Trump: China 'Has Totally Violated Its Agreement With Us'
Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer met with Chinese officials in Geneva earlier this month. (Keystone/EDA/Martial Trezzini/Reuters)
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Rept Battero to supply batteries for Indonesian electric buses
Chinese battery manufacturer Rept Battero Energy Company has signed a supply agreement with PT VKTR Teknologi Mobilitas, the commercial vehicle manufacturing unit of Indonesia's Bakrie & Brothers Group, for up to 3,000 truck and bus battery packs by the end of 2025. Rept Battero's local subsidiary, PT Rept Battero Indonesia, will assemble the lithium-ion battery packs locally to help meet Indonesia's localization rate requirements (TKDN) and help advance zero-emission transportation in the country. The agreement was signed in VKTR's truck and bus plant in Magelang, Central Java, in the presence of Indonesia's Minister of Land Transport and Transportation of Indonesia, and the heads of General Administration of Customs, the Indonesian Chamber of Commerce, and local government officials. The VKTR plant is focused exclusively on the production of battery-powered commercial vehicles and is equipped with full-process manufacturing capabilities, including chassis assembly, battery assembly, body welding, painting, final assembly, and vehicle testing. The two companies also plan to collaborate on helping to develop Indonesia's battery supply chain, including nickel smelting and production of other battery materials. "Rept Battero to supply batteries for Indonesian electric buses" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
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Great News for Nio's Massive Battery-Swapping Ambitions
Nio offers battery swaps at thousands of locations across China. CATL is working with automakers to standardize battery-swap technology. Rumors are swirling that CATL could purchase some of Nio's battery-swapping unit. 10 stocks we like better than Nio › Nio (NYSE: NIO) has always been a fascinating stock to follow with its many ups and downs. The Chinese automaker is poised for strong growth on the back of launching two entirely new brands, Onvo and Firefly. Nio is also intriguing for its decision to push battery-swap technology, which it offers at thousands of locations. The idea is foreign to many U.S. investors, but it's far more popular in China. Nio recently received some good news regarding its battery-swap ambitions -- here's what you need to know. A battery swap is simply when someone with an appropriate vehicle drives a depleted battery into a swap station, and replaces it with a fully charged battery. Nio's newest vehicles can do this in roughly two-and-a-half minutes. Now, let's get to the good news. Another Chinese battery maker, CATL, is working with a group of Chinese automakers on a battery swapping technology that takes just over 90 seconds. According to Car News China, 1,000 electric vehicle (EV) sedans with CATL's "Choco-SEB" swappable battery have been delivered to a taxi company -- a near-perfect application for battery swaps that would limit downtime for taxi drivers. Wait a second, isn't more battery-swap competition a bad thing for Nio? Absolutely not. Nio's competition isn't truly other battery-swapping tech -- its competition is fast-charging stations. Nio needs to create an ecosystem of vehicles that use its setup to have a thriving userbase for its swapping stations, and CATL can help with this aim. CATL is working to bring together a group of automakers to develop a standardized system for battery swaps that could vastly increase the number of swapping vehicles on the road. Furthermore, rumors are floating around that CATL is looking to purchase a controlling stake in Nio Power's battery swapping unit, which, depending on the potential agreement, could vastly increase the scale of battery-swapping technology. CATL is already working on building out a network of its stations. It's also likely that Nio's more affordable and higher-volume brand, Firefly, could bring in a fleet of new vehicles to match this new standard. This all sounds great, so where's the drawback? The catch, if you want to call it that, is that competition with fast-charging stations is increasing as companies find ways to speed up the process. In fact, automakers are already hard at work to beat BYD's five-minute EV fast-charging benchmark. It's certainly a risky ambition to build out a capital-intensive network of battery-swap stations that may only save a few minutes compared to fast-chargers. Another drawback is that the idea of a standardized battery development (so many platforms of vehicles can use the same battery-swap technology) means that these batteries and designs could be slower to evolve at a time when individual companies are trying to race ahead with breakthroughs. CATL, a juggernaut battery producer, coming on board to push battery-swapping networks with multiple automakers is a huge deal for Nio, and that's before considering the doors it could open as the two companies grow more ties. Furthermore, if CATL does purchase a controlling stake in Nio Power's battery-swap business, it could give a young cash-burning company some extra capital. No matter how you spin it, this development is great news for Nio's massive battery-swap ambitions, one of the company's biggest risks. Before you buy stock in Nio, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Nio wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $656,825!