RIDE

The investigation is the latest problem for the Michigan-based company following unexpected resignations last month of both the company’s chairperson and CEO.

GM’s stake in Lordstown Motors was less than 5%. The sale came in the fourth quarter after an undisclosed lockup period.

Workhorse Group expects to deliver just 250 vehicles in 2022.

Lordstown Motors expects to produce and sell up to only 3,000 vehicles through next year, the company announced Monday.

Most EV start-ups that went public through SPAC deals have performed horribly in 2022 – falling by double-digits and trading at or near 52 week lows.

Shares of Rivian and other EV start-ups tumbled Monday to 52-week or record lows, as many investors seek safer investments amid a broader market sell-off.

Detroit’s automakers have brought a surprisingly conservative financial strategy to making them America’s next electric vehicles of choice.

California Governor Gavin Newsom presented a $286.4 billion budget proposal, dubbed the “California Blueprint,” for the state on Monday.

The automotive industry may never be the same after 2021, an infamous year that brought massive changes sparked by supply chain issues and the coronavirus.

Through IPOs and SPACs, electric vehicle makers attracted billions of dollars in 2021 from investors, who are banking that the companies can build at scale.

Electric truck maker Nikola has agreed to pay the Securities and Exchange Commission $125 million to settle charges that it defrauded investors.

The EV incentives under the Build Back Better plan include up to $12,500 per vehicle and are viewed as critical to spur consumer demand.

Lucid said it received a subpoena on Friday from the SEC “requesting the production of certain documents related to an investigation.”

While estimates varied widely, the survey on average found that executives expect 52% of new vehicle sales to be all-electric by 2030

Lucid CEO Peter Rawlinson, a former Tesla executive, said he expects the EV start-up will eventually be valued more like the industry leader.

The delay follows a J Capital Research equity research report in which analysts accused Faraday Future of fabricating vehicle reservation numbers

The company on Monday said it has more than 17,000 reservations for its Air sedan, up from 13,000 through the third quarter.

These are the stocks posting the largest moves in midday trading.

U.S. stock futures rose Friday, helped by premarket strength in Dow component J&J on plans to split into two companies.

These are the stocks posting the largest moves before the bell.