Streetbeat News

POAHF

Porsche Automobil Holding SE

https://www.porsche-se.com/

Industry

Automobile Manufacturing

Open

42.88

Mkt cap

13B

Volume

101

High

42.88

P/E Ratio

3.03

52-wk high

57.10

Low

41.00

Div yield

0.07

52-wk low

34.90

Porsche is recalling 17,278 Taycan EVs in China due to brake issues, marking the second recall in a year. The recall, starting on August 31, 2024, addresses potential cracks in front brake hoses that could lead to brake fluid leakage and increased crash risk. Porsche will replace the affected parts free of charge.

Portfolio Pulse from Nabaparna Bhattacharya

July 05, 2024 | 3:30 pm

Lucid Group, Inc. (NASDAQ:LCID) has appointed Nick Twork, a veteran from Ford and General Motors, as Head of Global Communications. Twork will oversee various communication aspects and report directly to CEO Peter Rawlinson. This appointment comes as Lucid prepares for the production of its first SUV, Lucid Gravity, with a new automated line featuring 247 robots. The Gravity SUV, priced close to Tesla's Model X, is set to start pre-production this summer.

Portfolio Pulse from Nabaparna Bhattacharya

June 25, 2024 | 4:00 pm

Volkswagen's Audi is partnering with SAIC to develop a new EV platform in China, aiming to accelerate its BEV portfolio and reduce time-to-market. This collaboration follows Volkswagen's $700 million investment in Xpeng and highlights the increasing reliance on Chinese technological expertise. Stellantis also announced a partnership with Leapmotor to bring models to Europe.

Portfolio Pulse from Shivani Kumaresan

May 20, 2024 | 10:42 am

Rivian Automotive Inc (NASDAQ:RIVN) surpassed Tesla Inc (NASDAQ:TSLA), BMW (OTC:BMWYY), and Porsche (OTC:POAHF) in a Consumer Reports survey on customer satisfaction. Rivian ranked first with 86% of owners willing to repurchase, while Tesla fell to fifth with 74%. Rivian's high scores in driving dynamics, comfort, and ownership costs contributed to its top ranking. The company is also developing the R2 platform, a more affordable electric vehicle, with production starting in 2026.

Portfolio Pulse from Anan Ashraf

February 03, 2024 | 4:53 am

Xiaomi Corp. has unveiled its first electric vehicle, the SU7, aiming to compete with Tesla and Porsche in the EV market. The SU7, developed with batteries from CATL and BYD, represents a $10 billion opportunity for Xiaomi. The company is partnering with Beijing Automotive Group Co. and is working on obtaining a sales license in China, with sales expected to start next year. Xiaomi's CEO Lei Jun is committed to winning in the EV space, with significant investment in R&D.

Portfolio Pulse from Benzinga Neuro

December 28, 2023 | 9:04 am

Major automakers, including General Motors (GM), Toyota (TM), Volkswagen (VWAGY), Ford (F), Mercedes-Benz (MBGYY), BMW (BMWYY), Hyundai (HYMTF), and Kia, along with air bag manufacturers, are opposing the NHTSA's recommendation to recall 52 million air bag inflators over rupture concerns. The recall, if enforced, would be the second-largest in U.S. automotive history. Automakers argue the risks are minimal, with ARC estimating less than one rupture in the next 33 years. GM and Stellantis (STLA) have called NHTSA's actions arbitrary and contrary to law. GM shares dropped slightly in premarket trading.

Portfolio Pulse from Shivani Kumaresan

December 20, 2023 | 12:23 pm

Porsche AG and Google have announced plans to deepen their partnership, aiming to integrate Google's digital services more extensively into future Porsche vehicles. The collaboration will focus on enabling Google services for navigation, speech recognition, and access to its app ecosystem in upcoming Porsche models. The production phase for these enhanced vehicles is set to begin midway through this decade.

Portfolio Pulse from Benzinga Neuro

October 31, 2023 | 8:37 am

Audi AG, a subsidiary of Volkswagen AG (OTC:VWAGY), is reportedly in discussions with Chinese state-owned automaker SAIC Motor Corp to acquire an electric vehicle (EV) platform. This move comes as Audi seeks to improve its sales performance in China and capture a larger share of the world's largest auto market. Currently, Audi uses Volkswagen's EV-dedicated MEB platform for models offered in China.

Portfolio Pulse from Shivani Kumaresan

July 12, 2023 | 3:36 pm

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