Baidu-Backed Jiyue To Launch Jiyue 07 Electric Sedan In September; Larger Than Tesla Model 3: Report
Portfolio Pulse from Nabaparna Bhattacharya
Baidu-backed Jiyue, in collaboration with Geely, is set to launch the Jiyue 07 electric sedan in September. The new model is larger than Tesla's Model 3 and offers impressive specifications, including a range of up to 880 kilometers. The Jiyue 07 will be available in single-motor and dual-motor configurations and will be manufactured at Geely's plant in Ningbo, Zhejiang province.
July 16, 2024 | 10:59 am
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POSITIVE IMPACT
Baidu, Inc. (NASDAQ:BIDU) is set to launch the Jiyue 07 electric sedan in collaboration with Geely. The new model, larger than Tesla's Model 3, could enhance Baidu's position in the EV market.
The launch of the Jiyue 07, with its competitive specifications, could positively impact Baidu's stock by enhancing its presence in the growing EV market.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Tesla, Inc. (NASDAQ:TSLA) faces new competition from Baidu-backed Jiyue's upcoming Jiyue 07 electric sedan, which is larger and offers a longer range than Tesla's Model 3.
The introduction of a competitive EV model from Jiyue could put pressure on Tesla's market share, potentially impacting its stock negatively in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80