Lacey@GCS, Author at BillionDollarClub

MondayMar 11, 2024 9:00 am

Nikola Names Ex-GM Executive as New CFO

Nikola Corporation (NASDAQ: NKLA) is a company involved in the manufacture of heavy-duty commercial battery-electric vehicles, fuel-cell electric vehicles and energy solutions. The company recently appointed Thomas Okray as its new chief financial officer. This position had been temporarily filled by the Nikola CEO and president Steve Girsky after then-CFO Anastasiya Pasterick resigned in December 2023. Pasterick moved on to Universal Hydrogen, which is focused on offering hydrogen-powered, electric-fuel-cell powertrains for commercial aircrafts. Okray has extensive experience in the automotive industry, having served as CFO for three other companies in the same industry, the first being Advance Auto Parts, where…

FridayMar 08, 2024 9:00 am

Tesla Could Earn Billions Annually by Opening Charging Network to Other EVs

As of last week, owners of the F-150 and Mustang Mach-E could power up their electric vehicles using Tesla Inc. (NASDAQ: TSLA) superchargers. Jim Farley, Ford CEO, stated in a recent LinkedIn post that the charging partnership would improve the electric car ownership experience for Ford drivers, revealing that he had tested the superchargers out himself and they worked great. Eligible owners of the aforementioned vehicles can reserve a complimentary fast charging adapter by going to FastChargingAdapter. The Tesla-Ford partnership involves the addition of Tesla’s fast-charging adapters to the Ford BlueOval Charge Network. Last June, Tesla entered a similar arrangement…

WednesdayMar 06, 2024 9:00 am

QuantumScape Ends Week on High, Outperforming Broader Market

Solid state lithium metal battery company QuantumScape Corporation (NYSE: QS) recently closed the week on a high of $6.27 per share and 0.64% higher than the previous trading session. QuantumScape shares went up by 0.52% on the S&P 500, 0.9% on the Nasdaq, and 0.12% on the Dow. The recent gains come after QuantumScape shares went down by 8.52% over the past month amid a 12.6% gain in the auto-tires-trucks sector and a 3.85% gain on the S&P 500. As one of the top solid-state battery manufacturers on the globe, QuantumScape has the potential for significant growth. Current lithium-ion electric…

WednesdayMar 06, 2024 9:00 am

D-Wave Quantum Inc. (NYSE: QBTS) and NEC Australia Introduce Quantum Services to Australian Market

D-Wave and NEC Australia announced two new quantum offerings for Australia's commercial sector, federal and state governments, and academia The companies’ new quantum services aim to optimize business operations and can navigate increasingly large datasets to find solutions to real-world problems New offerings include a quantum consultancy service and access to D-Wave’s Leap(TM) real-time quantum cloud service D-Wave Quantum (NYSE: QBTS), a leader in quantum computing systems, software, and services, and NEC Australia recently announced the introduction of two new quantum services to the Australian market, enhancing the quantum computing offerings available to Australia's commercial sector, federal and state governments,…

MondayMar 04, 2024 9:00 am

Nikola Sets Ambitious Delivery Target for Hydrogen-Powered Trucks

Nikola Corporation (NASDAQ: NKLA) has announced a target to deliver up to 350 hydrogen-fuel cell electric trucks this year. The Phoenix, Arizona-based alternative energy carmaker is setting its ambitions on delivering more than 350 hydrogen-powered fuel cell trucks to customers by the end of this quarter after cost controls. A recent statement from the company revealed that it was close to returning the battery electric trucks it recalled from customers last August because of fire risks. Fleets can expect to receive their trucks by the end of quarter two of this year or early into the third quarter, Nikola said.…

FridayMar 01, 2024 9:00 am

Riot Platforms’ Annual Report Sheds Light on Possible Risks of Bitcoin Halving

Bitcoin mining giant Riot Platforms (NASDAQ: RIOT) recently published a report outlining the potential risks of being exposed to cryptocurrency companies plagued with instability. With several cryptocurrency platforms collapsing in recent years, distrust in the nascent crypto sector is at an all-time high. According to Riot’s latest annual report, several risks have the potential to impact the company and disrupt its Bitcoin mining operations. These include a potential reduction in on-chain transition fees, problems in the wider cryptocurrency economy and an anticipated Bitcoin halving event in April. According to Riot, the halving event is particularly risky because it can potentially…

WednesdayFeb 28, 2024 9:00 am

Could NIO Inc. Currently Be Undervalued and Is It a Good Buy?

NIO Inc. (NYSE: NIO) is an automobile manufacturer that specializes in the design and development of electric cars. The multinational company, which is based in Shanghai, is also focused on the development of battery-swapping stations for its cars. Over the last couple of months, the company’s shares have recorded a 14% growth in price on the NYSE market. Despite the jump in price, however, NIO still has a lot of work to do before it can hit any highs again. The company’s market capitalization currently stands at $11.2 billion. One would assume that given its large market capitalization, any changes…

MondayFeb 26, 2024 9:00 am

Musk Says Producing Affordable EVs Could Require Workers to Spend Nights at Giga Texas

Tesla Inc. (NASDAQ: TSLA) CEO Elon Musk has revealed that producing affordable electric vehicles would require an intense manufacturing process that could lead to Tesla employees “sleeping on the line.” During Tesla’s most recent earnings call, Musk warned Tesla employees that manufacturing affordable EVs would force the Texas-based automaker to make a sharp move from its conventional production methods. According to Musk, Tesla engineers and workers would have to spend nights at Giga Texas to meet the company’s production goals. Tesla employees have slept on facility floors in the past as the company strove to meet extremely tight production deadlines…

FridayFeb 23, 2024 9:00 am

Rolls-Royce Considers Quantum Computing to Boost Nuclear Safety

Rolls-Royce is thinking of using quantum computing to operate nuclear plants remotely and improve nuclear energy safety. The manufacturer is looking to develop small, autonomous nuclear reactors via the Quantum Technology Access Programme (QTAP). These reactors could potentially function in remote mining colonies on Earth, the moon, and even Mars safely and remotely. Rolls-Royce used data from the 2011 Fukushima nuclear accident to determine if it could feasibly use a quantum machine-learning model to swiftly identify potentially deadly situations. The quantum computing-based learning model would allow operators to shut down as soon as potential issues arise with little to zero…

WednesdayFeb 21, 2024 9:00 am

Tesla Confirms It Won’t Be Refreshing the Model Y This Year

In an internal email to employees, Tesla Inc. (NASDAQ: TSLA) has confirmed that no Model Y refresh will be coming this year. Model Y has up to 310 miles of range on a single charge with dual motor all-wheel drive that allows drivers to manoeuvre through different road conditions. The vehicle also has two trunks, fold-flat seats and 3,500 pounds of towing capability. It can seat up to seven and has more than enough storage paired with advanced active safety features. Additionally, the vehicle allows for remote locking, key sharing and vehicle monitoring, all of which can be done through…

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Author: Lacey@GCS