Ford teases at launch of new model
Car manufacturer, Ford has released a teaser of its next GT Supercar that is due to be made public on 4 July- Independence Day. The launch of the new model will also coincide with the 2019 Goodwood Festival of Speed which will be held in the UK. Details of the new vehicle are few and far between as all you can make out from the image is its outline. With a roof scoop and a big rear wing, its features appear similar to what can be found on racing versions of the GT. Some say that this mystery car could be a track-ready version of a supercar, but that will be sold to customers. Over a few years of uncertainty, Ford Motor Company’s stock is on the up, due to their focus on next-gen vehicles in brand new markets.
NIO loses two executives in latest challenge
Electric car startup, NIO has lost two members of its senior management team, just days after it recalled over a quarter of its cars from China. The Managing Director of the company’s business in the UK, Angelika Sodian wrote on LinkedIn that she will be leaving the company. She had been with NIO for over four years and had previously been the HR Director for Europe. Head of NIOs software team, Zhuang Li also announced he was leaving the company to found a software firm of his own. Zhuang joined NIO in 2016 as VP of software research and development. A spokesperson for NIO said that both individuals left for personal reasons.
Micron and Intel stocks climb
As trade war tensions have somewhat relaxed, it has had a positive impact on stocks. In particular tech giants Micron and Intel have both registered an increase in the value of their stocks. That said, not all analysts are convinced that this signifies better days for them. Analyst at Citi Research, Christopher Danley said that he doesn’t plan to chase Intel shares and predicted a downside to consensus estimates. He gave the stock a neutral rating and also predicted similar for Micron. Despite this gloomy outlook, on Monday, Intel shares were up 0.5% by midday with Micron shares up 4.5%. The burst came after President Trump announced that he would not impose a new round of tariffs on Chinese Imports. He also suggested he may allow US companies to resume sales to Chinese firm, Huawei- a big client of Micron.