of REE Motors stated that the company plans to start producing an electric van and a passenger car in 2023. Last week, the Israeli start-up company received shareholder approval to conduct a backdoor listing with the special acquisition company 10X Capital Venture acquisition.

China’s auto factory cuts production by 355,000 due to lack of core

According to the latest data from the industry forecasting company AutoForecast Solutions, in recent weeks, due to chip shortages, the planned output of Chinese auto factories has decreased by 355,000 units. Among them, Volkswagen’s factories in China have been severely affected. In addition, Volkswagen told shareholders last week that due to supply shortages, the company has cut production plans for hundreds of thousands of vehicles worldwide.

Lordstown Receives Hedge Fund Investment Commitment

On July 26, Lordstown Motor Company stated that the hedge fund YA II PN Ltd has committed to purchase up to US$400 million in shares of the company within three years. This commitment is very important to Lordstown. At present, the company’s backdoor listing and vehicle orders are facing regulatory investigations.

Lucid Motors officially listed

After Lucid Motors completed the merger with SPAC, it was officially listed on July 26 under the stock code of LCID. On the first day of trading, the company’s stock price rose 5.9% to close at $24.25.

Canoo appoints new president

On July 26, the electric car startup Canoo Inc. appointed Josette Sheeran, a former diplomat, as the company’s president. Sheeran joined Canoo’s board of directors in December last year as the executive chairman of the McCain Institute, a think tank in Washington.

Source: Shanghai Kinmachi New Material Technology organized from the Internet

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