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Institutional investors and professional traders rely on The Fly to keep up-to-the-second on breaking news in the electric vehicle and clean energy space, as well as which stocks in these sectors that the best analysts on Wall Street are saying to buy and sell.
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From the hotly-debated high-flier Tesla (TSLA), Wall Street’s newest darling Rivian (RIVN), traditional-stalwarts turned EV-upstarts GM (GM) and Ford (F) to the numerous SPAC-deal makers that have come public in this red-hot space, The Fly has you covered with “Charged,” a weekly recap of the top stories and expert calls in the sector.
CHINA-MADE EV SALES: Tesla sold 58,459 China-made electric vehicles in April, down 6% from last year, Reuters’ Qiaoyi Li, Zhang Yan, and Brenda Goh report, citing data from the China Passenger Car Association. Deliveries of locally made Model 3 and Model Y vehicles were down 25.8% from the previous month, the data show.
TRADEMARK APPLICATIONS: Tesla’s effort to trademark the term “Robotaxi” in reference to its vehicles has been refused by the U.S. Patent and Trademark Office for being too generic, but its application to trademark the term “Robotaxi” for its upcoming ride-hailing service is still under examination by the office, TechCrunch’s Sean O’Kane reports. Additionally, applications from Tesla for the trademark on the term “Cybercab” have been halted due to other companies pursuing similar “Cyber” trademarks, including a company that has applied for numerous trademarks related to aftermarket Cybertruck accessories, O’Kane writes. Tesla has three months to file a response to the USPTO or the office will abandon the application, according to the report.
TESLA FSD: Piper Sandler keeps an Overweight rating on Tesla with a $400 price target after hosting an investor call with Elias Martinez, creator of the FSD Community Tracker. Tesla’s full self-driving software is the largest contributor to Piper’s price target, the firm tells investors in a research note. After the call, Piper says it seems evident that Tesla’s current version 13 of its full self-driving software cannot support truly autonomous vehicles. However, it has been 4.5 months since Tesla unveiled version 13, and since then, no major updates have been released, the firm points out. During this period, Tesla has likely been focused on ensuring a safe launch in Austin, Piper believes.
