Tesla
Tesla (TSLA-US), the world's leading electric vehicle company, fell 1.70% to $215.49 per share on Friday (18th), continuing its decline for the sixth consecutive trading day, the longest decline since December last year.
Tesla launched a new wave of price wars in China this week, but they couldn't stop worrying about shrinking profits. After cutting the price of the two high-end models of the Model Y by 4.5% on Monday, Tesla also cut the price of some Model S and Model X models by 10,000 US dollars on Wednesday.
Earlier, during Tesla's second quarter earnings call in July, CEO Musk reiterated his position that sales growth is more important to Tesla than pricing.
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ZnWC : Last Friday Xpeng fell 7% (pre market), NIO fell 7.22%, BYD fell 3.76% (HK stock). You should report the above EV stocks which are more serious. Most EV stocks fell 6 consecutive days.
ZnWC : Other EV companies in China is also doing price cutting. Some companies reported net loss so price cut will further reduce gross margin and stocks fell. Read here for more details:
Hong Kong's NEV stocks fell across the board. BYD share plummeted by more than 8%.