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Tesla Can Deal with Supply Chain Shortage Unlike Chinese PeersBYD is positioned well, too. The global automotive industry is facing a deepening supply chain crisis. For one, Toyota: it slashed 40% of its planned production in September. Another case is French carmaker Renault: it expects to cut production by 500,000 cars this year. Although many companies have been making decisive moves, they haven’t seen much relief so far. On the other hand, NEV leader Tesla (TSLA:NASDAQ) delivered another record quarter again. Why didn't the shortage bother Tesla much? When will this supply chain mess be over? What's the crisis' implication on EV stock valuations? This article will answer these three questions. As we argued in our latest research report, there are at least four major factors causing this component shortage: The capacity cycle in the semiconductor industry Lockdowns affecting key suppliers Fast-growing demand for electronics Climate hazards and natural events The first and third reasons reveal the long-term bottleneck in the chip industry. Among other implications, this means most OEMs now need to pay more to get essential components. With its great cost control and supply chain integration, Tesla is likely to remain the least affected EV brand. Among Chinese companies, BYD can resist surging costs – but to a smaller extent than Tesla. NIO, XPeng and Li Auto will have to spend more money to deliver cars on time. Li Auto, for example, is said to buy chips at 800 times the normal price. We'll start with the semiconductor chip-related reasons. An eventful year The semiconductor shortage is both accidental and inevitable. Auto chips only account for 10% of the global semiconductor capacity. But the mounting demand for auto chips occurred along with a trough in the semiconductor market cycle, which has significantly affected global chip production. Before this trough, the most commoditized types of integrated circuits, like DRAM, had seen their prices declining, which made the sector's largest players postpone capacity expansion. Meanwhile, the pandemic forced workers far away from their assembly lines. In Kuala Lumpur, for instance, testing and packaging plants had to shut down for almost three months since June this year. The pandemic also disordered the consuming patterns: demand for all electronics, especially PCs, smartphones and tablets surged during the outbreak. Lastly, the automotive semiconductor supply chain was also hit by a few climate change-caused black swans. In February, extreme weather in Texas caused widespread power outages, affecting manufacturing activities at Samsung, NXP and Infineon. Dawn in 2022 The crunch is likely to be relieved in 2022 but it will take years to fully meet the industry's needs. Predicting supply chain relief timing is hard, as most companies can only focus on a small segment within the whole sector. We found that most players believe the situation had improved by July but will remain an issue, at least until the end of 2021. Only a few CEOs have expressed longer-term worries. However, some have extended their auto industry recovery time estimations. IHS Markit's newest forecast indicates that the industry will not enter a recovery phase until 2023. The CEO of chipmaker STMicroelectronics, Jean-Marc Chery, claimed the shortage would likely last at least two years. "Things will improve in 2022 gradually," he said, "but we will return to a normal situation … not before the first half of 2023." Besides, capacity expansion is rather costly and slow. Auto IDMs don't want to invest heavily in exorbitant fabs, especially those for leading process nodes. But even if some chip designer wants to invest in such a project, it takes around two years to build a fabrication plant and start production. Recently, some Tier-1 companies are changing their asset-light strategies. Bosch, for example, plans to invest more than EUR 400 million in 2022 to expand its fabs in Dresden and Reutlingen, Germany, and its semiconductor testing center in Penang, Malaysia. Favored electric cars Albeit auto brands can't get components on time, many of them are now prioritizing EV production. This is quite unusual, given that EV model, on average, need more chips of various kinds; it's also surprising that at the moment consumers need to wait less time to get an EV: "Mercedes EQC, a recently launched EV, has a two-month delivery time, while a GLC, which features a traditional powertrain, has five months," according to IHS Markit. On the other hand, pure EV brands, like Tesla, NIO and Xpeng, keep delivering record sales. The former's fundamentals, however, differ significantly from those of its Chinese peers. Here's why: 1. Tesla's impressive growth is a key negotiation tool. Almost any supplier wants to do business with the one-trillion-dollar tech giant and doesn't want to miss Tesla's future orders. 2. Tesla is self-designing and producing more components than a typical EV brand. The company designs and produces key parts of its models such as electromotors, electronic control systems and battery management systems. What's more, Tesla now designs chips and 4680 batteries in-house. Via developing essential parts of the supply chain, the company has a better understanding of what can happen at other links. 3. Tesla's cars have fewer components. The company is known for decreasing the use of radars and other accessories. BYD is another 'partly crisis-proof' company in the sector. The Warren Buffet-backed car maker also designs, makes and sells EV batteries and chips, among other products. From January to September, BYD sold 337,579 new energy vehicles, up 204.29% year on year. But the company has reportedly suffered rising costs. According to its Q3 results, BYD achieved operating revenue of CNY 54.31 billion in the third quarter, a year-on-year increase of 21.98%; net profit excluding non-recurring gains and losses was CNY 518 million, down 67.17% year-on-year. More expensive raw materials contributed to the profit decline. NIO, XPeng and Li Auto are facing levitating cost pressure, and their stocks are likely to plateau after the Q3 results are posted.
