Tesla bet big on building out its Supercharger network in the US. Now it's doing the same thing in China on the famous Silk Road.
Net orders of Tesla's in China fell to roughly 9,800 in May from over 18,000 in April, according to a report from The Information.
Wedbush reiterated its outperform rating and $1,000 price target for Tesla on Monday, saying the chip shortage will lead to only temporary setbacks.
"Eye popping demand" in China will drive Tesla's market cap significantly higher in 2021, according to Wedbush analyst Dan Ives.
A Beijing court ordered Tesla to pay $US175,000 to a secondhand Model S buyer for concealing crash damage, Chinese outlet Caixin reported. The buyer discovered that parts of the car were welded together after it broke down multiple times, Caixin said. The used cars Tesla sells are supposed to exhibit […]
Tesla is recalling around 30,000 Model S and X vehicles in China, the country’s State Administration for Market Regulation said Friday. Tesla issued the recall because of two different suspension defects, but some vehicles may have both, regulators said. The recall impacts the bulk of imported Model S and Model […]
Wedbush analyst Dan Ives raised his price target for Tesla shares to $US475 from $US380 on Thursday, citing stronger-than-expected deliveries in China. The new target implies a 12% gain from the automaker’s Thursday closing price of $US423.43. China is a “key market” for Tesla that could make up 40% of […]
Tesla registered 24% fewer cars in China during July than it did in June, a state-backed group said. The slump comes as the world’s largest market makes a rebound from pandemic-induced lows. China is increasingly important to Tesla’s success, but competitors are slowly beginning to encroach. Visit Business Insider’s homepage […]
China is growing as a profit centre for Tesla, and the country reported a rebound in car sales in July on Tuesday. It’s good news for the world’s largest auto market, and potentially even better news for Tesla. However, electric vehicles are still under pressure following the cutting of a […]
Tesla registrations, a key indicator for sales, fell dramatically in April and May in California, according to new data. The largely unsurprising news did little to shake investor confidence in the high-flying stock. It’s the first look into how Tesla’s second quarter is faring after a surprise first-quarter profit. Visit […]
Car sales in China rose in May for the first time in nearly a year, the China Passenger Car Association said Monday – and Tesla’s were the best-selling new energy vehicles. Shares of Tesla surged as much as 5.4% Monday, surpassing the company’s February all-time high close. The gains put […]
Tesla paused production at its Shanghai factory, Bloomberg News reported Thursday. The plant was supposed to resume following a holiday that ended May 5. With Fremont, California also halted because of the coronavirus, Tesla’s vehicle production is effectively brought to zero. Visit Business Insider’s homepage for more stories. Tesla has […]
On Friday, Alexander Potter of Piper Sandler increased his Tesla price target to $US553 from $US423 after analysing China vehicle registration data. It’s now the highest Tesla price target on Wall Street, and is roughly 15% higher than where shares traded at market close Thursday. “If Tesla’s Model 3 market […]
Tesla CEO Elon Musk visited the company’s new China factory on Tuesday to announce its forthcoming Model Y would be built there. The company will not just make models for sale in the country there, Musk added, a move it’s also been eyeing with a new German plant. China-built cars […]
Tesla’sChina factory could open sooner than expected, Morgan Stanley told clients Wednesday. The company has said if that happens, it could make 500,000 total vehicles this year. However, China’s auto market has been on the skids for nearly a year now, and reported its worst-ever monthly drop in sales in […]
A faulty battery module was to blame for a Tesla vehicle fire in a Shanghai parking garage in April. The flames were captured on security video that appeared to show the car self-igniting. It was not charging at the time. Tesla said it has updated the thermal management and charging […]
Tesla on Friday announced that its Model 3 sedans produced in China would start at about $US47,500 there. That’s about 13% less than the lowest price currently offered to Chinese consumers for the vehicles, which are shipped from the US. More expensive versions of the sedan will run as high […]