Tesla, which has been a constant beacon for all EV stocks, posted stronger-than-expected first-quarter earnings Monday thanks in part to surging deliveries in China.
This led to many Bitcoin believers speaking out against Tesla, and even Barstool Sports founder Dave Portnoy took to Twitter to ask if he had understood the situation correctly.
“The company said the 200,000-square-foot facility will have the equipment to design, test, and even do small-scale manufacturing of battery cells and packs.
In the meantime, the company will extend downtime at several North American factories amid the worldwide semiconductor shortage that has hampered auto production and threatened global supply chains.
The company’s shares also slipped amid reports that the carmaker is idling another North American plant as a result of the ongoing shortage in global semiconductor supplies.
In a statement, the companies said they saw the accord as a first step toward building out a nationwide network of hydrogen fuel stations.
The company said it delivered 20,060 vehicles in the first quarter, up a record 423% from a year ago.
A securities fraud class action lawsuit has been filed against Plug Power Inc.
He immediately replaces Ulrich Kranz, who co-founded the company and will be leaving his post at the end of the month.