Citron founder Andrew Left, known for a few short calls, recommended Nio shares, now worth $ 45 each, to $ 7 two years ago. Now his name is short and he says about the recent gains made by several electric vehicle manufacturers, “The fact is that retail investors take everything to be the next Tesla.”
Evelyn Cheng | CNBC
Attention, Tesla.
Morgan Stanley expects double-digit gains for Chinese car stocks, given strong sharp growth as the industry moves rapidly toward technological improvements.
“China’s competition for electric vehicles (electric vehicle) will be more of a technological battle in 2021,” analysts said.
For the new energy car market, analysts raised their forecasts by about 200,000 vehicles to 1.7 million sales in China this year, up about 41% from a year ago. NEVs or new energy vehicles include plug-in hybrids and electric vehicles.
“The NEV market is giving more importance to software and hardware technology features in 2021,” Morgan Stanley said in a January 28 report.