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Electric Vehicle Companies in the Automotive Industry – Success Despite Corona virus

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Electric Vehicle Companies in the Automotive Industry - Success Despite Corona virus

The general automotive industry is slowing faster than expected, and the shift is bringing massive economic threats. Companies like Rivian, Tesla (NASDAQ:TSLA), Ford (NYSE:F) and Franchise Holdings International (OTC:FNHI) innovate in the electric vehicle space despite any economic threats like the coronavirus, and guess what they are doing great!

Runner Ups 

The market also offers a dozen fully electric and mass-production sedans, sports cars, and SUVs available, to US buyers at least. And these models vary in terms of cost, range, and power- and quite a bit. But, plenty of exciting electric cars are on the horizon, including a go-anywhere pickup from Rivian and an all-electric version of Ford F-150 (NYSE:F). Then there’s the Nissan Leaf (OTC:NSANY) which is the most affordable all-electric car on the market as its price starts at $31,600. For $31,895, you can even buy a Volkswagen e-Golf (OTC:VWAGY) with fast-charging capability and an EPA-estimated 125-mile range. Altough EPA-estimated 84 miles of range, if you only need a car to drive through the city, there’s also Fiat 500e (NYSE:FCAU). And there’s General Motors’ pricey electric attempt (NYSE:GM) Chevrolet Bolt which has fancy features like an optional Bose stereo system and a standard heated steering wheel. So, you already have quite a bit when it comes to EVs but a lot more is yet to come.

Solar Power

Just because not everyone is Tesla, there is no reason to believe Tesla will rule the EV throne for good in the Automotive Industry. Companies such as Worksport from Franchise Holdings International (OTC:FNHI) are going even further by incorporating solar technology into tonneau covers for pickups, possibly extending the driving range of any electric vehicle. Its TerraVis has made solar technology accessible and provided limitless possibilities for enhancement of EVS as afterall solar energy is the most abundant source we have. And in the world where electric vehicles are unattainable for many due to their high price range, TerraVis is about to make renewable energy sources accessible to everyday truck users as it doesn’t even require them to purchase a new vehicle. And this is what sets Worksport ahead of its competitors as its TerraVis system is completely customizable in nature, allowing each user to create a version for their individual truck, lifestyle and needs.

Electric Vehicles

By 2025, it is estimated that there will be 130 EV models from which customers can choose from. So make no mistake: the quiet revolution is underway marking the trend towards low- and no-emission vehicles. These new zero-emission cars, crossovers, and SUVs are the result of enormous investments by auto manufacturers, and they’re investing $225 billion over the next five years to electrify their fleets.

Tesla Model Y Delivery – It’s Almost Here!

Tesla Model Y deliveries are beginning earlier than thought- way earlier. Tesla’s guidance was for Model Y deliveries to start in the second half of 2020, so this means that production has been going so smoothly that everything is even ahead of schedule. But much of this is also due to the fact that this model shares approximately 75% of its parts with the Model 3, and that makes it much easier for Tesla to get the electric crossover into production, mass production that is and without hiccups. No doubt that Tesla overall has matured as a company, bringing its know-how into action.

Outlook

The Coronavirus has entered the building and since automotive manufacturing relies heavily on global supply chains for components, with China being a major producer, if only one part of the supply chain is disrupted, the ripple effect will be felt throughout the industry. But as the global auto industry is embracing the shock and consequences of its mature life cycle, there is one which will continue to thrive despite Coronavirus, which is afterall a Black Swan event that will pass. And you did not have to attend last month’s Los Angeles Auto Show to realise the rewards these vehicles bring to consumers, the planet, and the overall economy.

The trend where the automotive industry is beyond clear: people and goods can move with cleaner, low carbon and more efficient technologies. But the critical component to this transformative shift is for customers to accept the product: its price, quality and convenience. . And these normal barriers to widespread customer acceptance of any products  are being overcome as we speak.  Battery costs are also a fraction of what they were, but they still need work done to become even more competitive. But auto companies have seen the future, and the future is electric, no discussion there. And the space for further inventions is truly endless.

