tl;dr
Tesla (NASDAQ:TSLA) was volatile in mid-day trading on Friday after a report indicated that the electric vehicle giant has canceled plans to develop the Model 2, which has been highlighted as a vehicle that could be sold to the mass market. Multiple sources told Reuters that Tesla (TSLA) will conti...
Tesla (NASDAQ:TSLA) was volatile in mid-day trading on Friday after a report indicated that the electric vehicle giant has canceled plans to develop the Model 2, which has been highlighted as a vehicle that could be sold to the mass market. Multiple sources told Reuters that Tesla (TSLA) will continue to develop self-driving robotaxis on the same small-vehicle platform as was being considered for the Model 2. Elon Musk has promised for years that a long-term goal of Tesla (TSLA) was to offer an affordable electric vehicle that could be priced between $25K and $30K. The promise of a new mass-market model has underpinned some of the bullish ratings on the EV stock. As recently as December, Musk said the Austin-based company was working on a low-cost electric vehicle that will be made at very high volume. "We're quite far advanced in that work. I review the production line plans for that every week," he stated. Elon Musk immediately responded on X that the Reuters report was false. In the backdrop of the Tesla (TSLA) Model 2 drama, pricing competition in China has cut into margins for EV players such as BYD Company (OTCPK:BYDDF), Nio (NIO), Li Auto (LI), and XPeng (XPEV). Shares of Tesla (TSLA) fell more than 6% before paring that drop to -3.05% at 11:44 a.m.
More about Tesla Inc
Tesla, Inc. is an American electric vehicle and clean energy company based in Palo Alto, California. Tesla's current products include electric cars, battery energy storage from home to grid-scale, solar panels and solar roof tiles, as well as other related products and services. In 2020, Tesla had the highest sales in the plug-in and battery electric passenger car segments, capturing 16% of the plug-in market (which includes plug-in hybrids) and 23% of the battery-electric (purely electric) market. Through its subsidiary Tesla Energy, the company develops and is a major installer of solar photovoltaic energy generation systems in the United States. Tesla Energy is also one of the largest global suppliers of battery energy storage systems, with 3 GWh of battery storage supplied in 2020.
Industry: MANUFACTURING, MOTOR VEHICLES & PASSENGER CAR BODIES
Market Cap: 544.95 Billion
Current Price: $739.79
Dividend Yield: None
Price to Earnings Ratio: 4.3
EPS: 30.49
Return on Equity: 15.5%
Revenue: 96.77 Billion
Gross Margin: 190.6%
Debt to Equity: 1.115
Current Ratio: 0.035
More about Nio Inc Class A ADR
Nio Inc Class A ADR Summary Nio Inc Class A ADR Summary
Nio Inc. designs, develops, manufactures, and sells smart electric vehicles in mainland China, Hong Kong, the United States, the United Kingdom, and Germany. The company is headquartered in Shanghai, China.
Industry Information
Industry: MANUFACTURING
Sector: MOTOR VEHICLES & PASSENGER CAR BODIES
Standard Industrial Classification (SIC) Code: 9404729000
Financial Data
Market Cap: $55.62B
Price to Earnings Ratio (P/E): -1.73
EPS: $32.71
Dividend Yield: -0.38
Shares Outstanding: 1.52B
Public Float: 556.18M
Beta: 0.065
More about Li Auto Inc
Company: Li Auto Inc.
Description: Designs, develops, manufactures, and sells smart electric sport utility vehicles (SUVs) in China. Headquartered in Beijing, China.
Industry: Manufacturing - Motor Vehicles & Passenger Car Bodies
Market Cap: $30.32 billion
PE Ratio: 19.64
Dividend Yield: None
Beta: 1.54
Current Price: $125.87
50-Day Moving Average: $94.50
Market Cap (intraday): $123.85 billion
EPS: $52.91
Forward PE Ratio: 20.90
PEG Ratio: 1.364
More about Xpeng Inc
Xpeng Inc Summary
Xpeng Inc. designs, develops, manufactures and markets smart electric vehicles in the People's Republic of China. The company is headquartered in Guangzhou, the People's Republic of China.
Industry: MANUFACTURING, MOTOR VEHICLES & PASSENGER CAR BODIES
Market Cap: $7,544,602,000
Dividend Yield: None
P/E Ratio: -1.59
Current Price: $35.24
Price Change: -0.338
Volume: 30,676,066,000
EPS: $14.42
EPS Change: -0.385
Book Value: $1.539
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