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Not All EV Makers Are Reaping the Rewards of Macro Stimulus
199 Views30 Oct 2024 22:20
SUMMARY
- NIO and XPEV intensified promotions during C3Q24 while LI moderated them. But we see LI possibly need to ramp up its promotion to stir up demand in C4Q24;
- Trade-In has greatly stimulated EV demand and is possible to extend into 2025. But Huawei-affiliated PHEV makers are gaining share while Tesla is readying another round of innovation-led cost reduction;
- Our TOP PICK's of the sector are BYD and Xiaomi. BYD benefits from PHEV and Xiaomi can still benefit from PHEV.
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- Not All EV Makers Are Reaping the Rewards of Macro Stimulus30 Oct 2024
- BYD (1211 HK): 3Q24, Revenue up by 24% Due to Sales Volume Acceleration30 Oct 2024
- [Xiaomi Inc. (1810 HK, BUY, TP HK$27) TP Change]: Surprising SU7 Gross Margin a Huge Positive24 Aug 2024
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