This article is not a press release and is contributed by Ivana Rzehak Popovic who is a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full disclosure . Ivana Rzehak Popovic does not hold any position in the mentioned companies. Press Releases – If you are looking for full Press release distribution contact: press@iamnewswire.com Contributors – IAM Newswire accepts pitches. If you’re interested in becoming an IAM journalist contact: contributors@iamnewswire.com Questions about this release can be send to ivana@iamnewswire.com IAM NEWSWIRE 1712 Pioneer Ave, Suite 101, Cheyenne, WY 82001 Wyoming +16465853588

BenzingaEditorial

This Week Will Be About More Than Inauguration Day Alone

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Since 2020 March lows, the market saw a nothing short of extraordinary record-shattering rally. But how much higher can it go as COVID continues to rage across the US and Europe? That answer will become a bit clearer as traders have returned from the long holiday weekend and equity markets have reopened. This week will be defined by the first days of the Biden administration and by another batch of corporate earnings reports.

Inauguration in times of COVID-19

On Wednesday, president-elect Joe Biden’s inauguration ceremony will take place as a dialed-down event, due to the ongoing pandemic. Americans have been urged to avoid the city on the day, given the risk of violence surrounding the event. Last Wednesday, Airbnb (NASDAQ: ABNB) announced it would block and cancel reservations in the D.C. metro area this week, refunding guests and reimbursing hosts who already made bookings. Interestingly, the stock rallied nearly 6% upon the announcement. Marriott (NASDAQ: MAR) which has close to 200 hotels in the D.C. area and owns brands including The Ritz-Carlton said it would honor existing reservations, along with IntercontinentalHotelGroup (NYSE: IHG), Hilton (NYSE: HLT), Hyatt (NYSE: H) and Expedia-owned VRBO (NASDAQ: EXPE).

Biden also said he aims to roll out 100 million vaccines in his first 100 days in office, which would significantly accelerate the pace of current efforts to counteract the pandemic. On January 20th, Biden is seeking to sign about a dozen executive actions to address the pandemic, as well as a virus-stricken economy, climate change and racial equity.

Earnings

One of this week’s key earnings reports will come from Netflix (NASDAQ: NFLX) on Tuesday after market close. Last quarter’s results showed disappointing signs that the skyrocketing user growth that Netflix enjoyed during pandemic was slowing down. The streaming giant missed even its own conservative third-quarter new subscriber guidance for the summer, adding just 2.2 million new members as opposed the 2.5 million the company had expected. For the fourth quarter, Netflix expects 6 million net paid additions to its streaming platform, representing another YoY decline after adding 8.8 million in the fourth quarter of 2019.

Netflix, while still the leader among U.S. streaming platforms when it comes to total users, has also faced increasing competition over the past year, especially from relative newcomer Disney+ (NYSE: DIS). Disney’s streaming service had 86.8 million paying subscribers as of December 2nd, compared to the more than 195 million Netflix reported at the end of September. Disney also revealed it would be raising the monthly price of its streaming subscription starting in March, suggesting the entertainment giant believes it has the user demand and pricing power to command higher fees. Netflix needs to prove it can maintain its status as the king of streaming among this intense competition.

Wall Street expects earnings $1.38 per share on revenue of $6.61 billion, compared to the year-ago quarter when earnings were $1.30 per share on $5.47 billion in revenue.

Also, on Tuesday, Tuesday: Halliburton (NYSE: HAL), Charles Schwab (NYSE: SCHW), Bank of America (NYSE: BAC) and Goldman Sachs (NYSE: GS) will report their earnings before market open.

Wednesday

Morgan Stanley (NYSE: MS), US Bancorp (NYSE: USB), Citizens Financial Group (NYSE: CFG), Bank of New York Mellon Co. (NYSE: BK), Procter & Gamble (NYSE: PG), UnitedHealth Group (NYSE: UNH) will report before market open whereas Alcoa (NYSE: AA) and United Airlines (NASDAQ: UAL) will report after market close. Wall Street expects United Airlines to lose $6.58 per share on revenue of $3.46 billion. This compares to the year-ago quarter when earnings came to $2.67 per share on revenue of $10.89 billion. United had some $24 billion of capital expenditure commitments as of Q3 so amid the decline in travel demand, its aim is to reduce that spending as much as possible. Investors will be looking at such economic improvements to justify the argument that UAL is better positioned than other airlines to survive this downturn.

