Group 1 - Tesla's stock price increased by 5.03% to $324.1 per share, with a total market capitalization of $1,043.91 billion as of June 11 [1] - For the fiscal year ending March 31, 2025, Tesla reported total revenue of $19.335 billion, a year-over-year decrease of 9.23%, and a net profit of $409 million, down 70.58% year-over-year [1] - Robert W. Baird reaffirmed Tesla's rating as Neutral and raised the target price to $320 on June 9 [1] Group 2 - Tesla is planning to launch electric vehicles to cater to a wide consumer and commercial vehicle market, including models such as Model 3, Model Y, Model S, Model X, Cybertruck, Tesla Semi, and a new Tesla Roadster [2] - The electric vehicles feature advanced technology in power systems, autonomous driving, and Full Self-Driving (FSD) hardware, offering advantages in range, charging flexibility, acceleration, handling, safety, and user-friendly infotainment features [2]

Group 1 - The Zhejiang Provincial Disabled Persons Welfare Foundation launched the third phase of the technology assistance project for limb-disabled individuals, aiming to recruit 100 beneficiaries for free installation of smart bionic legs [1][3] - Leap Motor, as a charitable donor for the project, encourages limb-disabled individuals in need to apply through official channels, aligning with its mission of providing high-quality, well-configured electric vehicles through continuous technological innovation [1][3] - The project addresses the dual challenges of limited functionality of traditional prosthetics and the high cost of smart prosthetics, promoting a collaborative model involving government, charitable enterprises, and technology companies [3] Group 2 - Leap Motor, founded in 2015, is a technology-driven smart electric vehicle company headquartered in Hangzhou, Zhejiang Province, focusing on the design, research, and manufacturing of electric vehicles and related technologies [3] - The company has a self-research and manufacturing ratio of 65% in its core components, having introduced several industry-leading technologies, including the first eight-in-one electric drive and the first mass-produced CTC battery chassis integration technology [3] - In 2023, Stellantis Group invested in Leap Motor, and in May 2024, they established a joint venture to expand into international markets [3]

金十数据6月10日讯，尽管特斯拉股价下跌，摩根士丹利分析师Adam Jonas重申了对特斯拉的"增持"评 级和410美元的目标价，并指出其在电动汽车以外的领域也拥有优势。Jonas称，尽管近期特斯拉面临估 值压力， 但其在物理AI能力方面拥有巨大的增长潜力，例如自动驾驶汽车、机器人技术、储能和制造 基础设施。他认为，没有其他公司在数据、人工智能、机器人技术和支持网络方面能与特斯拉匹敌。尽 管传统电动汽车面临阻力，但特斯拉更广泛的技术生态系统仍然引人注目。乔纳斯展望了马斯克旗下公 司未来的协同效应， 例如SpaceX与特斯拉汽车的整合，以及xAI和Optimus等人工智能系统的协同工 作。特斯拉仍然是他眼中美国汽车行业的首选。 订阅特斯拉动态 +订阅 摩根士丹利：维持特斯拉"增持"评级 看好AI生态破局 ...

摩根士丹利在这份题为《全球电动汽车追踪：中国电动汽车统治时代》的报告中指出，4月，比亚迪、吉利销量位居前二，而特斯拉销量退居第四位，其全球 市场份额从去年同期的10.7%下滑至7.9%。 中国品牌正在主导全球电动车市场。 据追风交易台消息，摩根士丹利最新发布的4月全球电动车市场数据显示，2025年4月，全球纯电动车销量同比增长38%至107.97万辆，其中中国市场贡献了 超过六成的销量，同比增速51%。 摩根士丹利分析师Adam Jonas在报告中指出， 全球电动车市场正在经历"中国主导时代"。 这不是简单的市场周期性调整，而是产业格局的根本性重构。中国 品牌不仅在销量上全面压制传统巨头，更在技术创新和成本控制上建立了难以逾越的护城河。 中国电车的系统性胜利 根据大摩追踪的2025年4月全球电车市场销售数据报告，从全球各地区销量，电车制造商排名、最畅销电动车型和电池技术等方面来看，这是中国电动车的系 统性胜利。 分地区来看： 中国 市场表现最为亮眼，销量达 66.25万辆 ，同比 大增51% ，渗透率从去年同期的22.4%提升至 30.2% 。 欧洲 市场销量 21.43万辆 ，同比 增长30% ，渗透率达 ...

