XPeng (XPEV) chooses ACCESS as vehicle infotainment provider

XPeng Inc. (XPEV) call put ratio 4.4 calls to 1 put with focus on June weekly calls

June 21, 2023 10:20 AM EDT

XPeng Inc. (NYSE: XPEV) 30-day option implied volatility is at 71; compared to its 52-week range of 67 to 127. Call put ratio 4.4 calls to 1 put with focus on June weekly calls.

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U.S. stocks are falling as Powell tells Congress inflation fight is ongoing

June 21, 2023 10:11 AM EDT

Investing.com -- U.S. stocks were falling as investors prepared to hear Federal Reserve Chair Jerome Powell testify in Congress that the central bank has more work to do to tame inflation.

At 9:52 ET (13:52 GMT), the Dow Jones Industrial Average was down 132 points or 0.4%, while the S&P 500 was down 0.4% and the NASDAQ Composite slipped 0.7%.

In prepared remarks, Powell said the Fed still had more work to do to quash inflation.... More

XPeng Inc. (XPEV) option IV near low end of range

June 21, 2023 8:37 AM EDT

XPeng Inc. (NYSE: XPEV) 30-day option implied volatility is at 72; compared to its 52-week range of 67 to 127.

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EVs gain as China extends tax breaks

June 21, 2023 8:25 AM EDT

Shares of Chinese electric vehicle companies NIO Inc (NYSE: NIO), Li Auto (NASDAQ: LI) and XPeng (NYSE: XPEV) are up by nearly 3% in pre-market trading on Wednesday after China extended a tax exemption policy for new energy vehicles (NEV).

According to the policy, jointly... More

FedEx, Winnebago fall premarket; Tesla, Spotify rise

June 21, 2023 8:05 AM EDT

Investing.com -- Stocks in focus in premarket trade on Wednesday, June 21st. Please refresh for updates.

FedEx (NYSE: FDX) stock fell 2.2% after the delivery giant issued a profit warning, saying ongoing "demand challenges" prompted its plans to ground 29 more aircraft in the fiscal year that... More

Tesla, Chinese EV stocks gain as China extends tax breaks through 2027

June 21, 2023 6:21 AM EDT

Chinese EV stocks are higher in pre-open trading Wednesday after China said it would extend tax breaks on clean energy cars purchases through 2027:

Li Auto Inc. (NASDAQ: LI) +3.5%NIO Inc. (NYSE: NIO) +2%Tesla (NASDAQ: TSLA) +1.5% (was downgraded at Barclays today)XPeng Inc. (NYSE: XPEV) +3%
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China unveils $72 billion tax break for EVs, other green cars to spur demand

June 20, 2023 10:16 PM EDT

By Qiaoyi Li and Liz Lee

BEIJING/SHANGHAI (Reuters) -China unveiled on Wednesday a 520 billion yuan ($72.3 billion) package of tax breaks over four years for electric vehicles (EVs) and other green cars, its biggest yet for the industry as it seeks to boost slower auto sales growth.

Weakening sales growth in the world's biggest auto market has raised concern over China's economic growth and while financial support was widely expected after an earlier government pledge to promote the industry, shares in major automakers jumped after the details were released.

"The extension by another four years beat market... More

Bernstein optimistic as China EV sales show resilience

June 20, 2023 9:28 AM EDT

Bernstein released an analysis of the recovering Chinese auto industry following the COVID pandemic which led to extended lockdowns and supply chain interruptions and found that the electric vehicle industry, as a whole, remains resilient.

Analyst Eunice Lee wrote in a note, We are turning more positive on China's auto cycle and hold a cautiously optimistic view of the sector. The slow recovery from the beginning of the... More

Hyundai increases annual EV investment to $28B

June 20, 2023 8:26 AM EDT

Hyundai Motor announced Tuesday that the Korean multi-national automaker plans to raise its average annual investment in electrification by nearly two thirds to $28 billion over the next decade to restructure its business in China and boost electric vehicle (EV) sales.

Hyundai CEO Jaehoon Chang told investors that China, the world's largest vehicle market, had been very profitable up until 2016 but it was now the biggest risk as the automaker had lost market share to... More