The biggest EV stories of the week: Tesla's 6-week winning streak, VW's sub-$25K car, Ford's efficiency drive, and more.

The majority of electric car stocks concluded the week of February 17 higher, led by Tesla, Inc. TSLA+3.10%+ Free Alerts, on bargain hunting. As the reporting of E.V. profits starts next week, there will likely be some volatility in the industry.

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Mixed News For Tesla: Tesla stock's upward trend intensified, with shares gaining for the sixth consecutive week. The stock has risen due to optimism surrounding the March 1 Investor Day announcements, expectations of sales reacceleration following the underperformance in 2022, and the probable debut of Cyber Trucks later this year.

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Last week, Tesla explained that it laid off 4% of its Autopilot labeling team in Buffalo, New York, in reaction to a normal performance assessment and not a unionization campaign. The explanation came in response to a union complaint filed with the U.S. National Labor Relations Board alleging that the firm laid off dozens of workers from its Buffalo factory the day after workers started the unionization push.

The E.V. giant was also slapped with a bad headline on the recall of 362,758 vehicles equipped with its full-self driving beta systems owing to the possibility of the vehicles violating speed limits on inner city roads and going through intersections in an unauthorized or unexpected manner. The recalled vehicles comprised Model S and X cars from 2016 to 2023, Model 3 sedans from 2017 to 2023, and Model Y SUVs from 2020 to 2023 equipped with FSD beta. Tesla stated that the problem would be resolved with an over-the-air software upgrade.

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One of the most successful investors and Warren Buffett's closest lieutenants like BYD Manufacturing Company Ltd, a Chinese electric vehicle (E.V.) business.

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BYDDY BYDDF over Tesla. In a Trade Algo Interview this week, Charlie Munger stated that BYD is well ahead of Tesla in China.

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Tesla has reversed some of the prices increases it enacted in China between late 2022 and the beginning of this year, so things may be looking up in China. The Model Y Long Range and Performance variations' costs were increased by 2,000 yuan ($291) apiece, as indicated by updated pricing on the Tesla China website. VW Will Introduce Sub-$25K Vehicle In 2023: Tesla should fear, as German carmaker Volkswagen AG.

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In 2023, VWAGY will debut the ID.2 E.V. on its MEB-Plus platform. The lithium-iron-phosphate battery will power the car, which is thought to be the electric version of Volkswagen's small five-seater Golf. It is anticipated that the pricing would begin at 22,500 euros ($24,124).

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Rivian Stock Soar on Positive Analyst Opinions: Rivian Automotive, Inc.

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RIVN-2.22%+ Free Alerts received a boost as Barclays analyst Dan Levy identified Rivian and Tesla as the largest E.V. boom benefactors. He stated that Rivian's innovative innovation positioned it to grab a substantial part of the North American E.V. market. The analyst launched the stock with a rating of Overweight and a price objective of $28.

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Ford Strives for Efficiency: With a loss in 2022, Ford Motor Corporation F-0.23%+ Free Alerts is on the path to recovery. The corporation aims to reduce its personnel in Europe by 11%. Meanwhile, Reuters reported that CEO Jim Farley stated at an auto conference that the company's long-term goal is to cut dealer inventory and increase online transactions. In addition, he stated that Ford has finalized the designs of its new E.V. trucks and SUVs and aims to reduce battery prices to below $70 per kilowatt-hour.

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He noted that in order to increase the profitability of its second-generation E.V.s, the business intends to switch to massive underbody castings to minimize the number of parts and simplify production.

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China To Investigate CATL-Ford Partnership: After Ford announced a battery production cooperation with China's CATL, Trade Algo reported that China would investigate the deal out of concern that CATL technology will be shared with the U.S. carmaker.

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