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☆ Famed short-seller Jim Chanos says he's still betting against Tesla as the EV maker 'wrestles' with margin pressures and increased competition
▼ + stars: | 2023-01-31 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +3 min

Jim Chanos said he's still shorting Tesla as the EV maker faces margin pressures and increased competition. He expects the Elon Musk-run carmaker's margins to fall as its China market weakens. Meanwhile, Tesla faces competition from Chinese automakers including Nio and BYD who are taking massive market share. And China right now is their weakest market," Chanos said in a CNBC interview on Monday. According to Chanos, Tesla's challengers include Chinese automakers like Nio, Xpend, and BYD.

☆ Jim Chanos says he's still shorting Tesla as EV competition increases, profit margin peaks
▼ + stars: | 2023-01-30 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Famed short seller Jim Chanos said Monday he's still betting against Tesla as competition in the electric vehicle market ramps up. However, China is now the weakest market for Tesla, Chanos said. "It trades at a premium … actually trades at a premium in terms of its multiples to Ferrari and Porsche." Chanos said Tesla has a major footprint in China, generating a significant amount of profits in the developing country. "Tesla trades at a premium to those companies who are growing faster than they are in China.

Separately, the Commerce Department said gross domestic product (GDP) increased at an annualized rate of 2.9% in the fourth quarter, above expectations of a 2.6% rise. "It's clear the economy remains relatively strong in the face of the Fed's efforts, suggesting they're succeeding." Growth stocks have been on a winning spree in January, with the S&P 500 Growth index (.IGX) recouping more than half of the losses logged last month. Keeping a lid on gains for Dow e-minis was chemical firm Dow Inc (DOW.N) that slid 3.3% after it missed Wall Street estimates for quarterly profit, hurt by higher energy costs, weaker demand and supply chain disruptions. ET, Dow e-minis were up 81 points, or 0.24%, S&P 500 e-minis were up 22.25 points, or 0.55%, and Nasdaq 100 e-minis were up 121.75 points, or 1.03%.

☆ Musk says China rivals 'work hardest, smartest'
▼ + stars: | 2023-01-26 | by ( ) www.reuters.com time to read: +2 min

Elon Musk sees the toughest competition for Tesla in China, home of the company he expects "most likely to be second" in electric vehicles. Asked about Tesla's competition, Musk responded that he respected car companies in China, calling it the most competitive market in the world. "They work the hardest and they work the smartest," he said. Musk has praised Chinese workers and competitors before. He also said Chinese workers had been "burning the 3 a.m. oil" to keep Tesla's factories running during COVID lockdowns last year.

☆ Elon Musk says a Chinese automaker will likely be second to Tesla: 'They work the smartest'
▼ + stars: | 2023-01-26 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

Elon Musk said that a Chinese automaker is likely to be the closest competitor to Tesla , while stressing the company is "winning in China" right now. Tesla has a number of challengers in China in the electric vehicle space, including a slew of start-ups such as Nio , Xpeng and Li Auto . "And so, if I were to guess ... probably some company out of China is the most likely to be second to Tesla," Musk said. Musk said that the "Tesla China team is winning" in the country without clarifying further. Tesla's Model 3 was the fifth best selling new energy vehicle car in China in 2022, according to the China Passenger Car Association.

☆ Chinese EV stocks rise as Elon Musk says he sees Tesla's biggest rival coming from China after the company posts record results
▼ + stars: | 2023-01-26 | by ( Carla Mozée | ) www.businessinsider.com time to read: +2 min

Shares of Chinese EV makers rose Thursday after Tesla reported record quarterly profit. Tesla CEO Elon Musk said he believes his company's biggest rival could come out of China. Alongside a rally in Tesla shares, Nio stock gained 3.2%, Li Auto charged up 7%, XPeng advanced by 3.4%, and BYD gained 4.8%. Tesla shares climbed by more than 10% during Thursday's trading session to surpass $161 a share. Wedbush analyst Dan Ives raised his Tesla price target to $200 from $175 and said Tesla has a beatable vehicle-delivery target of 1.8 million in 2023.

☆ China doesn't need to sell a single car in the US to dominate the American electric car market
▼ + stars: | 2023-01-26 | by ( Alexa St. John | ) www.businessinsider.com time to read: +4 min

Chinese carmakers have a massive, domestic EV battery supply chain to lean on. That's a huge advantage for those companies in the global market. And given the number of Chinese buyers, those sales made up about two-thirds of the global EV market. EV companies like Geely, Xpeng, Li Auto, NIO, and more are gaining traction. Even if others catch up, China will continue to dominate global EV sales this year, according to GlobalData.

