1 Tesla Q2-2021 Update
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Tesi Mazzenga
Dipartimento di Impresa e Management Cattedra di Management delle Imprese Internazionali IL SETTORE AUTOMOTIVE: LE DETERMINANTI DELLA VELOCITÀ DI INTERNAZIONALIZZAZIONE NEL CONFRONTO TRA VOLVO E TESLA Prof. Antonio Majocchi Prof. Matteo Giuliano Caroli RELATORE CORRELATORE Valerio Mazzenga Matricola: 709011 CANDIDATO Anno accademico 2019/2020 1 ABSTRACT: Il seguente lavoro ha l’obiettivo di individuare i fattori che determinano l’esistenza di imprese Born Globals, imprese che, a differenza del classico modello di internazionalizzazione a stadi, si espandono all’estero molto velocemente. Diverse teorie hanno cercato di dare una spiegazione al fenomeno e il dibattito è ancora irrisolto. Il focus dell’elaborato sarà quindi il confronto tra le tre principali teorie, quella classica delle teorie IE, quella alternativa di Hennart (FSA) e quella di mediazione di Dow, cercando di riportare nuove evidenze a sostegno di una teoria piuttosto che un’altra. La metodologia di analisi utilizzata è quella del “case study” e l’analisi si concentrerà su due imprese appartenenti al settore Automotive, Volvo e Tesla; attraverso uno studio approfondito delle due imprese, dei loro modelli di business e dei manager che le guidano, si studierà l’importanza della presenza di alcuni fattori e la superfluità di altri. Considerando Volvo come esempio di impresa non-BG si evidenzieranno infatti i suoi tratti caratteristici a testimonianza di fattori non sufficienti a garantire una rapida espansione estera. Considerando invece Tesla come esempio di impresa BG, si evidenzieranno i fattori necessari. I risultati dell’analisi saranno infine paragonati alle teorie dibattute e si esprimerà la posizione presa dal seguente elaborato. 2 INDICE INTRODUZIONE…………………………………………………………………………...PAG. -
ISSUE 84 / 2020 Freetorial He Great Thing About Being Free Car Mag Is That We Are Just MG India Brand Ambassador That, Free
Get the Look Should you buy... Communist Chinese Cars? & from companies that work within the People's Republic? We try on some ultra cool T-Shirts with a distinctly Swedish theme which might be turbocharged... freecarmag.co.uk 1 ISSUE 84 / 2020 freetorial He great tHing about being Free Car Mag is tHat we are just MG India brand ambassador that, free. Free to write about what we please. Difcult things. T I was ratHer interested in wHat car manufacturers tHougHt Benedict Cumberbatch about operating in CHina. Sadly, in just about every instance, tHey Had notHing to sHare witH us, wHicH was a sHame. RigHt now cooperating witH a Communist political system would not seem to be tHe most etHical tHing to do. Indeed, unravelling tHemsleves from a globalised system tHat Has caused plenty of supply cHain issues recently would be tHe smart, business tHing to do. For tHe rest of us Bangernomics Mag (www.bangernomics.com) offers a positive way forward. Instead, car manufacturers prefer to stay away from tHe really important issues. THey could of course cHoose to be free. 4 News Events Celebs MeanwHile...say Hello to SHazHad SHeikH wHo Has been writing 8 China Crises about and driving all tHe exciting cars for decades as #browncarguy. See you next time. 10 Made in China 16 Mercedes World 18 Back Seat Driver 19 Future Proof Vauxhall Mokka 22 Saab Tees 23 Wanted Mr Jones Watch 24 Buy Now KIa, SEAT , Skoda 26 Alliance of British Drivers 28 The #Brown Car Guy Column 30 Next Time - BMW Isetta? James Ruppert The Brit Issue EDITOR [email protected] Cover Credits l Fiat • MG Motors India • Saab Tees THE TEAM Editor James Ruppert Publisher Dee Ruppert Backing MAG Sub Editor Marion King Product Tester Livy Ruppert Britain Photographer Andrew Elphick Our 5 point plan Web Design Chris Allen Columnist Shahzad Sheikh ©2020 Free Car Mag Limited is available worldwide Reporter Kiran Parmar witHout any restrictions. -
Ganfeng Lithium (1772 HK)