NASDAQ:TSLA
by EqualOcean
Proterra PTRA (1D) Mid Term Plan - LongHi Traders, This is just my Idea about very potential company for next 5-10 years. (If electromobility can win th battle against hydrogen, than this is one of TESLA competitors.) Consider your RRR Strategy + Fundaments (Entire market could get into Bear market as well). Buy zone right now is around 10-7 USD ... Sell zones are marked for partial take profit. Always look for RSI and MACD Convergencies / DIvergencie - in this ase at least 1D/1W timeframe. Good luck and enjoy the game ;)
NASDAQ:PTRALong
by LongevityContrarian
5
Waiting for the Triangle pattern to be finished | NIOToday we will take a look at the current formation on NIO From a technical perspective, we are observing a triangle pattern. But what is a triangle pattern? Ralph Nelson Elliott one of the fathers of modern technical analysis, and the creator of the Elliott Wave theory, Identified that the price moves on impulse and corrective sequences. One is followed by the other one. Based on that he defined 4 types of corrective patterns -Flat -Zig-Zag -Irregular -Triangle He also created a system that helps us know when a pattern is finished or we should keep waiting. The example we will use is a triangle pattern. Triangle patterns have 5 waves ABCDE, once we are able to count those waves and we can define clear edges both on the top and bottom of the pattern, we can think about breakouts and the beginning of a new impulse. In the current situation of NIO, we can count ABCD, and we should wait for E to be sure that the pattern is finished. Once we have that, we can define activation levels as you can see on the chart, and we can define invalidation levels below the structure. The targets of these structures can be defined using fibo extensions or cloned channels. The main purpose of this is to find situations that we are sure are finished and avoid engaging on charts that we don't have certainty about that. So my conclusion on NIO is that the pattern is not finished yet, and I would like to see that E wave before thinking about the idea of a new bullish trend happening. Thanks for reading!
NYSE:NIO
by ThinkingAntsOk
7
NIO's Q3 Earnings Call: Here's Everything You Need to KnowThe company is considering IPO in Hong Kong. NIO reported its third-quarter earnings on Wednesday morning Beijing Time and held an analyst conference call afterward to address the most important concerns of investors. Here's a summary from CnEVPost, and there's also a live text of our transcript of the call at the end of the article. Vehicle Deliveries Current NIO deliveries are primarily affected by supply chain volatility and are expected to reach 23,500 to 25,500 units in the fourth quarter, said William Li, founder, chairman, and CEO of NIO. NIO's new orders continue to grow, with a record high of new orders in October, he said. Chip supply is now better than the worst of the third quarter, but still faces challenges. The good thing is that NIO has adapted to the situation and always finds some solutions when possible, Li said. Compared to the automotive industry as a whole, NIO has a relatively small share of sales, so it faces fewer difficulties compared to established car companies, he said. Many of NIO's domain controllers are developed by itself, so it has some advantages in finding alternative chips. Power battery giant CATL is trying to ensure the supply of batteries to NIO, but this is still the ceiling of NIO's delivery volume. The JAC NIO plant will have a few more upgrades to follow, but they won't have as big an impact as they did in October. New NIO models will be built in the new plant, and there will be a capacity creep, but it won't have an impact on the production of existing models, Li said. ET7 and New Models NIO plans to have the ET7 available in showrooms around the Chinese New Year, which comes on February 1, according to Li. The release of the ET7's assisted driving capabilities will be a long-term process, and NIO will consider a number of factors, including regulations, safety and reliability, and will not deliberately make demonstrations of autonomous driving. NIO's 150 kWh battery is moving forward on schedule, with availability scheduled for the fourth quarter of next year, and is still on track. Development of NIO's NAD hardware and software systems is well underway, and in addition to the ET7, development of two other new models based on the NT2.0 platform is on schedule, with deliveries to customers expected to begin in the second half of next year, Li said. With the growth in scale, NIO's long-term target for the margin of vehicles based on NT2 models is 25 percent. NIO will reach that goal if it reaches 300,000 units of annual production capacity. NIO's current models will be upgraded to the NT2 platform, but it will manage the pace carefully. The development work for the upgrade is already underway. Many of NIO's new models are being developed in parallel, and the costs will be reflected in the financial statements over time. NIO will offer some hardware upgrades to existing models next year when they become available. The company has considered the possibility of upgrades in the design of its products. New Plant and Capacity Growth In addition to the upgrade of the JAC NIO plant, the construction of NIO's second plant in NeoPark is proceeding on schedule. Construction of the plant started on April 29 and the main structure was topped out on August 26. Equipment installation will start at the end of November and the plant will be officially put into operation in the third quarter of next year. With the completion of NIO's second plant, the two plants can reach a maximum