Amsted Automotive will present its advanced drivetrain and metallurgy manufacturing technologies at TMC2024, highlighting solutions for the growing demand for electrified powertrains. The company will showcase its Multi-Functional Shift Systems, providing novel and flexible solutions for EV and HEV powertrain systems, along with a range of other technologies from its businesses.
Hyundai Motor Company and Hilton Grand Vacations APAC & Hawaii (HGV) have announced a collaboration to enhance the customer EV experience and attract potential customers in key tourist destinations across Hawaii. The partnership will offer premium customer experiences and sustainable mobility solutions, leveraging Hyundai’s ‘Hyundai Mobility Passport’ program, initially launched in Oahu Island and expanding to Kona this summer.
Ola Electric, led by Bhavish Aggarwal, has achieved a significant milestone, registering a 107% year-on-year growth in EV two-wheeler registrations during June 2024. The company’s expansive S1 portfolio, encompassing various price points, has contributed to its market leadership and accessibility. Ola Electric has also surpassed 2 lakh registrations in 2024, becoming the first EV two-wheeler company to achieve this landmark within the first half of the year. Furthermore, Ola Electric has received SEBI’s approval for its IPO, marking a crucial step in its growth journey.
Tesla is expanding its lineup with three new models in the pipeline, adding to its existing five. These new vehicles could include a budget-friendly EV, the much-anticipated Tesla Cybercab, and potentially a rugged SUV or the long-awaited Tesla Roadster. While details are scarce, speculation and rumors abound, leaving fans eager for the company’s next move.
Lucid Motors’ Air sedan comes in four flavors for 2024, ranging from the affordable and efficient Pure to the performance-focused Sapphire. We drove all four to see how each variant stacks up and why the Air remains a standout in the EV market.
Elon Musk’s recent visit to Indonesia to launch Starlink internet services has sparked discussions about a potential trip to Sri Lanka. While Musk had planned to visit India in April, the trip was canceled due to heavy obligations, and no update has been provided on Tesla’s entry into the Indian market. Despite Musk’s active foreign trips, including a surprise visit to China, India awaits official plans for Tesla’s domestic entry.
Tesla’s recent financial performance and uncertain business outlook raise concerns about its near-term prospects. While the company’s long-term potential remains strong, investors should brace for continued challenges in the coming quarters. Despite a post-earnings bounce, Tesla’s stock is still undervalued based on TQI’s valuation model, indicating a modest buying opportunity. However, it’s crucial to approach this investment with caution and consider a slow, staggered buying strategy.
EV maker Polestar has partnered with Chinese smartphone manufacturer Meizu to launch its first smartphone, aptly named the Polestar Phone. Based on the Meizu 21 Pro, the Polestar Phone boasts impressive specifications and features that make it a standout device. However, its availability is limited to China for the time being.
Citi analysts have raised their target price for Xiaomi due to increased confidence in the company’s electric vehicle (EV) ambitions and expectations for a manageable decline in its smartphone segment. Xiaomi’s target price has been increased to HK$21.90 from HK$19.60, representing a potential upside of 35%. The brokerage has also raised its earnings forecasts for Xiaomi, citing a better-than-expected outlook for its EV business.
Tesla is set to release its earnings report, with analysts expecting earnings per share of $0.49 and revenue around $22.27 billion. Tesla shares have declined by over 43% since the beginning of 2024 and are down 3% in Monday’s trading session. Analysts at Deutsche Bank and Wells Fargo have downgraded Tesla due to concerns about deliveries, pricing, and earnings. Wells Fargo maintained its Underweight rating and lowered its full-year deliveries forecast to -12% year-on-year. BofA analysts believe that Tesla will face mounting profit pressure due to weaker demand. Meanwhile, Morgan Stanley reiterated an Overweight rating and $310 price target, stating that consensus expectations must stop falling for the stock to outperform.