Thursday will feature IBM and Intel

Wall Street expects International Business Machines Corporation (NYSE: IBM) to earn $1.79 per share on revenue of $20.63 billion but what investors are really wondering is when will the real turnaround begin? Its cloud ambitions have promised to return value to shareholders, but shares still haven’t regained even their pre-COVID levels while the rest of the market has seen record highs. Cloud leaders such as Amazon (NASDAQ: AMZN), Microsoft (NASDAQ: MSFT) and Google (NASDAQ: GOOG)(NASDAQ: GOOGL) are seemingly too far ahead for IBM to catch up. The new CEO Arvind Krishna is tasked with elevating Big Blue into a leading cloud and AI position, while distancing the company from the legacy business. Investors want to hear progress on these fronts.

Truist Financial (NYSE: TFC), Baker Hughes (NYSE: BKR), Union Pacific (NYSE: UNP) will also report on the same day before market open and Intel (NASDAQ: INTC) will make its appearance after market close.  Wall Street expects Intel to earn $1.10 per share on revenue of $17.48 billion, whereas the same quarter last year saw earnings of $1.52 per share on revenue of $20.21 billion. Intel shares have soared more than 10% Wednesday after the company confirmed that CEO Bob Swan will step down on February 15 and be replaced by Pat Gelsinger, the current CEO of VMWare (NYSE: VMW). On several important chip development fronts, Intel has lost ground to rivals AMD (NASDAQ: AMD) and Nvidia (NASDAQ: NVDA). On Thursday, it must show the right things to support the confidence that Gelsinger can turn things around and quickly.

The week will be closed on Friday with earnings from Kansas City Southern (NYSE: KSU), Schlumberger (NYSE: SLB) and Ally Invest (NYSE: ALLY) who will all report before the stock market opens.

The inauguration may signal a dramatic shift and increase in government spending, but it remains to be seen whether hopes of a transformation can survive the reality of a narrowly divided Congress.

This article is not a press release and is contributed by a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full disclosure. IAM Newswire does not hold any position in the mentioned companies. Press Releases – If you are looking for full Press release distribution contact: press@iamnewswire.com Contributors – IAM Newswire accepts pitches. If you’re interested in becoming an IAM journalist contact: contributors@iamnewswire.com

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BenzingaEditorial

This Week’s IPOs

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This week brings us four IPOs which are aiming to raise $1.8 billion. These four companies operate in different markets and they come from different countries, but they share at least one thing, they all want to go public.

RLX Technology

RLX Technology (NYSE: RLX) is a leading e-cigarette brand in China. The company announced its terms for its IPO on Friday, and it plans to $1.0 billion through offering 116.5 million units at a price between $8 and $10. That means RLX Technology would have a market cap of $14.0 billion. This company is profitable and fast-growing. In 2019, it was holding around 63% of the e-vapor market share in China. RLX believes in the strength of the retails sales, therefore it has more than 110 authorized distributors, so their products are present in more than 250 cities in China, through 5,000 branded stores and over 100,000 other retail outlets. As of the end of September 2020, the revenues have doubled compared to 2019. This is all very promising having in mind that the company was founded in 2018.

Patria Investments

One of the leading private markets investment firms in Brazil and Latin America, Patria Investments Limited (NASDQAQ: PAX), announced that it has launched its IPO. The company offers 26,650,000 Class A common shares in total. The estimated price range of the offered units is between $14 and $16, so the plan is to raise $400 million at a $2.0 billion market cap. The net proceeds from the offering are planned to be used for general corporate purposes, expansion of the company’s operations (through new distribution channels, acquisitions of asset managers and portfolios), and to fund capital commitments to its existing and new contracts. As one of the leading PE firms in Brazil, the company’s investment portfolio includes over 55 companies and it has raised more than $8.7 billion since 2015.

