electricvehicleev
Porsche AG (P911) share price is in deep trouble and the situation could worsen in the coming weeks as its electric vehicle (EV) business slows. The stock crashed to a low of €76 on Monday, its lowest swing since January 26th. It has plunged by over 36% from its highest point on record. Porsche’s China woesPorsche’s stock has imploded as the company has reported weak financial results. Its total sales crashed frm €10.09 billion in Q1’23 to over €9.0 billion in Q1’24. Its battery electric vehicles segment’s revenue tumbled from over €11.4 billion to over €5.7 billion in Q1’24. Porsche’s profits...
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Lilium N.V. (NASDAQ: LILM) is in focus this morning after announcing a $114 million financing. Details of $LILM financingInsiders and existing shareholders participated significantly in the announced financing, as per the press release on Friday. $LILM plans on using the net proceeds to fund operations and for general corporate purposes. The financing is another step towards the “first manned flight of the Lilium Jet targeted for late 2024”. The news arrives about a month before Lilium is scheduled to report its financial results for the first quarter. Consensus is for it to lose about 14 cent...
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The Tesla stock price is down more than $60, over a quarter of its share price at 28.5%, this year so far. Where the Magnificent Seven stock once seemed invincible, now dangers are everywhere. The disruptor has become disrupted. So, what’s going on currently to make Tesla watchers nervous? Tesla is burningThe most recent incident of Tesla’s occurred early on Monday evening when numerous social media sources reported that the company’s Fremont factory in California was on fire. Although the fire seemed to have been a minor one, and a minor incident in general, it was telling that Tesla themselv...
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It’s another bad week for Chinese electric vehicle companies like Li Auto (LI), XPeng (XPEV), Nio (NIO), and Lotus Technology (LOT) as signs show that the industry is deteriorating with no end in sight. Last week, the biggest news was the decision by Joe Biden to levy tariffs on Chinese companies in a bid to protect the domestic industry. Of course, these tariffs will likely not work out as most companies will simply move their manufacturing plants to Mexico. The European Commission is also considering additional tariffs for these companies, a move that will attract retaliation from Beijing. R...
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Shares of Tesla Inc. (NASDAQ:TSLA) are currently trading near $178, reflecting a significant dip from its all-time high of over $400. However, this price is a recovery from its January 2023 low of around $100. While Tesla’s stock performance has been a roller coaster over the past few years, recent earnings and news has made it even more volatile. On Monday, Indonesia’s coordinating minister of investment announced that Elon Musk is considering an offer to build an electric vehicle (EV) battery plant in Indonesia. This potential investment aligns with Indonesia’s strategic push to leverage its...
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Nikola (NASDAQ: NKLA) stock price continued slumping this month as concerns about its cash flow and overall demand. It has crashed by over 18% in the past 30 days and is hovering at its all-time low. It is down by over 99% from its al–time high. Demand risks remainNikola, a leader in the hydrogen trucks industry, has made a lot of progress as I wrote in my last article here. It has moved from R&D to full production and deliveries. In its most recent results, the company said that it had manufactured and sold 75 trucks. Nikola also noted that it was seeing strong demand from its customers. Howe...
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Nio (NYSE: NIO) stock price has crashed hard this year as the electric vehicle industry has become a toxic wasteland. It has tumbled by over 41.2% this year and by over 92% from its highest level in 2021. Other Chinese EV companies like Li Auto and XPeng have also tumbled. Nio faces many challenges aheadNio’s stock price has crashed hard in the past few years as the industry has faced numerous challenges. The biggest issue, in my view, is that the EV industry is highly saturated with over 100 companies seeking to gain share. As a result, most firms, including Nio, have been forced to slash veh...
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Nio Inc (NYSE: NIO) is pushing further to the upside in premarket on Wednesday after a JPMorgan analyst removed his bear rating from shares of the electric vehicles company. Nio stock receives an upgradeNick Lai expects battery as a service (BAAS) strategy of the EV firm to be a meaningful tailwind for its share price. He upgraded Nio stock this morning to “neutral” and said: By successfully lifting the take rate, NIO broadens its TAM and lowers entry price point for mass BEV segment of below RMB 300K for two important volume models – the ES6 and ET5 (accounting for 75% of sales in 2023. Nio I...
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Canoo Inc (NASDAQ: GOEV) is trading down in extended hours on Tuesday after reporting disappointing financial results for its first quarter. Canoo reiterates guidance for 2024Investors are concerned because the future guidance failed to impress as well. $GOEV continues to see its annual revenue coming in the range of $50 million and $100 million in 2024. Cash outflow, the electric vehicles company added, will be capped at $75 million per quarter. Tony Aquila – the chief executive of Canoo Inc said in a press release today: We continue to execute on our strategy of acquiring deeply discounted l...
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Tesla Inc., under the leadership of CEO Elon Musk, has reportedly canceled the nearly completed production of its anticipated low-cost electric vehicle (EV), the Model 2, according to a report by The Information released on Monday. This decision comes as a surprise as the vehicle was nearing the end of its development phase. Tesla’s engineering challenges and strategic pivotSources close to the development team revealed that Tesla’s engineers were confident in resolving the issues that had arisen during the vehicle’s development. However, Musk made a strategic decision to suspend the Model 2’s...
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