How businesses are turning ESG into a competitive advantage
Businesses have the power and responsibility to tackle big issues like climate change, inequality, and social injustice.
electric vehicles
Nissan to launch 30 new models by 2027, boost global sales volumes
Nissan Motor plans to launch 30 new models over the next three years and aims to raise its global sales by 1 million vehicles while cutting costs to improve profitability.
Nvidia, ’s dizzying rally spurs rush into AI-themed ETFs
The excitement around artificial intelligence (AI) has led to a significant increase in investments in AI-themed Exchange-Traded Funds (ETFs) in the United States, with their total value rising from .55 billion to .88 billion from the previous year to the end of February, according to Morningstar data. This surge in interest is partly due to the impressive performance of companies like Nvidia, whose shares have seen substantial growth. Nvidia, recognized for its AI chips, recently introduced the Blackwell B200 chip, which is up to 30 times faster than its predecessor. The GraniteShares 2x Long NVDA Daily ETF, which aims to deliver twice the daily return of Nvidia’s shares, saw its assets double to billion. Other smaller AI-themed ETFs, such as the Themes Generative Artificial Intelligence ETF, have also seen significant growth in assets. Morningstar tracks 18 diversified AI-related ETFs, seven of which were launched in the last three years, and one was redesigned to focus more on AI. These funds collectively attracted .68 billion in inflows over the last 12 months. The interest in AI has contributed to a nearly 8% increase in the S&P 500 year-to-date, with significant gains in AI-related companies like Nvidia and Microsoft. Some ETFs, like the Global X Artificial Intelligence and Technology ETF, limit exposure to Nvidia to manage risk, while others, like the Robo Global Robotics & Automation ETF, include companies expected to benefit from AI technology. However, not all AI-themed ETFs have been successful, with the WisdomTree US AI Enhanced Value ETF experiencing outflows of .26 million in the last 12 months and underperforming compared to the S&P 500, possibly due to a lack of positions in Nvidia and other AI-related stocks.
EV startup Fisker to raise funds, pause production after missing interest payment
Fisker announced a six-week pause in electric vehicle production and plans to raise up to 0 million through the sale of convertible notes after missing an interest payment due to a cash crunch. The company produced no Ocean SUVs in January, but approximately 1,000 vehicles were manufactured by Magna’s Austrian unit between February 1 and March 15. Fisker delivered about 1,300 vehicles in 2024, with an inventory value exceeding 0 million. The convertible notes, being sold to CVI Investments via Heights Capital Management, have a 10% original issue discount. Fisker opted not to make a .4 million interest payment on March 15 for some 2026-due convertible notes, citing the use of a 30-day grace period to discuss capital structure with investors. As of the last report, Fisker had 0.9 million in cash and equivalents, down from 5.9 million at the end of the previous year. The company is in discussions with a major automaker for a potential deal, with Nissan reported as being in advanced talks for a possible investment. Fisker has shifted its sales strategy to rely more on dealerships and has paused investments in future projects pending a partnership with an automaker, citing doubts about its ongoing viability.
Electric vehicle plans of Indian automakers
India announced a reduction in import taxes on certain electric vehicles (EVs) for carmakers committing to a 0 million investment and starting domestic manufacturing within three years. This policy aims to increase competition in India’s car market, targeting a rise in EV sales from 2% to 30% by 2030. Tata Motors plans to expand its EV portfolio to 10 models in the next 3-4 years, aiming for EVs to constitute 25% of its total car sales by 2025. Mahindra and Mahindra anticipate electric models will account for 20%-30% of its SUV sales by March 2027. Hyundai Motor India intends to introduce five EV models by 2032 and increase its charging stations to 439 by 2027. Maruti Suzuki India plans to launch six EV models by 2030, with its first battery EV expected by the end of 2024. JSW Group announced a 400 billion rupee investment in EV and battery manufacturing in Odisha and is discussing technology and component supply with Volkswagen.
Magnificent Seven stocks , ‘look cheap’
The CEO of deVere Group, Nigel Green, asserts that the Magnificent Seven tech stocks are undervalued compared to other stocks in the S&P 500. This analysis follows the S&P 500 reaching a new record high, along with other major indices like the Nasdaq Composite, Japan’s Nikkei 225, Germany’s Dax, and France’s Cac 40. The Magnificent Seven achieved a net income growth of 27% in 2023, contrasting with a 4% net income loss for the rest of the S&P 500. Their early investments in artificial intelligence (AI) have contributed to their undervaluation. Companies such as Microsoft and Meta have made significant investments in AI, with Meta’s stock increasing by 44% and Microsoft’s by 8% this year. Nvidia, a chipmaker, has seen its stock value rise by 87% due to its contributions to the AI revolution. Despite declines in Tesla and Apple’s stock values in 2024, by 28% and 12% respectively, their long-term growth prospects remain strong. Green emphasizes the importance of the Magnificent Seven tech stocks for future growth and innovation.
Cabinet approves 1,000 electric car chargers
The cabinet approved the creation of 1,000 charging stations for electric vehicles as part of the Cyprus Recovery and Resilience Plan. The transport ministry is tasked with the project’s implementation, aimed at promoting electric vehicle adoption and transitioning to a green economy. The project, with a budget of €2.5 million, seeks to reduce greenhouse gas emissions and promote sustainable technologies.