annual capacity of 600,000 units with double shifts, which can meet the needs in the short term. About Norway and European Expansion NIO's work in Norway has met expectations, with a quarter of the test drive customers placing orders, much more efficiently than in China. NIO ES8 orders in Norway exceeded expectations, with 92 percent of consumers choosing the battery rental service BaaS, Li said. NIO hopes to establish an after-sales service system in Norway before aggressively pushing sales. The company's low deliveries in Norway in September and October were not due to a lack of orders, but rather a controlled pace, and NIO's deliveries in Norway will increase significantly in November. NIO will enter at least five additional European countries next year, all offering NT2-based products. The ES8, based on the first-generation platform, will only be available in Norway. Regulatory Credits and Subsidy Withdrawal Most of NIO's sales of regulatory credits materialized in the third quarter, earlier than last year. Li said NEV penetration has risen quickly this year, as has the price of regulatory credits, and expects that next year the price of regulatory credits may be lower than it is now. In response to a question about China's subsidy rollback for NEVs, Li said the average selling price of NIO vehicles is high and the expected subsidy rollback won't have much of an impact on it. The following is the text of CnEVPost's live report of the conference call: NIO's new orders continue to grow, with a record high of new orders in October, said William Li, founder, chairman, and CEO of NIO. Current NIO deliveries are mainly affected by supply fluctuations, and total deliveries are expected to reach 23,500 to 25,500 units in the fourth quarter of 2021. Development of NIO's NAD hardware and software systems is well underway, and in addition to the ET7, development of two other new models based on the NT2.0 platform is on schedule for delivery to customers starting in the second half of next year, Li said. In addition to the upgrade of the JAC NIO plant, NIO's second plant in NeoPark will start installing equipment at the end of November and will be officially put into operation in the third quarter of next year, said Li. NIO ES8 orders in Norway exceeded expectations, with 92 percent of consumers opting for the company's battery rental service BaaS, Li said. The JAC NIO plant will have small amount of renovations to follow, but they won't have as big an impact as they did in October. New NIO models will be built in the new plant and there will be a capacity creep, but it won't have an impact on the production of existing models, Li said. Most of the sales of regulatory credits occurred in the third quarter, earlier than last year. With the growth in scale, NIO's long-term target for vehicle margin based on the NT2 platform is 25 percent. NIO plans to have the ET7 available in showrooms around Chinese New Year, which arrives on February 1, Li said. The current chip supply is better than the worst third quarter, but still faces challenges. The good thing is that NIO has adapted to the situation and always finds some solutions as much as possible. Compared to the whole automotive industry, NIO's sales account for a relatively small percentage, so the difficulties it faces are also relatively smaller than those of established car companies. Many domain controllers are developed by NIO itself, so it has some advantages in finding alternative chips. CATL is trying its best to ensure the supply of batteries to NIO, but it is still the ceiling of NIO's delivery volume. The average selling price of NIO vehicles is high, and the expected subsidy withdrawal will not have much impact on it. The release of ET7's assisted driving capability will be a long-term process, and NIO will consider a number of factors including regulations, safety, and reliability, and will not deliberately go for autonomous driving demonstrations. NIO's 150 kWh battery is advancing on schedule, with plans to deliver in the fourth quarter of next year, and is still on track. If NIO reaches an annual capacity of 300,000 vehicles, it will be able to achieve a 25% vehicle gross margin. NIO's current models will be upgraded to the NT2 platform, but NIO will manage the pace carefully. R&D work for the upgrade is already underway. NEV penetration has risen rapidly this year, as has the price of regulatory credits, and next year the price of regulatory credits may be lower than it is now. NIO's work in Norway has met expectations, with a quarter of the test drive users placing orders, much more efficiently than in China. NIO hopes to establish an after-sales service system in Norway before aggressively pushing sales. The company did not deliver much in Norway in September and October, not because there were not enough orders, but because it was controlling the pace. NIO's deliveries in Norway will increase significantly in November. NIO will enter at least five additional European countries next year, all offering NT2-based products. The ES8, based on the first-generation platform, will only be offered in Norway. Many of NIO's new models are being developed in parallel, and the costs will be reflected in the financial statements over time. With the completion of NIO's second plant, the two plants can reach a maximum annual capacity of 600,000 units with double shifts. NIO will offer some hardware upgrades to existing models next year when the time comes. The company has considered the possibility of upgrades in the design of its products. This article was first published by Phate Zhang on CnEVPost, a website focusing on new energy vehicle news from China.
