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The base model of the SUV will cost around $80,000.
The company had already announced its upcoming EV Hummer pickup, which is due in the fall.
General Motors has doubled up on its electric vehicle (EV) offering with an announcement on Saturday of its second all-electric Hummers.
GM already announced its upcoming EV Hummer pickup, which is scheduled to go on sale this fall — its first model of the American classic in 11 years.
Hummer is the latest brand to jump on the electrification bandwagon, with Volkswagen also gearing up to take on Tesla with its Mission T project.
Herbert Diess, Volkswagen's CEO, has committed to offering a fully electric vehicle for each of its stable of brands, including Audi, Bentley, and Porsche, by 2025.
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The role of Brian Chin, CEO of its investment bank, is also reportedly under scrutiny.
Credit Suisse has been involved in both the Archegos and Greensill crashes.
Leaders at Switzerland-based Credit Suisse are discussing replacing chief risk officer Lara Warner, after the bank was caught up in several high-profile incidents, leading to large potential losses, Bloomberg reported. The outlet cited people briefed on the matter.
Despite chief executive officer Thomas Gottstein's commitment to a clean slate in 2021, after a previous spying scandal at the bank, Credit Suisse has been one of the worst-performing major bank stocks in 2021.
The recent collapse of Greensill, along with chaos at Archegos, has potentially left investors facing another quarter of losses.
SwitzerlandSwissBrian-chinLara-warnerThomas-gottsteinBloombergLuckin-coffee-incCredit-suisseSwitzerland-based-credit-suisseSoftbank-backed-greensillBill-hwangWall-streetBarstool Sports' Dave Portnoy has joined BUZZ and VanEck in launching a social media sentiment ETF.
Sentiment shown in social media and retail trader discussions could be a key to alpha - BUZZ CEO.
These are the three strategies BUZZ is using to tap into chatter on social media.
Since the start of 2021, markets have faced a new reality - the power of the retail trader.
Whether they are forcing hedge funds to back out of bets against unpopular stocks, sending shares in tiny companies up by 1,000%, or taking Bitcoin 'to the moon', these social-media-centered traders can move markets. January's almost unprecedented volatility was testament to that.
Dave-portnoyYoutubeTwitterGamestopBarstool-sport-dave-portnoyJamie-wiseNew-york-basedInvestingBi-primeEtfBuzzStock-market-strategySolar power is set to boom as costs decline and battery tech makes it more accessible.
Tesla's North American Solar Projects could be worth $250 billion annually in the longer term, the bank said.
Goldman estimate installations will be 60% above Biden's policy aim for 500 million panels in the next 5 years.
The energy transition trade is heating up, and investors are looking tap into those companies and technologies that will power the homes and cities of the future.
Across the board, this has meant significant gains for companies that are focussed on sustainability. For example, shares in Danish wind power provider Orsted have rallied around 300% in the last five years, and Chinese Tesla rival NIO gained over 960% in the last 12 months alone.
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XLFleet is being sold on a "blue-sky" story, with exponential growth in sales estimates, Block said, justified by a $1.4 billion sales estimate in 2024 that he called "a joke."
In talking to former employees, the hedge fund has found this estimate has been created using an order backlog worth $200 million, he said.
"That backlog is greatly misrepresented. I mean maybe even to the point where you call it an outright lie," he said, adding: "We can extrapolate that this $1.4 billion is just farcical."
He said: "What we learned from talking with three former salespeople is that they keep track of leads in Salesforce. If they have an initial call, they're told by their sales managers to put in an exaggerated probability of that closing, along with a really optimistic — to the point of being ludicrous — number of potential units."
New-yorkUnited-statesCarson-blockChamath-palihapitiyaMuddy-waters-research-on-twitterMuddy-waters-researchPivotal-investment-corporationWaters-researchSocial-capitalShortShort-sellerXl-fleetSeveral high profile SPACs have already been announced in Amsterdam.
Citi says it has mandates for several more to be listed in Europe.
These are the top three sectors that sponsors are like to tap for merger partners.
Special Purpose Acquisition Companies, or SPACs, are all the rage right now in the investing community, as celebrities and finance veterans alike jump in.
These "blank check companies" are listed on the stock market and are formed solely to acquire an existing private company to take it public, without the risks and cost inherent in an initial public offering.
For some, this is more evidence of market exuberance caused by excess
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