Eaton Corporation ETN reported third-quarter 2021 earnings of $1.75 per share, which surpassed the Zacks Consensus Estimate of $1.73 by 1.2%. Furthermore, earnings were up 30% year over year. The bottom line was within the expected range of $1.72-$1.82 per share. GAAP earnings for the reported quarter were $1.57 per share compared with $1.11 in… Continue reading Eaton (ETN) Q3 Earnings Surpass Estimates, Revenues Lag
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BorgWarner (BWA) Beats on Q3 Earnings, Dims ’21 Projections
BorgWarner Inc. BWA reported adjusted earnings of 80 cents per share for third-quarter 2021, declining from 88 cents recorded in the prior-year period. The bottom line, however, beat the Zacks Consensus Estimate of 66 cents. Higher-than-anticipated revenues from Air Management and Aftermarket segments resulted in the outperformance. This automotive equipment supplier reported net sales of… Continue reading BorgWarner (BWA) Beats on Q3 Earnings, Dims ’21 Projections
Fisker Secures Long-term Battery Capacity With CATL for the Fisker Ocean SUV
Fisker and CATL agree to over 5 gigawatt-hours (GWh) annual battery capacity for the Fisker Ocean SUV. Fisker will utilize CATL’s unique dual-chemistry cell capability to optimize performance, application, cost and market position across the Fisker Ocean option package lineup. Fisker and CATL to optimize battery pack structure to support Fisker Ocean packaging requirements. CATL… Continue reading Fisker Secures Long-term Battery Capacity With CATL for the Fisker Ocean SUV
Lear (LEA) Misses Q3 Earnings Estimates
Lear (LEA) came out with quarterly earnings of $0.53 per share, missing the Zacks Consensus Estimate of $0.56 per share. This compares to earnings of $3.73 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -5.36%. A quarter ago, it was expected that this… Continue reading Lear (LEA) Misses Q3 Earnings Estimates
Nio stock sinks after October deliveries fall
Shares of Nio Inc. sank 4.1% in premarket trading Monday, after the China-based electric vehicle company reported October deliveries that fell 27.% from a year ago, as restructuring, upgrading of manufacturing lines and preparation of new products acted as drag. The company delivered 3,667 vehicles in October, consisting of 218 ES8 six- or seven-seater SUVs… Continue reading Nio stock sinks after October deliveries fall
NIO Inc. Provides October 2021 Delivery Update
NIO delivered 3,667 vehicles in October 2021, decreasing by 27.5% year-over-year due to restructuring and upgrades of manufacturing lines and preparation of new products introduction Cumulative deliveries of the ES8, ES6 and EC6 as of October 31, 2021 reached 145,703 SHANGHAI, China, Nov. 01, 2021 (GLOBE NEWSWIRE) — NIO Inc. (“NIO” or the “Company”) (NYSE:… Continue reading NIO Inc. Provides October 2021 Delivery Update
China EV Sales: Xpeng Deliveries Triple, Stock Retakes Buy Point, Li Sales Double, Nio Tumbles
Motley Fool Why Is Honda Chasing Tesla’s CEO Into Space? Elon Musk’s Tesla (NASDAQ: TSLA) achieved a $1 trillion valuation earlier this week as the electric car company continued to disrupt the established car industry with new technologies such as autonomous driving software, solar power, and rechargeable batteries. Perhaps inspired by this success, Honda Motor… Continue reading China EV Sales: Xpeng Deliveries Triple, Stock Retakes Buy Point, Li Sales Double, Nio Tumbles
Chinese Carmaker BYD Seeks Up to $1.8 Billion in Share Placement
(Bloomberg) — Chinese car and battery maker BYD Co. is seeking to raise up to $1.8 billion in a share placement, according to terms obtained by Bloomberg. Most Read from Bloomberg The Shenzhen-based company is looking to sell 50 million H-shares at HK$273.5 to HK$279.5 each, which represents an up to 7.8% discount to its… Continue reading Chinese Carmaker BYD Seeks Up to $1.8 Billion in Share Placement
Spicer Electrified™ e-Powertrain from Dana Earns Two Technology Awards at 2021 Diesel Progress Summit
MAUMEE, Ohio, Oct. 28, 2021 /PRNewswire/ — Dana Incorporated (NYSE: DAN) announced today that it has earned the New Power Technology Award and the Achievement of the Year Award for its Spicer Electrified™ e-Powertrain at the 2021 Diesel Progress Summit and Awards, held this week. Dana Incorporated logo. (PRNewsFoto/Dana Incorporated) The awards recognize Dana’s ability… Continue reading Spicer Electrified™ e-Powertrain from Dana Earns Two Technology Awards at 2021 Diesel Progress Summit
Sale of majority of Modine’s automotive business to Dana Inc. terminated
Reuters Phillips 66 to buy remaining stake in partnership for $3.4 billion (Reuters) -Phillips 66 said on Wednesday it will buy the remaining units of Phillips 66 Partners it does not already own for $3.4 billion, as the refiner aims to simplify its governance and corporate structure. Phillips 66 Partners was formed by the refiner… Continue reading Sale of majority of Modine’s automotive business to Dana Inc. terminated