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Tesla shares declined 5.5% on Tuesday after the company said Monday it reached its goal to produce 5,000 Model 3 cars during the last week of the June quarter, as the tide among several Wall Street firms drifts toward skepticism about the company.
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Fuel payment provider FleetCor Technologies has joined the S&P 500 Index as one of 500 leading U.S. companies that combine to capture about 80% of the market capitalization. FleetCor shares trade on the NYSE under the ticker FLT.
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The General Motors autonomous driving unit, GM Cruise Holdings, will receive $3.35 billion in new capital investment to further accelerate its research toward producing a market-ready fully autonomous vehicle, the company has announced.
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Toronto-based Element Fleet Management increased gross revenue from its fleet business by 10.5% to $1.47 billion Canadian ($1.14 billion in U.S. dollars) in the first quarter and grew revenue 2.8% to $1.43 billion ($1.11 billion) from the fourth quarter of 2017, the fleet management company has reported.
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Element Fleet Management Corp. reiterated its "strong financial position" including $4.7 billion of liquidity to finance future business in its most recent earnings report released in March.
Read More →FleetUp has raised $20 million in funding led by HUMAX, which has appointed as chief executive officer its corporate chief strategy officer and president of HUMAX Americas & China, Albert Son, the company announced.
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Workhorse Group announced its intention to spin off its aviation division, which includes its SureFly personal helicopter, into a separate publicly traded company named SureFly Inc. – but it will hold on to the HorseFly drone designed for parcel deliveries.
Read More →LeasePlan is considering taking the company public after profits for the fleet management company in the first half of 2017 rose by approximately 18%.
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Tesla Inc. has surpassed General Motors in market capitalization to become the most valuable publicly traded automaker as investor enthusiasm continues to ramp up for the company.
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Tesla Inc. increased its vehicle deliveries 69% to just over 25,000 vehicles in the first quarter, a move that sent investors to drive Tesla shares sharply higher this week.
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