China gives the green light to nine domestic automakers for AV testing, marking a significant milestone in the global race toward self-driving technology.
Urban transportation is arriving at an inflection point in its history. The high proliferation of lithium-ion batteries, coupled with their increasing sophistication, has ushered in an age for electric vehicles (EVs).
In the world of EV stocks, Tesla (NASDAQ: TSLA ) stock remains king. The U.S. EV maker continues to demand the highest valuation of its peers and is among the most noted and respected brands in the space.
In pursuing robust market gains, investors usually turn to high-risk growth stocks. These stocks have underlying businesses that continue to grow their top lines at a rapid clip, presenting enticing opportunities for upside potential, especially during a bullish market.
Electric vehicle stocks have come under intense pressure this year, and the situation could get ugly in the coming months. Most EV stocks like Tesla (TSLA), Rivian (RIVN), Nio (NIO), Lucid Motors (LCID), and VinFast (VFS) have crashed by double digits this year.
Tesla was overtaken by BYD for a short while last year as the biggest producer of EVs, and this could very well happen again on a more permanent basis. BYD is growing faster than Tesla and is introducing way more new models, but both are facing challenges with momentum. On pure financial performance, we see little reason for the huge valuation difference between the two companies, BYD is actually generating more cash as well as investing more.
China's BYD on Tuesday launched its latest generation of plug-in hybrid technology that achieves a record low fuel consumption of 2.9 litres per 100 km (62.1 miles) on depleted batteries.
Chinese EV stocks to buy have taken the market by storm, with BYD (OTCMKTS: BYDDF ) leading the charge as a clear frontrunner. Not only have they dominated the domestic market, but they continue to spread their tentacles across the globe.
U.S. equities appear to be back in rally mode. The April CPI report is partially responsible.
Ahead of the 2024 presidential election, Paul Krugman has raised questions about whether falling gas prices will positively influence President Joe Biden‘s poll numbers. What Happened: Paul Krugman, a renowned American economist, raised doubts about whether falling gas prices would benefit President Joe Biden‘s poll numbers. According to a post on X on Sunday, Krugman highlighted the political influence of gas prices despite presidents having minimal control over them. “One factor I think is being underrated in political analysis is the price of gasoline. It *shouldn’t* be a political issue, since presidents have very little influence,” Krugman wrote. Krugman noted that futures prices indicate a significant drop in gas prices in the near future. He also pointed out that gas is not historically unaffordable, referencing a comparison of gas prices as a percentage of median weekly earnings. However, Krugman emphasized that partisanship often distorts public perception, even for widely visible prices like gas. He cited a poll where 42% of Republicans believed gas prices were rising last December, despite a prolonged decline. Krugman concluded by questioning whether the expected drop in gas prices would aid Biden or if many would ignore the reality of the situation. “So will gas prices help Biden? Or will large numbers of people refuse to believe their own eyes?” he asked, See Also: Tesla’s Top Rival BYD Reveals Starting Price Of Hybrid Electric Pickup In Mexico Launch — Yes, It’s A Lot Cheaper Than The Cybertruck Why It Matters: The debate over gas prices comes amid a broader discussion about the U.S. economy under Biden’s administration. In a recent interview, Biden claimed he had already turned the economy around, attributing persistent inflation to “corporate greed.” In April, Krugman dismissed fears of rising inflation, citing a survey by the Atlanta Federal Reserve that showed stable inflation expectations. Additionally, global gasoline demand growth is projected to halve by 2024 due to the increasing adoption of electric vehicles in the U.S. and China, which could further impact gas prices. Despite these economic factors, a recent poll revealed that 51% of Americans believe they were better off financially during former President Donald Trump‘s tenure, even though Biden’s administration has overseen significant economic growth and the best job market since the 1960s.
Chinese carmaker BYD Co has postponed plans to produce lithium cathodes for electric vehicle (EV) batteries in Chile by 2025, the firm's Americas head told Reuters on Tuesday.