EV Market Set For 20-23% Growth, Led By China-Based Companies Like Nio, XPeng, Li Auto: JPMorgan
Portfolio Pulse from Surbhi Jain
J.P. Morgan projects a 20%-23% YoY growth in global EV sales for 2024, led by China-based companies like Nio, XPeng, and Li Auto. The focus is on battery innovation, fast charging, and cost reductions. U.S. tariffs on Chinese exports will impact material costs for U.S. EV makers like Tesla and Rivian.
May 17, 2024 | 3:05 pm
News sentiment analysis
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NEGATIVE IMPACT
Rivian may face increased material costs due to U.S. tariffs on Chinese exports, impacting its profitability.
U.S. tariffs on Chinese exports will increase material costs for Rivian, potentially affecting its profitability and stock price negatively.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Tesla may face increased material costs due to U.S. tariffs on Chinese exports, impacting its profitability.
U.S. tariffs on Chinese exports will increase material costs for Tesla, potentially affecting its profitability and stock price negatively.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
Lucid Group may face challenges due to softer growth in EV demand outside China, despite the overall positive outlook for the EV market.
Lucid Group, focusing on markets outside China, may not benefit as much from the projected growth in EV sales, which is primarily driven by China.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
Li Auto is expected to benefit from the projected 20%-23% YoY growth in global EV sales for 2024, driven by strong demand in China.
Li Auto is a key player in the Chinese EV market, which is expected to lead the global growth in EV sales. This positive outlook should boost investor confidence.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Nio is poised to benefit from the projected growth in global EV sales, particularly in China, which is expected to lead this growth.
Nio, being a major Chinese EV manufacturer, stands to gain from the anticipated growth in the Chinese EV market, boosting its stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
VinFast Auto is likely to benefit from the projected growth in global EV sales, particularly in the Chinese market.
VinFast Auto, being part of the Chinese EV market, is expected to see positive impacts from the projected growth in EV sales.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
XPeng is expected to see positive impacts from the projected growth in global EV sales, with China leading this growth.
XPeng, as a significant player in the Chinese EV market, is likely to benefit from the projected growth in EV sales, enhancing its market position.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80