To The Moon

An X user shared a video of Musk's previous remarks, suggesting that Tesla Motors' market value could potentially reach $25-30 trillion in the future. The user wrote: "This is 8 times Microsoft's...

0258 GMT - Li Auto's 2Q will likely be its most challenging quarter in terms of gross margins, Deutsche Bank analyst Bin Wang writes in a note. The Chinese automaker's selling prices for its flagship L7, L8, L9 and Mega models are lower after it cut prices in April, which will pressure its margins, he adds. The company also has an unfavorable product mix as the share of its cheaper L6 SUVs rose. Also, the consumers who bought vehicles before the price cuts were compensated. Considering these factors, Li Auto's 2Q margin will likely to drop 1.5 percentage points on quarter to 19.1% while net profit will likely drop 83% on quarter to CNY102 million, the analyst says. DB maintains a buy rating on the stock with a target price of HK$133.00. Shares were last at HK$74.10.

EV shares slid in premarket trading.Nio fell over 4%; Li Auto fell 2%; XPeng up 0.3%.The European Commission will notify car makers on Wednesday that it will provisionally apply additional duties of up to 25% on imported Chinese electric vehicles from next month, the Financial Times reported, citing people familiar with the matter.Analysts have said they expect tariffs of between 10% and 25% on Chinese EVs. The European Commission has said Chinese EVs receive excessive subsidies.The EU and China

Chinese e-commerce giant Alibaba is back on track to be a top market player after a period of pressure, co-founder Joe Tsai told CNBC’s Emily Tan in an exclusive interview Friday.Questions about Aliba