在投资者数月的殷切期待下，特斯拉首席执行官马斯克近日终于做出关键抉择，正式脱离特朗普政府相关事 务。这一消息如同一针强心剂，瞬间在资本市场引发强烈震动。消息一经公布，特斯拉股价便开启了飙升模式， 显示出市场对特斯拉未来前景重燃信心。 此前，马斯克身兼数职，频繁参与政治事务，不仅分散了他对企业管理的精力，也导致特斯拉的品牌形象受到负 面影响，让投资者对特斯拉的未来发展产生诸多担忧。如今，马斯克承诺回归企业经营，无疑令投资者长舒了一 口气。不过，特斯拉当下面临着市场和技术的重重挑战，该公司能否凭借马斯克的回归，在产品创新、成本控制 及市场份额争夺中突出重围，重塑行业领先地位，可能还要打上一个大大的问号。 如同晨星分析师戈德斯坦所说："马斯克离开白宫或许能在短期内提振市场情绪，但这只是'治标不治本'，特斯拉 的根本问题在于产品阵容老化以及市场竞争加剧。" 马斯克弃政返商 就在5月28日，时任美国政府效率部负责人的马斯克在社交平台X上发文确认，他将离开特朗普政府，不再继续担 任"政府特殊雇员"。5月30日，美国白宫举行了一场告别仪式，马斯克正式结束任期。 对于马斯克的离开，白宫给出的官方说法是，马斯克在美国联邦政府的 ...

Group 1 - The core viewpoint of the articles highlights a shift in retail investor behavior in Asia, with a notable decline in buying enthusiasm for U.S. stocks, contrasting with hedge funds that are aggressively buying into the market [1][6][7] - In May, South Korean retail investors became net sellers of U.S. stocks for the first time since Trump's election, selling over $1 billion worth of shares [1] - Japanese retail investors also turned net sellers of U.S. ETFs in May, with a significant reduction of approximately $1.66 million, marking the largest sell-off since April 2023 [1] Group 2 - The previous surge in retail investor confidence was driven by a market crash in April, which led to substantial buying of stocks and ETFs, resulting in a rebound of over 20% in the S&P 500 index [2] - The S&P 500 index has shown a lack of momentum recently, with less than 1% increase over the past three weeks, indicating a period of calm after months of volatility [6] - Hedge funds are currently in a panic-buying mode, with net purchases of U.S. stocks for five consecutive weeks, showing a buying ratio of approximately 3 to 1 over short positions [7] Group 3 - The unpredictability of Trump's policy announcements remains a critical variable influencing market behavior, with investors cautious about future investments [8] - Retail investors in Singapore have slowed their investment pace after achieving quick returns, indicating a more cautious approach moving forward [8]

Group 1: Tesla's Stock Performance and Market Impact - Tesla's stock rating was downgraded to "hold" by Argus Research and Baird, reflecting concerns over its performance amid political tensions involving CEO Elon Musk and former President Trump [2] - Since 2025, Tesla's stock has dropped over 20%, making it the worst performer among the "Big Seven" U.S. tech stocks [2] - Following Trump's election victory, Tesla's stock initially rose but has since fallen 33% since January, while the S&P 500 index has declined less than 1% during the same period [9][10] Group 2: Musk's Wealth Fluctuations - Musk's net worth increased from approximately $230 billion in August 2024 to a peak of $486 billion by mid-December 2024, largely due to his political support for Trump [4] - However, by April 2025, Musk's net worth had decreased to around $300 billion due to various challenges, including government spending cuts and new tariff policies affecting his businesses [4] Group 3: SpaceX's Government Contracts and Challenges - SpaceX, valued at $350 billion, has received over $22 billion in non-classified contracts from the U.S. Department of Defense and NASA since its inception [6] - The recent conflict between Musk and Trump has raised concerns within NASA and the Pentagon, as SpaceX provides critical services such as satellite internet and satellite launches for military and intelligence purposes [7] Group 4: Regulatory and Legal Issues Facing Musk's Ventures - Musk's acquisition of Twitter, now known as X, has come under scrutiny from the SEC regarding potential violations related to stock purchases prior to the acquisition [12] - The ongoing tensions with Trump may complicate regulatory issues surrounding Musk's push for autonomous vehicle legislation, which was initially supported by Trump [12] - Musk's xAI and X platform are facing potential challenges in capital markets, with recent reports indicating decreased demand for xAI's upcoming bond issuance due to the fallout from Musk's political disputes [12][13]

