Plug-in hybrids continue their collapse without the support of incentives.
Monthly Archive: May 2023
Tesla Autopilot name should change because humans are still in control, Buttigieg says
Filed under: Government/Legal,Tesla,Safety,Emerging Technologies
Tesla Autopilot name should change because humans are still in control, Buttigieg says originally appeared on Autoblog on Sat, 13 May 2023 10:00:00 EDT. Please see our terms for use of feeds.
Permalink | Email this | Comments2023 Lexus RZ 450e: EPA Range And Price Overview
It's much quicker than the Toyota bZ4X and Subaru Solterra cousins.
2023 Lexus RZ 450e: EPA Range And Price Overview
It's much quicker than the Toyota bZ4X and Subaru Solterra cousins.
Largest US pension cuts stake in NIO, liquidates Li Auto in Q1
CalPERS liquidated its position in XPeng in the third quarter of 2022.
The largest US public pension continued to trim its investment in Chinese electric vehicle (EV) stocks in the first quarter.
The California Public Employees' Retirement System (CalPERS) owned 2,210,446 shares of NIO's US-traded ADRs at the end of the first quarter, according to a 13F report dated May 12.
This is down 390,806 shares, or 15.02 percent, from 2,601,252 at the end of the fourth quarter of 2022.
The pension's holdings in NIO were worth $23.23 million at the end of the first quarter, down 8.4 percent from 25.36 million at the end of the fourth quarter.
CalPERS now has about $440 billion in assets under management and is the largest public pension in the US. It opened a position in NIO in the first quarter of 2019, when it bought 140,451 shares. NIO went public in the US on September 12, 2018.
CalPERS cut its position in NIO by 10.79 percent in the fourth quarter of last year. The value of the pension's holdings in NIO fell 44.85 percent during the fourth quarter due to a large drop in NIO's stock price during the period.
In the third quarter of 2022, CalPERS liquidated its position in XPeng (NYSE: XPEV) while increasing its stake in NIO by 18.20 percent. As of the end of the first quarter, it still did not own any XPeng shares.
The pension liquidated its position in Li Auto, another Chinese EV company, in the first quarter. CalPERS held 1,136,298 shares of Li Auto at the end of the fourth quarter last year.
NIO, XPeng and Li Auto all rose in the first quarter, up 7.79 percent, 9.14 percent and 22.3 percent, respectively.
Several prominent hedge funds reduced their positions in these three Chinese EV companies in the first quarter.
Bridgewater reduced its holdings in NIO by 40.53 percent, XPeng by 25.98 percent and Li Auto by 54.69 percent in the first quarter, according to Friday's Form 13F.
Renaissance cut its position in NIO by 0.16 percent, XPeng by 98.88 percent and Li Auto by 20.44 percent during the first quarter.
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China became the world’s largest vehicle exporter in Q1 2023, surpassing Japan
By continents, Chinese vehicles are mainly exported to:
- Africa: Egypt and South Africa
- Asia: Saudi Arabia, India, Thailand, and Vietnam
- Europe: Russia and the UK
- North America: USA, Mexico, and the Caribbean
- South America: Brazil, Chile, Peru, and Ecuador
The post China became the world’s largest vehicle exporter in Q1 2023, surpassing Japan appeared first on CarNewsChina.com.
Ford begins testing fuel-cell E-Transit in the U.K.
Filed under: Green,Ford,Alternative Fuels,Minivan/Van,Commercial Vehicles,Electric,Hydrogen Cars
Continue reading Ford begins testing fuel-cell E-Transit in the U.K.
Ford begins testing fuel-cell E-Transit in the U.K. originally appeared on Autoblog on Sat, 13 May 2023 09:00:00 EDT. Please see our terms for use of feeds.
Permalink | Email this | CommentsNHTSA demands recall of 67 million airbag inflators made by ARC Automotive
Filed under: Government/Legal,Recalls,Safety
Continue reading NHTSA demands recall of 67 million airbag inflators made by ARC Automotive
NHTSA demands recall of 67 million airbag inflators made by ARC Automotive originally appeared on Autoblog on Sat, 13 May 2023 08:53:00 EDT. Please see our terms for use of feeds.
Permalink | Email this | CommentsBridgewater cuts positions in NIO, XPeng, Li Auto in Q1
Bridgewater reduced its holdings in NIO by 40.53 percent, XPeng by 25.98 percent and Li Auto by 54.69 percent in the first quarter.
Bridgewater Associates, the world's largest hedge fund founded by renowned investor Ray Dalio, reduced its position in the Chinese electric vehicle (EV) trio in the first quarter, the second consecutive quarter it did so.
Bridgewater held 2,526,156 US-traded ADRs of NIO (NYSE: NIO) at the end of the first quarter, down 1,721,751 shares, or 40.53 percent, from 4,247,907 at the end of the fourth quarter, according to a Form 13F it filed with the SEC on Friday.
The value of Bridgewater's holdings in NIO was $26.55 million at the end of the first quarter, down $14.87 million, or 35.90 percent, from $41.42 million at the end of the fourth quarter.
Bridgewater's holdings in NIO decreased by 27.91 percent in the fourth quarter of last year. Prior to that, the fund's position in NIO had grown for five consecutive quarters.
At the end of the first quarter, Bridgewater's holdings in XPeng (NYSE: XPEV) stood at 1,501,493, a decrease of 527,119, or 25.98 percent, from the end of the fourth quarter.
The fund's holdings in XPeng were last valued at $16.68 million, a decrease of 17.27 percent from the end of the fourth quarter.
Bridgewater's holdings in XPeng decreased by 6.15 percent during the fourth quarter of last year. This followed three quarters of increased or unchanged holdings.
Bridgewater's holdings in Li Auto's US-traded ADRs were 792,442 shares at the end of the first quarter, a decrease of 956,375 shares or 54.69 percent from the end of the fourth quarter.
Bridgewater's Li Auto position had a value of $19.77 million at the end of the first quarter, a decrease of 44.58 percent from the end of the fourth quarter.
NIO, XPeng, and Li Auto all gained in the first quarter, up 7.79 percent, 9.14 percent, and 22.3 percent, respectively.
Renaissance keeps NIO position stable in Q1, nearly liquidates position in XPeng
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Can Tesla’s Price War Accelerate Electrification?
Tesla’s price reductions in the first quarter of the year have sent waves through the auto industry. As legacy automakers and startups both try to catch up to Tesla’s electric vehicle dominance, some are wondering if the automaker’s price cuts could actually spur on a quicker transition to EVs. While the affordability of EVs remains […]
