GM-Backed Cruise Said To Be In Talks To Acquire Voyage

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We look at some analysts' notes, news and activity in the electric vehicle and clean energy space.

BEV MARKET

Morgan Stanley analyst Adam Jonas said on Wednesday that Tesla's (TSLA) share of the battery electric vehicle, or BEV, market dropped significantly in February to 69% versus 81% in the prior year. Jonas told investors in a research note that the Ford (F) Mustang Mach-E accounted for nearly 100% of the share loss. BEV sales outgrew the total market by nearly 40%, the analyst added.

CHINA GROWTH

Wedbush analyst Daniel Ives believes China could see "eye popping" demand into 2021 and 2022 across the board with Tesla's flagship Giga 3 footprint a major competitive advantage, as domestic players such as NIO (NIO), Xpeng (XPEV), and Li (LI) are also firing on all cylinders and "just scratching the surface" of the overall market opportunity in China. Further, Ives thinks that the China growth story is worth at least $100 per share in a bull case to Tesla as this EV penetration is set to ramp significantly over the next 12 to 18 months, along with major battery innovations coming out of Giga 3.

CHEAPER BATTERY OPTION FOR P7 MODEL

Xpeng, which is called "one of Tesla's most aggressive competitors in China," plans to offer a cheaper, fast-charging lithium iron phosphate, or LFP, battery pack for its P7 all-electric sedan and pass the cost-savings to its customers as pat of a plan to "help it get ahead in the country's cutthroat vehicle market," reported the South China Morning Post's Daniel Ren on Tuesday.

On Wednesday, XPeng confirmed it has expanded its product offering by launching three new vehicle versions powered by lithium iron phosphate, or LFP, batteries for the Chinese market. The three new LFP-battery powered cars, including the rear-wheel drive P7 Standard Range Smart and Premium models, and the G3 460c model, are now available to order in China, the company said. Retail prices, post subsidies, for the new Smart and Premium P7 are RMB 229,900 and RMB 239,900, respectively. Customer deliveries are expected in May 2021.

Additionally, the company announced this week its vehicle delivery results for February. XPeng delivered a total of 2,223 Smart EVs in February, consisting of 1,409 P7s, the company's smart sports sedan, and 814 G3s, its smart compact SUV. Vehicle deliveries in January and February combined represented a 577% increase year-over-year. February deliveries reflect the anticipated seasonal decline in deliveries due to the slowdown in the week-long Chinese New Year holiday, the company said, adding that it is witnessing robust customer demand as sales and delivery activities resumed after the holiday.

CRUISE IN TALKS TO BUY VOYAGE

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William K. 1 month ago Member's comment

Battery electric vehicles will still demand capabilities that the present grid and generating systems do not yet have, So there will be a few problems.