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🍪🇯🇵🔋Toyota has decided chip shortages are for chumps and will no longer participate in them. Instead, the Japanese automaker targets a 10% profit jump for 2023, including a 500% increase in EV sales. Some of Toyota's European investors ask the brand for more transparency regarding climate change lobbying efforts. Shareholders are concerned the former global leader in environmentally friendly cars has been dragging its electric feet due to financial incentives from shadowy figures who don't like batteries.
🥳👍📈Rivian is celebrating smaller-than-expected losses last quarter because a smaller negative number is just a positive number in disguise! The company lost $1.35B (down from $1.59B year over year) after bringing in $661M (up from $95M YOY) in revenue. While shifting priorities have lead to spending cuts in the last year, the EV maker says they are still on track to hit their 50K production goal for 2023. Shares were up 4% following the news.
🦖🛻🤑Ford's new truck is a Ranger in the woods but a Raptor under the hood. Which is our way of saying the company revealed a redesigned Ranger and announced a performance Raptor version it expects to account for around 10% of the mid-size pickup's sales. Ford has been working with high-profit variants to get dat money for EV investments. The Raptor will share about 80% of its parts with the regular Ranger model but have a 30% higher margin. It's like putting a little more truck in the truck to get more money out of the truck.