☆ Tesla will 'keep blowing our minds' despite Elon Musk's distractions, shareholder Tencent says
▼ + stars: | 2023-01-20 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

Tencent, known as one of the world's largest gaming and social media firms, invested in Tesla in 2017, taking a 5% stake for around $1.78 billion. Tesla will "keep blowing our minds" with technology even while CEO Elon Musk is distracted with Twitter, according to the executive to who led an investment from Chinese technology giant Tencent into the U.S. electric carmaker. Tencent, known as one of the world's largest gaming and social media firms, invested in Tesla in 2017, taking a 5% stake for around $1.78 billion. Since then, Tesla has become one of the world's largest electric carmakers. "I would count on them [Tesla] to keep blowing our minds with what they do with technology," Wallerstein said.

☆ Tesla stock could rally 35% as recent price cuts have already been a huge success in China, Wedbush's Dan Ives says
▼ + stars: | 2023-01-20 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Tesla could rally 35% this year as its recent price cuts have already been a success in China, Wedbush's Dan Ives said. In a Wedbush survey, 70% of consumers in China said they were positively influenced by recent price cuts to purchase a Tesla. Plus, nearly 70% of those surveyed said they've been positively influenced to purchase a Tesla due to the recent price cuts. "Tesla's recent price cuts [are a] huge success story so far," Ives said in a note on Thursday. Last week, Ives said in a separate note that Tesla's price cuts were a sign the company is getting more aggressive as competition heats up in electric vehicles.

☆ Morgan Stanley says cheaper electric vehicles are coming — and names the global stocks set to benefit
▼ + stars: | 2023-01-18 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

As electric cars become increasingly popular, a new manufacturing technique that could make them more affordable is garnering interest, according to Morgan Stanley. Asian automakers are outsourcing this process which could benefit three leading parts suppliers, according to Morgan Stanley: The investment bank is overweight on Wencan, which it says has taken the lead in this sector. As a result, Morgan Stanley expects the Shanghai-listed buy-rated stock to rise by 18% to 78 Chinese Yuan ($11.5) over the next 12 months. Another Zhejiang-based car parts maker, Tuopu, is expected to "aggressively" expand into unibody manufacturing, the bank said. Morgan Stanley is similarly "equal-weight" on Xusheng , which recently won orders from BYD and has extensive know-how in aluminum casting.

☆ Want a Tesla alternative? Analysts and fund managers reveal their top EV stocks
▼ + stars: | 2023-01-16 | by ( Zavier Ong | ) www.cnbc.com time to read: +3 min

Now, a precipitous plunge in its share price in 2022 puts its value well under $400 billion. At the end of last week, the EV maker cut prices in the U.S. and throughout Europe in what's being viewed as an effort to boost sales volumes. But there have also been some self-inflicted pains too: the long-running Twitter saga ; Musk's massive sale of Tesla shares ; and a capacity expansion in the face of slowing demand. Tesla alternatives For Deutsche Bank, Chinese EV maker Nio is the only pure-play name among its top automotive picks for 2023. Nio shares ended Friday at $11.81, down over 60% over the last year.

Follow @KatrinaHamlin on TwitterloadingCONTEXT NEWSHong Kong-listed Apollo Future Mobility said on Jan. 12 that it had agreed to buy Chinese electric-car maker WM Motor Global for HK$15.9 billion ($2.02 billion). To fund the acquisition of its larger peer, Apollo will issue 28.8 billion new shares at HK$0.55 each. Apollo shares fell 8.6% and were trading at HK$0.23 by market close on Jan. 12. WM Motor Global filed for a Hong Kong initial public offering in May 2022, but the application lapsed in November. WM Motor Global’s owner, WM Motor Holdings, is the largest shareholder in Apollo Future Mobility, and WM Motor founder Freeman Shen sits on the latter’s board as co-chair.

☆ Hedge funds are aggressively buying Chinese stocks, betting on a deeper, but shorter Covid setback
▼ + stars: | 2023-01-12 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Since the start of November, hedge funds have been consistent net buyers of China equities for eight of the past 10 weeks, according to data from Morgan Stanley. After witnessing the massive rebound from the pandemic low in U.S. stocks, hedge funds are betting that the same scenario will play out in China as it tries to return to a pre-pandemic "normal" after ending most Zero Covid controls. Since November, 80% of hedge fund buying activity has come from hedge funds adding long positions in China, while 20% was from short covering, Morgan Stanley said. Investors getting in early on the trade are betting that China's economy will suffer a deeper — albeit shorter —setback. "Such a dramatic U-turn then implies deeper economic contraction in 4Q22 but also faster reopening and recovery in 2023."

