We’re initiating a position in Nextracker , buying 350 shares at roughly $48.18. Following Thursday’s trade, Jim Cramer’s Charitable Trust will own 350 shares of NXT with a weighting of about 0.5%. Nextracker makes solar tracker systems that allow huge utility-scale rows of solar panels to rotate and follow the sun’s movement across the sky throughout the day, maximizing their power generation. It’s the “backbone” of any solar power system, as management would say. We’re using proceeds from Thursday’s exit of Foot Locker to fund this addition. We’re calling up Nextracker from the Bullpen , viewing its 24% pullback over the past couple of weeks as a good entry point to start a new position. As you can tell by its recent trading, this is a highly volatile name that is sensitive to interest rates and government policy. It’s why we are starting this position on the smaller side, leaving plenty of room to scale over time. Nextracker stands out for its leadership in a fast-growing market. Its original innovation was a single-row tracker technology that allows each row of panels to move independently, rather than all in unison. While this was once considered too expensive, Nextracker was able to lower its input pricing to the point where they’re now much more competitive. Over the years, the company added additional features to its product line of integrated hardware and software. Some of these features include self-powering systems, software that helps improve the energy yield on uneven terrain or bad weather conditions, and equipment that protects solar panels during hail storms, which is one of the leading causes of panel breakage. In response to customers needing something to mitigate hail damage risk, Nextracker developed an industry-first “hail stow” technology. Its most advanced system is fully automated and can provide up to a 75-degree rotation angle. Nextracker is the global market share leader in this space, with the highest-quality and most reliable product with the lowest install cost, operating cost, and levelized cost of energy (LCOE), which is a measure of lifetime costs divided by energy production. Its U.S. business accounts for roughly two-thirds of the company’s revenue. The international market is more competitive and its margins are lower than the corporate average, but the company believes there are opportunities to gain market share and pricing over time. The company reported a strong set of fourth-quarter results in May, with revenues up 42% year over year, much higher than expected, and adjusted EBITDA of $160 million versus $134 million expected. On adjusted earnings, analysts expected the company to make 68 cents per share, but it earned 96 cents per share. NXT YTD mountain Nextracker YTD For the full-year fiscal 2025, Nextracker management guided revenues in line but adjusted EBITDA ahead of estimates and adjusted EPS below estimates at the midpoint. However, some analysts pointed to management’s strong execution since becoming a public company, raising guidance each quarter in fiscal 2024, as a sign that guidance could be conservative. What makes solar, and the renewable industry at large, so appealing is that energy usage has increased dramatically over the past few years, driven by growth in data centers, electrification of appliances and vehicles with the need for more charging stations, and reindustrialization across the United States. It’s one of the reasons why we have been so bullish on Eaton . In a recent note by UBS, the analyst points out that Amazon , Meta , Microsoft , and Google represented 40% of total U.S. utility-scale solar demand over the last five years. Just four companies. Why are they huge buyers? These mega-cap tech companies are committed to 100% renewable power or clean energy. They are committed to decarbonizing. But here’s the thing: their needs may dramatically increase in the years ahead because of AI, which we know uses 10 times more electricity per query than a traditional Google search. And training has much higher power needs than your traditional cloud infrastructure. UBS argues that if these companies are in the early stages of exponential electricity demand growth, we should see demand for renewable projects increase along with it. Most will come from utility-scale solar projects that need tracker systems from either Nextracker or a competitor. Solar projects are a solution to these demand challenges because it is the lowest-cost option for new power. Its why CEO Dan Shugar explained on the last earnings call that solar deployments are accelerating in most of the world. Shugar’s positive view is also based on the U.S. Energy Information Administration forecasts of a 5% annual increase in new power generation needs over the next five years, and solar being the fastest growing energy technology with a 26% compound annual growth rate over the next five years. Nextracker’s record backlog of over $4 billion, up from $2.6 billion, surely supports this view. Even with all this growth happening at Nextracker and in the industry at large, we’re talking about a stock that trades at only 16 times the midpoint of its adjusted EPS outlook. If the stock can trade up to 18 times the high end of its full-year earnings guidance, the stock will trade at $55. We’ll set our price target at that level and note it is still $5 below where the stock traded in mid-June. The company has a strong liquidity position, which matters in this industry. Solaredge got slammed Tuesday after offering convertible notes and took down the whole group with it. Last quarter, Nextracker had about $470 million in cash and $150 of debt on the balance sheet and generated more than $400 million of cash flow over the full year. The company is not allowed to pay dividends or repurchase stock until 2026 due to the rules related to the spin from Flex , so what it can do instead build cash and use what’s leftover for disciplined mergers and acquisitions. Last week, it announced it paid $119 million to buy Ojjo, a renewable energy company specializing in foundation technology and services used in utility-scale ground-mount applications for solar power generation. Putting it all together, we are interested in renewables and solar stocks because energy needs are increasing around the world. Nextracker stands out to us in the group because of its technology leadership, strong balance sheet, and track record of execution. (See here for a full list of the stocks in Jim Cramer’s Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
Ford claims its new midsize EV pickup will have a lower cost of ownership than a Tesla Model Y and more space than a Toyota RAV4. Starting at $30,000, it will also cost about the same as the RAV4. Here’s how the new Ford EV Universal Platform will make it happen.
