A CleanTechnica interviewee argues that automakers cannot make the excuse that it's too complicated to know who their suppliers are and how their suppliers are violating human rights.
Category: eV
Tesla Model S Plaid Track Package Unlocks 200 MPH Top Speed & Track-Level Performance
Tesla (TSLA) has finally unveiled the goodies that can unleash the full potential of a Model S Plaid. Tesla enthusiasts have been waiting for this option since the electric automaker delivered the first Plaid Model S in June 2021. The automaker is now offering a hardware and software bundle called the Track Package. The Tesla […]
US Treasury Announces New Solar Tax Credit Guidance
The US Treasury Department has just issued new rules regarding tax credits for solar power installations in the US. Not everyone is happy.
VW Brings Back Its Iconic Race Support Vans, This Time As EVs
Normally, a van wouldn’t be your first thought for racing. They’re big, their center of gravity isn’t low, and they tend to not be very fast except perhaps in straight lines. There are some notable exceptions to this rule, but in general, few think of vans when they think of hitting the pavement and racing, […]
Italy’s EV Market Kept Afloat By High Tesla Sales
Originally published on opportunity:energy. Italy’s shift to electric mobility is experiencing an uncertain path, following what was a very promising exponential growth rate that lasted until 2021. As 2022 proved to be a lost opportunity, much in contrast with other major European countries, 2023 is progressing with rather mixed signals. Official stats for the first […]
These Were The World’s Top-Selling Electric Cars In 2022
Tesla holds the top two spots, followed by the Wuling Hongguang Mini EV. But there are many surprises.
Germany: All-Electric Car Sales Increased In April 2023 By 34%
Plug-in hybrids continue their collapse without the support of incentives.
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.
The post Largest US pension cuts stake in NIO, liquidates Li Auto in Q1 appeared first on CnEVPost.
For more articles, please visit CnEVPost.
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.
