Page 12 - Tv Maker News Today

The Irvine, California-based companys shares fell nearly 8% in after-hours trading. Convertible bonds can be dilutive when converted into shares and are typically seen negatively by investors when issued. Rivians bond will mature in October 2030 and investors will have the option to convert the bonds into cash or shares in the company, it said in a filing.

LG Chem EV Battery Plant Morocco: LG Chem, known for manufacturing more expensive nickel-cobalt-manganese (NCM) cathodes, is entering the LFP cathode business for the first time to meet growing demand for cheaper LFP batteries as the auto industry steps up efforts to produce more affordable EVs, whose most expensive components are the batteries.

Nio China EU Probe: Nio, which ranks No.9 among manufacturers of electric and hybrid cars in China, is among Chinese EV makers that have been expanding to Europe amid stiffening competition in their home market, helped by the blocs strict rules on emissions and Beijings relatively benign trade ties.

Vinfast Seeks Applicants India: If VinFast enters India, the worlds third-largest car market, it will compete in a nascent but fast-growing segment currently dominated by domestic heavyweight Tata Motors . Tesla is also eyeing India, and is in talks with New Delhi about setting up a factory.

German Carmaker Stocks Fall: German carmakers, who rely on China for around a third of passenger car sales, have been muted in their reaction to the EUs announcement of a probe into whether Chinese state subsidies for EV makers are creating unfair competition in Europe.

Polestar EV: Polestar said it had delivered 15,765 vehicles during the second quarter, and reiterated its forecast of delivering between 60,000 and 70,000 cars in 2023.

Nio EV: Nios founder and chief executive, William Li, was a key driver of the phone project, which the automaker is targeting mainly at drivers of its cars. "Our phone business is not to compete with those phone makers," Li told investors in an earnings call late on Tuesday. "Instead, we would like to use the phone as a carrier to provide the best experience for our vehicle users."

An unprofitable electric vehicle manufacturer, VinFast Auto from Vietnam, has surged to become the world's third most valuable automaker.

Foxconn is considering a partnership with Sharp to develop key components for electric vehicles in India, and they express confidence in mass-producing EV batteries in Wisconsin.

China Evergrande: In a separate announcement, NEV said it has agreed to issue 6.18 billion new shares to U.S.-listed NWTN for a total consideration of HKD 3.89 billion, implying a subscription price of HKD 0.6297 per share.