China Says It Will Restrict Key Material In EV Batteries: Tesla Moves Lower
Portfolio Pulse from Aaron Bry
China's Ministry of Commerce and General Administration of Customs announced restrictions on graphite exports, a key component of EV batteries. This news potentially led to a drop in the stock prices of EV companies, including Tesla and Rivian. This comes after the U.S. banned the sale of some AI semiconductor chips to China, including those from NVIDIA.
October 20, 2023 | 4:46 pm
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NVIDIA is affected by the U.S. ban on the sale of some AI semiconductor chips to China.
The U.S. ban on the sale of some AI semiconductor chips to China directly impacts NVIDIA, as it can no longer export some of its AI chips to China. This could potentially lead to a drop in its stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Rivian's stock also traded lower potentially due to China's restriction on graphite exports.
China's restriction on graphite exports, a key component in EV batteries, could impact Rivian's production and supply chain, leading to a potential drop in its stock price.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Tesla's stock traded lower potentially due to China's restriction on graphite exports.
China's restriction on graphite exports, a key component in EV batteries, could impact Tesla's production and supply chain, leading to a potential drop in its stock price.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80