Mercedes-Benz doubles EV sales in 2Q

Tesla (TSLA) Model Y registrations surging in U.S. says Kelly Blue Book

Kelly Blue Book, one of the most trusted automotive valuation and research companies, released the results of a study Wednesday showing that registrations for the Model Y, Teslas (NASDAQ: TSLA) least expensive SUV, grew by 103% between January and May. The Model Y currently starts at... More

Tesla (TSLA) in talks to build factory in India

According to reports buy the Times of India, Thursday, Tesla (NASDAQ: TSLA) is discussing an investment proposal with the Indian government to set up a factory with an annual capacity to produce about half a million electric vehicles.

According to the report, the vehicles will have a starting price of 2 million rupees... More

Tesla (TSLA) Model 3 tax credits likely reduced after Dec. 31

According to information posted on Tesla's (NASDAQ: TSLA) website on Tuesday evening, the federal tax credits of $7,500 for Tesla's Model 3 electric vehicles are expected to decrease after December 31.

The move comes as the U.S. government prepares to implement stricter regulations on batteries next year, with the aim of promoting domestic production of this essential... More

Audi in talks to acquire SAIC's EV platform

According 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

Goldman 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

Nasdaq 100 rebalance will benefit these 7 stocks - Wells Fargo

Wells Fargo analyst Christopher Harvey reflected on the upcoming Nasdaq 100 (NDX) Special Rebalance that is taking place on Friday, July 21.

A Special Rebalance is usually conducted to address overconcentration in the index by redistributing the weights. This particular move is focused on reducing concentration risk and reducing the dominance of the Big Seven, namely Microsoft (NASDAQ:... More

Morgan Stanley remains bullish on Nio (NIO) as rising volume expectations boost shares

Morgan Stanley reiterated an Overweight rating and a $12.00 price target on Nio Inc. (NYSE: NIO) after shares of the Chinese automaker gained 7.9% Monday night on rising volume expectations.

The companys June sales topped 10k units with a strong sales ramp near the end of the month, up... More

Goldman Sachs Starts XPeng (XPEV) at Buy, 'Compelling new model with high battery price elasticity'

(Updated - July 11, 2023 10:23 AM EDT)

Goldman Sachs analyst Tina Hou initiates coverage on XPeng (NYSE: XPEV) with a Buy rating, PT $18.10.

The analyst comments "We initiate XPeng at Buy with 12m DCF-based TPs of US$18.1/HK$70.0 for ADR/H-share, with 28%/28% upside potential (vs. 9% upside for our China Autos coverage). In the near-term, we expect the companys vehicle delivery... More

Nasdaq-100 Special Rebalance as the Pendulum Has Swung Too Far - Wells Fargo

Wells Fargo analyst Christopher Harvey on the announced Nasdaq-100 special rebalancing: "The upcoming NDX rebalance is reducing concentration risk but creating uber-cap selling pressure. With uber-caps overbought, near-term liquidity demands will likely weigh on the group. In 2011, down-sized names lagged by 2-3% between announcement and event. Our Index Strategists estimate... More

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XPeng (XPEV) PT Raised to $18 at Credit Suisse

Credit Suisse analyst Bin Wang raised the price target on XPeng (NYSE: XPEV) to $18.00 (from $14.50) while maintaining a Outperform rating.... More

Li Auto (LI) PT Raised to $48 at Credit Suisse

Credit Suisse analyst Bin Wang raised the price target on Li Auto (NASDAQ: LI) to $48.00 (from $38.00) while maintaining a Outperform rating.... More

GM cuts price of Cadillac Lyriq electric vehicle in China

Investing.com -- General Motors (NYSE: GM) has slashed the price in China of its Cadillac Lyriq luxury crossover model, in a sign of intensifying competition in the country's massive automotive market.

According to posts on GM's website in China cited... More

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Meta Platforms, Icahn Enterprises, Fisker rise premarket; FMC falls

Investing.com -- U.S. futures traded largely flat Monday, at the start of a week that includes the release of key inflation data. which could guide the Federal Reserve with its monetary policy, as well as the start of the new quarterly earnings season.

Here are some of the biggest... More

Tesla (TSLA) gets ninth price target hike since June deliveries

Another day... another price target hike for Tesla (NASDAQ: TSLA). Since its June delivery report last weekend, nine Wall Street firms have raised their price target on the EV giant. Today it was Jefferies' analyst Philippe Houchois's turn.

The analyst lifted his price... More

U.S. listings of Chinese stocks edge lower after June CPI data

Investing.com -- U.S.-listed shares in Chinese companies slipped in premarket trading on Monday, as concerns around the health of the world's second-biggest economy mount following weaker than anticipated inflation data.

