investorplace.com·2024-05-23 10:30Core Viewpoint - Auto stocks are gaining popularity among investors due to consistent demand and a shift towards electric vehicles (EVs), presenting potential investment opportunities for significant returns this year [1]. Group 1: Toyota - Toyota plans to increase its stake in the joint venture with Panasonic for lithium-ion battery production, aiming to enhance its EV production capabilities in Japan [2]. - The company reported a 96.4% increase in operating income for 2024, indicating strong potential for growth [3]. Group 2: Li Auto - Li Auto experienced a 53% increase in deliveries and a 36.4% increase in revenue compared to the previous year, despite a sell-off following a less favorable Q1 report [5]. - The launch of the new fully electric Li L6 SUV model has garnered significant interest, with 10,000 orders within 72 hours of its release, suggesting strong market demand [6]. Group 3: Tesla - Tesla aims to reach 20 million sales by 2030, positioning itself as a leading EV producer alongside Toyota, despite experiencing a 9% drop in revenue in Q1 [7]. - The company is implementing a low-cost producer initiative to introduce more affordable models, which is expected to increase sales volume and appeal to a broader consumer base [8].