As electric vehicles and autonomous driving software proliferate, automakers are trying hard to convince investors they are more than just car companies. That, of course, requires selling services as well as vehicles.
AC chargers aren’t the fastest chargers, but commercial customers don’t typically rely on more expensive direct-current, or DC, fast chargers. They can recharge delivery and utility vehicles overnight. Tesla recently opened up investors’ eyes to the opportunity EV charging represents when it signed agreements with Ford and other automakers to allow non-Tesla EVs to charge at Tesla supercharging locations. Tesla operates the U.S.’s largest network of DC fast-charging stations.
For now, Ford is being treated like an automaker stock. Coming into Tuesday trading, shares were down about 23% over the past 12 months, while the S&P 500 had gained about 10% over the same span. Investors are worried about the impact of high interest rates on car demand and the impact of falling prices on profit margins.
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EV maker BYD buys Jabil's China manufacturing business for $2.2 billionElectric vehicle maker BYD Co Ltd said on Monday its unit struck a deal with U.S.-based manufacturing firm Jabil Inc's Singaporean unit to buy its product manufacturing business in China for 15.8 billion yuan ($2.17 billion).
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EV maker BYD buys US firm Jabil's China manufacturing business for $2.2 billion By ReutersEV maker BYD buys US firm Jabil's China manufacturing business for $2.2 billion
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Twinkies maker Hostess Brands exploring sale amid interest from major companies: reportHostess stock rose sharply amid reports several food companies interested in buying Twinkies maker.
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