Benzinga Before The Bell: Elon Musk Confirms Tesla AI Day Part 2, Dogecoin Scam, BioNTech Q2 Earnings Shocker And Other Top Financial Stories Monday, August 8

Monday, 8 August 2022, 14:32:46
CNBC Celsius Withdraws Motion To Rehire CFO A court filing submitted Friday in the Southern District of New York states that the bankrupt cryptocurrency lender Celsius has dropped its plea to reinstate former CFO, Rod Bolger. The withdrawal notice was published just before a Monday, August 8 hearing to review it. A week ago, the company had approached Ex-CFO Rod Bolger to come back and work with Celsius in exchange for $92,000 monthly pay, prorated over a minimum of six weeks. Reuters GM, Toyota, Other Automakers Oppose US”s EV Bill: Report A group representing General Motors Co (NYSE: GM ), Toyota Motor Corp (NYSE: TM ), Volkswagen AG (OTC: VWAGY ), and others saw the U.S. Senate”s $430 billion bill jeopardizing the country”s electric-vehicle adoption targets for 2030, Reuters reports. “Unfortunately, the EV tax credit requirements will make most vehicles immediately ineligible for the incentive,” said the Alliance for Automotive Innovation”s chief executive, John Bozzella, adding the bill “will also jeopardize our collective target of 40-50% electric vehicle sales by 2030.” The group had warned that most EV models would not qualify for a $7,500 tax credit for U.S. buyers under the bill.
— Benzinga

GM, Toyota, Other Automakers Oppose US”s EV Bill: Report

Monday, 8 August 2022, 14:10:52
A group representing General Motors Co (NYSE: GM ), Toyota Motor Corp (NYSE: TM ), Volkswagen AG (OTC: VWAGY ), and others saw the U.S. Senate”s $430 billion bill jeopardizing the country”s electric-vehicle adoption targets for 2030, Reuters reports . “Unfortunately, the EV tax credit requirements will make most vehicles immediately ineligible for the incentive,” said the Alliance for Automotive Innovation”s chief executive, John Bozzella, adding the bill “will also jeopardize our collective target of 40-50% electric vehicle sales by … Full story available on Benzinga.com
— Benzinga

Automakers say U.S. Senate bill will jeopardize 2030 EV targets

Monday, 8 August 2022, 00:23:00
WASHINGTON — A group representing General Motors, Toyota Motor, Volkswagen and other major automakers said a $430 billion bill approved Sunday by the U.S. Senate will put achieving U.S. electric-vehicle adoption targets for 2030 in jeopardy. “Unfortunately, the EV tax credit requirements will make most vehicles immediately ineligible for the incentive,” said the Alliance for […]
— Financial Post

Automakers say U.S. Senate bill will ‘jeopardize’ 2030 EV targets

Sunday, 7 August 2022, 23:15:47
WASHINGTON — A group representing General Motors, Toyota Motor, Volkswagen and other major automakers said a $430 billion bill approved Sunday by the U.S. Senate will put achieving U.S. electric-vehicle adoption targets for 2030 in jeopardy. The Alliance for Automotive Innovation had warned late Friday that most EV models would be ineligible for a $7,500 […]
— Financial Post

MSIL to produce 20 lakh units in FY23

Sunday, 7 August 2022, 09:08:29
Maruti Suzuki India chairman RC Bhargava on Sunday said the company is currently aiming to produce 20 lakh units in the ongoing fiscal (FY23) and will increase the production with improving availability of semiconductors. Bhargava, in his address to shareholders in the company”s annual report for 2021-22, informed that the upcoming mid-sized SUV Grand Vitara will play a key role in the challenge to touch 20 lakh units. In 2021-22, total sales of Maruti Suzuki India Ltd (MSIL) increased by 13.4 per cent to 16.52 lakh units. It had lost out on sales in the first quarter of the fiscal due to the pandemic and production being affected by the shortage of semiconductors, mainly for domestic models, Bhargava wrote. “The number of unmet bookings with the company at the end of the year rose to about 2.7 lakhs,” PTI quoted the chairman as saying. However, MSIL”s market share declined to 43.4 per cent from nearly 50 per cent as it lost some opportunity in the domestic market, he added. As per Society of Indian Automobile Manufacturers (SIAM) data, domestic passenger vehicle sales in the domestic market stood at 30,69,499 units in 2021-22, as compared to 27,11,457 units in 2020-21.
— Economic Times India