Filed under: Government/Legal,Recalls,Buick,Chevrolet,GMC,Safety,Crossover,SUV
Continue reading GM recalls nearly 1 million vehicles for airbag defect
GM recalls nearly 1 million vehicles for airbag defect originally appeared on Autoblog on Sat, 13 May 2023 10:07:00 EDT. Please see our terms for use of feeds.
Permalink | Email this | Comments
Filed under: Government/Legal,Tesla,Safety,Emerging Technologies
Tesla Autopilot name should change because humans are still in control, Buttigieg says originally appeared on Autoblog on Sat, 13 May 2023 10:00:00 EDT. Please see our terms for use of feeds.
Permalink | Email this | Comments
CalPERS liquidated its position in XPeng in the third quarter of 2022.
The largest US public pension continued to trim its investment in Chinese electric vehicle (EV) stocks in the first quarter.
The California Public Employees' Retirement System (CalPERS) owned 2,210,446 shares of NIO's US-traded ADRs at the end of the first quarter, according to a 13F report dated May 12.
This is down 390,806 shares, or 15.02 percent, from 2,601,252 at the end of the fourth quarter of 2022.
The pension's holdings in NIO were worth $23.23 million at the end of the first quarter, down 8.4 percent from 25.36 million at the end of the fourth quarter.
CalPERS now has about $440 billion in assets under management and is the largest public pension in the US. It opened a position in NIO in the first quarter of 2019, when it bought 140,451 shares. NIO went public in the US on September 12, 2018.
CalPERS cut its position in NIO by 10.79 percent in the fourth quarter of last year. The value of the pension's holdings in NIO fell 44.85 percent during the fourth quarter due to a large drop in NIO's stock price during the period.
In the third quarter of 2022, CalPERS liquidated its position in XPeng (NYSE: XPEV) while increasing its stake in NIO by 18.20 percent. As of the end of the first quarter, it still did not own any XPeng shares.
The pension liquidated its position in Li Auto, another Chinese EV company, in the first quarter. CalPERS held 1,136,298 shares of Li Auto at the end of the fourth quarter last year.
NIO, XPeng and Li Auto all rose in the first quarter, up 7.79 percent, 9.14 percent and 22.3 percent, respectively.
Several prominent hedge funds reduced their positions in these three Chinese EV companies in the first quarter.
Bridgewater reduced its holdings in NIO by 40.53 percent, XPeng by 25.98 percent and Li Auto by 54.69 percent in the first quarter, according to Friday's Form 13F.
Renaissance cut its position in NIO by 0.16 percent, XPeng by 98.88 percent and Li Auto by 20.44 percent during the first quarter.
The post Largest US pension cuts stake in NIO, liquidates Li Auto in Q1 appeared first on CnEVPost.
For more articles, please visit CnEVPost.
By continents, Chinese vehicles are mainly exported to:
- Africa: Egypt and South Africa
- Asia: Saudi Arabia, India, Thailand, and Vietnam
- Europe: Russia and the UK
- North America: USA, Mexico, and the Caribbean
- South America: Brazil, Chile, Peru, and Ecuador
The post China became the world’s largest vehicle exporter in Q1 2023, surpassing Japan appeared first on CarNewsChina.com.
Filed under: Green,Ford,Alternative Fuels,Minivan/Van,Commercial Vehicles,Electric,Hydrogen Cars
Continue reading Ford begins testing fuel-cell E-Transit in the U.K.
Ford begins testing fuel-cell E-Transit in the U.K. originally appeared on Autoblog on Sat, 13 May 2023 09:00:00 EDT. Please see our terms for use of feeds.
Permalink | Email this | Comments