XPEV - Ripples From Tesla's Woes Reach Asia's EV Suppliers After Q4 Results | Benzinga
Following Tesla Inc.’s (NASDAQ:TSLA) disappointing fourth-quarter results, the stock prices of its Asian suppliers and electric vehicle (EV) competitors have taken a hit.
What Happened: As reported by CNBC, Tesla’s shares fell on Wednesday after the company’s fourth-quarter earnings missed expectations, with the company also warning of a slowdown in sales for the year. This has had a ripple effect on its Asian suppliers and EV competitors, with their stock prices also tumbling.
South Korean display manufacturer LG Display, a major supplier of car displays for Tesla’s Model 3, saw a drop of over 4%. Battery suppliers LG Energy Solution, Panasonic Holdings, and Samsung SDI also experienced declines. LGES registered a 3.8% loss, while Panasonic saw a dip of more than 2%, and Samsung SDI fell by 1.3%.
Chinese EV manufacturer BYD (OTC:BYDDF), which surpassed Tesla as the world’s top-selling ...