NYSE:NIO
by EqualOcean
NIO Flag on the week chart.So recently NIO was thrown on the drawing board... After peaking at $66.99 in January, the market has cooled down a bit and has found support around $30 2-3 times, all of which has caused a pennant to form which would imply that there is a chance of 75% is that this continuation pattern could push the price further up. The upward price target would come in at a good $75. This 100% price target is not what I'm assuming and my focus is initially on surpassing the previously achieved $66.99. in the event of a fall, the price could plunge towards $25 dollars. Looking at the 12H chart there seems to be a head and shoulder pattern in the making. Of course this is speculation but one thing is a fact... we are getting closer and closer to the apex (the point where the support and resistance lines cross) and so there is a good chance that something will eventually happen there. If it doesn't become Head and Shoulder and the bulls want to bring the market up straight away, you could say that an Extended W pattern has formed If the bears push the price down, things could get tense at the bottom of the support line. Final words, we have to look forward to November 16, as NIO will then release the 3rd quarter results. Nice to know is that at the beginning of October, NIO delivered 10,628 vehicles worldwide in September 2021, an all-time record number, representing a robust growth of 125.7% year-on-year. and on September 30, 2021, NIO opened its NIO House and completed its first batch of vehicle deliveries in Norway. And those are some pretty nice numbers too. NIO delivered 24,439 vehicles in the three months to September 2021, an increase of 100.2% year-on-year. and cumulative deliveries of the ES8, ES6 and EC6 as of September 30, 2021 reached 142,036 This is not financial advice! source: motleyfool.com & tipranks.com COMBI CHART date 29 oktober ! 12H CHART:
NYSE:NIO
by Tims.Technische.Analyse.
Increase in Revenue with Decreasing Net Profit GM Motors Q3 2021The automaker has been expanding its global layout during the past quarter of 2021 and has entered the Egyptian, Bruneian and European markets. During the third quarter, Great Wall Motor announced its target of selling 1 million vehicles overseas in 2025. The revenue of the firm increased 10.13% year-on-year to CNY 28.86 billion. Operating income was CNY 28.86 billion, a year-on-year increase of 10.13%. Net profit was down 1.72% year-on-year to CNY 1.41 billion. From January to September 2021, the automaker achieved a total operating income of CNY 90.79 billion, a year-on-year increase of 46.11%, and a net profit of CNY 4.94 billion, up 91.13% year-on-year. For the first three quarters this year, Great Wall Motor added that the company witnessed a 29.9% increase in new car sales versus the previous year to 884,000 vehicles. From January to September, GWM sold 98,000 vehicles outside China, soaring 136.3% compared to a year ago, accounting for 11.1% of the company's total vehicle sales. Great Wall Motor's performance in the capital market has also improved significantly. As of the close of October 29, the company's A-share stock price has reached CNY 68, an increase of 82.65% from the closing price on December 31, 2020. The market value of the firm has reached CNY 628.1 billion, ranking second among Chinese automobile companies.