Ford reveals new affordable Universal EV platform
Ford’s big bet is about to pay off. The company is preparing to launch a family of affordable electric vehicles based on the new Ford Universal EV Platform.
The first vehicle based on the platform will be the promised midsize four-door electric pickup. Ford’s new EV pickup will start at around $30,000 and will be assembled at its Louisville Assembly Plant.
Based on the new Ford Universal EV Platform, it will also have more passenger space than the latest Toyota RAV4.
Advertisement – scroll for more content
“We took a radical approach to a very hard challenge: Create affordable electric vehicles that delight customers in every way that matters – design, innovation, flexibility, space, driving pleasure, and cost of ownership,” Ford’s CEO Jim Farley said during the event in Kentucky.
According to Farley, Ford is done with the “good college tries” from other Detroit automakers to make affordable EVs, promising the company’s new platform will change the game by lowering costs and optimizing efficiency.
Ford introduces its new Universal EV Platform (Source: Ford)
Ford is the first automaker to build prismatic LFP batteries in the US, which will not only cut costs but also free up interior space.
Farley explained that the new platform reduces parts by 20% compared to the average vehicle. It also has 25% fewer fasteners, 40% fewer worstations dock-to-dock in the plant, and 15% faster assembly time.
Perhaps, most importantly, Ford’s leader explained that it will help reduce costs for owners. Farley claimed that the new Ford Universal EV platform will enable “lower cost of ownership over five years than a three-year-old used Tesla Model Y.”
Ford Mustang Mach-E (left) and F-150 Lightning (right) (Source: Ford)
How so? For one, it’s significantly more efficient than the first-gen Ford EVs. The wiring harness alone in the new midsize truck will be 4,000 feet shorter and 10 kg lighter.
The LFP batteries lie flat under the floor, which improves handling, creates a quiet ride, and “provides a surprising amount of interior space,” Ford said. In fact, it will have more passenger room than the latest Toyota RAV4. And that’s not even including the added Frunk and truck bed.
Doug Field, Ford’s Chief EV, digital, and design officer, said the company took inspiration from the Model T to make it more than just a utility vehicle.
Ford promises that the new electric pickup will also be fun to drive, with a targeted 0 to 60 mph time as fast as the Mustang EcoBoost, and even more downforce.
The company will release additional information for the midsize electric pickup soon, including a reveal date, final prices, range, battery sizes, and charge times.
Ford said it’s aiming for a starting price of around $30,000, with customer deliveries set to begin in 2027. The company invested around $5 billion into its Louisville Assembly Complex, creating nearly 4,000 jobs to deliver its new EV pickup and LFP batteries.
FTC: We use income earning auto affiliate links.More.
Jeep said the Recon was “inspired by the legendary Wrangler,” but it looks more like a Ford Bronco. With its debut expected any day now, Jeep’s new electric SUV was spotted on a car carrier, revealing a familiar look.
Jeep’s new electric SUV is coming for the Ford Bronco
The Recon was one of four electric SUVs unveiled in 2022 as part of Jeep’s plans to become “the global Zero-Emission SUV leader.”
It started with the Avenger, a compact electric SUV in Europe, followed by the Wagoneer S, a larger, luxury model that’s rolling out globally.
Next up will be the Recon. Jeep’s new electric SUV is set to make its first official appearance by the end of the year, but we’re already getting a sneak peek at the Ford Bronco lookalike.
