XPEV - Tesla Stock At 6-Month High Orders Trickle In For Canoo Nio CFO Departs And More: Biggest EV Stories Of The Week | Benzinga
Most electric vehicle stocks advanced in the week that ended on July 5, led by market leader Tesla, Inc. (NASDAQ:TSLA), with the broader market strength also contributing to the upside. Tesla shares are now in the green after the company reported better-than-feared deliveries.
Here are the key events that happened in the EV space during the week:
Tesla Knocks Off Lowered Number: After prolonged weakness, Tesla shares turned the corner, thanks to a second-quarter deliveries report that came in better than expectations. Analysts attributed the positive number to the lavish financing options facilitated by the company. Skeptics weren’t impressed as they pointed to the sharply lowered estimate ahead of the report and the year-over-year sales decline.
Tesla has moved past one of its key catalytic events unscathed, and all eyes are now focused on the second-quarter earnings report that is due on July 23.
Tesla continues to find favor with authorities in China. A CnEVPost report said multiple state-owned enterprises in Shanghai have purchased Model Ys as part of the city’s efforts to optimize the business environment and demonstrate equal treatment for domestic and foreign companies.
On the other hand, the company’s progress in China’s neighbor, India, hasn’t been encouraging. A Bloomberg report said Tesla executives have stopped contacting Indian officials regarding the ...