Tesla, Inc. TSLA shares may be relatively attractive, given their recent underperformance, but a portfolio manager said he is not too keen on owning the stock yet.
After announcing tariffs on China-built electric vehicles (EVs) that would amount to up to 38% on July 4, the European Union is backtracking in some cases, most notably in the case of U.S.-based carmaker Tesla (NASDAQ: TSLA).
It has been facing fierce competition from China car makers and the levies will give it an advantage but also has a downside.
The 9% tariff is much less than the up to 36.3% others face after investigation into Beijing's ‘unfair' subsidies of EVs
The European Union on Tuesday said a planned tariff on Tesla vehicles being imported from China would be cut to 9% from 20.8%.
The European Commission cut on Tuesday its proposed tariff on imports of Tesla cars built in China, as it broadly maintained other planned punitive duties it set in July on Chinese-made electric vehicles.
The European Commission will on Tuesday propose final tariffs of up to 36.3% which it intends to impose on electric vehicles built in China - a slightly lower level in comparison with initial rates set in July - although Tesla cars was given a hefty reduction of its rate, at 9%, an MLex journalist reported.
NEW YORK, NY / ACCESSWIRE / August 19, 2024 / Pomerantz LLP is investigating claims on behalf of investors of Tesla, Inc. ("Tesla" or the "Company") (NASDAQ:TSLA). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext.
Here's everything you need to know about the electric vehicle maker's week.
U.S. stocks settled higher on Friday, with the S&P 500 recording its best week since Nov. 2023. The S&P 500 gained around 3.9%, while the Nasdaq and Dow Jones gained 5.2% and 2.9%, respectively, last week.
Tesla's TSLA 0.92%increase; green up pointing triangle inability to roll out its most advanced driver-assistance features in China has put the automaker behind its Chinese electric-vehicle rivals.
Its big rival in China, will post earnings Tuesday which should reveal its progress cracking the international market.