Elon Musk Once Laughed At Tesla Competitor, Warren Buffet-Backed BYD — Now, Praises 'Their Cars'
Portfolio Pulse from Navdeep Yadav
Elon Musk, CEO of Tesla, has praised the cars of Warren Buffett-backed Chinese EV-maker BYD Company, calling them 'highly competitive.' This comes as Tesla faces increasing pressure from growing competitors in the EV market, including BYD, which has shown staggering growth in sales and is rapidly catching up with Tesla.
May 27, 2023 | 8:22 am
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NEGATIVE IMPACT
Tesla faces increasing competition from BYD, which is rapidly catching up in sales and market share.
As BYD's sales and market share grow, Tesla may face increased competition, which could negatively impact its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Ford's CEO Jim Farley believes that both Tesla facing margin pressure and Ford growing returns from its EV business will happen.
Ford's CEO's statement suggests that Tesla may face margin pressure, but it is not clear how this will impact Ford's stock price in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
BYD's cars have been praised by Elon Musk as 'highly competitive,' and the company is rapidly catching up with Tesla in sales and market share.
Elon Musk's praise of BYD's cars and the company's rapid growth in sales and market share could positively impact its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
BYD's cars have been praised by Elon Musk as 'highly competitive,' and the company is rapidly catching up with Tesla in sales and market share.
Elon Musk's praise of BYD's cars and the company's rapid growth in sales and market share could positively impact its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100