XPEV - Tesla Calms Investors After Dismal Q1 Fisker Buyout Buzz BYD Enters Pickup Game And More: Biggest EV Stories Of The Week | Benzinga
Tesla, Inc. (NASDAQ:TSLA) led a recovery in electric vehicle stocks in the week that ended on April 26, as the company delivered what its investors wanted to hear in its earnings release and on its earnings call. Firmer broader market sentiment also helped to some extent.
Here are the key events that happened in the EV space during the week:
Tesla Affirms Product Plans And More: After a string of price cuts across its markets, Tesla chose to make peace with investors by reaffirming that it would roll out a low-end model. Analysts have emphasized the importance of an affordable EV in boosting Tesla’s sales from their current slump. The company announced an accelerated start of production for the new model, moving it up from the previously stated “second-half of 2025.” It will incorporate elements of both the next-generation platform and its current platforms, and will be manufactured using existing production lines.
Skeptics, however, suggested that the company’s announcement implied the absence of a sub-$30K car in the pipeline, instead indicating a plan to reduce features in its current lineup.
Tesla reported a double-miss, underperforming relative to both first-quarter earnings and revenue expectations, with its free-cash-flow sinking into negative territory. This prompted even bullish analysts to take down their estimates for the company.
Tesla confirmed on its earnings call that the Tesla Semi, which is now being sold exclusively to PepsiCo., will be manufactured from a new factory in Reno and first deliveries to external customers will begin in early 2026.
Tesla bull Ron Baron said in a CNBC interview this week that, while ...