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Morgan Stanley raises CATL price target & forecasts strong profit growth for 2024

Teslarati

Morgan Stanley forecasted that the Chinese battery supplier will return to solid profit growth later in 2024. CATL’s first Beijing battery plant will supply cells to Li Auto and Xiaomi Auto. The Chinese automaker isn’t just focused on China, though. to RMB 180.85

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BYD Chairman forecasts falling profit margins in 2024

Teslarati

BYD Chairman Wang Chuanfu forecasts falling profit margins in 2024 but remains confident that the company will maintain stable profitability. According to the China Passenger Car Association’s (CPCA) Secretary General Chi Dongshu, China’s auto sector’s profit margins have fallen to 4.3%

BYD 96
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Goldman Sachs raises 2023 forecast for China auto sector to reflect faster-than-expected Covid reopening

CN EV Post

After a disappointing 2022, some tailwinds will drive a recovery in retail sales and production in the Chinese auto sector in 2023, Goldman Sachs said. The post Goldman Sachs raises 2023 forecast for China auto sector to reflect faster-than-expected Covid reopening appeared first on CnEVPost.

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Chinese language automakers to take hold of majority percentage of home gross sales for first week, forecast says

Baua Electric

AlixPartners forecast China’s total auto gross sales would develop 3 p.c It forecast expansion to 30.6 However Chinese language EV makers have additionally received field from a focal point on options reminiscent of complex driving force backup methods even on less expensive automobiles, the company mentioned.

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CRU: Chinese EV sales hit hard by COVID-19 outbreak, but only for short-term

Green Car Congress

The COVID-19 has hit the Chinese EV sector hard; CRU, a provider of business intelligence on the global metals, mining and fertilizer industries, believes that weak sales will last at least until early Q2 2020. Nonetheless, it continues to forecast Chinese EV sales growth in 2020 over 2019’s total.

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Panasonic’s battery unit misses annual profit estimate – ET Auto

Baua Electric

Chinese battery makers grew faster than rivals to account for more than two-thirds of global EV battery capacity last year, according to data from consultancy Counterpoint Research. million) in the year that ended in March, missing its own 113 billion yen forecast, Panasonic said. billion yen (USD 570.18

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BNEF projects impact of COVID-19 on renewables, energy storage, EVs, etc.

Green Car Congress

The global auto market is very sensitive to macroeconomic conditions and will be hit hard by the coronavirus and any economic contraction that accompanies it, BNEF says. Other elements of the note: BNEF cut the global solar demand forecast for 2020 from 121-152GW to 108-143GW. Chart: BloombergNEF.