EV Week review: Tesla Q1 Wow, Lee Auto’s SEC Crossfire, Renault Mulling EV Spin-off, Lincoln Ford’s Star SUV and more

Shares of electric and allied vehicles extended their losses in the week ending April 22, with the market leading Tesla, inc. TSLA Violating the downtrend and closing above the key psychological $1,000 level. Meanwhile, the Chinese trio listed in the United States fell sharply amid delisting problems and the coronavirus unrest in China.

Here are the most important events that occurred in the electric vehicle space during the week:

Tesla Premium Earnings, Shanghai Resume, and More: Despite supply chain challenges, Tesla comfortably reported first-quarter results that beat expectations. Auto margins rose to a record high, helped in part by an unexpected increase in regulatory credits.

Leading the management of Tesla CEO Elon Musk He sounded optimistic and confirmed the 50% growth forecast for deliveries. On the call, Musk suggested that he expects the Tesla robot to be worth more than the company’s self-driving business. He also said that Robotaxi is likely to reach production in 2024 and will be a massive driver of Tesla’s growth.

After the impressive results, Standard & Poor’s said it is considering upgrading the company to investment grade later this year.

Related link: Why this analyst thinks Tesla’s growth could “shock Wall Street” for several years

In another positive catalyst, Tesla restarted Giga Shanghai after a prolonged shutdown, although the slope is expected to be gradual. The Chinese plant is said to be operating at 72% of capacity and is expected to be operating at full capacity in May.

It has nothing to do with the Tesla EV project, Musk is rapidly advancing to develop the social media platform Twitter, Inc. TWTR. In an updated 13D file, the Tesla CEO suggested he had commitments of approximately $46.5 billion for the proposed purchase of Twitter.

Li Auto has been added to the SEC’s potential deletion list: Li Auto, Inc. LI It is named in the SEC list specified within the scope Foreign Holding Companies Accounting Act. The inclusion was because the company’s accounting firm did not open its books to American Public Company Accounting Oversight Board.

If the company continues to identify the same problem for three years, it faces the possibility of delisting from US stock exchanges.

RELATED LINK: Elon Musk’s Starlink inks deal with their first airline customer: What you need to know

Ford announces the Lincoln Star EV: Ford Motor Company F The luxury brand Lincoln unveiled the Lincoln Star EV SUV globally this week. The company said three new Lincoln-branded electric cars will be launched by 2025. The company said more than half of Lincoln’s global volume will be complete by this time. A fourth model will be added by 2026.

Renault considers the electric car offer: French car industry Renault SA RNLSY It is reported to be considering spinning off its electric vehicle business, with a possible initial public offering in 2023. However, the proposed plan is subject to approval by its consortium partner. Nissan Motor Co., Ltd. NSANY.

Lexus launches RZ SUV: Toyota Motor Corporation TM The luxury brand Lexus has launched for the first time the globally available BEV model from Lexus. The first model to be launched will be the 2023 RZ 450e, with Lexus planning full electrification by 2035.

EV inventory performance for the week:

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