Toronto, Ontario — Li-Cycle announces its participation in a run of investor events, Tesla reports strong sales numbers in spite of microchip shortage and FCA also releases it’s Q1 financial report, in this week’s Tuesday Ticker.
Li-Cycle announced that it plans to participate in several upcoming investor events, beginning this week.
The company will be in attendance for the Wells Fargo Future Mobility Conference, from April 7-8; the Wedbush Electric Vehicle Conference, also on April 8; the Cormark Inflection 2021: Materials, Industrials, Agriculture and Power in an Era of Sustainability Conference, from April 12-16 and the U.S. Capital Advisors’ Energy Transition Fireside Chat Series, on April 15.
On February 16, 2021, Li-Cycle announced its entry into a definitive business combination agreement with Peridot Acquisition Corp. (NYSE: PDAC). Upon the closing of the business combination, which is expected in the second quarter of 2021, the combined company will be named Li-Cycle Holdings Corp.
Li-Cycle intends to apply to list the common shares of the combined company on the New York Stock Exchange under the new ticker symbol, “LICY.”
Bet on Batteries
Tesla is boasting big numbers, despite a microchip shortage that affected much of the auto industry, reporting that the company moved 185,000 electric vehicles in Q1.
The number was more than double the deliveries for the same period last year and beating Wall Street estimates of 168,000 for January through March.
The company said in a statement that the Model Y small SUV in China has been well received.
The strong sales are a sign that demand for the company’s relatively expensive vehicles remains strong despite the pandemic.
FCA Canada reported a Q1 sales total of 46,077 vehicles, an increase of 4 percent from 44,140 sold in Q1 2020. For the calendar year, retail sales are up 28 percent versus this time last year.
For Q1 2021, Jeep brand total sales of 14,955 represent a 33 percent increase compared with the prior year. Jeep Cherokee, Gladiator and Wrangler saw sales increases of 80 percent, 64 percent and 23 percent, respectively. Looking specifically at Jeep brand retail sales, there was an increase of 49 percent for the quarter.
The Ram brand started 2021 strong with total sales up 8 percent for the quarter with 22,110 trucks sold, compared with 20,530 sold in the same timeframe of 2020. Looking specifically at Ram pickup trucks, there was an 11 percent increase in sales with 21,367 trucks sold, compared with 19,179 sold in Q1 of the prior year. In terms of retail sales, Ram brand sales were up 13 percent from the same time in 2020.