Here are the key events that happened in the EV space during the week:
See Also: Best Electric Vehicle Stocks
Musk, who is otherwise very vocal on X, the social media platform he owns, chose to remain silent on the rumored delay.
The week saw Tesla launching a new Model Y configuration in the U.S., namely the Long Range Rear-Wheel Drive, which costs under $35K and is eligible for the $7,500 federal tax subsidy. Separately, a COX Automotive report said Tesla’s Cybertruck was the best-selling EV priced at over $100,000 and that the company sold over 3,200 units in June alone.
Analysts have ratcheted up their earnings per share estimates for Tesla by about 9% over the past week, going by data provided by Yahoo Finance. The improved assessment potentially reflects better-than-feared first-quarter deliveries. The company is scheduled to announce its quarterly results on July 23.
See Also: Best EV Stocks
The KraneShares Electric Vehicles and Future Mobility Index ETF (NYSE:KARS) ended Friday’s session down 1.83% at $21.11 according to Benzinga Pro data. For the week, the ETF advanced 4.46%.
Check out more of Benzinga’s Future Of Mobility coverage by following this link.
Read Next:
- Tesla Bulls, Bear Weigh In On Robotaxi Delay: ‘Very Odd’ Or Biding Time For ‘Eye-Popping’ Prototype?
EV Stock Performances This Week:
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