Latest news with #EVgiant
Bloomberg
a day ago
- Automotive
- Bloomberg
BYD Runs India Remotely as China Tensions Shut Out Top Brass
China's BYD Co. is forging ahead with its attempts to expand in India despite roadblocks from the government that are preventing the electric vehicle maker from conducting key business dealings there. Like most Chinese companies, BYD has been unable to obtain visas for executives after a deadly clash between Indian and Chinese soldiers along a disputed Himalayan border in 2020 sparked a major deterioration in political ties. That's seen the EV giant resort to holding board meetings and high-level business interactions in Colombo in Sri Lanka and Kathmandu in Nepal, and even as far away as Singapore, according to people familiar with the matter.
Globe and Mail
3 days ago
- Automotive
- Globe and Mail
Tesla Just Hit a Fork in the Road—Could the Bulls Lose Control?
Shares of had been grinding higher into Wednesday night's earnings, up nearly 15% over the past two weeks and more than 50% since April. That kind of run can easily put investors on edge, as they know a lot is going to be riding on the company's next earnings report. With Tesla's previous two earnings reports delivering big misses, Wall Street was hoping for a change of tone this time around. On paper, the electric vehicle (EV) giant delivered. Revenue still declined nearly 12% year-over-year, but not as badly as expected, and non-GAAP EPS came in at $0.40, which was solidly in the black. Deliveries were up compared to Q1, and margins also saw some improvement, reinforcing the view that Tesla may well be entering recovery mode after a rocky start to the year. But for now, at least, it doesn't look like this was enough. The Report Was Better, But Not Good Enough With the stock's price-to-earnings (P/E) ratio looking quite frothy around the 180 mark, Tesla would have known in advance that expectations were sky-high. Anything short of a beat-and-raise quarter was going to be a letdown, and that's exactly how the post-release price action looks to be playing out. Shares were down more than 6% ahead of Thursday's open, confirming investor sentiment is turning cautious, at least in the short term. It's a reminder of just how high the bar has become for Tesla, and how little margin for error there is right now. Even with improving fundamentals, the recent rally looks to have gotten a bit ahead of itself. There's Still a Bull Case Here However, for longer-term investors on the sidelines, this pullback could be the opportunity we've been waiting for. In between the headline numbers were plenty of reasons to stay bullish. CEO Elon Musk reiterated that plans for a lower-cost vehicle remain on track for the second half of 2025, while forecasting that the company's robotaxi rollout will reach half the U.S. population by the end of the year. That's a big claim, and one that reinforces the innovation engine still driving the Tesla story and makes bulls so excited. It also pays to remember that the company rallied nearly 70% after last quarter's miss, which was far worse than this one. If anything, Q2's report, while not spectacular, showed progress. And that should be enough to support the next leg of the uptrend once the dust settles. Analysts Still Back the Long Game Backing up the theory that this could be a buy-the-dip opportunity, earlier this week, the team over at Wedbush reiterated their Outperform rating and $500 price target on Tesla shares. Not only is this pointing to a targeted upside of some 50%, it also echoes the similarly bullish calls from the likes of Cantor Fitzgerald and Mizuho earlier this month. While Tesla remains one of the most hotly debated stocks on the market, there's no denying that many on Wall Street, who are still backing its longer-term prospects, will be licking their chops today. Yes, there are headwinds. Regulatory scrutiny, rising costs, and weak free cash flow all remain overhangs. But the roadmap is still intact, and the market tends to look forward, especially when a company with Tesla's brand power is showing signs of stabilizing. A Pullback, Then a Reset Still, with shares looking likely to fall after last night's earnings, a short-term correction is likely. A move back towards the $290 level would be a healthy test of support and could give the bulls room to regroup. This is still a stock to watch closely, and a sell-off doesn't mean the rally is over; just that it might be on pause. If investor sentiment can reset around Tesla's improving deliveries, growing margins, and product innovation, the stock could soon be up for another strong run through the rest of Q3. Where Should You Invest $1,000 Right Now? Before you make your next trade, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list. They believe these five stocks are the five best companies for investors to buy now...
The Sun
4 days ago
- Automotive
- The Sun
Watch Tesla test self-driving cars for first time on busy London streets & Swindon's infamous ‘Magic Roundabout'
TESLA has been showcasing its cutting-edge Full Self-Driving technology in the UK as part of preparations for a potential future rollout. Led by billionaire Elon Musk, the US-based EV giant has been rigorously testing its FSD system across major European cities, including Amsterdam, Paris, Rome, Berlin and Madrid, to demonstrate its ability to handle diverse and complex real-world road conditions. 4 4 4 4 In two videos, which debuted today and have been seen by Sun Motors, the company demonstrates a self-driving Tesla Model 3 navigating through central London and tackling the infamous Magic Roundabout in Swindon - known for its complexity. These demonstrations aim to showcase the system's ability to handle dynamic traffic situations, pedestrians, cyclists, roadworks and the UK's challenging intersections. The test in London sees the Tesla pass iconic landmarks such as Big Ben, Parliament Square and Whitehall, while the system successfully manages diverse traffic conditions, signalling appropriately and delivering a smooth ride. The FSD tech was also tested on this notoriously complicated intersection with five mini-roundabouts. Tesla demonstrated the system's ability to handle unpredictable traffic scenarios by navigating it multiple times. The videos were filmed using a production Model 3 equipped with hardware identical to customer vehicles - but running an engineering test version of the software. Tesla says they plan to evolve its vehicles towards unsupervised Full Self-Driving capabilities, with all of their current models - the Model S, Model 3, Model X and Model Y - equipped with Autopilot which will receive updates to enhance driver assistance features. On their website, Tesla says they have used billions of miles of anonymous real-world driving data to train its Full Self-Driving system. They claim that, when activated, their vehicles can navigate almost anywhere with active supervision, requiring only minimal input. On-board cameras with 360-degree visibility monitor blind spots, allowing the cars to seamlessly shift into neighbouring lanes while maintaining speed and avoiding bikes, motorcycles and other vehicles. The self-driving Tesla will also automatically identify and manoeuvre into both perpendicular and parallel parking spots with ease. Despite previous promises for self-driving cars to be rolled out in 2026., the new government has put back the date to the second half of 2027. It is estimated that this new industry has the potential to be worth £42billion and provide 38,000 jo b s by 2035. Limited self-driving technology is currently permitted on UK roads, but a human driver must be behind the wheel at all times. Recently, Uber revealed they were working with 18 automated car tech companies to help meet this new demand. According to a 2024 YouGov poll, 37 per cent of Brits would feel 'very unsafe' travelling in a driverless car, although Americans seem to have quickly adapted - with the tech available in Arizona and California with self-driving taxi firm Waymo offering services in Phoenix, San Francisco, Los Angeles and parts of Silicon Valley. In a recent statement the Department of Transport said: 'We are working quickly and will implement self-driving vehicle legislation in the second half of 2027. 'We are also exploring options for short-term trials and pilots to create the right conditions for a thriving self-driving sector.'
Bloomberg
27-05-2025
- Automotive
- Bloomberg
BYD Shares Extend Losses as Price Cuts Throw Spotlight on Sales
BYD Co. shares extended losses in Hong Kong trading Tuesday — taking their two-day slide to more than 10% — as last week's sweeping price cuts stoked concern of another wave of discounting in China's cutthroat electric car market. The stock fell as much as 4% in morning trading, following Monday's 8.6% drop. The selloff was sparked after the EV giant announced cuts of as much as 34% on 22 electric and plug-in hybrid models in China until the end of June.
