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In addition to being one of the world's leading premium light-vehicle manufacturers, BMW Group produces BMW motorcycles and provides financial services. Premium light-vehicle brands include BMW, Mini, and ultraluxury brand Rolls-Royce. Operations include 31 production facilities in 15 countries, research and development facilities in 17 countries, and a sales network reaching over 140 countries. In 2023, worldwide sales volume was over 2.5 million automobiles and over 209,000 motorcycles.

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A charging infrastructure company is going public in a SPAC merger announced Wednesday morning.

Electric Vehicle Charging Company Wallbox Gets SPAC Deal: What Investors Should Know

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For the first time, Mazda Motor Corp (OTC: MZDAF) topped Consumer Reports’ annual ranking of automaker brands, while Tesla (NASDAQ: TSLA) wound up in 16th place.

Mazda Tops Consumer Report&#39;s Auto Brand Rankings, Tesla Tumbles Down List

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Tesla Inc&#39;s (NASDAQ: TSLA) European ambitions just got a shot in the arm, as the electric vehicle giant was included among companies eligible for receiving state aid.

Tesla to Share In $3.5B European Union Battery Aid: Report

BAYERISCHE MOTORENWRK ORD by Bayerische Motoren Werke AG

Bayerische Motoren Werke AG

A charging infrastructure company is going public in a SPAC merger announced Wednesday morning.
The SPAC Deal: Wallbox will<a href="https://www.prnewswire.com/news-releases/smart-charging-and-energy-solutions-provider-wallbox-to-list-on-nyse-through-merger-with-kensington-capital-acquisition-corp-ii-301308860.html"> go public</a> via SPAC merger with Kensington Capital Acquisition Corp II (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kcac#NYSE">KCAC</a>). The deal values the company at a pro forma enterprise value of $1.5 billion.
Kensington Capital was the same SPAC group that took Quantumscape Corp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/qs#NYSE">QS</a>) public in a SPAC merger.
The company will trade on the New York Stock Exchange with ticker WBX after&nbsp;the merger and current KCAC public shareholders <a href="https://blog.wallbox.com/wp-content/uploads/pdf/Wallbox_Investor_Presentation_June_2021.pdf">will own</a> 12.9% of the company.&nbsp;
About Wallbox:&nbsp; Established in&nbsp;2015, Wallbox creates smart charging and energy management solutions. The company designs, manufactures and distributes electric vehicle charging solutions for the residential, public and semi-public sectors.
Wallbox, which was founded in Spain,&nbsp;has operations in three continents and sells its products in 67 countries.
Products from Wallbox include Level 2 AC chargers and DC fast chargers. Quasar from Wallbox is the world&rsquo;s first bidirectional DC charger for the home, which can help charge an electric vehicle and use the energy to power a home or business and send it back to the grid.
The company&rsquo;s proprietary myWallbox offers residential and business software used for real-time charger management, fleet management and energy management.
Wallbox has sold more than&nbsp;100,000 chargers since 2015.
The company is led by co-founder and CEO Enric Asuncion, who served as a program manager for charging installations at Tesla Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) from 2014 to 2015, according to his <a href="https://www.linkedin.com/in/enric-asuncion/?originalSubdomain=es">LinkedIn profile</a>.
Clients for Wallbox include&nbsp;Bayerische Motoren Werke AG (OTC: <a class="ticker" href="https://www.benzinga.com/stock/bamxf#OTC">BAMXF</a>), also known as BMW, Ford Motor Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/f#NYSE">F</a>), Nissan Motor Co Ltd (OTC: <a class="ticker" href="https://www.benzinga.com/stock/nsany#OTC">NSANY</a>), Jaguar, which is owned by Tata Motors Limited ADR (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ttm#NYSE">TTM</a>), and Hyundai Motor Company GDR (OTC: <a class="ticker" href="https://www.benzinga.com/stock/hymtf#OTC">HYMTF</a>).
Related Link: <a href="https://www.benzinga.com/news/20/09/17370582/bill-gates-and-volkswagen-backed-ev-battery-maker-quantumscape-going-public-via-spac">Bill Gates And Volkswagen Backed EV Battery Maker QuantumScape Going Public Via SPAC</a>
Growth Ahead: Wallbox has manufacturing operations in Spain and China and said it plans to add one in the&nbsp;U.S. in 2022. The company has an in-house production capacity today for 500,000 units.
Electric vehicles are expected to hit an addressable market of $102 billion by 2030, according to the company&rsquo;s presentation.
The company also said in its presentation 70% of electric vehicle charges take place at home or at work, two key markets for Wallbox.
Wallbox is seeking to be the provider of an all-in-one renewable energy solution&nbsp;with the company&rsquo;s charging at the core. Solutions include trading energy storage to the grid, automatic charging based on price and peer-to-peer energy transfers.
Financials: Wallbox had revenue of $24 million in fiscal 2020.
The company forecasts revenue of $79 million in fiscal 2021. Guidance for revenue goes out to fiscal 2027 with a projection of $2.1 billion.
Wallbox said it has a strong pipeline of orders from existing clients to help with the revenue forecasts.
The company&rsquo;s projected compound annual growth rate of 96.1% for fiscal 2021 to fiscal 2025 is ahead of rivals Blink Charging Co (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/blnk#NASDAQ">BLNK</a>) at 84.2% and ChargePoint Holdings Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/chpt#NYSE">CHPT</a>) at 63.2%.
Gross margins are expected to be 45.5% for Wallbox by fiscal 2025, ahead of its rivals.
KCAC Price Action: Shares of Kensington Capital Acquisition Corp II are down&nbsp;2.45% to $9,95 on Wednesday morning at publication.
Disclosure: Author is long shares CHPT.
Related Link: <a href="https://youtu.be/NUd1qxWjAGY">Don&#39;t forget to watch Benzinga&#39;s YouTube show, &quot;SPACs Attack,&quot; co-hosted by Mitch Hoch and Chris Katje.</a>
(Photo: Wallbox)

