Costly Electric Vehicles Confront a Harsh Coronavirus Reality

Costly Electric Vehicles Confront a Harsh Coronavirus Reality

(Bloomberg) -- At a factory near Germany’s border with the Czech Republic, Volkswagen AG’s ambitious strategy to become the global leader in electric vehicles is coming up against the reality of manufacturing during a pandemic.The Zwickau assembly lines, which produce the soon-to-be released ID.3 electric hatchback, are the centerpiece of a plan by the world’s biggest automaker to spend 33 billion euros ($36 billion) by 2024 developing and building EVs. At the site, where an East German automaker built the diminutive Trabant during the Cold War, VW eventually wants to churn out as many as 330,000 cars annually. That would make Zwickau one of Europe’s largest electric-car factories—and help the company overtake Tesla Inc. in selling next-generation vehicles.But Covid-19 is putting VW’s and other automakers’ electric ambitions at risk. The economic crisis triggered by the pandemic has pushed the auto industry, among others, to near-collapse, emptying showrooms and shutting factories. As job...

Sorrento’s COVID-19 Antidote Could be a Game Changer, Says Analyst

How do we protect those at the frontline facing COVID-19 head on? Sorrento Therapeutics (SRNE) is on it.Looking at billions of antibodies, the company identified a small group that demonstrated the ability to block the S1 protein's interaction with human angiotensin-converting enzyme 2 (ACE2), the receptor used for viral entrance into human cells. Based on this, SRNE wants to develop an antibody cocktail against SARS-CoV-2, the virus that causes COVID-19, that is still effective even if mutations occur.Weighing in for Dawson James, analyst Jason Kolbert tells clients that SRNE’s antibody, STI-1499, has already exhibited a strong performance in an early clinical setting. Expounding on this, he stated, “What was also equally impressive was the low dose, which suggests the antibody ‘fits’ its target extraordinarily well and, as such, can work at a very low dose. This could translate into the ability to scale up rapidly to millions of treatments at a...

Why Is the Stock Market Up?

By some estimates, nearly one in four Americans is out of work. A steady stream of bankruptcies has begun, both out loud and quietly, and many businesses have shuttered for good. The full extent of the damage wrought by the … Continue reading ->The post Why Is the Stock Market Up? appeared first on SmartAsset Blog....