Strait of Hormuz Oil Transit Rises Amid Risks

Jalopnik reports that despite heightened threats, more oil moved through the Strait of Hormuz last week than in some pre-conflict periods. Shipping intelligence firm Marisks warned of a volatile kinetic threat due to the surge in traffic, according to Reuters data cited by Jalopnik. The seven-day moving average for crude exports from the region hit 18.3 million barrels per day on September 30, per Kpler, with volumes exceeding pre-war levels on 14 days in September. The recent export boom was driven by Saudi Arabia loading from both the Red Sea and the Gulf after a September 10 attack on its East-West pipeline, Kpler said. With that pipeline operational again, it remains to be seen if the strait's traffic will drop or if others follow the lead.

Charging Infrastructure Gaps

Electric vehicle charging demand is running far ahead of infrastructure deployment, Jalopnik writes, citing ChargePoint data. The U.S.-based EV charging provider saw a 34 percent increase in charging sessions globally last year, more than double the 16 percent growth in new ports. ChargePoint CEO Rick Wilmer said charging infrastructure isn't keeping up with driving demand, noting that session volume rose by more than a third despite a much smaller increase in vehicles on the road. Jalopnik notes that the company supplies hardware and software to automakers including Mercedes-Benz, Toyota, Ford, General Motors, Hyundai, and Volvo.

Porsche's Profit Pivot

Porsche CEO Michael Leiters is set to unveil a strategy to revive the struggling sports-car maker and restore investor confidence, Jalopnik reports. The company's shares have lost nearly half their value since its September 2022 IPO, trading around €43. Weaker demand in China, a thinner product lineup, and costly delays to new models have hit the brand. Leiters plans to make Porsche smaller but more profitable by focusing on higher-volume models like the Macan and Cayenne SUVs alongside lower-volume, higher-margin vehicles built around the 911. The strategy depends on cutting costs and accelerating new product launches.

Lucid Slows Production

Lucid's third-quarter deliveries missed Wall Street estimates, with the luxury EV maker cutting production from the prior quarter and selling from inventory as part of a cost-cutting overhaul, Jalopnik writes. Citing Reuters, Jalopnik reports Lucid delivered 3,806 vehicles in the quarter ended September 30, below the average analyst estimate of 4,687. It built 2,954 vehicles, compared with the 3,709 analysts expected. Deliveries exceeded production by 852 vehicles as Lucid turned unsold cars into sales, a move that suggests inventory concerns. Jalopnik notes that while this isn't yet a crisis, continued inventory buildup could become a problem.

• ChargePoint
• EV charging
• Lucid
• oil prices
• Porsche
• Strait of Hormuz