Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against Catalent, Tesla, DLocal, and Cognyte and Encourages Investors to Contact the Firm
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Data suggests a very strong Q1 for Tesla (TSLA) in China
March 21, 2023 9:05 AM EDTBrokerage data surrounding Tesla (NASDAQ: TSLA) shows that the EV company is poised to report one of its best quarters in China.
According to data from China Merchants Bank International, the U.S. EV maker's retail sales in China totaled 106,915 units from Jan. 1 to March 19, or 1,371 units per day on... More
Slowing demand has BYD reducing shifts at China EV plants
March 21, 2023 8:21 AM EDTReuters reports Tuesday, citing people with knowledge of the matter, that BYD has reduced shifts at two auto assembly plants in China.
According to three of the sources and an internal memo sent earlier this month, BYD, which outsells Tesla (NYSE: TSLA) in China, asked some of the workers at its Xian plant, its biggest manufacturing hub, to work only four days a... More
Polestar (PSNY) launches electric SUV in China with $29k price cut
March 20, 2023 2:52 PM EDTSwedish electric automaker, Polestar (NASDAQ: PSNY) officially launched their Polestar 3 electric SUV in China on Friday. However, the EV maker has slashed its starting price by roughly $29,000.
When the Polestar 3 was first advertised to Chinese... More
Prepare for lower margins as Tesla (TSLA) price cuts become a 'feature' of EV market - Morgan Stanley
March 20, 2023 11:51 AM EDTMorgan Stanley reiterated an Overweight rating and $220.00 price target on Tesla (NASDAQ: TSLA) as analyst Adam Jonas believes that investors should anticipate further price cuts in EVs.
Jonas wrote in a note, We believe EV price cuts are not a fad, but a trend. While subject to volatility, investors should anticipate further price cuts in EVs with cost-leader Tesla setting the tone.
One of the reasons Jonas... More
Morgan Stanley cuts forecasts on China EVs reflecting headwinds
March 20, 2023 8:16 AM EDTMorgan Stanley has decided to cut earnings forecasts and price targets on Chinese electric vehicle companys, Nio Inc. (NYSE: NIO), Li Auto (NASDAQ: LI), XPeng (NYSE: XPEV) and BYD after Teslas (NASDAQ: TSLA) price cuts in the country triggered broader price competition. The price cuts, along with weaker YTD sales post stimulus, has pressured the Chinese EV segments 1H23 sales margin.
Carmakers continue to join the price competition by either lowering the MSRP directly,... More
