Tesla Making a Strong Comeback, China Lockdowns Ending
Electric Vehicle (EV) companies are making a comeback. The continuous lockdowns in China have been a stake in the heart of EV companies and other manufacturers. There was news today of Tesla inking a new supply deals with two Chinese companies - Zhejiang Huayou Cobalt Co. and CNGR Advanced Material Co.
[https://electrek.co/2022/03/02/tesla-ramps-up-deals-secure-future-supply-of-critical-battery-metals-adds-another-lithium-contract/](https://electrek.co/2022/03/02/tesla-ramps-up-deals-secure-future-supply-of-critical-battery-metals-adds-another-lithium-contract/)
These are for "precusor materials", which are a mix of chemicals that are needed to storage energy in lithium-ion batteries. In March Tesla also landed a resources deal with an Australian company as well.
These deals are going to last 2025 -Tesla is planning to produce 2 million vehicles this year. China is coming out of lockdowns, and Tesla has a major plant in Shanghai, so they're now expecting to meet their production goals. Tesla is banging this month, with the stock rising by 30%.
https://preview.redd.it/ju3ga3ddc5f91.png?width=872&format=png&auto=webp&s=b6021749ff731b8fbcbc738c5c4be40a6e8f8abb
NIO, Xpeng and Li Auto are also showing solid numbers, so a rising tides is lifting all boats in the sector.
https://www.reddit.com/r/StockMarket/comments/wdoyna/tesla_making_a_strong_comeback_china_lockdowns/
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