Reports suggest that the Trump team plans to cancel the $7,500 tax credit for electric autos, leading to a sharp drop in electric car stocks.

The Trump team is considering canceling the $7,500 electric vehicle subsidy policy to fund its tax reduction plan. This policy is one of the measures adopted by the Biden administration to combat inflation. Trump supporters and the oil industry hope to cancel electric vehicle tax incentives, while the auto industry groups are calling for retention. Musk believes that canceling the subsidy policy will not have a significant impact on Tesla, but will rather cause more trouble for competitors. Electric vehicle stocks plummet, with Tesla down 5.77% and "Tesla rival" Rivian down 14.3%.

wallstreetcnNov 14 16:17 ET

Ningde Zeng Yuqun: Musk does not understand batteries, the "zero carbon" power grid will be ten times larger than the electric vehicle battery business.

Musk's bet on cylindrical batteries (i.e., 4680) "will fail and will never succeed." "We had a very intense debate. He (Musk) was silent because he did not know how to manufacture the battery. This is about electrochemistry, and he is good at chips, software, hardware, and machinery."

wallstreetcnNov 13 08:17 ET

The biggest dark horse of the car circle was born this year.

Charge towards the giants.

wallstreetcnNov 12 09:51 ET

byd company limited firmly holds the iron throne

Intensifying competition.

wallstreetcnNov 8 06:09 ET

Tesla's domestic sales in October increased by over 40% year-on-year. Domestic suppliers are expected to continue benefiting.

① Overnight, Tesla's stock surged over 14%, hitting a new high since July 2023. According to media statistics, Tesla's domestic sales in October exceeded 0.04 million vehicles, a 41% year-on-year increase. ② Huaxi Securities pointed out in the research reports that in the medium term, Tesla's layout of new models + new factories + new technologies, rapid response from domestic suppliers, strong cost optimization capabilities, and industry chain related symbols are expected to continue to benefit.

cls.cnNov 6 18:55 ET

Byd company limited's financial insurance performance report for the first three quarters: average vehicle premium has dropped to 4700 yuan, single-quarter premium surged by nearly 0.5 billion but still difficult to make profit.

①BYD Company Limited's insurance business achieved insurance business revenue of 0.478 billion yuan in the third quarter, a staggering increase of 611.09% compared to the previous quarter; ②In the third quarter, BYD Company Limited's insurance business incurred a net loss of 0.106 billion yuan, a shift from profit to loss compared to the second quarter; ③In the first three quarters of 2024, BYD Company Limited's average vehicle insurance premium reached 4700 yuan, a decrease of 200 yuan compared to the previous period.

cls.cnNov 6 06:44 ET