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EV startups are burning through cash. Can they attract more investment?
In September 2020, Hindenburg Study introduced its report on Nikola, saying it was “an intricate fraud.” The firm acknowledged a truck appearing to cruise down a desert street under its personal electrical power in a online video was not. The SEC released an inquiry. Eventually, Trevor Milton, Nikola’s founder, was convicted of fraud. Nikola settled with the SEC for $125 million. In 2021, J Cash Exploration posted a report contacting Faraday Upcoming “nothing but a bucket to obtain funds from U.S. traders and pour it into the black hole of personal debt designed by its founder.” A enterprise spokesperson explained “the substantive allegations of inaccurate disclosures” in the report “ended…
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Volkswagen announces five-year $193 billion investment plan as electrification gathers pace
Persons glimpse at the Volkswagen id excitement electric vehicle all through the push working day at the Los Angeles Car Exhibit in Los Angeles, California, November 17, 2022. Mike Blake | Reuters Volkswagen on Tuesday declared plans to devote 180 billion euros ($192.6 billion) between 2023 and 2027, with far more than two thirds concentrating on “electrification and digitalization.” The German automotive large earlier this thirty day period posted a total-calendar year 2022 running financial gain of 22.5 billion euros, up 13{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502} from the past 12 months, with battery and electric car or truck (BEV) deliveries mounting 26{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502}. similar investing news The BEV expansion was driven by a 68{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502} spike…
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The 2023 investment narrative is already diverging from 2022
This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Thursday, January 19, 2023 Today’s newsletter is by Jared Blikre, a reporter focused on the markets on Yahoo Finance. Follow him on Twitter @SPYJared. Read this and more market news on the go with the Yahoo Finance App. Despite Wednesday’s losses in the major U.S. indexes, stocks are flying out of the gate in 2023. The Nasdaq Composite (^IXIC) and S&P 500 (^GSPC) are having their best start to a year since 2019. And in enjoying these gains in the new year, stocks are…
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