![]() ![]() ![]() Adapters are expected in mid-2024 to allow existing Polestar drivers to access the network. In a press release, the company detailed plans to include the Tesla standard in all new Polestar vehicles from 2025 onward. On top of that, Swedish automaker Polestar (NASDAQ:PSNY) announced Thursday that it had signed an agreement with Tesla to adopt the NACS. The move follows an identical one in Texas a couple of days prior. The state of Washington said it would require EV charging companies to include Tesla’s NACS to their charging stations if they plan to be a part of a state program to electrify highways using federal dollars. Tesla (NASDAQ:TSLA) received more good news this past week as EV makers and charging companies have continued to adopt the company’s North American Charging Standard (NACS), or “Tesla Standard,” as some call it. Shares of RIDE fell 27% this week and are down nearly 88% so far this year. The notice, received on June 28, indicated the company's failure to comply with listing rules, resulting in the suspension of trading in its class A common stock on July 7, as stated in the filing. Shortly after, Lordstown - named after the Ohio town it operates in - disclosed that it had received a delisting notice from Nasdaq. According to the filed complaint, Foxconn purposefully and in bad faith exploited the various contractual agreements with Lordstown to undermine and dismantle the company's operations, while leveraging the resources gained from the partnership to advance its own business interests. The lawsuit alleges that Foxconn never had genuine intentions to fulfill its obligations, particularly in relation to the development platform for new vehicles. Lordstown declares bankruptcyįollowing the announcement of its bankruptcy protection filing in a Delaware court, Lordstown (NASDAQ:RIDE) shares witnessed a sudden 50% plunge on Tuesday morning.Īs part of its efforts to restructure under Chapter 11, Lordstown also unveiled a lawsuit against Foxconn parent Hon Hai Technology Group, accusing Foxconn of fraudulent behavior and of repeatedly reneging on its commitment to invest up to $170 million in the EV maker. Get EV news like this in real time with InvestingPro. Here is your weekly Pro Recap of the past week's biggest headlines in the electric vehicle space: RIDE files Chapter 11 Tesla sees continued expansion for its charging standard and TSP puts up for-sale signs. ![]()
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