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Tesla's stock has plummeted to $430, significantly below its target of $515, amid increasing competition and tariffs, leading to a ninth consecutive week of losses. Major banks, including JP Morgan and Wells Fargo, have downgraded their price targets, citing weak demand and stagnant sales across key markets like Europe and China. Analysts express concerns over Tesla's future, with some predicting continued challenges without new vehicle launches.
Huawei's Harmony Intelligent Mobility Alliance has entered the competitive Chinese auto market with a new financing policy for its Luxeed S7, offering no interest for three years or low rates for five years, potentially saving customers up to CNY17,000. This move follows similar initiatives from other automakers like Nio, Tesla, and Xpeng Motors, all of which are engaging in aggressive pricing strategies amid a rapidly evolving landscape that emphasizes technological advancements in smart driving and AI integration. Industry experts predict that the next few years will be critical for market consolidation, with intelligent capabilities becoming essential for success.
SAIC Motor's shares fell 2.6% after reports emerged of a collaboration with Huawei to launch a new EV brand named Shangjie, targeting younger consumers with prices between CNY170,000 and CNY250,000. The first model is expected in Q4, based on an existing SAIC design, integrating Huawei's technology. Despite a significant sales decline last year, SAIC is moving forward with this partnership as competition in the EV market intensifies.
Dongshun Cui
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Tesla stock faces continued decline amid competition and demand concerns
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