HKEX:2333
by EqualOcean
Tesla's Record in Q3 Reflective of China's Solid EV FoundationDespite a great Q3 overall, Tesla in China sees demand reduce as competitors begin to catch up. Share prices for Tesla have soared to all-time highs after earnings and amidst reports of a 100,000-car deal with car rental company Hertz. Demand has not been the main issue for Tesla outside of China seeing that orders have backlogged out as far as May and prices on models have been raised. The global supply crunch has been their biggest obstacle to navigate so far. Tesla in China though is in fact seeing an isolated demand crunch while domestic firms are pouncing to shift demand in their favor. We believe Tesla's record revenue of USD 13.76 billion in Q3 is not only reflective of Tesla's success but China's impactful support. The earnings report states, "For all of Q3, China remained our main export hub. Production has ramped well in China, and we are driving improvements to increase the production rate further." Not only are a significant amount of all Tesla models produced in Giga Shanghai, but Ningde-based CATL already has a contract to produce batteries for Tesla until 2025. CATL also signed a 10-year contract with Great Wall Motor in June of 2021. EV's are getting a foothold in China the way internal combustion engine vehicles were in Japan around the 90s. Domestic brands are gaining on Tesla's share of the Chinese EV market Sales in China leaped nearly 50% in August but only 20% in September for Tesla. Their market share of BEV sales has declined from 17% in April to 11% despite the steep price reduction for the Model Y SR+ and amidst intense media scrutiny. BYD is now atop them with 14% of BEV sales in China. The domestic brands are clearly gaining consumers' favor in China as of Q3 sales for BYD, Xpeng, and Li Auto nearly tripled and NIO's sales doubled all year-over-year(YoY). Going forward, Tesla still generally expects to “achieve 50% average annual growth in vehicle deliveries” over a multi-year horizon which is quite impressive. In the world's biggest EV market, however, it does seem demand for Tesla is declining at least relative to the competing rivals. Even if Tesla can recuperate some consumer appeal, investors should expect Chinese automotive firms to continue to gain ground assuming supply can keep up in scaling for 1.45 billion people. More players both new and old Nonetheless, as other emerging players begin to throw their hat in the ring like Xiaomi, Evergrande Auto, as well as international makers like Volkswagen and Toyota, there could be less room for Tesla to dominate demand. Especially if the market's fragmentation gets remedied and China solidifies its leaders of the industry, the winners of this race will be the Chinese investors. NIO has already started selling its ES8 electric SUV in Norway, challenging Tesla outside of China for the first time and has targeted Q4 of 2022 for launch in Germany. Tesla expects production up and running at Giga Berlin by the end of 2021. Legacy automakers will certainly be Tesla’s biggest global competitors because of high client adhesiveness as well as industry expertise. Within China, however, it is likely that there is only so much space in the EV market for successful international firms to squeeze in with the nationally favored domestic firms. Since Tesla has the technological prowess and resilience as a company to continue to spearhead the global EV market, it should end up in the long run as China’s premier foreign producer of EV’s. Though China isn't a completely autarkic environment, investors should still expect a sturdy path forward for Chinese EV’s to grow profitable and successful. Though there are limitations in the current global economic climate, those who can weather the storm will be rewarded. The bottom line Tesla has benefitted competing firms with good influence and transparency as well as a commitment to growing China's EV market. In 2021 though, Tesla's declining position could be attributable to issues with recalls to refine autopilot systems as well as other negative sentiments from the trade war. The US does claim China unfairly favors its domestic producers and contributes to accelerating the negative press. Investors should expect that regardless of legality in their execution, China will aggressively promote their EV makers at home and abroad. Even if Tesla overcomes these road bumps in navigating this massive foreign market, there should and likely will be enough room for the best EV firms in China to grow and flourish. After all, Tesla is likely to grow too big to ignore especially in the world's current hottest EV market. But China's more urban-oriented driving habits do favor domestic producers of mini EV's. With that being said, these infantile EV makers have a lot on their side and will cater directly to the needs and appeal of Chinese consumers. For the full article with the charts, please visit the original link.
