Last week, third-quarter U.S. auto sales figures of various auto biggies were released. While sales of most firms declined year over year, the metric improved from the prior quarter. Importantly, the recovery gained traction especially in September, as sales rebounded from coronavirus-led lows and even grew year over year. (Does Q3 U.S. Auto Sales Signal Green Shoots of Recovery?)
On the news front, after making some big announcements at its Battery Day, Tesla entered into a five-year binding sales agreement with Piedmont Lithium, an Australia-based mining company.The long-term deal with Piedmont to procure an intermediate product for manufacturing batteries is in sync with Tesla’s vision of in-house production of batteries.
Recap of the Week’s Most Important Stories
Tesla TSLA reported stellar third-quarter 2020 vehicle production and delivery figures. The red hot EV maker registered deliveries of 139,300 vehicles in the September-end quarter. The reported figure included 124,100 deliveries