For the first time, Mazda Motor Corp (OTC: <a class="ticker" href="https://www.benzinga.com/stock/mzdaf#PINK">MZDAF</a>) topped Consumer Reports&rsquo; annual ranking of automaker brands, while Tesla (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) wound up in 16th place.
What Happened: The magazine stated&nbsp;its ratings were&nbsp;based on a number-crunch of &ldquo;predicted reliability, and owner satisfaction based on member surveys, and CR&rsquo;s hands-on analysis.&rdquo; Safety features and crash test scores were also factored into the judging.
The newly released 2021 Brand Report Card raised Mazda&rsquo;s ranking three spots from last year&rsquo;s list. Jake Fisher, senior director of automotive testing for Consumer Reports, praised the Japanese automaker for &ldquo;putting out very desirable vehicles that drive very well.&rdquo;
Bayerische Moteren Werke AG (OTC: <a class="ticker" href="https://www.benzinga.com/stock/bamxf#OTC">BAMXF</a>), better known as BMW,&nbsp;Subaru Corp (OTC: <a class="ticker" href="https://www.benzinga.com/stock/fujhf#OTC">FUJHF</a>),&nbsp;Porsche Automobile Holding&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/poahy#PINK">POAHY</a>) and Honda Motor Co Ltd&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hmc#NYSE">HMC</a>) took the remaining spots in this year&rsquo;s top-five rankings.
Among the list&rsquo;s bottom dwellers were&nbsp;Alfa Romeo, owned by&nbsp;Stellantis NV&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/stla#NYSE">STLA</a>);&nbsp;with Land Rover, owned by Tata Motors Limited ADR&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ttm#NYSE">TTM</a>);&nbsp;Mitsubishi Corp (OTC: <a class="ticker" href="https://www.benzinga.com/stock/msbhf#PINK">MSBHF</a>);&nbsp;Jeep, also a Stellantis brand,&nbsp;and Lincoln, owned by Ford Motor Company&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/f#NYSE">F</a>).
New On The List: For only the second time since Consumer Reports began publishing its list, two brands cracked the top 10: Chrysler, owned by Stellantis, in eighth place, and Buick, owned by General Motors Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gm#NYSE">GM</a>) in ninth place. Both brands moved up five spots from the 2020 rankings.
Last year&rsquo;s top-ranked U.S. brand, Tesla, fell five spots this year to a 16th place ranking, with Consumer Reports explaining Elon Musk&rsquo;s company was &ldquo;dragged down by reliability issues with the Model S, Model Y, and Model X.&rdquo; However, the Tesla Model 3 scored a &ldquo;Recommended&rdquo; label from Consumer Reports.
(Photo courtesy Mazda Motor Corp.)

