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Shares of US automakers, including Rivian and Tesla, declined following reports that President-elect Donald Trump intends to eliminate the $7,500 tax credit for electric vehicle purchases. This move is part of a broader tax-reform discussion by Trump's transition team, with Tesla representatives also supporting the end of the subsidy.
Volkswagen Group has increased its investment in a joint venture with Rivian Automotive to up to $5.8 billion, with the first VW models utilizing Rivian's software expected by 2027. The partnership aims to integrate Rivian's technology across various VW brands, starting with Volkswagen and Audi. The joint venture will be led by executives from both companies and will focus on software development, with initial teams based in Palo Alto, California.
Volkswagen AG has increased its investment in Rivian Automotive Inc. by $800 million, reinforcing their multibillion-dollar joint venture aimed at developing battery-powered vehicles. This move comes as VW seeks to leverage Rivian's software technology amid concerns over the latter's cash burn and a potential decline in global EV demand. The total investment from VW is expected to reach up to $5 billion.
The Wall Street rally following Donald Trump's election victory paused, with the S&P 500 and Dow poised for muted openings after a strong week. The Federal Reserve's recent interest rate cut and positive economic outlook from Chairman Jerome Powell added to the market's mixed sentiment.Bank of America downgraded Rivian to neutral, citing concerns over regulatory credits under a potential Trump administration, despite Rivian's optimistic earnings report. Meanwhile, Molson Coors received a double-upgrade from Wells Fargo after a strong quarter, raising questions about a potential resurgence in the struggling beer market.
Rivian Automotive Inc. remains committed to achieving a positive gross profit in the last quarter of the year, despite facing supply-chain challenges that impacted electric vehicle production. The company anticipates meeting its target due to a higher proportion of premium model sales and revenue from regulatory credits. In the third quarter, Rivian reported an adjusted loss of 99 cents per share, exceeding analysts' expectations of a 92-cent deficit.
Angel investor Alex Roy introduces "Narrative Command," a concept emphasizing the importance of storytelling in a startup's success, alongside operational mastery. He argues that a startup can define its market narrative, compelling competitors to align with it, as seen with Tesla. Roy believes that successful founders can thrive regardless of political climates by focusing on shared goals for societal betterment.
The 2024 US election could significantly influence the stock market, with distinct impacts depending on whether Donald Trump or Kamala Harris wins. A Trump victory may boost energy, defense, and financial sectors, while potentially mixed effects could arise in technology and automotive industries. Conversely, a Harris win is likely to favor clean energy, healthcare reforms, and infrastructure spending, while introducing uncertainty in AI-related stocks.
The electric vehicle (EV) market is rapidly evolving, highlighted by QuantumScape's breakthrough in solid-state battery technology, which features an anode-free design and boasts over 800 Wh/L energy density with fast charging capabilities. As the company begins B Sample testing, it aims to enhance battery metrics and reduce costs through its new Cobra production process. This innovation positions QuantumScape and its partners, like Volkswagen, to potentially reshape the competitive landscape in the EV sector.
The technology, healthcare, and green energy sectors are poised for significant growth by 2025, driven by advancements in AI, 5G, and biotechnology, alongside a global shift towards renewable energy. Telemedicine and digital health innovations are transforming healthcare, while the push for carbon neutrality accelerates investments in solar, wind, and hydrogen energy. These sectors present attractive opportunities for investors amid ongoing economic transformations.
Rivian has lowered its 2024 production forecast from 57,000 to 47,000-49,000 vehicles due to supply chain issues, impacting market expectations. Despite these challenges, the company remains financially stable and continues to invest in new technologies, with analysts optimistic about its potential in electromobility. Rivian shares are currently trading at around EUR 9.55, and Deutsche Bank has adjusted its price target from USD 14 to USD 13 while maintaining a buy recommendation.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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