☆ China passenger vehicle sales rise in Dec, Tesla sales slump 41% - data
▼ + stars: | 2023-01-10 | by ( ) www.reuters.com time to read: +3 min

He predicted that China's passenger vehicle sales were likely to remain largely flat or slightly up in 2023. CPCA said on Tuesday that China's passenger vehicle sales in December rose 2.4% from a year earlier to 2.19 million units. Tesla saw its December sales in China plunge 41% from a year earlier despite offering deep discounts. Most other EV makers in China are still loss making, including Nio (9866.HK), Xpeng (9868.HK) and Li Auto (2015.HK). CPCA expects sales of new energy cars, mainly EVs, to hit 8.5 million units in 2023, accounting for 36% of total new car sales.

☆ China’s reopening has gotten Wall Street excited. Here’s how the pros are playing it
▼ + stars: | 2023-01-10 | by ( Zavier Ong | ) www.cnbc.com time to read: +5 min

Over the past week, a host of Wall Street banks have turned increasingly bullish on the world's second-largest economy and have upgraded their outlook on Chinese stocks. Morgan Stanley expects China's GDP to grow by an "above-consensus" 5.4% in 2023, on the back of a "fast-tracked" reopening and more proactive policy easing. Meanwhile, UBS says Chinese stocks look increasingly attractive. How to play the reopening Against this backdrop, analysts have named a slew of both Chinese and global stocks they think will benefit most from China's reopening. Bank of America's domestic reopening beneficiaries include consumer stocks such as alcoholic beverage makers Kweichow Moutai and Tsingtao Brew , airline stocks including China Southern Airlines , as well as online travel platform Trip.com .

☆ India is learning to love electric vehicles — but they're not cars
▼ + stars: | 2023-01-09 | by ( Charmaine Jacob | ) www.cnbc.com time to read: +6 min

Electric vehicle charging stations from Tata Power can be found on 350 of the 600 highways in India. Puneet Vikram Singh, Nature And Concept Photographer, | Moment | Getty ImagesWhen most people think about electric vehicles, they think cars. From brands like Tesla and Rivian in the United States, to Nio and XPeng in China, global sales of electric vehicles have surged. But in India, two-wheel vehicles such as scooters, mopeds and motorbikes, dominate the market. The starting price of electric two-wheel vehicles can be as high as 160,000 rupees.

☆ Tesla cuts prices in China for second time in three months as demand slows
▼ + stars: | 2023-01-06 | by ( Laura He | ) edition.cnn.com time to read: +2 min

Hong Kong CNN —Tesla has slashed car prices in China for the second time in less than three months, in an effort to boost sales amidst slowing demand in the world’s largest car market. The electric vehicle maker cut prices for all versions of its China-made Model 3 and Model Y on Friday, according to its website. This is the second price cut since October 24, when Tesla (TSLA) reduced the prices of Model 3 and Model Y by as much as 9.4%. “Tesla’s price cuts are backed by innumerable engineering innovations,” said Grace Tao, Tesla’s vice president for external relations in China, on her Weibo account on Friday. Tesla’s price cuts come days after Beijing ended a 13-year-long subsidy for electric vehicle purchases on December 31, a move that is expected to put further pressure on car demand.

☆ Warren Buffett-backed BYD soars past Tesla in China sales as the company bucks wider EV stock sell-off
▼ + stars: | 2023-01-06 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Warren Buffett-backed BYD has avoided a painful stock sell-off in recent months compared to its competitors. BYD stock is down just 2% over the past three-months, compared to a 54% decline for Tesla. Despite a steep sell-off in electric vehicle stocks among US- and China-based companies, BYD has held its own. BYD said it sold nearly 1.9 million vehicles in 2022, outpacing Tesla's 2022 sales figure of about 1.3 million. BYD sells both plug-in hybrid vehicles and fully electric vehicles, typically at a lower price point than Tesla's lowest priced Model 3.

☆ Deutsche Bank's 'Fresh Money' portfolio beats the market. Here's what's in it
▼ + stars: | 2023-01-05 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

The financial services company should see 20% per-share earnings growth in both 2023 and 2024, according to Deutsche Bank. Deutsche Bank expects its ET5 mid-size sedan to become a top-selling model within six months as supply issues get worked out while demand remains strong. Deutsche's $21 price target implies Nio could rally 97.6% from where it closed Wednesday. The company should see a margin recovery in 2023 as headwinds related inflation and supply chain ease, Deutsche Bank said. Deutsche's price target of $266 implies the stock should gain a relatively modest 1.6% over the next 12 months.