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $865,550!* Now, it's worth noting Stock Advisor's total average return is 994% — a market-crushing outperformance compared to 172% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 2, 2025 Daniel Miller has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Great News for Nio's Massive Battery-Swapping Ambitions was originally published by The Motley Fool Sign in to access your portfolio
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Tesla Stock Falls Amid Musk Vs Trump Feud
Tesla TSLA shares had their worst day since March, falling 14% on Thursday as the feud between Elon Musk and President Trump continues to heat up, and is making international headlines. In the aftermath of his 130-day term ending as a special government employee, Musk has publicly criticized the Trump administration's budget reconciliation bill after previously heading the Department of Government Efficiency (DOGE). Despite losing favoritism in the White House, Tesla shareholders have previously called on Musk to focus his attention back on the leading EV maker amid declining sales. Underlying this is that having a CEO push a political agenda had disrupted public sentiment, with Tesla facing significant losses of more than $100 million this year regarding vandalism at its dealerships and EV charging stations, which spilled over from nationwide protests targeting Elon Musk. This also created a somewhat unnecessary way for General Motors GM and Ford F to potentially take more share of the domestic EV market, with the public outcry of the 'Tesla Takedown' movement coming as the DOGE cut thousands of federal jobs at the discretion of the world's wealthiest person. Adding fury to Musk's frustration with President Trump's budget reconciliation bill is that it will eliminate tax credits for electric vehicles that have benefited Tesla and other EV manufacturers, while undermining his cost-cutting efforts as head of the DOGE. However, harsh criticism and a personal vendetta against the Trump administration could, of course, make Tesla the target of harsher EV regulations in the U.S., with the President threatening to take away the company's government contracts. Furthermore, this comes on the heels of recent reports that Tesla's sales have continued to decline in Europe, as sales in May fell 45% year over year in the U.K. and 36% in Germany amid rising competition from Chinese EV brands such as BYD and XPeng XPEV. Notably, BYD has surpassed Tesla as the top-selling EV brand in Europe. Most concerning to technical traders is that TSLA has fallen below its 50-day simple moving average (Green Line) of $292 a share, which is lower than its 200-day SMA (Red Line) of $310 due to the recent volatility in the stock. Generally, the 200-day SMA is lower than the 50-day SMA when a stock is in an uptrend and higher than the 50-day SMA when a stock is in a downtrend, as in Tesla's case. Image Source: Zacks Investment Research Also suggesting more risk ahead for Tesla stock, and correlating with news of declining sales in Europe, is that fiscal 2025 and FY26 EPS estimates are noticeably lower in the last month and have now dropped 25% and 18% over the last 60 days, respectively. Image Source: Zacks Investment Research Considering the short-selling strategy has paid off with TSLA of late, with it noteworthy that Tesla has led the Zacks Short Sale List with +20% gains after borrowing shares at $358.91 on Tuesday, May 27. Image Source: Zacks Investment Research The back-and-forth spat between Elon Musk and President Trump won't do any favors for Tesla's outlook. Unfortunately, TSLA lands a Zacks Rank #5 (Strong Sell) at the moment in correlation with the trend of declining earnings estimate revisions. Eventually, this could end up being a lucrative buying opportunity for TSLA down the road, but a dispute between the world's most powerful and wealthiest person could drag down the broader market as well, with Tesla dragging the Nasdaq down roughly 1% on Thursday. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Tesla, Inc. (TSLA) : Free Stock Analysis Report Ford Motor Company (F) : Free Stock Analysis Report General Motors Company (GM) : Free Stock Analysis Report XPeng Inc. Sponsored ADR (XPEV) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
