Tesla is scheduled to report second quarter results Monday, July 26
Welcome to The Fly’s latest edition of “Charged,” where we look back at some recent analysts’ notes, news and activity in the electric vehicle and clean energy space.
GM, CRUISE SUE FORD: General Motors (GM) and its Cruise robo-taxi subsidiary have filed a lawsuit to stop Ford Motor (F) from using the name “BlueCruise” to market its hands-free driving technology, Reuters’ Joseph White reported, citing the companies. “While GM had hoped to resolve the trademark infringement matter with Ford amicably, we were left with no choice but to vigorously defend our brands and protect the equity our products and technology have earned over several years in the market,” GM said in a statement.
CHEVY BOLT EV RECALL: General Motors announced a second recall of its 2017-2019 Chevrolet Bolt electric vehicles after at least two of the cars that were repaired for a previous problem erupted into flames. GM and LG, which supplies the vehicle’s battery cells, have identified a second “rare manufacturing defect” in the Bolts that increases the risk of fire. The recall covers about 69,000 of the cars globally, including nearly 51,000 in the U.S. To fix the issue, GM will replace defective battery modules in the vehicles. The repair is different than the previous fix, which largely relied on software and, in some cases, replacement modules, GM noted. “We’re working with our supplier and manufacturing teams to determine how to best expedite battery capacity for module replacement under the recall,” GM spokesman Dan Flores said in an email to CNBC.
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