Tesla, Local Rivals Nio, Xpeng, Li Growing Together, Not Cutting Each Other's Market Share, Say Analysts

Benzinga2021-07-20

Tesla Inc(NASDAQ:TSLA) and local electric vehicle rivals such asNio Inc(NYSE:NIO) are growing the electric vehicle segment together in China and not eating into each other's market share, Zhongtai Securities analysts said, asreported by cnEVpost.

What Happened:Chinese electric vehicle makers such as Nio,Xpeng Inc(NYSE:XPEV),Li Auto Inc(NASDAQ:LI) andBYD Co(OTC:BYDDY) along with Teslareported robust delivery numbersin June.

Tesla has stepped up the competition in Chinaafter introducinga lower-priced Model Y variant. The strategy has paid off as the Elon Musk-led company has reportedly secured a flood of orders but raised fears of doom and gloom for China's new carmakers.

Zhongtai Securities analyst sees the move as overblown as China's new carmakers are competing differently both in terms of demand and pricing.

Why It Matters:Tesla has introduced a more affordable variant of electric mid-size SUV Model Y in China, which qualifies for a subsidy as well as it is sold under RMB 300,000 ($46,000), the benchmark. Deliveries are expected to begin in August.

Tesla’s biggest rival Nio at the moment operates a portfolio that is more expensive and not eligible for the subsidies as they are all priced over the RMB 300,000 limit.

Ford Motor Co(NYSE:F) too hasadded another variantof its all-electric sports utility vehicle Mustang Mach-E in China for under RMB 300,000 ($46,000), thus qualifying it for state-led subsidies.

Price Action:Tesla shares closed 0.31% higher at $646.22 on Monday. Nio closed 1.29% higher at $43.35.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

进击的阿甘
2021-07-21
进击的阿甘
蔚來全系車型都是換電車型雖然售價在30萬以上但是可以獲得政府補貼
moneytome
2021-07-21
moneytome
EV becoming more accessible
Kevinchai
2021-07-21
Kevinchai
NIO please
2021koon
2021-07-21
2021koon
Confidence in these stocks!!
chefbean
2021-07-21
chefbean
Like pls
Cocoa88
2021-07-20
Cocoa88
Good

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