Citron founder Andrew Left, known for some great short calls, recommended Nio shares, now worth $ 45 each, at $ 7 two years ago. Now he is abbreviated and says of the recent gains at several EV manufacturers: “The fact is, retail investors regard everything as the next Tesla.”
Evelyn Cheng | CNBC
Watch out, Tesla.
Morgan Stanley expects double-digit gains for China’s electric car stocks, given the strong growth forecast as the industry moves quickly towards technological upgrades.
“China’s EV (electric vehicle) competition will be another technological battle in 2021,” said analysts.
For the new energy passenger car market, analysts have increased their forecast by about 200,000 vehicles, to 1.7 million in sales in China this year, an increase of about 41% over the previous year. NEVs, or new energy vehicles, include plug-in hybrids and electric vehicles.
“The NEV market is attaching greater importance to technology hardware and software resources in 2021,” said Morgan Stanley in a report dated 28 January.