Chinese EV stocks tank after Tesla earnings disappoint
Publishing timestamp: 2023-10-19 00:30:07
Summary
Tesla's disappointing third-quarter results caused a plunge in the Hong Kong-listed shares of Chinese EV makers. Elon Musk warned that Tesla's Cybertruck would not generate significant positive cashflow for 12 to 18 months after production begins. The EV market is facing intense competition and a price war, with Tesla and other companies lowering their prices to gain market share.
Sentiment: NEGATIVE
Tickers: TSLA, RIVN, LCID, 175-HK, 9866-HK, ZE594-CN, VOW-FF, 2015-HK, 9868-HK, VOW3-DE,
Keywords: tesla inc, elon musk, volkswagen ag, li auto inc, technology, rivian automotive inc, nio inc, breaking news: technology, lucid group inc, autos, byd co ltd, geely automobile holdings ltd, xpeng inc, earnings, business news,
Source: https://www.cnbc.com/2023/10/19/chinese-ev-stocks-fall-after-teslas-disappointing-q3-results.html