BYD, Nio, Xpeng etc EVs piled up at EU ports amid slowdown in sales
$BYD COMPANY(01211.HK$ $XPeng(XPEV.US$ $NIO Inc(NIO.US$ $Tesla(TSLA.US$ The article reported that a growing number of imported electric cars, many of them from China, are stuck at the ports of Europe as manufacturers and distributors struggle with a slowdown in sales.
The ports of Antwerp and Zeebrugge in Belgium are reportedly flooded with EVs from China. Le Monde reported that at Calloo, near Antwerp, and Zeebrugge, the huge parking lots to accommodate 130,000 freshly shipped vehicles, are cramped now with Chinese models, including MG, BYD, Nio, XPeng, Lynk & Co, Omoda, Hongqi, among others.
My Take: EU is accusing Chinese EV makers of causing the "overcapacity" problem and currently conducting subsidy probe on 3 Chinese EV brands - BYD, SAIC and Geely (Tesla is not in the list). The investigation should conclude in July. See report: BYD, SAIC & Geely Failed to Give sufficient info for EU Anti-subsidy Investigation
The ports of Antwerp and Zeebrugge in Belgium are reportedly flooded with EVs from China. Le Monde reported that at Calloo, near Antwerp, and Zeebrugge, the huge parking lots to accommodate 130,000 freshly shipped vehicles, are cramped now with Chinese models, including MG, BYD, Nio, XPeng, Lynk & Co, Omoda, Hongqi, among others.
My Take: EU is accusing Chinese EV makers of causing the "overcapacity" problem and currently conducting subsidy probe on 3 Chinese EV brands - BYD, SAIC and Geely (Tesla is not in the list). The investigation should conclude in July. See report: BYD, SAIC & Geely Failed to Give sufficient info for EU Anti-subsidy Investigation
If proven guilty, heavy tariffs will be imposed on the imported Chinese EV. Recently the US government has passed a law to impose additional 100% tariffs on Chinese EVs which is expected to execute in August.
Source:
$BYD COMPANY(01211.HK$ $BYD Co.(BYDDF.US$ $S&P 500 Index(.SPX.US$ $Nasdaq Composite Index(.IXIC.US$ $Tesla(TSLA.US$ $VOLKSWAGEN A G(VWAGY.US$ $NIO Inc(NIO.US$ $Li Auto(LI.US$ $XPeng(XPEV.US$ $General Motors(GM.US$ $Ford Motor(F.US$ $Rivian Automotive(RIVN.US$ $MERCEDES-BENZ GROUP AG(MBGAF.US$ $TOYOTA MOTOR CORP(TOYOF.US$ $GEELY AUTO(00175.HK$ $Stellantis NV(STLA.US$
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I reflected trading experiences by writing journals. My comments are for educational purposes not financial advice.
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RiotMaraMan : WOW...NIO will now probably collapse to $1.
ZnWCOP RiotMaraMan: Your comment is too extreme. A more possible prediction is the CEO may dilute the share further by selling more convertible bonds or call for reverse split. Whichever way, retail investors will pay the bill.
Nio, BYD & Xpeng EV makers taking longer to pay bills amid rising stress
https://www.moomoo.com/community/feed/112477481926662?share_code=011tkL
74216494 ZnWCOP: NIO should approach XIAOMI to do OEM manufacturing. Or did most of NIO workers leave already, p... off because their losses in company shares bigger than income from work in the factory ? ONVO is/will be next reason for increasing losses. XIAOMI had the right approach, just copy a Porsche and then sell a car, people want. NIO buys a vine yard in France. Pathetic, the Leading ZERO, Nr. LiE, the CEO.
RiotMaraMan ZnWCOP: Yes you are rught ....maybe a bit too extreme...thats because i just read US will increase its tariff on NIO 4 times. NIO will try to circumvent import via Mexico but US and Mexico are going to block it....then I read this article. I am only playing the US stock market....seems they puled the rug from under NIO preventing it from doing well in the US market.
ZnWCOP RiotMaraMan: Blocking Beijing's circumvention effort can be done by amending the USMCA (US-Mexico-Canada Agreement) or through supplemental agreements, or an investment screening mechanism separate from the USMCA, she told VOA. "I'm sure there are other alternatives as well that are being explored."
Nio's and BYD's plans to export EV to the US thwarted by New Tariffs
https://www.moomoo.com/community/feed/112456927084554?share_code=00ZQtI