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RIDE - Lordstown Motors News Story

$9.71 -0.1  -0.5%

Last Trade - 22/04/21

Sector
Consumer Cyclicals
Size
Mid Cap
Market Cap £1.24bn
Enterprise Value £784.8m
Revenue £n/a
Position in Universe 2362nd / 6857

BUZZ-Bernstein forecasts 60% growth for EVs this year

Thu 11th February, 2021 1:24pm
** Brokerage Bernstein says the electric vehicle market
could grow 60% in 2021 to about 5 mln units; says EVs grew 40%
to 3 mln units last year, while the global auto market declined
14% amid the COVID-19 pandemic 
    ** Government policy and incentives have been a key driver
of EV demand in recent years, and brokerage expects the policy
push to continue to strengthen
    ** Expects EVs to grow to 15% of total auto sales in 2025,
40% in 2030 and over 75% by 2040 
    ** For Tesla Inc  TSLA.O , brokerage expects co to likely
gain EV market share in 2021, but says it may ultimately need to
trade off profitability to do so
    ** Says Tesla Model 3 continued to be the best-selling BEV
(battery electric vehicle) model globally by a considerable
margin
    ** Tesla chief Elon Musk's brother Kimbal Musk sold 30,000
shares for about $25.6 mln on Feb. 9 - SEC filing dated Feb. 10
(https://bit.ly/3d6MsQr)
    ** Kimbal Musk still holds 599,740 shares worth $482.7 mln
as of last close 
    ** EV stocks, including Nikola Corp  NKLA.O , Nio Inc
 NIO.N , Canadian EV firm ElectraMeccanica Vehicles Corp
 SOLO.O , startup Lordstown Motors Corp  RIDE.O  and China's
Kandi Technologies Group  KNDI.O  had gained significantly in
2020

 (Reporting by Ayanti Bera in Bengaluru)
 ((Ayanti.Bera@thomsonreuters.com;))
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