EV Market Shakers: XPeng G6 Launch and Tesla's Downgrade
- June 26th, 2023
- 232 views
XPeng Inc. (NYSE: XPEV), a leading Chinese electric vehicle manufacturer, is poised to have a significant impact on the automotive market with the highly anticipated launch of its XPENG G6 Ultra Smart Coupe SUV. This revolutionary vehicle, developed under XPeng's next-generation vehicle technology architecture SEPA 2.0, is scheduled to be released this week, specifically on Thursday, June 29, 2023.
The announcement has already made a positive impression on $XPEV's pre-market trading, resulting in a surge of over 3% with shares reaching $10.24.
In contrast, Tesla, Inc. (Nasdaq: TSLA), a renowned electric vehicle and clean energy company, is facing a different market reaction due to a rating downgrade by Goldman Sachs, who revised their recommendation from Buy to Neutral. Additionally, the investment banking firm adjusted the price target from $185 to $248, which is below the current price of $TSLA.
During pre-market trading, $TSLA is currently valued at $251.61, experiencing a decline of $4.99 (1.94%).
THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY OR DIGITAL ASSET. Please consult with a professional investment advisor before purchasing or selling any securities viewed on or mentioned herein. (Read Full Disclaimer)
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