U.S. listings of Chinese stocks edge lower after June CPI data
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Audi in talks to acquire SAIC's EV platform
July 12, 2023 9:50 AM EDTAccording to reports by Reuters Wednesday, citing people familiar with the matter, Germany's Audi is in talks with SAIC Motor Corpt to purchase an electric vehicle platform.
The decision highlights the intense competition in the world's largest auto market as legacy and Western brands grapple with the rising demand for EVs. With Audi's EV sales significantly lagging behind Tesla and domestic competitors... More
Goldman Sachs starts Xpeng (XPEV) at Buy, expects rise in margins and overseas volumes
July 11, 2023 11:03 AM EDTGoldman Sachs initiated coverage on Chinese electric automaker, XPeng (NYSE: XPEV) with a Buy rating and a 12-month price target of $18.10 as analyst Tina Hou expects Chinese auto OEMs overseas sales volume to rise from 2.7mn to 8.5mn in 2022-2030E, driven by leading technology and product competencies of Chinese EV models.
In the... More
Mercedes-Benz doubles EV sales in 2Q
July 11, 2023 9:48 AM EDTGerman luxury automaker, Mercedes-Benz released their second quarter sales results Tuesday, reporting a 6% rise in sales (to 515,700 vehicles) compared to the same time last year. According to Mercedes, Electric vehicles continued to be the main growth driver in the quarter, with passenger cars sales more than doubling (123%) to reach 56,300... More
