Xiaomi Launches Its First EV, With Ambition to Be China’s Porsche or Tesla
The billionaire co-founder of Xiaomi Corp. unveiled the company’s first electric vehicle Thursday, declaring ambitions to become a top global carmaker in 15 to 20 years and compete against Tesla Inc. and Porsche AG.
The SU7, which stands for Speed Ultra, will be powered by batteries from Chinese market leaders Contemporary Amperex Technology Co. Ltd. and BYD Co., depending on whether it has a single or dual motor configuration.
EV Startup Faraday Future's Sinking Share Price Prompts Nasdaq Notice
Faraday Future Intelligent Electric got a notice from the Nasdaq exchange on Thursday over its failure to comply with listing rules that require a minimum closing share price of $1, the electric-vehicle startup disclosed in a filing.
The firm, whose shares closed at 26 cents on Thursday, has until June 25 to regain compliance by lifting its stock price over the required level for at least 10 consecutive days.
Morgan Stanley Breaks Down $380 Price Target on Tesla Stock
Just recently, Tesla (NASDAQ:TSLA) received an optimistic note from Piper Sandler, with analyst Alexander Potter reiterating an “Overweight” rating and $295 per share price target for the company. Morgan Stanley analyst Adam Jonas, who has long been following Tesla, seems to be on the same page as his fellow analyst.
As per an Investing.com report, Morgan Stanley has reiterated its “Overweight” rating on Tesla. Analyst Adam Jonas was more optimistic with his TSLA price target than his peer from Piper Sandler, however, as he listed a 12-month price target of $380 per share on Tesla stock.
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