China Materials 5 May 2020 Ganfeng Lithium (1772 HK) Target price: HKD29.00 (from HKD26.00) Share price (5 May): HKD25.95 | Up/downside: +11.8% Upgrade on NEV policy and Tesla’s expansion in China Dennis Ip, CFA (852) 2848 4068 Domestic NEV demand supported by policies and Tesla’s expansion [email protected] Strong 2Q20 guidance with 2Q20 net profit up 2.0-3.4x YoY Anna Lu, CFA (852) 2848 4465 Upgrading to Outperform (2) from Hold (3); lifting TP to HKD29 [email protected] What's new: Ganfeng’s share price has risen by only 4% since the start of Forecast revisions (%) April, but we see catalysts emerging, including: 1) supportive NEV policies, Year to 31 Dec 20E 21E 22E and 2) Tesla’s development in China, which will likely support recovery of Revenue change - 8.0 24.7 Net profit change - 11.2 30.7 its share price despite its weak 1Q20 results (see our memo). We upgrade Core EPS (FD) change - 11.2 30.7 it to Outperform (2) with a TP of HKD29 on 3.5x 12-month forward PBR. Source: Daiwa forecasts What's the impact: Supportive NEV policy and Tesla’s expansion. Share price performance We believe the enactment of a series of positive NEV policies (see P.2) will (HKD) (%) reinforce mainland investors’ interest in EV-related names, and we look for 37 295 more NEV policies (which fit “New Infrastructure” theme of Chinese 29 234 Government, also see P.2) to come during Liang-hui. -
Xpeng Inc. (Exact Name of Registrant As Specified in Its Charter)
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of event requiring this shell company report For the transition period from to Commission file number 001-39466 XPeng Inc. (Exact name of Registrant as specified in its charter) Cayman Islands (Jurisdiction of incorporation or organization) No. 8 Songgang Road, Changxing Street Cencun, Tianhe District, Guangzhou Guangdong 510640 People’s Republic of China (Address of principal executive offices) Hongdi Brian Gu, Vice Chairman and President Telephone: +86-20-6680-6680 Email: [email protected] At the address of the Company set forth above (Name, Telephone, E-mail and/or Facsimile number and Address of Company Contact Person) Securities registered or to be registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered American Depositary Shares, each representing XPEV New York Stock Exchange two Class A ordinary shares Class A ordinary shares, par value US$0.00001 New York Stock Exchange per share* * Not for trading, but only in connection with the listing on the New York Stock Exchange of American depositary shares. -
China's Electric Vehicle Showdown by Suwatchai Songwanich, Executive
China’s electric vehicle showdown By Suwatchai Songwanich, Executive Vice President, Bangkok Bank Nissan has unveiled Ariya, a new all-electric sports utility vehicle (SUV), the first of a new generation of electric vehicles intended to improve the struggling Japanese carmaker’s performance. Ariya was described by Nissan chief executive Makoto Uchida as the "flagship of the new Nissan" at its online launch this month from the company’s headquarters in Japan. Nissan is hoping the model will sell particularly well in China, despite tough local competition from US-based Tesla. The electric vehicle (EV) giant, led by polarising CEO Elon Musk, became the best-selling new EV in China in May this year, a combination of the brand’s international cachet, strong reputation in China, and the construction of an expansive production facility in Shanghai. Tesla Giga Shanghai, also known as Gigafactory 3, was developed to build more Model Ys – the brand’s own all-electric SUV – for Chinese consumers. The $2 billion facility also aims to build up to 250,000 Model 3s each year, a long-range variant to better suit China’s geography. Meanwhile, Nissan reported a global operating loss of $380 million for the year ending 31 March – its worst performance since the height of the global financial crisis in 2009. EVs are a critical component of Nissan's four-year plan to return to profitability, which includes launching more than eight new electric models by 2023. Nissan views China as a desirable market due to generous government incentives for buyers and manufacturers of EVs. -
