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Revolutionizing the Road: BMW and Tesla's Pioneering Moves in the Electric Vehicle Market

Published by MEXEM EUROPE

September 18, 2023 3:35 PM
(GMT+2)

The Electric Vehicle Market Heats:

The electric vehicle (EV) market is witnessing significant developments, with BMW {{ m-tag option="price" ticker="BMWYY" currency="EUR" }} making a substantial investment in its Mini brand and Tesla {{ m-tag option="price" ticker="TSLA" currency="USD" }} nearing a manufacturing breakthrough. This article delves into the latest updates that could reshape the automotive landscape.


BMW's Multi-Million Pound Investment in EVs:

BMW has announced a £600 million investment in its UK manufacturing facilities to fully electrify its Mini brand by 2030. The Oxford plant will exclusively produce electric models, including the Mini Cooper 3-door and the Mini Aceman, starting in 2026.

BMW aims to transition the Oxford plant to solely EV production by 2030, targeting international markets. The automaker is also committed to using European-manufactured batteries, although the supplier remains undisclosed.


Stock Performance: BMW

Its shares increased by approximately 1.4% over the past week, closing at €97.51 in Frankfurt and $34.64 in New York. The stock has risen more than 13% year-to-date.


Tesla's Game-Changing Manufacturing Technique:

Tesla is reportedly close to adopting die-casting techniques that could revolutionize EV manufacturing. This approach would allow the production of an electric vehicle's underbody as a single unit, significantly reducing the typical three- to four-year development timeline.


Industry Implications &Tesla's Stock Surge:

Experts suggest that Tesla's new manufacturing method could be a game-changer, potentially allowing the company to develop a car within 18 to 24 months. Tesla's shares surged 3.9% to $274.39 over the past week and have increased more than 150% this year.

UAW Strikes:

The United Auto Workers (UAW) union has initiated strategic strikes at key plants of major American automakers, including Ford {{ m-tag option="price" ticker="F" currency="USD" }}, General Motors {{ m-tag option="price" ticker="GM" currency="USD" }}, and Stellantis {{ m-tag option="price" ticker="STLA" currency="USD" }}, after failing to reach an agreement on new contract proposals.


The UAW is demanding salary increases that match the 40% raises recently granted to the CEOs of the Detroit 3 automakers. Ford's stock rose 1.9% for the week, while GM and Stellantis advanced 2.2% and 4.5%, respectively.


Conclusion:

Investment Opportunities in the EV Both BMW and Tesla offer compelling investment opportunities as they make significant strides in the rapidly evolving EV market. Investors should closely monitor these developments to capitalize on potential gains.



The information on mexem.com is for general informational purposes only. It should not be regarded as investment advice. Investing in stocks involves risk. A stock's past performance is not a reliable indicator of its future performance. Always consult a financial advisor or trusted sources before making any investment decisions.



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