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Ev Makers

All articles tagged with #ev makers

business2 years ago

EV Sales Soar: Nio, Li Auto, and Tesla Compete for Record-Breaking Deliveries

Nio's stock rises for the fifth consecutive day as the China-based electric-vehicle maker reports a 75% increase in deliveries for Q3, driven by the launch of its new EC6 coupe SUV. Fellow EV makers Li Auto and XPeng also report significant increases in deliveries. Nio delivered 15,641 vehicles in September, up 43.8% from a year ago, while Li Auto delivered a monthly record of 36,060 vehicles, a 212.7% increase. XPeng delivered 15,310 vehicles, up 81% from last year. BYD Co. reported deliveries of 144,179 battery-electric vehicles, up 50% from a year ago.

via MarketWatch|
#business#deliveries#electric-vehicles
business2 years ago

"Chinese EV Manufacturers Slash Prices to Achieve Ambitious Sales Targets"

Chinese electric vehicle (EV) makers are slashing prices in pursuit of ambitious sales targets for 2023, but analysts believe these cuts may be the last for a while due to strong sales and thin profit margins. Sales of pure electric and plug-in hybrid EVs in China rose 30.7% YoY in July, with top companies like BYD, Nio, and Li Auto setting new monthly sales records. While the low-price strategy has boosted deliveries, further significant price reductions are unlikely as customers are already buying. A fierce price war earlier this year failed to drive sales, and low profit margins make it difficult for most Chinese EV start-ups to turn a profit.

via South China Morning Post|
#business#china#competition
finance2 years ago

Stock Market Update: Tesla Soars, Rivian Surges, and EV Stocks Rally

The U.S. stock market showed mixed performance as the Dow slipped, the Nasdaq Composite rose, and the S&P 500 remained flat. Electric vehicle (EV) makers, including Tesla, Rivian Automotive, and Nio, experienced gains. Asian indexes saw strong gains, driven by optimism surrounding Treasury Secretary Janet Yellen's upcoming trip to China. Bond yields eased, while Brent crude oil prices edged up due to Russia's plan to cut oil exports in August and Saudi Arabia's extension of supply cuts. Bitcoin remained above $30,000, and the Securities and Exchange Commission expressed concerns about the adequacy of applications for spot bitcoin exchange-traded funds.

via The Wall Street Journal|
#ev-makers#federal-reserve#finance
stock-market2 years ago

"Tesla Leads EV Stocks Rally as Stock Market News Shows Mixed Futures"

Fidelity National Information Services (FIS) shares rose 8% as private equity firms consider buying the company's majority ownership in Worldpay for over $15 billion. Tesla's stock jumped 6% after reporting an 83% YoY increase in June deliveries, surpassing expectations. Nio shares were up 7% due to a 74% sequential improvement in June deliveries, while XPeng stock rose over 10% with a 15% MoM growth in June deliveries. AstraZeneca shares plunged 7% after preliminary results for a lung cancer treatment trial did not meet the prespecified statistical significance level. Bright Health Group shares slumped 10% after agreeing to sell its California Medicare Advantage business to Molina Healthcare for $600 million.

via Seeking Alpha|
#astrazeneca#bright-health-group#ev-makers