June 24, 2020 Dr. Annette Tielle Superintendent Del Valle Independent School District 5301 Ross Road Del Valle, Texas 78617
June 24, 2020 Dr. Annette Tielle Superintendent Del Valle Independent School District 5301 Ross Road Del Valle, Texas 78617 Re: Certificate for Limitation on Appraised Value of Property for School District Maintenance and Operations taxes by and between Del Valle Independent School District and Colorado River Project, LLC, Application 1496 Dear Superintendent Tielle: On June 19, 2020, the Comptroller issued written notice that Colorado River Project, LLC (applicant) submitted a completed application (Application 1496) for a limitation on appraised value under the provisions of Tax Code Chapter 313.1 This application was originally submitted on June 3, 2020, to the Del Valle Independent School District (school district) by the applicant. This presents the results of the Comptroller’s review of the application and determinations required: 1) under Section 313.025(h) to determine if the property meets the requirements of Section 313.024 for eligibility for a limitation on appraised value under Chapter 313, Subchapter B; and 2) under Section 313.025(d), to issue a certificate for a limitation on appraised value of the property and provide the certificate to the governing body of the school district or provide the governing body a written explanation of the Comptroller’s decision not to issue a certificate, using the criteria set out in Section 313.026. Determination required by 313.025(h) Sec. 313.024(a) Applicant is subject to tax imposed by Chapter 171. Sec. 313.024(b) Applicant is proposing to use the property for an eligible project. ________________________ 1 All Statutory references are to the Texas Tax Code, unless otherwise noted. -
Catl (300750 Ch) Nio (Nio Us)
Industry Report | July 26, 2021 China EVs (Overweight) Market growth to exceed expectations Yongdai Park [email protected] Analysts who prepared this report are registered as research analysts in Korea but not in any other jurisdiction, including the U.S. PLEASE SEE ANALYST CERTIFICATIONS AND IMPORTANT DISCLOSURES & DISCLAIMERS IN APPENDIX 1 AT THE END OF REPORT. Contents [Summary] 3 I. Auto market reported negative growth for three straight years 4 II. NEVs continue to see explosive demand growth 6 III. NEV sales to increase at 39% CAGR over the next five years 14 IV. Key recommendations 26 Global X China EV and Battery ETF (2845/9845 HK) BYD (002594 CH) CATL (300750 CH) NIO (NIO US) 2| China EVs Mirae Asset Securities Research Summary China’s EV market • We expect China’s electric vehicle (EV) market to expand at a CAGR of 39% over the next five years, growth to exceed with sales volume rising from 1.37mn units in 2020 to 7mn in 2025. expectations • China’s car ownership rate remains relatively low, at 17%. Factoring in the country’s economic/income growth prospects, we forecast sales volume to increase at 2% CAGR over the coming decade. • The market share of EVs is likely to increase steadily in line with the government’s long-term goal of achieving carbon neutrality by 2060 and the milestones laid out in the latest “Technology Roadmap for Energy Saving and New Energy Vehicles (NEVs)”. EV penetration stands at just 10% in China despite surging sales over the past year. • While competition will likely intensify in the EV market, we still see some investment opportunities. -
Tesla Inc 3 Takeaways from 4Q20 Earnings Call
