electricvehicleev
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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Nio Inc (NYSE: NIO) is pushing to the upside in premarket today after William Li – its chief executive was named “EV person of the year”. Why did Nio CEO win the title?Li was crowned at the 2024 TopGear.com Electric Awards on Monday. The news arrives shortly after Nio became the first electric vehicle firm to launch semi solid-state batteries for the mass market. According to Jack Rix – edit-in-chief of BBC Top Gear: Li has been signing deals all over China to use its battery swap tech as a standard on future cars, stamping his mark on EVs. Note that the company based out Shanghai, China is al...
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Tata Motors Limited (TATAMOTORS.NS), the multinational car manufacturer based in Mumbai, India, has had a rough weekend and Monday so far. Shares of Tata were down close to 9% today at the time of this article’s writing, and almost 100 Indian rupees (93,80 INR) since Friday morning – losing close to 10% of the total current share price. But why? Tata’s latest earnings announcedOn May 10, Tata Motors released their Q4 financial results for 2024. The earnings were largely within market expectations, and showed resilience during a challenging quarter, with revenue up 13% to ₹120.0K Cr for the ent...
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Rivian Automotive Inc (NASDAQ: RIVN) is slipping in extended hours on Tuesday even though it reported better-than-expected revenue for its first financial quarter. Why is Rivian stock down in after-hours?The stock is in the red partly because the EV firm did not raise its production guidance for 2024. $RIVN continues to see production to be capped at about 57,000 vehicles this year. It produced roughly the same number of vehicles last year. Still, RJ Scaringe – the chief executive of Rivian Automotive said in a press release today: Q1 set a strong foundation for remainder of the year as we foc...
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