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Mazda Tops Consumer Report's Auto Brand Rankings, Tesla Tumbles Down List

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<a href="https://www.cnbc.com/2021/01/28/bmw-cuts-prices-for-its-china-made-electric-suv-by-10000.html?utm_term=Autofeed&amp;utm_medium=Social&amp;utm_content=Main&amp;utm_source=Twitter#Echobox=1611824417" title="https://www.cnbc.com/2021/01/28/bmw-cuts-prices-for-its-china-made-electric-suv-by-10000.html?utm_term=Autofeed&amp;utm_medium=Social&amp;utm_content=Main&amp;utm_source=Twitter#Echobox=1611824417">https://www.cnbc.com/2021/01/28/bmw-cuts-prices-for-its-china-made-electric-suv-by-10000.html?utm_term=Autofeed&amp;utm_medium=Social&amp;utm_content=Main&amp;utm_source=Twitter#Echobox=1611824417</a>

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BMW Cuts prices for its China-made Electric SUV by $10,000

Tesla Inc&#39;s (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) European ambitions just got a shot in the arm, as the electric vehicle&nbsp;giant was included among companies eligible for receiving state aid.
What Happened: In line with Europe&#39;s quest to increase the share of green energy vehicles, the European Commission has earmarked 2.9 billion euros ($3.5 billion) of government funding for battery projects in the region, <a href="https://www.bloomberg.com/news/articles/2021-01-26/tesla-bmw-approved-for-slice-of-3-5-billion-battery-aid-by-eu">Bloomberg reported</a>.
This funding will be disbursed to about 42 companies, including Tesla, Bayerische Motoren Werke AG (OTC: <a class="ticker" href="https://www.benzinga.com/stock/bamxf#OTC">BAMXF</a>) and Stellantis NV (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/stla#NYSE">STLA</a>), the report said.
Related Link: <a href="https://www.benzinga.com/tech/20/12/18833914/tesla-to-source-nickel-heavy-ncma-batteries-from-lg-chem-starting-in-2021-report"> Tesla To Source Nickel-Heavy NCMA Batteries From LG Chem Starting In 2021: Report </a>
The government funding, according to the report, will trigger more than three times financing from private parties, taking the total funding available to more than $11 billion.
Why It&#39;s Important: Tesla is constructing its Giga 4 in Berlin, which houses a dedicated facility to manufacture its <a href="https://www.benzinga.com/tech/20/10/17821784/elon-musk-confirms-gigafactory-berlin-will-use-new-4680-cells-single-piece-casting-new-paint-system"> self-developed 4680 battery.</a>
The EU financing should come in handy for meeting the capital needs of the project, and in turn reduce its reliance on outside suppliers.
At last check, Tesla shares were gaining 0.91% to $888.78.&nbsp;
Related Link: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/20/12/18732204/tesla-analyst-breaks-down-market-implications-of-ev-makers-inclusion-in-s-p-500-ind"> Tesla Analyst Breaks Down Market Implications Of EV Maker&#39;s Inclusion In S&amp;P 500 Index </a>
Photo courtesy of Tesla.&nbsp;