Online retailers JD.com (NASDAQ: JD) and PDD Holdings (NASDAQ: PDD), as well as web services firm Baidu... More

Tesla, Ford, GM report hefty deliveries; shareholders vs. Rivian: This week in EVs

Investing.com -- Here is your weekly Pro Recap of the past week's biggest headlines in the electric vehicle space: EV delivery numbers from Tesla, Ford, and more; GM apprehensive on EPA's emissions crunch; and a lawsuit against Rivian.

Get EV news like this in real time with InvestingPro.

Several automotive companies issued their 2Q production and delivery numbers last week.

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Tesla (TSLA) PT Raised to $265 at Jefferies, 'Modest upgrades to our 2023 estimates'

(Updated - July 10, 2023 4:33 AM EDT)

Jefferies analyst Philippe Houchois raised the price target on Tesla (NASDAQ: TSLA) to $265.00 (from $185.00) while maintaining a Hold rating.

The analyst comments "We join a consensus view that Q2 will be a trough in auto gross margin.... More

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Tesla (TSLA) to offer cash bonus to new buyers of its EVs in China

On Friday, electric vehicle giant Tesla (NASDAQ: TSLA) announced that new buyers of its top-selling electric vehicles in China will receive a cash bonus of nearly $500 if they are referred by an existing owner.

The move, which was announced on its Weibo account,... More

Tesla laying off some workers at Shanghai, China plant - Bloomberg

Investing.com -- Tesla, Inc. (NASDAQ: TSLA) is laying off some electric vehicle battery workers at its plant in Shanghai, according to a Bloomberg News report citing unnamed people familiar with the matter.

The report noted that it was not yet... More

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Tesla (TSLA) picks up two more Wall Street price target hikes

Wall Street analysts continue to hike their price targets on Tesla (NASDAQ: TSLA) following the EV giant's better-than-expected June delivery report and as the stock continues to power higher. In the last 24 hours, two more analysts hiked their price targets.

On Sunday, Tesla announced that in the second quarter, they produced nearly 480,000 vehicles and delivered over 466,000 vehicles. This beat the consensus of 448,350 deliveries.

Mizuho analyst Vijay Rakesh's... More

Tesla, Levi Strauss fall premarket; Meta, Alibaba and Rivian rise

Investing.com -- U.S. futures traded largely unchanged Friday, with investors cautious ahead of the release of the widely watched monthly official jobs report, which could provide more clues as to the Federal Reserve's intentions at its next meeting later this month.

Here are some of the biggest premarket U.S. stock movers... More

Tesla rolls out customer referral incentive globally as EV price war heats up

By Chavi Mehta

(Reuters) -Electric-vehicle maker Tesla rolled out a new program globally allowing buyers to get extra incentives through referrals from existing customers, a strategy long used by traditional automakers to boost sales.

The incentive, which Tesla dubbed as "Refer and Earn" on its websites, is equivalent to $500 in cashback for buyers in the U.S. who purchase the Model 3 or Model Y. The U.S. incentives also include three months of its Full Self-Driving feature.

The program was rolled out in Tesla's largest markets, including the United States, China, Germany, France, Canada, Mexico, Hong Kong... More

BOCOM Int'l Downgrades XPeng (H-Shares) (9868:HK) (XPEV) to Sell, 'Market view on G6 too rosy'

(Updated - July 7, 2023 5:58 AM EDT)

BOCOM Int'l analyst Angus Chan downgraded XPeng (H-Shares) (9868:HK) (NYSE: XPEV) from Neutal to Sell with a price target of HK$39.30.

The analyst comments "During our recent site visit in Shanghai, we visited XPengs stores and... More

BOCOM Int'l Downgrades XPeng (XPEV) to Sell, 'Market view on G6 too rosy'

(Updated - July 7, 2023 5:57 AM EDT)

BOCOM Int'l analyst Angus Chan downgraded XPeng (NYSE: XPEV) from Neutal to Sell with a price target of $10.50.

The analyst comments "During our recent site visit in Shanghai, we visited XPengs stores and learned about orders for the latest model G6. Overall, from... More

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Tesla offers cash rebate on top models in China

(Corrects range of price cuts in Japan in last paragraph to between 3% and 4%, not 3% and $5)

BEIJING (Reuters) - Tesla on Friday said it would offer new buyers of its top-selling electric vehicles in China a cash bonus equivalent to almost $500 if they have a referral from an existing owner, deepening a price war in the world's largest market for EVs.

Tesla said it would offer new buyers of its Model Y and Model 3 vehicles a cash rebate of 3,500 yuan ($483) if they could cite a referral from an existing owner.

Tesla also said new buyers would... More

Tesla starts to lay off some workers at China factory - Bloomberg News

(Reuters) - Electric car maker Tesla Inc is laying off some battery production workers at its Shanghai plant, Bloomberg News reported on Friday, citing people familiar with the matter.

It was not clear how many workers may be let go, or the specific reasons behind the layoffs,... More