Light Metal Miscellany: Chile, Tesla, China, GM

Chile’s left-wing government has nationalized its important lithium mining operations, casting doubts about the supply from the world’s second largest lithium producer behind China. Reuters reported Tuesday (Apr. 25), “Chile’s leftist President Gabriel Boric last week announced that control of the country’s vast lithium operations would over time be transferred from Albemarle and SQM (SQMA.SN) to a separate state-owned… More Light Metal Miscellany: Chile, Tesla, China, GM

Tesla dives deeper into red ink

Electric vehicle maker Tesla’s financial bloodbath continues, as the company reported a loss of $675.4 million for the 2017 fourth quarter ($4.01/share), compared to $619.4 million ($3.70/share) loss for the third quarter and a $121.3 million (78 cents/share) loss for the final quarter of 2016. Bears and short-sellers are following the bloody trail, although they… More Tesla dives deeper into red ink

More tales of Tesla woes

Tesla’s Model 3 production problems, and rumors about the company’s travail, continued this week, led by a report Thursday from CNBC, citing unidentified Tesla employees, that previously reported delays are getting worse as the electric car company continues to be unable to automate battery production. CNBC said, “Tesla’s problems with battery production at the company’s… More More tales of Tesla woes

More tears for Tesla

Anxiously awaiting the Tesla Model 3 electric vehicle for which you plunked down $1000 19 months ago to get in the queue for delivery of the more “affordable” of the company’s trendy vehicles? Don’t hold your breath. Nor should the 600,000 others who bought the Tesla promises for what appears to be a phantom vehicle.… More More tears for Tesla

Trevor Milton, E-truck Nikola Corp. founder, headed to prison?

U.S. District Judge Edgardo Ramos in Manhattan Monday (Dec. 18) sentenced Trevor Milton, founder and former CEO of e-truck company Nikola Corp. (NKLA:NASDAQ) to four years in prison for defrauding investors. Prosecutors had sought a sentence of 11-years in the slammer. He will be out on bail pending an appeal. Ramos also ordered Milton to pay… More Trevor Milton, E-truck Nikola Corp. founder, headed to prison?