Baird的Ben Kallo在周一给客户的研究报告中表示："马斯克与特朗普总统的近期冲突凸显了这位CEO政 治活动带来的关键人物风险。"他补充道，这种情况增添了"特斯拉前景的不确定性"，并引发对品牌损 害的担忧，这种影响可能持续"直至出现销量持续增长的确凿证据"。 Argus分析师Bill Selesky认为，近期事态发展表明特斯拉股价正受"非基本面事件"驱动，而电动汽车税 收抵免政策的到期"可能进一步削弱市场对特斯拉新车的需求"。 特斯拉(TSLA.US)近日遭华尔街两家机构同时下调评级至"中性"，这凸显出该公司面临的短期不确定 性，以及市场对其本周即将发布的自动驾驶出租车(Robotaxi)存在的"过高预期"。 Baird与Argus分析师撤销了对特斯拉的看涨评级，指出市场不稳定因素及马斯克与特朗普总统的公开争 执带来的声誉风险。 Kallo表示，Robotaxi业务"的推进难度将超出预期，其盈利能力很可能低于部分投资者过于乐观的预 估"。 此外，Kallo将2026年第二季度交付量预期从40.48万辆下调至37.7万辆，以反映电动汽车税收抵免政策 取消的影响。 虽然Kallo仍将特斯拉视为"核心长期持 ...

Core Insights - The global electric vehicle (EV) market is experiencing a significant shift towards dominance by Chinese manufacturers, with a 38% year-on-year increase in sales to 1.079 million units in April 2025, driven largely by a 51% increase in the Chinese market [1][8] - Morgan Stanley's report highlights that BYD and Geely are leading in sales, while Tesla's market share has declined from 10.7% to 7.9% [6][11] Market Performance - In April 2025, China accounted for 66.25 million units sold, a 51% increase, with a market penetration rate rising from 22.4% to 30.2% [8] - Europe saw a 30% increase in sales to 21.43 million units, achieving a penetration rate of 19.9% [8] - The U.S. market showed a decline, with sales dropping 4% to 9.54 million units and a penetration rate falling from 7.4% to 6.5% [8] Manufacturer Rankings - BYD led the global EV sales with 181,009 units and a 17% market share, followed by Geely with 100,764 units and a 9% share [11][12] - General Motors ranked third with 96,014 units, while Tesla's sales fell to 84,780 units, marking a 17% decline [11][12] - Tesla's market share in the U.S. also decreased from 46.0% to 41.0% [12] Battery Technology - The global battery deployment reached 6.68 million MWh in April, a 32% increase year-on-year [14] - The share of lithium iron phosphate (LFP) batteries rose from 35% to 44%, while nickel manganese cobalt (NMC) batteries decreased from 54% to 47%, indicating a strategic advantage for Chinese manufacturers in cost control and technology selection [16]

这种监管思路，既是对快速变化的智能电动汽车市场的迅捷反应、主动作为，也有效填平了产业细分领域的标 准"洼地"，减少了企业打擦边球的空间。 随着智能电动汽车产业标准的不断完善和细化，一些企业钻空子、互相拆台的论战自然也会减少。 智能电动汽车市场竞争的白热化，逐渐催生了一种新形式的"较量"，即车企高管纷纷入驻社交平台， 通过互联网隔空论战。时而围绕技术路线，时而聚焦产品定义，但有时候，这种论战也会演化为"口水 战"，高管们时不时隔空"互怼"，在舆论场上挑刺。 针对这种行业现象，监管部门频频出手，持续完善行业标准，平息纷争。例如，不久前，工业和信息化部曾公 开征集对《汽车车门把手安全技术要求》强制性国家标准制修订计划项目的意见，旨在规范智能电动汽车产品 设计。这既体现了监管部门对汽车产品安全的重视，也释放了另一种信号，即以规范行业标准引导车企从低水 平的"口水战"回归理性，专注于技术提升。 除了规范汽车门把手，近年来，监管部门也围绕汽车数据安全、自动驾驶分级、动力电池回收等多个细分领域 出台了相关标准。 转载与合作可联系证券时报小助理，微信ID：SecuritiesTimes END 点击关键字可查看 当前，中国汽 ...