Tesla In Early Innings Of 'Golden Success Story;' Fisker, Lucid Come Calling To China; Ford's Farley On 'EV Price Parity' And More: Biggest EV Stories Of The Week
Portfolio Pulse from Shanthi Rexaline
Tesla's shares accelerated in the week ending June 9, following a deal with General Motors to integrate the North American Charging Standard connector design into GM's EVs. Analysts predict Tesla will earn about $3 billion by 2030 from its charging collaborations. Fisker and Lucid are eyeing expansion into China, while Ford's CEO Jim Farley expects EV price parity with ICE vehicles by 2030. Nikola postponed its shareholder meeting, and Nio reported a narrower Q1 loss than expected.
June 10, 2023 | 1:47 pm
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NEGATIVE IMPACT
Nikola postponed its annual shareholder meeting to allow additional time for voting on a proposal to increase its authorized shares, potentially due to a lack of required votes.
The postponement of the shareholder meeting and potential lack of required votes for the share increase proposal may raise concerns among investors, driving the stock price down in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 100
NEUTRAL IMPACT
Ford's CEO Jim Farley expects EV price parity with ICE vehicles by 2030, as the process of making EVs becomes simpler and less labor-intensive.
The expectation of EV price parity by 2030 is a long-term outlook and may not have a significant short-term impact on Ford's stock price.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 80
NEUTRAL IMPACT
Nio reported a narrower Q1 loss than expected, but its revenue trailed expectations and guidance suggests a decline in Q2 deliveries and revenue.
The mixed Q1 results and Q2 guidance may not have a significant short-term impact on Nio's stock price, as the positive and negative aspects could offset each other.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Fisker plans to open a delivery center in China in 2023 and start delivering the Fisker Ocean SUV in Q1 2024.
Fisker's expansion into the Chinese market could boost investor confidence and drive the stock price up in the short term, as China is a major market for EVs.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
General Motors announced a deal with Tesla to integrate the North American Charging Standard connector design into its EVs, expanding access to charging for GM EV drivers.
The partnership with Tesla will improve GM's charging infrastructure and enhance its EV offerings, potentially attracting more customers and driving the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
Lucid hired Zhu Jiang to head its China operations and set a 2023 timeframe to enter China, with plans to build a plant in the country by mid-decade.
Lucid's expansion plans in China could boost investor confidence and drive the stock price up in the short term, as China is a major market for EVs.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Tesla's shares accelerated after announcing a deal with GM to integrate charging connectors, with analysts predicting $3 billion earnings by 2030 from charging collaborations.
The deal with GM and the positive outlook from analysts regarding Tesla's charging collaborations will likely boost investor confidence and drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100