In this article, we will discuss the 20 most valuable electric car companies in the world. This article will focus on recent industry trends and the major players in the industry. If you want to skip our analysis, you can proceed to the section highlighting the 5 Most Valuable Electric Car Companies in the World. […]
Franco-Italian automaker Stellantis wants to stick to the European Union's goal to effectively ban the sale of new petrol and diesel cars from 2035, CEO Carlos Tavares said in an interview with German media outlet Welt published Saturday. Tavares's comments come as politicians and people in the auto industry had argued that a possible shift to the right in the European Parliament after the elections in June could lead to a revision or withdrawal of the ban. The landmark rules, approved by EU lawmakers in February 2023, require that by 2035, carmakers must achieve a 100% cut in CO2 emissions from new cars sold, which would make it impossible to sell new fossil fuel-powered vehicles in the 27-country bloc.
As electric vehicle makers Rivian (RIVN) and Lucid (LCID) see their stocks decline on lackluster earnings and production outlooks amid slowing EV demand, which mainline automaker is best positioned to capture the attention of prospective EV buyers? Tom Narayan, RBC Capital Markets Lead Equity Analyst — Global Autos, joins Yahoo Finance Live to highlight why he believes Stellantis (STLA) — which owns Jeep, Dodge, and Chrysler — stands to gain the most from plug-in hybrid models while price pressures barrage consumer interest in EVs. "Those names that have more dedicated architectures that can only make full electrics now are facing some problems, right, because all they can do is make bets. So if the demand for those slow, it's not like they can switch and pivot and make plug-in hybrids," Narayan explains. "That's probably one of the main reasons why we like a name like Stellantis. it looked like a mistake to a lot of people a few years ago, when they chose this approach. But, now they're looking like the smartest kids in the classroom." Narayan also comments on Stellantis' pricing strategy geared toward American auto buyers. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Luke Carberry Mogan.