MYT Netherlands

MYT Netherlands (NYSE: MYTE), a Germany-based luxury fashion site, which operates under the brand name Mytheresa, likes to say it offers the Finest Edit in Luxury Fashion. As in the company’s store with the same name (The Mytheresa store in Munich), fashion “doyens” can find some of the renowned brands like Balmain, Gucci, Prada, Saint Laurent, and Fendi, and their latest collections. As the pandemic has ravaged the luxury goods sector, the salvation might be in the online sales of luxury goods, which rose between 12% and 23%. Therefore, Mytheresa decided to go public, planning to raise $266 million at a $1.5 billion market cap and to focus on offering clothing, shoes, and accessories from many luxury brands through its e-commerce platform.

Dream Finders Homes 

After successful completion of several acquisitions and expanding nationally, the Florida-based homebuilder Dream Finders Homes (NASDAQ: DFH) decided to launch its IPO and to raise $130 million at a $1.2 billion market cap. For the first nine months of 2020, the company announced an increase of 29% of pro forma revenues (pro forma – a method of calculating financial results using certain projections or presumptions) and an increased EBITDA margin of 9%.

These companies and their IPOs are offering a lot of variety and potential. So far, 2021 looks promising.

This article is not a press release and is contributed by a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full disclosure. IAM Newswire does not hold any position in the mentioned companies. Press Releases – If you are looking for full Press release distribution contact: press@iamnewswire.com Contributors – IAM Newswire accepts pitches. If you’re interested in becoming an IAM journalist contact: contributors@iamnewswire.com

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Ideanomics Announces MEG December and Q4 Sales Activity

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NEW YORKJan. 15, 2021 /PRNewswire/ — Ideanomics (NASDAQ: IDEX) (“Ideanomics” or the “Company”) announces its Mobile Energy Global (MEG) division’s sales activities for the month of December and Q4 2020.

For the period starting December 1, 2020, through December 31, 2020, MEG delivered a total of 439 units, of which 356 were for the taxi/ride-hailing business segment, and the remaining 83 were for the rental car business segment. All units, invoiced during the period from July through December 2020, were delivered. The fourth quarter’s activities also include the delivery of one charging system and 13 CATL battery systems which are part of an ongoing order for converting diesel-powered buses to battery electric vehicles (BEVs). The fourth quarter results do not include any units from the recently announced deal with BYD and Didi for 2,000 units of their D1 ride hailing vehicle.

About Ideanomics

Ideanomics is a global company focused on the convergence of financial services and industries experiencing technological disruption. Our Mobile Energy Global (MEG) division is a service provider which facilitates the adoption of electric vehicles by commercial fleet operators through offering vehicle procurement, finance and leasing, and energy management solutions under our innovative sales to financing to charging (S2F2C) business model. Ideanomics Capital is focused on disruptive fintech solutions for the financial services industry. Together, MEG and Ideanomics Capital provide our global customers and partners with leading technologies and services designed to improve transparency, efficiency, and accountability, and our shareholders with the opportunity to participate in high-potential, growth industries.

The company is headquartered in New York, NY, with offices in BeijingHangzhou, and Qingdao, and operations in the U.S., ChinaUkraine, and Malaysia.

Safe Harbor Statement

This press release contains certain statements that may include “forward looking statements”. All statements other than statements of historical fact included herein are “forward-looking statements.” These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects” or similar expressions, involve known and unknown risks and uncertainties, and include statements regarding our intention to transition our business model to become a next-generation financial technology company, our business strategy and planned product offerings, our intention to phase out our oil trading and consumer electronics businesses, and potential future financial results. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of risks and uncertainties, such as risks related to: our ability to continue as a going concern; our ability to raise additional financing to meet our business requirements; the transformation of our business model; fluctuations in our operating results; strain to our personnel management, financial systems and other resources as we grow our business; our ability to attract and retain key employees and senior management; competitive pressure; our international operations; and other risks and uncertainties disclosed under the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our most recent Form 10-K and Form 10-Q filed with the Securities and Exchange Commission, and similar disclosures in subsequent reports filed with the SEC, which are available on the SEC website at www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these risk factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

Investor Relations and Media Contact

Ideanomics,Inc.
Tony Sklar, SVP of Investor Relations
1441 Broadway, Suite 5116, New York, NY 10018
ir@ideanomics.com

Valerie Christopherson / Lora Wilson
Global Results Communications (GRC)
+1 949 306 6476
valeriec@globalresultspr.com

 

SOURCE Ideanomics

This article appeared first on here.

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