Morgan Stanley cuts forecasts on China EVs reflecting headwinds

Baidu’s (BIDU) Apollo gains approval to test autonomous vehicles in Shanghai

Apollo, Baidus (NASDAQ: BIDU) smart car business, announced Wednesday that the Chinese tech giant has received approval to be among the first companies to test fully autonomous vehicles in Shanghai.

Apollo currently operates driverless robotaxi services in specially designated areas of... More

VW aiming for 3M small EVs produced in Spain between 2025-2030

Wayne Griffiths, the chairman of Volkswagen's Spanish unit SEAT, said on Wednesday that the German carmaker plans to produce 3 million small electric vehicles at its two plants in Spain between 2025 and 2030.

Griffiths said in a news conference that SEAT aims to assemble 500,000 electric cars a year in the... More

Nio (NIO) surges as CFO is 'very confident' in 250k vehicle sales target

Shares of NIO Inc. (NYSE: NIO) are up 2.80% in pre-market trading on Wednesday following comments by CFO Steven Feng where he said the company is very confident of meeting its target of doubling sales to 250,000 electric vehicles this year. The comments, made during a Bloomberg interview, provoked a surge in the companys Hong Kong shares.

We are very confident to achieve our sales target in 2023, Feng... More

Data suggests a very strong Q1 for Tesla (TSLA) in China

Brokerage 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

Reuters 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

Swedish 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

Morgan 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

Citi predicts challenges for XPeng (XPEV) in 2023; reiterates Sell

Citi reiterated a Sell rating on XPeng (NYSE: XPEV) and cut the price target on the stock to $7.21 (From $8.92) after adjusting estimates to reflect the electric vehicle makers 4Q22 earnings results.

Citi analyst, Jeff Chung wrote in a note, We believe the companys... More

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XPeng (XPEV) PT Raised to $12.50 at Morgan Stanley

Morgan Stanley analyst Tim Hsiao raised the price target on XPeng (NYSE: XPEV) to $12.50 (from $12.00) while maintaining a Overweight rating.... More

Li Auto (LI) PT Raised to $30 at Morgan Stanley

Morgan Stanley analyst Tim Hsiao raised the price target on Li Auto (NASDAQ: LI) to $30.00 (from $23.00) while maintaining a Overweight rating.... More

NIO (NIO) PT Lowered to $12 at Morgan Stanley

Morgan Stanley analyst Tim Hsiao lowered the price target on NIO (NYSE: NIO) to $12.00 (from $16.10) while maintaining a Overweight rating.... More

XPeng (XPEV) PT Lowered to $7.21 at Citi

Citi analyst Jeff Chung lowered the price target on XPeng (NYSE: XPEV) to $7.21 (from $8.92) while maintaining a Sell rating.

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Midday movers: First Republic, FedEx, Newmont and more

By Liz Moyer

Investing.com -- Stocks were under pressure again as investors worried about the state of the banking system given dramatic events this week. Here are the midday movers for March 17.

XPeng (XPEV) reports 4Q22 earnings miss; expects decreased deliveries in 1Q23

Shares of XPeng (NYSE: XPEV) are down 0.14% to $8.19 per share in pre-market trading Friday following the electric vehicle companys 4Q earnings miss.

The automaker reported 4Q EPS of (RMB2.57), RMB0.47 worse than the analyst estimate of (RMB2.10). Revenue for the quarter came in at RMB5.14 billion versus the consensus estimate of RMB5.59 billion, representing a decrease of 39.9% from the... More

XPeng Inc. (XPEV) Misses Q4 EPS, Revenue

XPeng Inc. (NYSE: XPEV) reported Q4 EPS of (RMB2.57), RMB0.47 worse than the analyst estimate of (RMB2.10). Revenue for the quarter came in at RMB5.14 billion versus the consensus estimate of RMB5.59 billion.

Management Commentary

We have comprehensively reviewed our strategy and took decisive... More

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XPeng Inc. (XPEV) March 8 straddle priced for a move of 10% into quarter results

XPeng Inc. (NYSE: XPEV) March 8 straddle priced for a move of 10% into the expected release of quarter results before the bell on March 17.