Xiaomi Unveils New EV Price. It’s More Bad News for Tesla.
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 29 2024
0mins
Should l Buy TSLA?
Source: MarketWatch
- Xiaomi Launches Electric Vehicle: Xiaomi, a Chinese smartphone maker, introduced a new battery electric vehicle called the SU7.
- Priced at $30,000: The SU7 is priced at around $30,000, similar in size to Tesla's Model 3 sedan.
- Specifications: The base model of the SU7 comes with a single motor and offers a range of about 700 kilometers.
- Unveiled by CEO: Xiaomi's CEO Lei Jun unveiled the SU7 in Beijing.
- Competition with Tesla: Xiaomi's entry into the electric vehicle market adds competition to Tesla and other established car manufacturers.
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Analyst Views on TSLA
Wall Street analysts forecast TSLA stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for TSLA is 401.93 USD with a low forecast of 25.28 USD and a high forecast of 600.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
30 Analyst Rating
12 Buy
11 Hold
7 Sell
Hold
Current: 411.110
Low
25.28
Averages
401.93
High
600.00
Current: 411.110
Low
25.28
Averages
401.93
High
600.00
About TSLA
Tesla, Inc. designs, develops, manufactures, sells and leases high-performance fully electric vehicles and energy generation and storage systems, and offers services related to its products. Its segments include automotive, and energy generation and storage. The automotive segment includes the design, development, manufacturing, sales and leasing of high-performance fully electric vehicles, and sales of automotive regulatory credits. It also includes sales of used vehicles, non-warranty maintenance services and collisions, part sales, paid supercharging, insurance services revenue and retail merchandise sales. The energy generation and storage segment include the design, manufacture, installation, sales and leasing of solar energy generation and energy storage products and related services and sales of solar energy systems incentives. Its consumer vehicles include the Model 3, Y, S, X and Cybertruck. Its lithium-ion battery energy storage products include Powerwall and Megapack.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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