That is how Volkswagen wants to challenge Google

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Germany to support three battery cell alliances – economy minister

BERLIN (Reuters) – Germany will support three company alliances with earmarked funds of 1 billion euros for the domestic production of battery cells in an effort to reduce carmakers’ dependence on Asian suppliers, Economy Minister Peter Altmaier told Reuters. German Economy Minister Peter Altmaier is pictured during an interview with Reuters in his ministry building… Continue reading Germany to support three battery cell alliances – economy minister

Aston Martin Valhalla name announced for 003 Concept

Aston Martin has confirmed its new mid-engined hypercar will be called the Valhalla. Due to launch in 2021 the British brand’s rival for the McLaren Senna was first previewed as a concept at this year’s Geneva Motor Show. Aston Martin Valhalla production will be limited to 500 coupe examples, with each costing around £1 million.… Continue reading Aston Martin Valhalla name announced for 003 Concept

Fiat and Renault resume negotiations for the merger

As pointed out by an Italian economic newspaper, the top authorities of both automotive brands have resumed contacts on the merger. Undoubtedly, the merger between the Italian and French brands is being the summer soap opera in the automotive world. After Fiat’s tough statement announcing that it was withdrawing its merger offer with Renault for… Continue reading Fiat and Renault resume negotiations for the merger

Volkswagen to introduce new software unit

Volkswagen AG intends to group more than 5,000 digital experts together in its new “Car.Software” unit with Group responsibility for software in the vehicle by 2025. The company plans to develop significantly more software in the car and for vehicle-related services itself and to boost the in-house share of software development from the current figure… Continue reading Volkswagen to introduce new software unit

Nvidia: Supercomputer to push development

Nvidia has provided a supercomputer for accelerating the development of autonomous driving. Nvidia is also working on the development of autonomous driving and provides computing capacity for some industry stakeholders. Specifically for over 225 companies, including Audi, Mercedes Benz. Toyota. TuSimple. Volvo or ZF. This computing capacity is used for example Artificial intelligence in the… Continue reading Nvidia: Supercomputer to push development

Tesla is having its best week since October, but investor says bear case is still strong

VIDEO1:5401:54The bear case for Tesla remains strong, market watcher saysTrading NationTesla is back in gear.
The stock has rallied 12% this week in its best weekly stretch since October. Since a low Monday morning, it has revved 17% higher.
“For the bulls on Tesla you're really happy that the month of May is over and June has come. What a rally in the stock,” John Petrides, managing director and portfolio manager at Point View Wealth Management, said Thursday on CNBC's “Trading Nation. ”
Now Tesla faces two potential paths, he said.
“I really do think the stock is at a crossroads here. Tesla is a very polarizing name. You either have a strong conviction on the upside or you have a strong conviction on the downside – there's no in between,” Petrides said.
While bulls have rushed in this week, Tesla still generates a lot of skepticism on Wall Street. The stock is one of the most heavily shorted at 31.4% of its float. High short interest levels indicate a large number of investors are making a bet the shares will move lower.
Petrides said both the bulls and the bears have their talking points, but he leans toward one of those arguments.
“If you're buying here today, you're buying it for the long term. You think that Tesla will continue to dominate the electronic market five years from now. Or you think they're going to drown in their own debt and burn through cash and the stock is going to go consistently lower,” he said. “We're on the case of the bear side.”
Tesla's high debt load has caused concern among Wall Street firms and investors. Morgan Stanley recently cited Tesla's debt load and access to capital alongside weaker demand as reasons for concern over its stock price. The firm said its worst-case scenario would take the stock down to $10.
“We think that valuation is just not attractive for this capital-intensive business where more competition has come into the market,” added Petrides.
Tesla's price-earnings ratio, a measure of valuation, still trades as high as 121 times forward earnings even after the stock's steep decline this year. The Invesco QQQ ETF, which tracks the Nasdaq 100, trades at just 20 times forward earnings.
Even with this week's rally, Tesla shares remain on track for their worst annual performance ever. The stock has fallen 37% since the beginning of the year.