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Biden authorizes release of more than 180M barrels of oil from Strategic Petroleum Reserve; 1M bpd for 6 months

Green Car Congress

The Biden Administration had earlier in March authorized a drawdown of 30 million barrels in coordination with the IEA in response to Russia’s invasion of Ukraine. Biden said that his administration would restock the reserve when prices are lower. 2005 Hurricane Katrina Sale. Background. President George H. President George W.

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Tesla stops sale of bonds backed by vehicle leases as market maintains unpredictability

Teslarati

Inflation, which CEO Elon Musk hinted would increase vehicle prices, along with the uncertainty of Russia’s war with Ukraine , has sent short-term interest rates through the rough in the past several weeks. Tesla is the third issuer to halt a sale amid the market’s unpredictable nature in the past week.

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Tesla’s production expansion, surging oil prices bring stock upgrade from Daiwa Securities

Teslarati

Tesla’s ( NASDAQ: TSLA ) plans to expand its production capacity, along with other factors like surging oil prices that could sway consumers to electric vehicles, have contributed to Daiwa Securities analysts upgrading their outlook on the automaker’s stock. At the time of writing, Tesla shares were trading at $801.83, up just 0.13

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Tesla’s uphill battle as it seeks to double Germany sales

Teslarati

Tesla aims to increase its vehicle sales in Germany by 100% in 2022. However, the EV manufacturer faces an uphill battle as Germany’s electricity prices continue to rise. Our goal is to double sales every year, so we would be at around 80,000 units in 2022,” a Tesla site manager reportedly told Automobilwoche. .

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Rivian reaffirms ~25K production goal for 2022, reports solid demand despite price increase

Teslarati

“Additionally, we recorded a lower cost [sic] or net realizable value (“LCNRV”) adjustment to reflect the amount we anticipate receiving upon vehicle sale (after considering future costs necessary to ready the inventory for sale) and losses on firm purchase commitments. Rivian links supply chain woes to ongoing Ukraine-Russian war.

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Lucid Air price increases due to rising raw material costs & supply chain challenges

Teslarati

Lucid Motors announced a price increase for its Lucid Air product line after releasing its Q1 2022 financial results. In an 8-K SEC filing , Lucid shared a statement from CEO and CTA Peter Rawilson about the Air’s price increase. As the Lucid CEO confirmed, the Air’s new pricing will go into effect on June 1, 2022.

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French tyre maker Michelin confirms 2023 guidance after Q1 sales rise – ET Auto

Baua Electric

mainly due to a reduction in inventory and the termination of Michelin’s operations in Russia following the invasion of Ukraine. rise in consolidated sales to 6.96 The automotive business, which manufactures passenger car tyres and makes up the bulk of the group’s revenue, saw its sales increase 6.2% billion euros.

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