Tesla To Share In $3.5B European Union Battery Aid: Report

Uber Technologies Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/uber#NYSE">UBER</a>) is reportedly considering strategic maneuvers to expand its market share in Europe.
The San Francisco-based company is in discussions to purchase German ride-sharing app&nbsp;Free Now, according to <a href="https://www.bloomberg.com/news/articles/2020-09-28/uber-said-to-weigh-purchase-of-bmw-daimler-ride-hailing-venture?sref=TBDibEcD">Bloomberg</a>.
Formerly known as MyTaxi, Free Now is a product of Your Now, a joint venture between BMW Group (OTC: <a class="ticker" href="https://www.benzinga.com/stock/bamxf#OTC">BAMXF</a>) and Daimler AG (OTC: <a class="ticker" href="https://www.benzinga.com/stock/ddaif#OTC">DDAIF</a>). The Your Now franchise comprises of urban mobility services like ride-hailing, car-sharing, car park facilities, charging infrastructure, and in-city traveling and route planning.
What Happened: Even though Uber has expressed interest in Free Now,&nbsp;there is no certainty that a transaction would follow, according to Bloomberg.
If the talks do proceed, Uber would be able to expand its outreach to other European markets as Free Now has integrated local ride-sharing apps in France, Greece, and Romania.
The valuation of Daimler&rsquo;s equity stake in the Your Now venture was close to $720 million in June, Bloomberg noted.
Why Does It Matter: Uber has long shown interest in having at least minority stakes in ride-hailing competitors across the globe, including&nbsp;China, Southeast Asia, Russia, and the Middle East.&nbsp;
Uber held 15.4% in&nbsp;Chinese mobile transportation company &ndash; Didi Chuxing, as of last year &mdash; acquired after it&nbsp;scaled back its own operations.
In 2018, Uber negotiated a 27.5% stake in Southeast Asian ride-sharing startup Grab, after it similarly pulled back its operations in the region.
In March last year, it signed a purchase agreement with the Middle East rival <a href="https://www.benzinga.com/news/19/03/13423625/uber-buys-middle-east-rival-careem-for-3-1-billion">Careem</a> for $3.1 billion.
In June, <a href="https://www.bloomberg.com/news/articles/2020-06-11/yandex-is-said-to-consider-buying-out-uber-from-russian-venture">Bloomberg</a>&nbsp;reported that the Russian tech company Yandex could be planning to buy out Uber&rsquo;s stake in their ride-sharing venture Yandex.Taxi.
Price Action: Uber stock closed 3.19% higher at $35.56.
Photo courtesy: Dan Gold on Unsplash

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Uber Interested In Acquiring BMW, Daimler's Europe Ride-Hailing App: Bloomberg

Pre-open movers
U.S. stock futures traded slightly lower in early pre-market trade, after posting modest gains in the previous session on hopes of a fresh round of stimulus. Investors are awaiting earnings from Fluor Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/flr#NYSE">FLR</a>). Data on durable goods orders for August will be released at 8:30 a.m. ET. Durable goods orders are projected to rise 1.5% in August following an 11.4% surge in July. Federal Reserve Bank of New York President John Williams is set to speak at 9:00 a.m. ET.
Futures for the Dow Jones Industrial Average declined 69 points to 26,646 while the Standard &amp; Poor&rsquo;s 500 index futures traded fell 8.25 points to 3,229.75. Futures for the Nasdaq 100 index declined 37 points to 10,854.75.
The U.S. has the highest number of COVID-19 cases and deaths in the world, with total infections in the country exceeding 6,978,870 with around 202,810 deaths. India reported a total of at least 5,818,570 confirmed cases, while Brazil confirmed over 4,657,700 cases.
<a href="https://www.benzinga.com/investing/global-oil-storage-trends/">Oil prices </a>traded higher as Brent crude futures rose 0.3% to trade at $42.58 per barrel, while US WTI crude futures rose 0.3% to trade at $40.42 a barrel. The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.
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A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 0.2% and STOXX Europe 600 Index dropping 0.4%. The French CAC 40 Index slipped 1%, while German DAX 30 dropped 0.9% and London&rsquo;s FTSE 100 fell 0.1%. Consumer sentiment in the U.K. rose slightly to minus 25 in September, versus minus 27 in August.
Asian markets traded mixed following a modest recovery rally on the Wall Street on hopes of a fresh round of stimulus. Japan&rsquo;s Nikkei 225 gained 0.51%, Hong Kong&rsquo;s Hang Seng Index declined 0.32% China&rsquo;s Shanghai Composite Index fell 0.12% and India&rsquo;s BSE Sensex rose 2.3%.

Broker Recommendation
Analysts at Piper Sandler initiated coverage on Zillow Group Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/zg#NASDAQ">ZG</a>) with an Overweight rating and a price target of $112.
Zillow shares rose 1.9% to $99.25 in pre-market trading.

