Tesla slides 3%, Li Auto sinks 8% as EV makers slash prices amid fierce competition
Publishing timestamp: 2024-04-22 13:13:41
Summary
Tesla and Li Auto cut prices of their electric vehicles in China, leading to a drop in their stock prices. Competition in China's EV market is intensifying, with local automakers aiming to outsell Tesla with advanced technology and competitive pricing. Industry experts believe that price discounts are just one part of the strategies being used by major EV players in China to survive the upcoming wave of industry consolidation.
Sentiment: MIXED
Tickers: 2015-HK, 9868-HK, ZE594-CN, TSLA, 9866-HK, 1211-HK,
Keywords: xpeng inc, nio inc, hong kong, breaking news: markets, stock markets, technology, china, south asia, breaking news: technology, asia news, east asia, markets, byd co ltd, tesla inc, asia economy, climate, business news, li auto inc,
Source: https://www.cnbc.com/2024/04/22/tesla-shares-slide-li-auto-sinks-as-ev-makers-slash-prices.html