☆ Tesla, EV rivals absorb costs after China pulls plug on subsidy
▼ + stars: | 2023-01-05 | by ( ) www.reuters.com time to read: +3 min

[1/2] A Tesla electric vehicle is seen through a charging point displayed during a media day for the Auto Shanghai show in Shanghai, China April 20, 2021. The subsidy accounted for around 3% to 6% of the cost of the best-selling electric vehicles in China last year, a Reuters analysis found. It paid out nearly $15 billion to encourage EV purchases through 2021, according to an estimate by China Merchants Bank International. Tesla, meanwhile, is defending its market share by selling the basic, rear-wheel drive Model Y for 288,900 yuan ($42,053.63) in China, unchanged from December. China's Association of Automobile Manufacturers said in December it expected sales of EVs and plug-in hybrids to grow by 35% in 2023, accounting for a third of total vehicle sales.

☆ Tesla stock is at a 'fork in the road' as Elon Musk needs to lead the EV maker through weakness in demand, says Wedbush analyst Dan Ives
▼ + stars: | 2023-01-04 | by ( Carla Mozée | ) www.businessinsider.com time to read: +3 min

Tesla stock is "way oversold," but 2023 is a critical year for the EV maker, Wedbush said Wednesday. Tesla under Musk's directions needs to project "hittable" 2023 target and delivery numbers, says analyst Dan Ives. He reiterated an outperform rating and a $175 price target on Tesla. The "Twitter distraction along with this current demand situation is creating a perfect storm for the stock," said Ives. Wedbush's $125 price target on Tesla represents a 62% upside from Tuesday's closing price of $108.10.

☆ Upstart Chinese electric car brand delivered more cars than Nio in 2022
▼ + stars: | 2023-01-04 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

A pink Nezha V and black Nezha U Pro electric car models are on display at a store in Shanghai on Nov. 7, 2021. BEIJING — Another budget-priced electric car brand is taking off in China, this time selling compact SUVs. Nezha, named after a feisty Chinese mythological character, claims its car deliveries more than doubled in 2022 to surpass 152,000 vehicles. However, Nio delivered more than 122,000 electric cars in 2022, up by a modest 34% from the prior year. Nio has emphasized its focus is on the more niche, higher-end segment, but has hinted at plans to launch a mass market brand.

☆ Stocks making the biggest moves midday: Tesla, Southwest, Apple, AMC and more
▼ + stars: | 2022-12-28 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Shares of AMC Entertainment more than quadrupled today as investors continue their buying spree on heavily shorted stocks. Baird also trimmed its price target on shares to $252 from $316 a share. AMC Entertainment – AMC Entertainment shares dipped about 3% a day after CEO Adam Aron tweeted that he asked the company's board to freeze his 2023 pay and urged other executives to forgo salary bumps. Maxeon — Shares slid 8% after the solar company announced Bill Mulligan would be the new CEO. The firm gave the stock a price target of $29, which presents an upside of 75.4% over where it closed Tuesday.

☆ Stocks making the biggest moves midday: Southwest, Peloton, Tesla, Herbalife and more
▼ + stars: | 2022-12-27 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Las Vegas Sands , Wynn Resorts — The casino stocks rose following China's announcement that it will end quarantine for international travelers starting Jan. 8. Shares of Las Vegas Sands and Wynn Resorts have outsized exposure to the country given their operations in Macao. B. Riley Financial - Shares of the investment company climbed more than 4% after it released guidance for the fourth quarter. The company said it expects operating adjusted EBITDA of between $90 million and $100 million for the fourth quarter. That is down from the fourth quarter of 2021 but above some previous quarters this year.

☆ Stocks making the biggest moves premarket: Southwest, Tesla, Peloton and others
▼ + stars: | 2022-12-27 | by ( Peter Schacknow | ) www.cnbc.com time to read: +1 min

Southwest Airlines (LUV) – Southwest slid 4.1% in the premarket following thousands of flight cancellations over the holiday weekend, a higher amount than experienced by other major airlines amid winter storm issues. United Airlines (UAL), American Airlines (AAL), Delta (DAL) and JetBlue (JBLU) all rose in premarket action. Tesla (TSLA) – Tesla fell 5.3% in premarket trading, after falling for six consecutive trading days and nine of the past ten. Peloton (PTON) – Peloton is selling refurbished bikes at discounts of up to $500 compared with new ones. Peloton rose 1% in the premarket.

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