Tesla Emerges as Winner in China’s EV Shakeout

China’s electric vehicle market, the world’s largest accounting for two-thirds of global EV sales, is undergoing a brutal consolidation that threatens the survival of most domestic manufacturers. Amid this carnage, Tesla Inc. (NASDAQ: TSLA) has emerged as one of the few companies positioned to profit from the industry shakeout, with its Shanghai factory demonstrating remarkable resilience through strong delivery growth and maintained profitability despite the intensely competitive environment.

read more

Goldman Sachs Bullish on 10 China Stocks as ‘Magnificent 7’ Rivals

Goldman Sachs has identified ten Chinese companies—including Tencent, Alibaba, BYD, and Xiaomi—as high-growth prospects, comparing them to the US ‘Magnificent 7.’ The bank’s analysts highlight favorable regulations, AI investments, and government support for private enterprises as catalysts for a projected 13% earnings growth over the next two years. These firms span sectors like e-commerce, EVs, gaming, and pharmaceuticals, reflecting China’s push for self-sufficiency and global expansion. Goldman also notes the Chinese equity market’s undervaluation and improved M&A regulations as additional tailwinds.

read more

Tesla Market Cap Falls Below One Trillion Amid Stock Decline and Concerns

Tesla’s market cap has fallen below $1 trillion after shares dropped over 8%, marking a 25% decline this year. The downturn follows disappointing feedback on its automated driving features and concerns over CEO Elon Musk’s political activities, which have sparked protests and affected sales. Additionally, Tesla reported earnings that missed expectations, with a notable drop in automotive revenue and vehicle registrations in key markets.

read more

Stocks Set to Open Up Ahead of Fed Powell Speech; Tech and Auto Stocks Lift Indexes

Stock futures point to a higher open as investors await Federal Reserve Chair Jerome Powell’s economic report. Semiconductor and auto stocks drive market gains, with Huizhou Desay SV Automotive, Cambricon Technologies, and Foxconn Industrial Internet seeing notable increases. Powell’s speech on interest rates will be closely watched for insights into the central bank’s future direction.

read more

Global Stocks Mixed After Wall St Closes Another Winning Week

Global stocks were mixed as European markets remained little changed, with the FTSE 100 rising slightly while the DAX and CAC 40 edged down. In Asia, the Nikkei 225 and Shanghai Composite index saw slight declines, while Hong Kong’s Hang Seng rose. The Biden administration is expected to announce plans to raise tariffs on Chinese exports, sparking selling of some automakers. U.S. consumer sentiment weakened, leading to a rise in Treasury yields, and U.S. crude and the dollar saw slight increases in trading.

read more

Chinese Automaker BYD to Invest Billions in Brazilian Electric Vehicle Plant

Chinese automaker BYD is set to invest around 563 million euros in Brazil to establish a new factory, creating 10,000 jobs. The company, known for its electric vehicles, aims to transition to producing more environmentally friendly cars. This move comes as BYD surpassed Tesla in global electric vehicle sales in the fourth quarter of 2023, signaling a potential shift in the market.

read more