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Polestar (PSNY) launches electric SUV in China with $29k price cut

March 20, 2023 2:52 PM EDT

Swedish electric automaker, Polestar (NASDAQ: PSNY) officially launched their Polestar 3 electric SUV in China on Friday. However, the EV maker has slashed its starting price by roughly $29,000.

When the Polestar 3 was first advertised to Chinese... More

Prepare for lower margins as Tesla (TSLA) price cuts become a 'feature' of EV market - Morgan Stanley

March 20, 2023 11:51 AM EDT

Morgan Stanley reiterated an Overweight rating and $220.00 price target on Tesla (NASDAQ: TSLA) as analyst Adam Jonas believes that investors should anticipate further price cuts in EVs.

Jonas wrote in a note, We believe EV price cuts are not a fad, but a trend. While subject to volatility, investors should anticipate further price cuts in EVs with cost-leader Tesla setting the tone.

One of the reasons Jonas... More

Morgan Stanley cuts forecasts on China EVs reflecting headwinds

March 20, 2023 8:16 AM EDT

Morgan Stanley has decided to cut earnings forecasts and price targets on Chinese electric vehicle companys, Nio Inc. (NYSE: NIO), Li Auto (NASDAQ: LI), XPeng (NYSE: XPEV) and BYD after Teslas (NASDAQ: TSLA) price cuts in the country triggered broader price competition. The price cuts, along with weaker YTD sales post stimulus, has pressured the Chinese EV segments 1H23 sales margin.

Carmakers continue to join the price competition by either lowering the MSRP directly,... More