Tesla’s Giga Shanghai is in full swing, Fisker gets the love of Wall Street, Ford issues an alarm to distributors, Biden’s foray into charging infrastructure: This week’s biggest EV stories

Electric vehicle stocks ended the week ending September 17th with mixed results as investors reacted to macroeconomic uncertainty driving the broader market lower, analyst actions and positive policy action.

Well, here are the main events that happened in the electric vehicle space during the week:

Tesla Updates and Analyst Action: The cost of making one Tesla, inc. (NASDAQ:TSLA) is down nearly 57% from 2017 to today, with the improvement mainly due to better vehicle design and new plant design, Martin Visha, Vice President of Investor Relations at Tesla, reported at a tech conference. The manager also confirmed that Tesla can access all the battery cells it needs for the first time.

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Regarding the possibility of a cheaper electric car, he said one could be in the pipeline, although the current focus is on Model Y and Model X cars, which are seeing stronger-than-expected demand.

Tesla stock has benefited from several positive analyst assessments this week. at the beginning of the week, needham-analyst Vikram Bajri Raising the stock from underperformance to holding, indicating a lack of catalysts that may lead to poor performance in the near term. However, the analyst remained cautious about the valuation.

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Adam Jonas Morgan Stanley He said the Inflation Cuts Act could give the company a $10,000/unit payment, making it worth more than $30 billion, according to Investing.com. subordinate German Bank analyst Emmanuel Rosner It raised its price target on Tesla to $400 from $375 and left a buy rating, StreetInsider reports.

Another positive development is that Tesla has reduced delivery times for the Model Y and Model 3 in China to at least one week, according to the company’s Chinese website. This appears to indicate that the Giga Shanghai plant is back in operation after the COVID-19 shutdown in April and the July shutdown related to refurbishment.

See also: Is Tesla the New Apple? Fund manager says Elon Musk’s company will be ‘much bigger’

Fisker is a buy at Needham: Fisker, Inc. (NYSE: FSR) has a bullish rating from Needham’s Vikram Bagri. The analyst appreciated the company’s lightweight asset production model and also noted that the stock is trading at a discount.

Ford is asking dealers for upgrades to sell electric cars: Ford engine company (NYSE: F) CEO Jim Farley It asked the company’s nearly 3,000 dealerships to invest more than $1 million in upgrades that would make sales of electric vehicles easier. The company offers its agents the opportunity to obtain certification with investments of $500,000 or $1.2 million for electric vehicles. Only dealers who commit to investing by October 31 will be allowed to sell electric vehicles from January 2024.

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Nio launches charging station in Europe, XPeng G9 will be presented next week: Nio, Inc. (NYSE: NIO) that the first European-made switching power plant has rolled off the assembly line in Hungary. The exchange station will be delivered to Germany.

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Nio . competitor XPeng, Inc. (NYSE: XPEV) has confirmed the online event schedule for the unveiling of the flagship G9 SUV.

Biden gives the green light for investments in charging infrastructure: The BidenThe government this week announced a $900 million grant to build electric car charging stations in 35 states, the first batch of funding under the 2022 Inflation Reduction Act.

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“The nationwide charging network is a ‘missing key piece’ in the long-term US electric vehicle initiatives for the Detroit 3,” said analyst Wedbush. Daniel Ives in a note.

Development of electric vehicle stocks this week:

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