Advertisement – scroll for more content
The Recon is “designed from the ground up to be 100% Jeep4x4 and 100% zero emission,” but Jeep promises it will offer much more. With Jeep’s Selec-Terrain traction control system and an open-air feel, it was expected to arrive as an electric sibling to the Wrangler, but the latest spy photos show it could take the form of a rival.
With its official debut coming up, Jeep’s new electric SUV was spotted on a car carrier with barely any camouflage, and it looks just like a Ford Bronco.
The new video from KindelAuto gives us our closest look at the Recon yet — and from what we can see, it’s shaping up to be one sharp-looking SUV.
Jeep actually took a jab at the Ford Bronco during the Super Bowl last year, previewing the Recon racing past a Ford Bronco on an off-road trail. At the end, Harrison Ford joked, “This Jeep makes me happy, even though my name is Ford.”
Jeep’s former CEO, Christian Meunier, claimed the Recon will have “the capability to cross the mighty Rubicon Trail, one of the most challenging off-road trails in the US.”
Jeep Recon EV (Source: Stellantis)
Perhaps, even more importantly, Meunier added that the electric SUV will “reach the end of the trail with enough range to drive back to town and recharge.
Jeep maker Stellantis filed a patent in May for a unique three-speed gearbox for electric vehicles, which could debut in the Recon. The new unit is designed to deliver enhanced off-road performance without compromising driving range.
Jeep Recon Moab 4xe (source: JeepReconForum)
Based on the same STLA Large platform as the Wagoneer S, the Recon is expected to arrive with a driving range of at least 300 miles. Like the Wrangler, it will likely be offered with several trims, including a Willys, Overland, and Moab model.
The Jeep Recon EV is scheduled to go on sale later this year as a 2026 model year. Prices are expected to start at around $60,000. More expensive trims, like the Moab, could cost upwards of $80,000.
What do you think of the Recon? Can Jeep’s new electric SUV go head-to-head with the Ford Bronco? We will learn more later this year. Check back for the latest.
Source: KindelAuto, JeepReconForum
FTC: We use income earning auto affiliate links.More.
Tesla’s director of service for the North American market announced that he left the automaker after almost 9 years.
The talent exodus continues at Tesla.
Since a wave of mass layoffs last year, Tesla has been experiencing a talent exodus.
Here is just a short list of Tesla execs who left the company this year:
Advertisement – scroll for more content
David Imai: Director of Design; departed February 2025
David Lau: VP of Software Engineering; departed April 2025
Mark Westfall: Head of Mechanical Engineering (Tesla Energy); departed April 2025
Prashant Menon: Regional Director (India); departed May 2025
Vineet Mehta: Head of Battery Architecture; departed May 2025
Omead Afshar: VP/Head of Sales and Manufacturing (North America and Europe); departed June 2025
Milan Kovac: Head of Optimus Humanoid Robot Team; departed June 2025
Jenna Ferrua: Director of HR; departed June 2025
Troy Jones: VP of Sales, Service, and Delivery (North America); departed July 2025
Pete Bannon: VP of Hardware Engineering (Chip Tech and Dojo Supercomputer); departed August 2025
Now, we need to add one more to the list: Piero Landolfi, Director of Service in North America.
Landolfi announced that he was leaving Tesla on LinkedIn yesterday:
After 8 3/4 years I have made the difficult decision to leave Tesla. It was hard because of the incredibly talented and passionate people that I had the privilege to work, sweat and laugh with as we were accelerating the world to sustainable energy, against all odds and in spite of what used to be the general beliefs about electric cars. It was hard because of the amazing products we build, the first principle thinking and the getting stuff done mentality that makes Tesla such an exciting place to work at. However, it is now time for my next adventure. This is the way.
He was later promoted to Director of Service for the North American market.
According to his LinkedIn profile, he has joined Nimble, a robotics company serving warehouses and e-commerce, as SVP of Operations. The company includes several former Tesla veterans in its leadership.
Electrek’s Take
The talent bleed continues. I want to emphasize that we are only reporting on the exec levels (C-level, VPs, and directors), but there are many more people leaving in key engineering and management positions.
I’m considering writing an article on those, as this talent exodus has been one of the main concerns about Tesla for a while.
For the longest time, Tesla’s ability to attract top talent has been its main advantage.
Looking at the comings and goings at Tesla over the last year, this is clearly not the case anymore.
FTC: We use income earning auto affiliate links.More.