Lithium stocks are getting clobbered so far in 2023. That isn't surprising. As is the case with all basic materials and mining companies, the price for the element -- a key ingredient in batteries for smartphones and electric vehicles (EVs) -- is highly sensitive to even small ch
Growth in sales of China's passenger vehicles was flat in March from a year earlier, industry data showed on Monday, as more price cuts by auto brands and the rollout of incentives by local governments helped to support demand.
Indonesia will propose a free trade agreement for some minerals shipped to the United States so that companies in the electric vehicle battery supply chain operating in the country can benefit from U.S. tax credits, a senior minister said on Monday.
Indonesia will propose a free trade agreement for some minerals shipped to the United States so that companies in the electric vehicle battery supply chain operating in the country can benefit from U.S. tax credits, a senior minister said on Monday.
(RTTNews) - Tesla will build a new mega factory in Shanghai, which will be dedicated to manufacturing its energy-storage product "Megapack", the U.S. carmaker said in a tweet on Sunday.
When The Future of Life organization released an open letter calling for a six-month pause on the development of a generative artificial intelligence (AI) technology, one signatory stood out above all others.
Tesla remains top of the heap in electric vehicle (EV) sales, but there was a bit of a change in the race of competitors trying to catch the leader in the U.S. market.
Unusual options activity is often ignored by many investors, but for some, it plays a key role in their trading strategies and approach. When big institutions make their move in the options pit, they can’t hide once the volume shows up and the open interest is logged.
Tesla Inc is opening a factory in Shanghai, capable of producing ten thousand Megapack energy product per year, to supplement output of Megapack factory in California, the company said in a tweet on Sunday.
Tesla (NASDAQ: TSLA) has done an excellent job increasing profit margins while expanding sales explosively. That said, competition is soaring, which could hurt Tesla's impressive profit margins. In this video, I'll give you three reasons to buy the stock and one reason to steer c
In this week's video, I cover everything you need to know about news related to Tesla (NASDAQ: TSLA) during the week of April 3. Today's video will focus on Tesla's continued domination in Europe, new price cuts and why they make sense, Master Plan 3, and a possible new board mem
"Should we develop nonhuman minds that might eventually outnumber, outsmart, obsolete and replace us? Should we risk loss of control of our civilization?" These questions were asked in a March open letter referring to artificial-intelligence (AI) technology -- an open letter sign
U.S. safety authorities said on Friday they are investigating whether an advanced driver assistance system was in use when a Tesla struck a 17-year-old student that exited a school bus in North Carolina.
Electric vehicle (EV) maker Tesla (
NASDAQ:TSLA
) plans to use iron-based batteries in its semi light (short range heavy trucks) electric trucks and an affordable EV model, as indicated by the company in its Master Plan Part 3 paper. The use of lithium iron phosphate (LFP) batteries, which are generally cheaper than nickel and cobalt-based lithium-ion batteries, will help the company reduce its manufacturing costs.
Transition to LFP Batteries in EVs
The use of LFP batteries will also help Tesla address supply concerns related to nickel and cobalt, as iron ore is relatively abundant and costs less to extract and refine. Also, LFP batteries are generally considered to be more stable and safer because they are less likely to catch fire compared to batteries with nickel and cobalt. However, iron-based batteries are larger and heavier. Moreover, they have a shorter range as they generally hold less energy than nickel-based batteries.
Tesla intends to use LFP batteries in its Model Y and Model 3 vehicles as well, though it did not provide a timeline. The company plans to use LFP batteries with capacity of 53 kilowatt-hours (kWh) in its planned small affordable electric vehicles, compared to 75 kWh for Model Y and Model 3. As of now, Tesla uses nickel-based batteries in most of its Model 3 and Model Y vehicles in the U.S.
The leading EV maker, which is led by CEO
Elon Musk, currently sources its LFP batteries from China-based Contemporary Amperex Technology Co. Ltd (CATL). Most of the LFP battery production is concentrated in China, which could pose risks due to the ongoing U.S.-China tensions. Further, automakers need to use battery components produced in North America to take advantage of the federal tax credits for EVs.
Recently,
Bloomberg reported that Tesla is looking to build a battery plant in the U.S. and spoke with White House officials about the same. Sources told
Bloomberg that the plan involves CATL. Tesla apparently wants to strike a deal similar to the one announced by Ford (
NYSE:F
) in February.
Ford is collaborating with CATL on building a new $3.5 billion battery plant for EVs in Michigan. However, the company will own the new facility through a wholly owned subsidiary instead of operating it as a joint venture with CATL. Production at this plant is expected to commence in 2026. Meanwhile, Ford plans to introduce LFP batteries in its Mustang Mach-E SUV this year and F-150 Lightning electric truck in 2024.
Aside from Tesla and Ford, Mercedes-Benz Group AG (
MBGAF
), Volkswagen AG (
VWAGY
), and Rivian Automotive (
RIVN
) have also announced plans to use LFP batteries in some of their vehicles.
Is Tesla a Buy, Sell, or Hold?
Reducing EV production costs through the use of LFP batteries and other initiatives is very crucial for Tesla, given the rising competition in the EV space. Meanwhile, Tesla continues to slash its prices to spur demand, including the
price cuts implemented this week.
Wall Street is cautiously optimistic about Tesla, with a Moderate Buy consensus rating based on 19 Buys, 10 Holds, and three Sells. The average
TSLA stock price target of $219.57 implies nearly 19% upside potential, even after the significant year-to-date rally.
Disclosure
What happened
Shares of Tesla (NASDAQ: TSLA) fell by as much as 13.4% this week, according to data from S&P Global Market Intelligence. The leader in electric vehicles (EVs) and one of the most valuable stocks in the world posted disappointing delivery numbers for the first q
What happened
Just when it looked like Nio (NYSE: NIO) shares were on an upswing from multiyear lows, the stock of the Chinese electric-vehicle (EV) manufacturer took another plunge this week. Nio's American depositary shares sank by 14.3% in the shortened trading week, according
What happened
Valuations for electric vehicle (EV), fuel cell, and charging companies came under pressure this week, and Canoo (NASDAQ: GOEV), Plug Power (NASDAQ: PLUG), and Enphase Energy (NASDAQ: ENPH) saw big valuation pullbacks. The companies' stocks fell 20%, 20.9%, and 9.2%
With Tesla's (NASDAQ: TSLA) first-quarter update on vehicle deliveries out, investors now have some data to chew on to inform their estimates for the full year. Will the electric car maker be able to keep up the staggering growth it served investors last year? Or could an uncerta
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