Multiple media reports make it sound like Tesla is under threat in China, from local manufacturers. Is it true? In this note we assess the competitive landscape with an analysis of the cost structure of Tesla relative to peers and its market position by segment.
It is likely that in the next month (and perhaps beyond) the single most important event affecting capital markets will be the election. Over the last month, we have provided six notes on the potential impact of the election, separately focusing on policies affecting telecom, spectrum, media, tech, and leadership, as well as a note on what we think is the most underappreciated potential impact; how a Trump Presidency could result in a dramatic shift in telecom and spectrum policy due to the infl...
China’s PV insurance registrations grew by 0.2% yoy but fell 2.7% mom and 38.8% wow during 30 Sep-6 Oct 24. Major car makers saw a dip in insurance registrations in China last week due to the National Day Holiday. PEV market share dipped by 4.3ppt wow to 45.4%. Tesla’s "We, Robot" event showcased its Robotaxi, Robovan and the new generation of humanoid robots. Chinese part suppliers will benefit from Tesla's new product launches. Maintain MARKET WEIGHT. Top BUYs: CATL, Desay SV and Geely.
We don’t have to convince anyone that Elon Musk is totally committed to electing Trump and Congressional Republicans. We don’t have to convince anyone that given Musk’s level of support, Trump as well as many Republicans in Congress will be happy to have an FCC, NTIA, and other instrumentalities of the Federal Government in charge of telecom generally do what Musk wants. Still, the consequences of those two evident facts are the most underappreciated potential telecom policy consequences of the...
Given that the EV market is not a free market, led by demand and supply, but a distorted market, moved by political intervention in the form of subsidies (or lack of), making EV sales forecasts is very challenging indeed. This is a headache for analysts, but even more so for auto companies with a ten-year planning horizon. In this report, we outline the sales situation for different regions, as well as providing an outlook based on currently available information.
There are reasons to be (very) optimistic about Tesla’s prospects in Robotaxi, and also reasons to be (very) cautious. This makes ideal ground for research, with many unknowns and many potential outcomes. In the work we publish today, we go beyond the believer / non-believer polarizing debate, and instead organize reasons to be optimistic and reasons to be cautious. From there, we outline key technological evolutions that will shape the opportunity, along with potential scenarios. We conclude ...
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