Breaking News 
<ul>
<li>Novavax, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvax#NASDAQ">NVAX</a>) announced plans to launch a large-scale diverse Phase 3 study of its COVID-19 vaccine in the United Kingdom.</li>
<li>Costco Wholesale Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cost#NASDAQ">COST</a>) reported better-than-expected results for its fourth quarter.</li>
<li>Bayerische Motoren Werke AG (OTC: <a class="ticker" href="https://www.benzinga.com/stock/bamxf#OTC">BAMXF</a>) and two of its subsidiaries in the United States have settled charges Thursday related to their corporate bond offerings with the authorities.</li>
<li>Colony Capital Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/clny#NYSE">CLNY</a>) reported the sale of 6 hospitality portfolios for $2.6 billion.</li>
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A Peek Into The Markets: US Stock Futures Down Ahead Of Durable Goods Orders Report

Bayerische Motoren Werke AG (OTC: <a class="ticker" href="https://www.benzinga.com/stock/bamxf#OTC">BAMXF</a>) and two of its subsidiaries in the United States have&nbsp;settled charges Thursday related to their corporate bond offerings with the authorities.
What Happened: The three companies allegedly&nbsp;disclosed inaccurate and misleading information on their retail sales volume&nbsp;during their $18 billion debt offerings, the United States Securities and Exchange Commission said in a <a href="https://www.sec.gov/news/press-release/2020-223">statement</a>&nbsp;Thursday.
The SEC said that the German automaker and the two U.S. subsidiaries agreed to pay a penalty of $18 million without admitting or denying the allegations leveled by it.&nbsp;
The companies have agreed to cease and desist from future violations of the concerned provisions, the SEC said.
&ldquo;Through its repeated disclosure failures, BMW misled investors about its U.S. retail sales performance and customer demand for BMW vehicles in the U.S. market while raising capital in the U.S.,&rdquo; the SEC Director of the Division of Enforcement Stephanie Avakian&nbsp;said.
Why It Matters: The SEC noted the cooperation extended by BMW in its investigation amid the COVID-19 pandemic.
The SEC is also <a href="https://www.benzinga.com/government/20/09/17522388/not-just-sec-justice-department-too-probing-short-seller-allegations-against-nikola-report">probing</a> automaker Nikola Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nkla#NASDAQ">NKLA</a>) for deceiving investors about its business prospects. A parallel investigation is also underway by the Department of Justice.
In July, UBS Group AG (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ubs#NYSE">UBS</a>) paid $10 billion to <a href="https://www.benzinga.com/government/20/07/16702085/ubs-agrees-to-pay-10m-to-settle-bonds-sale-violation-charges-with-sec">settle charges</a> after the SEC alleged that the Swiss bank allocated municipal bonds meant for small investors to flippers, who sold them for profit immediately.&nbsp;
Price Action: BMW OTC shares closed mostly unchanged at $71.45 on Thursday.
Photo courtesy: Tamer Aburabah via Wikimedia

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BMW To Settle SEC Charges Of Reporting Inflated Sales For $18M

New registrations of&nbsp;Tesla Inc&#39;s&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) Shanghai-made electric vehicles slumped 24% month-on-month in China in July, according to a state-backed industry body.
What Happened: The Elon Musk-led automaker saw 11,456 EV registrations in the country in the month, according to data from China Automotive Information Net, as earlier <a href="https://www.bloomberg.com/news/articles/2020-08-17/tesla-china-registrations-slow-as-competition-heats-up?sref=TBDibEcD">reported</a> by Bloomberg.
This was a 24% decrease over the 14,976 units that were registered in June, as per CAIN data.
It&rsquo;s worth noting that June was <a href="https://www.benzinga.com/news/20/07/16666706/tesla-china-registrations-hit-new-record-in-june-state-backed-body-says">a record month</a> for Tesla in China. The automaker had overall 61,217 vehicles registered in the country as of July-end, according to CAIN.
Why It Matters: The registrations for the Palo Alto-based company&rsquo;s vehicles declined at a time when it faces increased competition from both local and global automakers in China.
Registrations for electric vehicles made by local startup Nio Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nio#NYSE">NIO</a>) quadrupled to 3,533 in July, according to CAIN.
Established players, including Bayerische Motoren Werke AG (OTC: <a class="ticker" href="https://www.benzinga.com/stock/bamxf#OTC">BAMXF</a>) and Mercedes parent Daimler AG (OTC: <a class="ticker" href="https://www.benzinga.com/stock/ddaif#OTC">DDAIF</a>), are also gearing up to launch electric models, Bloomberg noted.
Chinese EV maker Li Auto Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/li#NASDAQ">LI</a>) <a href="">raised $1.1 billion</a> in its New York initial public offering late last month.
Tesla has been <a href="">actively hiring</a> in China as it prepares to start Model Y production in the country, according to a Reuters report.
Price Action: Tesla shares closed 1.83% higher at $1,650.71 on Friday, and traded about 0.3% lower in the after-hours session.
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Tesla's China-Made Electric Vehicle Registrations Plunged 24% In July

