Legacy Automakers Are Hitting Speed Bumps On Their EV Route While Tesla Rekindles The Price War
Portfolio Pulse from Upwallstreet
Legacy automakers Ford (F) and General Motors (GM) are facing setbacks in their EV production, with Ford postponing the launch of its all-electric Ford Explorer and GM experiencing issues with its Ultium battery production. Meanwhile, Tesla (TSLA) has cut prices in China, intensifying competition. Rivian (RIVN) beat Q2 estimates and raised 2023 production guidance. The EV market in China also saw a slump in stocks of BYD (BYDDY), Li Auto (LI), and Xpeng (XPEV) following Tesla's price cut.
August 14, 2023 | 1:05 pm
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NEGATIVE IMPACT
BYD's stock price slumped following Tesla's price cut in China.
Tesla's price cut in China could negatively impact BYD's market share and stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Ford postpones the launch of its all-electric Ford Explorer and expects a loss of $4.5 billion in its EV segment this year.
The delay in the launch of the all-electric Ford Explorer and the expected loss in the EV segment could negatively impact Ford's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
General Motors is facing production issues with its new Ultium battery packs, slowing down its EV output.
The production issues with the new Ultium battery packs could negatively impact GM's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Li Auto's stock price slumped following Tesla's price cut in China.
Tesla's price cut in China could negatively impact Li Auto's market share and stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Xpeng's stock price slumped following Tesla's price cut in China.
Tesla's price cut in China could negatively impact Xpeng's market share and stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Tesla has cut prices in China, intensifying competition in the EV market.
While the price cut could increase Tesla's market share in China, it could also lead to a decrease in profit margins, making the impact on the stock price uncertain.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Rivian beat Q2 estimates and raised 2023 production guidance.
The positive Q2 results and raised production guidance could positively impact Rivian's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100