#Cleantech
and #ClimateChange #Podcast - #EV #Stocks; The Growth Story Continues (NASDAQ: $MULN)
(NASDAQ: $TSLA) (NYSE: $GM) (NASDAQ: $LCID) @Mullen_USA @Tesla @GM @LucidMotors
@BMWGroup
Vancouver,
Kelowna, Delta, BC, October 27, 2022 - Investorideas.com, a global news
source and leading investor resource covering cleantech and renewable energy
stocks issues a new edition of the
Cleantech and Climate Change Podcast reviewing top news in EV stocks, featuring
Electric Vehicle Stock Mullen
Automotive, Inc. (NASDAQ: MULN).
The
growth story of the EV market continues in spite of recent concerns expressed
by Elon Musk in the Tesla (NASDAQ: TSLA)
earnings call, discussing the economy and market in China. "China is
experiencing a recession of sorts.”
On
Monday Tesla announced price cuts to the Model 3 and Model Y electric cars in
China and stocks like NIO Inc. (NYSE: NIO) fell,
but the drop was short-lived and the sector is still driving forward with
impressive global expansion.
Listen to the
Podcast:
https://www.investorideas.com/Audio/Podcasts/2022/102622-CleanTech.mp3
Read this in full at https://www.investorideas.com/news/2022/cleantech-climatechange/10271MULN-TSLA-GM-LCID.asp
Listen to the cleantech and climate change podcast on
Spotify
Mullen Automotive, Inc. (NASDAQ: MULN), an emerging
electric vehicle (“EV”) manufacturer, announced
earlier this week it has secured exclusive sales, distribution and branding
rights to the new compact urban delivery electric vehicle, the I-GO™, which is
fully EU Standard homologated and certified for sale in select European
markets.
Perfect for urban
European markets, the I-GO™ bridges the gap between the growing demand for
quick deliveries and space constraints found throughout the dense cities of
Europe.
There is high
demand for ready to market urban delivery vehicles in Europe. The Company has
seized the opportunity to extend its branding and marketing reach to the
European market through its partnership with the manufacturers of the I-GO™.
The Mullen I-GO™, intended for companies focusing on last mile deliveries, is
based on a 96-inch wheelbase, 16.5-kWh battery pack, rear-wheel drive, and a
curb weight of 1,753 lbs. With a range of 124 miles, according to NEDC
estimate, the vehicle can easily handle the stop/go and weave in/out typical of
narrow European urban streets. The I-Go was built with the intention to get to
the customer's door faster, all while decreasing pollution and congestion
levels across Europe. The I-GO™ will have a starting price of $11,999 plus VAT
and local transportation and will be retailed and serviced through local
European distributors.
The I-GO™ will join
Mullen’s current commercial vehicle lineup which includes Class 1 and 2 EV
cargo vans. Mullen recently made a majority acquisition of Bollinger Motors,
whose portfolio includes Class 3 through Class 6 commercial vehicles. In
addition to securing the exclusive sales, distribution and branding rights for
the I-GO™ for Spain, France, Germany, UK and Ireland, the Company entered into
an Asset Purchase Agreement to acquire all assets of Electric Last Mile
Solutions, Inc. and Electric Last Mile, Inc. (“ELMS”) from the ELMS Bankruptcy
Estates.
General Motors Co.
(NYSE:
GM) reported third-quarter results this week.
In the GM
Chair and CEO Mary Barra's letter to shareholders,
she reported, “We earned more than 8% of the U.S. electric vehicle market in
the third quarter thanks to record sales of the Chevrolet Bolt EV and Bolt EUV.
Our dealers and customers have embraced the Bolt because of its range,
technology and value, helping it outsell Ford’s Mach-E by more than two to one
in September.
The Chevrolet
Equinox EV and the GMC Sierra EV that we revealed in recent weeks, along with
the Chevrolet Silverado EV and Blazer EV, are cornerstones of our strategy to
rapidly grow EV volumes by winning in high-volume segments. They have all been
incredibly well received by customers and industry experts who see them driving
rapid EV adoption and conquest sales for GM, including in coastal markets.
The Chevrolet Bolt
EV and Bolt EUV will continue to play an important role too. We’re increasing
production from 44,000 units this year to 70,000 units next year, and we will
leverage our industry-leading loyalty to move these customers into one of our
new EVs for their next purchase.”
Lucid Group, Inc. (NASDAQ:
LCID),
with the longest-range, fastest-charging electric car on the market, announced
the opening of its first Studio in the Middle East, located in Riyadh, Saudi
Arabia. The luxury retail space will invite customers to experience the brand
and its products in the heart of Riyadh's Al Nakheel District. With a
direct-to-consumer model, every Lucid Studio offers a digitally oriented premium
experience tailored to each customer's preferences, whether they visit in
person, make enquiries entirely online, or combine the two.
"The launch of
our first Studio in the Middle East marks yet another step towards Lucid's
mission to inspire the adoption of sustainable energy on a global scale, and
I'm delighted this brand-new studio is set to open here in Saudi Arabia,"
said Peter Rawlinson, Lucid's CEO and CTO. "Saudi Arabia recognizes the
seismic transition toward automobile electrification and it looks to the future
to secure a better world for generations to come with Saudi Vision 2030."
Lucid's Riyadh
Studio will allow customers to fully experience the brand and gain information
about its products in a location that underscores the company's unique design
aesthetic. Exploring a Lucid Studio, visitors will get a vision of how the
company draws inspiration from the beauty, innovation, and diversity of its
home, the state of California.
In other big news
in the sector, BMW Group (BMW.DE)
recently announced
a $1.7 Billion (USD) investment to build electric vehicles in the US. Of the
total, $1 billion will be to prepare for the production of electric vehicles at
the company’s existing US manufacturing facility in South Carolina, and $700
million to build a new high-voltage battery assembly facility in nearby
Woodruff, SC. By 2030, BMW Group will build at least six fully electric models
in the US.
The new facility
will encompass over 1 million sq. ft., and produce next generation batteries
for fully electric vehicles. Around 300 new jobs will be created on site.
Thanks, that’s it
for today. Do something good for this beautiful planet each and every day.
If
you would like to be a guest on this podcast and tell your story please call me
at 800 665 0411
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