Roth Capital analyst Craig Irwin in a note Monday said his sources suggest&nbsp;Tesla&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) is preparing to enter the Indian market and that the automaker&#39;s Indian foray would have implications similar to its entry into China.
<h3>The Tesla Analyst</h3>
Irwin upgraded his rating on Tesla&rsquo;s stock to Neutral from Sell and increased the price target from $350 to $750.
<h3>The Tesla Thesis</h3>
The rating upgrade from Irwin, a Tesla skeptic, comes due to the checks he conducted, which indicate that Tesla is planning its entry into India, as&nbsp;<a href="https://www.fool.com/investing/2020/07/13/tesla-news-roundup-model-y-price-cuts-india-rumors.aspx" target="_blank">reported</a>&nbsp;by the Motley Fool.
Irwin revealed that his contacts have informed him that Tesla plans to launch an electric mini-car in the price-sensitive Indian market.&nbsp;
The size of the vehicle is expected to be similar to&nbsp;Bayerische Motoren Werke AG&rsquo;s&nbsp;(OTC:<a href="https://www.benzinga.com/stock/bamxf#OTC" target="_blank">&nbsp;BAMXF</a>) Mini Cooper or&nbsp;Fiat Chrysler Automobiles NV&rsquo;s&nbsp;(NYSE:<a href="https://www.benzinga.com/stock/fcau#NYSE" target="_blank">&nbsp;FCAU</a>) Fiat 500.&nbsp;
According to Irwin, the vehicle&rsquo;s sale in India could start as soon as 2021. He expects<a href="https://www.bloomberg.com/news/articles/2020-07-13/tesla-soars-on-looming-battery-day-india-entry-s-p-inclusion?sref=XoUMza3N" target="_blank">&nbsp;tangible evidence</a>&nbsp;regarding the automaker&rsquo;s plans to emerge by the end of this year.
<h3>Why It Matters</h3>
Tesla CEO Elon Musk, responding to a Twitter user asking about the arrival of Model 3 in India last week, said, &ldquo;hopefully soon.&rdquo;
<blockquote class="twitter-tweet">Sorry, should hopefully be soon!
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1281504714077560832?ref_src=twsrc%5Etfw">July 10, 2020</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>The billionaire entrepreneur also suggested in another tweet that the automaker could consider designing and manufacturing&nbsp;a smaller hatchback than its Model Y for countries with smaller&nbsp;roads than the United States at its upcoming Berlin plant.&nbsp;
<h3>Price Action</h3>
Tesla shares traded 4.5% higher at $1,565.00 in the pre-market session on Tuesday.

Analyst Ratings

Tesla To Debut In India By 2021, Expects Roth Capital's Irwin, Raises Price Target

Tesla Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) has dominated the rise in electric vehicle sales in South Korea this year as of April, according to <a href="http://www.kama.or.kr/BoardController">data</a> from the Korea Automobile Manufacturers Association and the Korea Automobile Importers &amp; Distributors Association.
<h3>What Happened</h3>
The Palo Alto-based automaker sold 4,075 cars in the country in April alone, according to the data earlier <a href="http://koreabizwire.com/tesla-leads-imported-ev-sales-in-s-korea/160824/">reported</a> by Korea Bizwire. This compares with the 236 units Tesla sold in the same month last year.
South Korean electric vehicles saw a 4.4% increase in sales at 10,161 units.
Tesla also made up for a majority of imported electric vehicles in the country, and sales of other foreign companies declined.
Nissan Motor Co. Ltd. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/nsany#OTC">NSANY</a>) electric vehicle sales dropped 60.6% year-on-year to 99 vehicles, and Bayerische Motoren Werke AG (OTC: <a class="ticker" href="https://www.benzinga.com/stock/bamxf#OTC">BAMXF</a>) sold 53 vehicles, down 3.6% YoY.
Tesla was the third-largest importer of cars in South Korea overall, not just the electric vehicles, behind Mercedes-Benz&#39;s 15,400 units and BMW&#39;s 11,331, as <a href="http://www.koreaherald.com/view.php?ud=20200526000903">noted</a> earlier by the Korea Herald.
The automaker saw increased sales following the launch of its Model 3 vehicles in November last year. The model&#39;s price&nbsp;starts&nbsp;at $26,000 in the country, including government subsidies, making it more affordable than the Model S and Model X versions that were available in the country earlier.
<h3>Tesla Price Action</h3>
Tesla shares closed 0.17% higher at $820.23 on Wednesday. The shares traded 0.7% lower at $814.40 in the after-hours session.

