Polestar (PSNY) launches electric SUV in China with $29k price cut
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Baidu’s (BIDU) Apollo gains approval to test autonomous vehicles in Shanghai
March 22, 2023 2:00 PM EDTApollo, 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
March 22, 2023 8:48 AM EDTWayne 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
Morgan Stanley remains bullish on Rivian (RIVN) as investor negativity and frustration surround the stock
March 22, 2023 7:42 AM EDTMorgan Stanley reiterated an Overweight rating and $26.00 price target on Rivian Automotive (NASDAQ: RIVN) as the companys stock trades just below its cash value.
Analyst Adam Jonas wrote in a note, When you see an auto stock trading at or near a negative enterprise value, it may be tempting to open up... More
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
Active options: TSLA AAPL CS NVDA AMZN AMD BAC MSFT FRC META
March 20, 2023 2:29 PM EDTActive options: TSLA AAPL CS NVDA AMZN AMD BAC MSFT FRC META
... MorePrepare 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
Tesla (TSLA) price cuts 'not a fad, but a trend' - Morgan Stanley
March 20, 2023 11:17 AM EDTMorgan Stanley analyst Adam Jonas reiterated an Overweight rating and $220.00 price target on Tesla (NASDAQ: TSLA), saying price cuts are "rational" and "not a fad, but a trend."
"We believe EV price cuts are not a fad, but a trend," Jonas commented. "While subject to... More
Active options: TSLA CS NVDA AMD AMZN MSFT AAPL BAC LAZR
March 20, 2023 9:56 AM EDTActive options: TSLA CS NVDA AMD AMZN MSFT AAPL BAC LAZR
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March 20, 2023 9:55 AM EDTActive options: TSLA CS NVDA AMD AMZN MSFT AAPL BAC LAZR
... MoreMorgan 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
Active options: TSLA NVDA AAPL MSFT AMD AMZN BAC GOOGL META
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