一般風險披露聲明 本報告所載的資料只屬一般簡介,並不能作為專業法律、財務或其他意見或行事依據,亦不應被理解為購 入、出售或投資任何產品之建議、邀請、廣告、或引導。輝立證券集團("本公司")力求但不保證有關資料準 確或完整,客戶不應根據本報告或當中資料作出任何決定。本公司對本報告內資料所引致之任何損失或虧 損概不負任何責任。假如你對本風險披露聲明的內容有不明白或對投資產品未有足夠認識,請與本公司查 詢並詳盡了解。如要做任何投資,亦應尋求獨立的專業意見。 海外投資產品不受香港聯合交易所/其他香港監管機構監管,而此類產品亦不受賠償基金的保障。在其他司 法管轄的市場交易,或會涉及額外的風險(如政府政策的改變、稅務和政治發展等)。因此,你應瞭解買賣海 外投資產品的性質及風險,並就本身的投資經驗、風險狀況及其他相關因素,小心考慮自己是否適合參與 該等買賣。如有任何疑問,應咨詢專業意見。 投資涉及多種風險,包括市場、匯率、波動性、流動性、信貸/對手方、評級下降、監管及政治等。投資產 品價格可升可跌,並可能非常波動,會變成毫無價值,甚至被要求存入額外的保證金,而蒙受損失。投資 者作出任何投資決定前,應細閱各投資產品之銷售文件所載的條款及條件,瞭解該產品的風險、特性及限 制等是否適合其個人的財務狀況、投資目標及可承受之風險。本公司或其行政人員、董事、分析員或僱員 可在報告所述之公司擔任董事,並可能持有本報告所述投資產品,或可以委託人或代理人身 份 買賣此等產 品。本公司可不 時 為本報告所 提 及之公司,提供 投資 銀 行或其他 服 務、或 向 其 招攬 投資 銀 行或其他業務。 本報告內的資料為本公司 版權 所有。在 沒 有本公司事前 書面許 可下,不可以 部 分 地 或 全部地複製 本文件。 證券及債券交易風險 證券價格有 時 可能會非常波動。證券價格可升可跌,甚至變成毫無價值。買賣證券未 必 一定能夠 賺取利 潤,反 而可能會 招 致損失。債 券價格有 時較 為 穩 定,但發行人一 旦違約 ,你可能導致損失 全部 本金及應 收 利息 。 Editor : Ivan Lau Tel : +852-2277-6678 e-mail : [email protected] Disclaimer The information contained in the report(s) is provided to you for information only and is not intended to or nor will it create/induce the creation of any binding legal relations. The information or opinions provided in the report(s) do not constitute an investment advice, an offer or solicitation to subscribe for, purchase or sell the e investment product(s) mentioned herein. It does not have any regard to your specific investment objectives, financial situation and any of your particular needs. Information contained herein is based on data obtained from recognized statistical services, issuer reports or communications, or other sources believed to be reliable. However, Phillip Securities(HK) Ltd("PSHK") does not verify such information. -
Creating Value for Everyone Everywhere
CREATING VALUE FOR EVERYONE EVERYWHERE ANNUAL REPORT 2019 ANNUAL REPORT 2019 ABOUT US Armacell is the inventor of flexible elastomeric foams for equipment insulation. We develop innovative and safe thermal, acoustic and mechanical solutions that create sustainable value for our customers. Day in, day out, our products make a significant difference around the world. As a multi-material and multi-product company, we operate two main businesses: Advanced Insulation and Engineered Foams. Our product focus is on insulation materials enhancing the energy efficiency of technical equipment, high-performance foams for technical and lightweight applications, 100% recycled PET products and next- generation aerogel technology. ArmaFlex® in Space ArmaFlex® pipe insulation was used in the U.S. Destiny Laboratory, supplying the International Space Station (ISS) with oxygen at the beginning of the millennium. Armacell’s foam insulation was selected and installed for its outstand- ing technical performance and its excellent flexibility, keeping the AC cooling lines from sweating or freezing in space. For more of our projects, please see pages 14 –17 CONTENT 01 CREATING VALUE FOR EVERYONE EVERYWHERE 02 ARMACELL IS EVERYWHERE 04 WE MAKE LIFE 06 ARMACELL INSIDE 10 CREATING VALUE 24 34 40 CORPORATE STRATEGY CORPORATE RESPONSIBILITY FINANCIAL RESULTS 24 Performance 34 Our ESG commitment 42 Reporting structure 26 Letter from the CEO 36 Driving growth 43 Outlook 28 Executive team 37 Employees first 45 Group performance 30 Strategy 38 Protecting our planet 47 Business performance 32 Global presence 39 Fostering communities 50 Corporate governance CREATING VALUE FOR EVERYONE EVERYWHERE Energy efficiency, urbanisation, acoustic comfort and vibration control, globalisation of the food supply chain, lightweighting, and sustainability: six megatrends that are shaping everyday life around the world. -
Tesla Service Plus Tampa, FL
PARKING DECK PROVIDES CAPACITY TO DELIVER VEHICLES THROUGHOUT ENTIRE STATE OF FLORIDA OFFERING MEMORANDUM Tesla Service Plus Tampa, FL This property is listed in conjunction with Florida-licensed real estate broker Anne Metz. www.preservewestcapital.com TABLE OF CONTENTS PROPERTY HIGHLIGHTS 1 AERIALS 9 PROPERTY OVERVIEW 2 ABOUT THE AREA 11 TENANT INFORMATION 4 DEMOGRAPHICS 13 SITE PLAN 8 Disclaimer Michael Maffia (“Broker”) has been retained on an exclusive basis to market the property described herein (“Property”). Broker Putnam Daily has been authorized by the Seller of the Property (“Seller”) to prepare and distribute the enclosed information (“Material”) for Partner the purpose of soliciting offers to purchase from interested parties. More detailed financial, title and tenant lease information may be made available upon request following the mutual execution of a letter of intent or contract to purchase between 415.445.5107 the Seller and a prospective