Tesla Leads Electric Car Sales In South Korea Thanks To Model 3

Intel Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/intc#NASDAQ">INTC</a>) is nearing a deal to acquire Isreali urban transit startup Moovit for about $1 billion, TechCrunch <a href="https://techcrunch.com/2020/05/03/intel-to-buy-smart-urban-transit-startup-moovit-for-1b-to-boost-its-autonomous-car-division/">reported</a> Sunday.
<h3>What Happened</h3>
The California-based technology giant had previously led a $50 million investment in Moovit in 2018, and has been in talks with the startup for an acquisition for the past six months.
Sources told TechCrunch that the startup will become a part of Intel&#39;s Israeli automotive hub, if the acquisition is successful.
The hub is led by self-driving technology developer Mobileye that was acquired by Intel back in 2017 for $15.3 billion.
Moovit&#39;s core service includes providing real-time traffic data and intelligent routing, something that could be key to Intel&#39;s efforts in developing automation technologies, TechCrunch noted.
Intel is looking to keep the startup&#39;s talent post acquisition and about 10% of the $1 billion payout, as part of the deal, will go towards employees in a retention package, TechCrunch noted based on a Hebrew-language <a href="https://www.themarker.com/technation/.premium-1.8816363?utm_source=App_Share&amp;utm_medium=iOS_Native">report</a> from The Marker.
Moovit was last valued at $500 million during the last investment round in 2018. According to its latest figures from 2020, its platform has been used for more than 800 million rides across 102 countries.
Bayerische Motoren Werke AG (OTC: <a class="ticker" href="https://www.benzinga.com/stock/bamxf#OTC">BAMXF</a>), LVMH Moet Hennessy Louis Vuitton SE (OTC: <a class="ticker" href="https://www.benzinga.com/stock/lvmuy#OTC">LVMUY</a>), and Sequoia Capital&#39;s Israel division also hold stakes in the startup.
<h3>Price Action</h3>
Intel closed 4.2% lower at $57.47 on Friday and was mostly unchanged in the after-hours session.

INTC

LVMUY

Intel Nears Deal To Buy Urban Transit Startup Moovit For $1B: Report

Bayerische Motoren Werke AG (OTC: <a class="ticker" href="https://www.benzinga.com/stock/bamxf#OTC">BAMXF</a>) registered a significant slump in its first-quarter vehicle sales due to slowdown in China, Europe and U.S. economic activity.
<h3>What Happened</h3>
The group, which includes BMW, MINI and Rolls-Royce vehicles, reported a 20.6% drop to 477,111 vehicles in the first quarter,<a href="https://www.bloomberg.com/news/articles/2020-04-06/bmw-first-quarter-sales-slump-as-coronavirus-hits-all-markets" target="_blank">&nbsp;Bloomberg reported</a>. Meanwhile, BMW standalone sales were down 20.6% to 411,809 vehicles.
The year 2020 began with positive growth for BMW until retail outlets sales numbers were damaged by the rapid outburst of the COVID-19. China sales had dented by February while European and U.S. markets reflected lower sales by March.
From January to March, China sales were down 30.9% while Europe and U.S. they dipped 18.3% and 17.4% respectively,<a href="https://www.reuters.com/article/us-health-coronavirus-bmw-deliveries/bmw-sales-plunge-in-first-quarter-as-coronavirus-takes-toll-idUSKBN21O0M0" target="_blank">&nbsp;Reuters reported</a>.
<h3>BMW Next Steps</h3>
&quot;We are responding to the worldwide challenging sales situation due to the corona pandemic and are adapting our production volume flexibly to demand,&rdquo; BMW&rsquo;s sales head Pieter Nota said in the statement, Bloomberg reported.
He further added that Chinese markets are indicating the first signs of recovery with some new orders.
Right now, 80% of its European retail outlets and 70% of U.S. outlets are closed. The company plans to commence operations at its plants from April 20th.

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