Wall Street Breakfast MP surges on Apple supply agreement
Jul 16, 2025
MP Materials soars to new heights after securing a $500 million supply deal with Apple, signaling a transformative shift in the rare earth materials market. XPeng is rethinking its 2025 hiring strategy with a focus on AI advancements. Meanwhile, Stellantis pulls the plug on its hydrogen fuel cell program due to high costs and infrastructure challenges. The podcast also touches on broader market trends, including insights from major stock movements and upcoming developments in the tech and automotive industries.
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MP Secures China-Free Rare Earths
- MP Materials' deal with Apple secures rare earth supply independent of China.
- This $500 million agreement includes recycling rare earth elements and production in Texas and California.
XPeng Boosts AI and Hiring
- XPeng increased hiring plans for 2025 to 8,000 new positions, up from 6,000.
- The focus includes large AI models, smart driving, and recruiting talent for future growth.
Stellantis Halts Hydrogen Development
- Stellantis is halting its hydrogen fuel cell program due to infrastructure and cost challenges.
- The company does not expect hydrogen vehicles' adoption by decade's end and will redirect R&D elsewhere.