purchaser. You are invited to review this opportunity and make an offer to purchase based upon [email protected] your analysis. If your offer results in the Seller choosing to open negotiations with you, you will be asked to provide financial CA RE License #01750064 references. The eventual purchaser will be chosen based upon an assessment of price, terms, ability to close the transaction and such other matters as the Seller deems appropriate. The Material is intended solely for the purpose of soliciting expressions of interest from qualified investors for the acquisition Michael Maffia of the Property. The Material is not to be copied and/or used for any other purpose or made available to any other person Managing Partner without the express written consent of Broker or Seller. -
How Tesla Was Lured to Austin
How Tesla Was Lured to Austin Travis County offered the electric car giant a package of tax incentives worth about $1,200 a year for each of the five thousand jobs it promises to create at its new factory. BY: ISAAC ENGELBERG DATE: JULY 29, 2020 Amid a frog-drowning on Sunday, several dozen members of the Austin Tesla Club gathered jubilantly in a parking lot in East Austin. Masked fans cheered as a middle-aged man flashed the Bevo with one hand and fired a flamethrower with the other. The crowd was there to celebrate the deal between Travis County and the electric car manufacturer, inked late last week, to build a $1.1 billion, two-thousand-acre factory, named Giga Texas, in the tiny municipality of Del Valle, near Austin-Bergstrom International Airport. The proposed Tesla plant, which will produce Cybertrucks and Model Y SUVs, is expected to be a billion-dollar investment that will employ five thousand in manufacturing jobs and benefit hundreds of contractors and suppliers. When the deal was announced, Tesla said that about 65 percent of the factory’s jobs will be “middle-skilled” and will not require college degrees, with salaries starting at $35,000 a year and averaging more than $47,000. The company pledged to make at least half of its hires from among Travis County residents, and stated it would make a “good faith effort” to hire women and people of color. The deal was praised by Governor Greg Abbott, the Austin Chamber of Commerce, various local labor groups, and leaders of job training programs. -
2020 | Annual Report
Opportunity Austin 2020 | ANNUAL REPORT 1 Table of Contents Economy 5 – 2020 Scorecard 8 – Relocations 10 – Expansions & Relocations 13 – Global Technology & Innovation 14 – ConnectFirst Talent 16 – Education & Talent Place 19 – Transportation 20 – Local Advocacy 21 – State & Federal Advocacy OA 4.0 23 – Financials 24 – Regional Partners 28 – 2020 GAEDC Board of Directors 30 – Investors For more information: opportunityaustin.com Message to Investors Without question, the 2020 calendar year was dominated by the pandemic and the numerous challenges associated with the disease. As we reflect on the past year, we recognize that many individuals and businesses are struggling to start anew in 2021. That said, it is a fact that the Austin region fared better than most in the country and we are poised to lead the nation in recovery during 2021. Central Texans owe a debt of gratitude to those who invest in Opportunity Austin 4.0. Established in 2004, OA is now in the middle of its fourth five-year program of economic growth goals and objectives. As a result of your investment and personal involvement, we have much good news to share and to celebrate: #1 year in OA history for combined total jobs announced #1 year in OA history for jobs announced from relocations #3 year in OA history for jobs announced and number of projects for expansions 138 venture capital deals $1.78B for local companies In addition to the announcement of Tesla’s Giga Texas, for which the Austin Chamber/Opportunity Austin was awarded Business Facilities’ 2020 Deal of the Year Gold Award, we also welcomed relocations and expansions from Oracle, Amazon, BAE Systems and numerous other great companies.