NASDAQ:TSLA
by EqualOcean
XPeng to Launch 800v, 480kW Overcharge... and Super Energy Storage Station. The CEO of XPeng Inc. predicted that the penetration rate of new energy vehicles would reach 50% in 2025. On October 24, Xiaopeng He, CEO of XPeng Motors, said that XPeng hopes to be the first 800V high-voltage platform equipped with silicon carbide chips in mass production, aiming to achieve the endurance of 200 kilometers after charging for 5 minutes. Meanwhile, XPeng will also launch the supporting 480kW high-pressure overcharge pile. The energy storage station designed by XPeng can meet the overcharge of 30 vehicles at the same time. In other words, XPeng will launch three schemes in terms of energy supplement, that is, 800V, 480kW overcharge and Super Energy Storage Station, respectively. In addition, XPeng also announced its exploration progress in electrification and intelligence. It is reported that it's Xpilot 2.5 accounts for 89.74%, and the activation rate of version 3.0 with high-speed NGP is 59.29%. He pointed that intelligent-assisted driving is not automatic driving, where man-machine driving will be an inevitable choice for a long time. It is worth noting that Xinzhou Wu, vice president of XPeng's auto-driving business, said that the urban NGP function is expected to be launched in the first half of 2022 and will be tested on some roads in the first batch of cities. In January 2021, XPeng's NGP was officially opened to users. Users can realize automatic navigation-assisted driving from point A to point B based on the set navigation route. The high-speed NGP function realized by XPeng P7 can cover most domestic expressways and some urban expressways. Apart from the functions of ACC adaptive cruise, LCC lane-centering assistance, ALC automatic lane change assistance, some other functions include but are not limited to automatic lane change, automatic speed limit adjustment, overtaking at night, ramping in, and out.
NYSE:XPEV
by EqualOcean
BYD Reportedly to Raise Battery Prices by Over 20% Next MonthBYD's reasoning is that the raw materials for lithium batteries have been rising due to market changes, power restrictions, and production limitations. BYD, China's largest new energy vehicle company, is also the second-largest local supplier of power batteries after CATL. As costs rise, the company is said to be raising the price of its batteries. BYD will raise the unit prices of its battery products, including CO8M, by no less than 20 percent from November 1, the Securities Times said Tuesday, citing a document. BYD argues that the raw materials for lithium batteries in 2021 continue to rise with the price of cathode material LiCoO2 rising by more than 200 percent and electrolyte prices rising by more than 150 percent. Material supply continues to be tight, resulting in a significant increase in comprehensive costs, according to the Securities Times. Since November 1, BYD and its customers will sign new contracts for new orders and implement new prices, and orders for old contracts that have not been completed will be closed and canceled, according to the report. Local media cls.cn then quoted BYD insiders as saying that the information is currently being verified. It's unclear whether CO8M batteries are power cells used in new energy vehicles, and public sources can't find an explanation of the term. BYD is also one of the world's largest suppliers of batteries for cell phones and ranks second in China's power battery market. Data released earlier this month by the China Automotive Battery Innovation Alliance showed that BYD's installed power battery capacity in China was 14.73 GWh from January to September this year, with a 16 percent market share. CATL's installed capacity from January to September was 46.79 GWh, ranking first with a 50.8% market share. It is worth noting that BYD's power cells are mainly supplied to itself and have been used in some other brands' new energy logistics vehicles since 2018. This year Ford Mustang Mach-E and some FAW Hongqi models started using BYD's power cells. In May, the Digi Times reported that with the price increase of China-made Tesla Model 3, rumors said CATL might follow with a 10 percent price increase. The report mentioned that LFP raw material prices have jumped 50 percent this year, but battery suppliers have taken on the pressure of the price hike themselves for fear it would lead to lost orders. Citing sources, the report said most LFP battery makers want CATL to take the lead in raising prices in response to the steep rise in LFP material costs, making it easy for the industry to follow suit. CATL later responded that the report that its LFP battery offer would be raised was not true. This article was first published by Phate Zhang on CnEVPost, a website focusing on new energy vehicle news from China.
OTC:BYDDY
by EqualOcean
China fear was an entry opportunityIn my latest post on the 19th Jul 2021, I mentioned: "It is possible that wave 2 is not complete yet and we may see another leg down before taking off hard to make new highs as the 3rd impulsive wave." This is what happened and we should be on our way to the higher prices. Target 1 should be $59 and Target 2 should be $74 for the medium term. Note that still there is a slim possibility of morphing this correction to a more complex pattern, however as China fear pushed the Chinese stock prices to lower prices and offered an opportunity to get in at lower prices, such a pattern conversion should be regarded as an entry opportunity. EV stocks will shine in 2022 and 2023 as the sales will be more prevailing and more companies will come up with new EVs and technologies. As an example, Toyota has promised the introduction of 70 new models until 2025 out of which 15 will be fully electric. $LCID and $FSR are the two notable EV companies in the US that will introduce their luxury sedan and cross-over SUV in 2021 and 2022 respectively. My last post on $XPEV: Please DYODD. This is not financial advice.
NYSE:XPEVLong
by IboProtrader