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XPEV

XPeng Inc. (NYSE:XPEV), a leading Chinese smart electric vehicle company, reported a significant increase in its Smart EV deliveries for March 2024 and the first quarter of the year. In March, XPENG delivered 9,026 Smart EVs, marking a 99% increase from the previous month and a 29% year-over-year increase. The XPENG X9 was the top-selling all-electric MPV in China for the month. For Q1 2024, the company delivered 21,821 Smart EVs, up 20% from the previous year. Additionally, the monthly active user penetration rate of XNGP in urban driving scenarios reached 82%.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 9:02 am

LI

Li Auto Inc. reported a 39.2% year-over-year increase in vehicle deliveries for March 2024, totaling 28,984 units. The company's Q1 deliveries also rose by 52.9% YoY to 80,400 vehicles. This growth establishes Li Auto as the first Chinese new energy automaker to surpass 700,000 cumulative deliveries, reaching 713,764 by the end of March 2024.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 8:33 am

AMZN

Amazon.com Inc. (NASDAQ:AMZN) has spent over $3 million in 2023 on consultants to discourage unionization among its delivery network employees. This spending is part of Amazon's broader efforts to resist unionization, despite facing legal challenges, including a ruling by a National Labor Relations Board judge that found the company guilty of violating federal labor laws. Amazon's spending on anti-union activities has decreased compared to the previous two years.

Portfolio Pulse from Rounak Jain

April 01, 2024 | 8:26 am

GOOG

GOOGL

MSFT

NVDA

Sir Demis Hassabis, co-founder of Google DeepMind, expressed concerns over the exaggerated hype surrounding artificial intelligence (AI), comparing it to the crypto buzz. He believes this overshadows real scientific progress in AI. Despite the hype, Hassabis remains optimistic about AI's transformative potential, citing DeepMind's AlphaFold as a significant advancement. The article also mentions the surge in funding for AI startups and the interest in major tech companies like Microsoft, Alphabet, and Nvidia, which are leading the AI revolution.

Portfolio Pulse from Benzinga Neuro

April 01, 2024 | 8:07 am

TSLA

Tesla Inc's executive Rohan Patel addressed the delay in rolling out version 12 of the Full Self-Driving (FSD) software for certain Model S and X vehicles. The delay is due to the need to validate different hardware present in about 3% of FSD-eligible vehicles. Despite the delay, Tesla's team is focused on resolving the issue, though no specific timeline was provided. The rollout of free FSD trials in the U.S. has received positive reviews, aiming to encourage purchases or subscriptions by showcasing the software's potential for fully autonomous driving.

Portfolio Pulse from Anan Ashraf

April 01, 2024 | 7:56 am

TSLA

Tesla Inc (NASDAQ:TSLA) has increased the prices of all Model Y SUV versions in the U.S. by $1,000, with the base version now starting at $44,990. This move comes ahead of its Q1 deliveries report and follows a similar price increase in China. The company's vehicle deliveries in the last quarter of 2023 were 484,507, but expectations for Q1 2023 are for a year-over-year decline from the 422,875 deliveries reported in Q1 2022. Tesla's stock ended down 2.25% at $175.79.

Portfolio Pulse from Anan Ashraf

April 01, 2024 | 7:52 am

CURV

NGS

OXM

PLSE

PVH

U.S. stock futures are trading higher, with focus on PVH Corp., Oxford Industries, Natural Gas Services Group, Torrid Holdings, and Pulse Biosciences due to earnings reports and financial results. PVH is expected to report earnings of $3.52 per share, Oxford Industries reported disappointing results and weak guidance, Natural Gas Services is anticipated to earn 6 cents per share, Torrid Holdings reported strong Q4 results, and Pulse Biosciences announced a loss and a rights offering.

Portfolio Pulse from Avi Kapoor

April 01, 2024 | 7:33 am

GM

VWAGY

SAIC Motor plans to lay off thousands of employees at its joint ventures with General Motors (GM) and Volkswagen (VWAGY), and at its Rising Auto EV brand. The layoffs aim to cut 30% of staff at SAIC-GM, 10% at SAIC-Volkswagen, and over half at Rising Auto, mainly through stricter performance standards and payouts for low-rated employees. This move comes amid intensifying competition in the Chinese EV market, dominated by BYD Co Ltd and Tesla Inc. SAIC, a Fortune Global 500 company, sold over 5 million vehicles in 2023, including 1.1 million NEVs.

Portfolio Pulse from Anan Ashraf

April 01, 2024 | 6:31 am

DOGEUSD

Crypto analysts are closely monitoring Dogecoin (DOGE), predicting a potential massive parabolic bull run, mirroring its 2018-2021 performance. Analysts Ali Martinez, Bluntz, and Altcoin Sherpa highlight DOGE's promising patterns and predict substantial price increases. The interest in DOGE futures has peaked, with open interest surpassing $2 billion. Dogecoin's integration into Elon Musk's ventures and its status as a leading memecoin contribute to its speculative appeal.

Portfolio Pulse from Mehab Qureshi

April 01, 2024 | 6:27 am

TSLA

Xiaomi's new electric sedan, the SU7, has experienced a significant delivery delay of up to seven months due to overwhelming demand, with 120,000 orders received within 36 hours of launch. The delay affects all models, including the standard and Pro versions, and the most expensive model. Xiaomi also launched a special Founder's Edition with complimentary gifts, selling out the first batch of 5,000 cars immediately. The company has a Beijing factory with a production capacity of 200,000 cars annually, manufactured by BAIC Group.

Portfolio Pulse from Benzinga Neuro

April 01, 2024 | 6:17 am