Tesla China Sales Sag, Fisker Touts Cybertruck Killer, Nikola C-Suite Revolving Door And More: Biggest EV Stories Of The Week
Portfolio Pulse from Shanthi Rexaline
The week ending August 4 saw mixed results for electric vehicle (EV) stocks, with Tesla's China sales dropping 31% MoM but growing 128% YoY. Tesla also faced a class action lawsuit over exaggerated vehicle range claims and recalled 271 Model S and X vehicles in China. Fisker showcased its future product portfolio, including the world's lightest EV pickup truck, the Fisker Alaska. Nikola announced its fourth CEO transition in four years, with former GM executive Stephen Girsky taking over. GM-EVgo surpassed 1,000 fast-charging stall installations and reported better-than-expected Q2 results. Toyota expressed its intention to compete with domestic rivals in China's EV market.
August 05, 2023 | 12:50 pm
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NEGATIVE IMPACT
Nikola announced its fourth CEO transition in four years, with former GM executive Stephen Girsky taking over.
The frequent changes in leadership could negatively impact Nikola's stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Tesla's China sales dropped 31% MoM but grew 128% YoY. The company also faced a class action lawsuit and a recall of 271 vehicles in China.
The drop in sales, lawsuit, and recall could negatively impact Tesla's stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Toyota expressed its intention to compete with domestic rivals in China's EV market.
Toyota's intention to compete in China's EV market could have a neutral impact on its stock in the short term.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100
POSITIVE IMPACT
GM-EVgo surpassed 1,000 fast-charging stall installations and reported better-than-expected Q2 results.
The strong Q2 results and progress in installations could positively impact EVgo's stock in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Fisker showcased its future product portfolio, including the world's lightest EV pickup truck, the Fisker Alaska.
The showcasing of future products could positively impact Fisker's stock in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100