Finimize - ⚔️ Tesla vs. BYD

Clash of the EV titans | Nvidia 'fesses up |

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Today's big stories

  1. Chinese EV sales can’t stop, won’t stop
  2. Our analyst thinks there are three reasons to believe bitcoin has now officially bottomed – Read Now
  3. Nvidia warned investors to steel themselves for its next earnings report

China’s EV Sales Keep Making The Rest Of Us Look Bad

China’s EV Sales Keep Making The Rest Of Us Look Bad

What’s Going On Here?

Chinese EV sales are forecast to hit a record 6 million this year, according to data out on Tuesday.

What Does This Mean?

There were twice as many sales of “new energy vehicles” (NEVs) – both pure battery EVs and plug-in hybrids – in July as there were a year ago, according to the China Passenger Car Association (tweet this). That brings the total to around 486,000, or 27% of the country’s car market that month. That’s led the organization to increase its forecasts for this year’s NEV sales, lifting them to 6 million. That’s double last year’s total, and dwarfs the 3.2 million and 1.2 million expected to be sold in Europe and the US in 2022.

Why Should I Care?

Zooming in: BYD isn’t playing fair.
The data also showed that Tesla sold 64% fewer vehicles in July than the month before, largely because Tesla shut its Shanghai gigafactory for an upgrade. That means BYD sold almost six times more than its biggest rival, but it does have an added advantage: plug-in hybrids accounted for more than half its sales, while Tesla doesn’t make them at all. That’s important because they’re much easier to pitch to EV-curious buyers: they come with the same subsidies they would if they were an out-and-out EV, along with a traditional engine in case they run out of juice.

The bigger picture: The US comes through.
China is by far the EV frontrunner, but at least the US is trying to close the gap: it passed a bill on Sunday that – among other green initiatives – lifts the cap on the number of tax credits that EV makers are eligible for. That’s a big win for Tesla, which hit the limit way back in 2018. Better yet, its major rivals Lucid Motors and Rivian don’t have any models cheap enough to qualify for the credit, which is only available on new EVs under $55,000.

You might also like: How to profit from EVs.

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Analyst Take

Three Reasons Why Bitcoin Could Trend Upward From Here

Three Reasons Why Bitcoin Could Trend Upward From Here

By Jonathan Hobbs, Analyst

Bitcoin has now jumped 35% from its mid-June depths.

And while there could be a short-term pullback, there are some good reasons to believe the tide is officially turning for the OG crypto.

Like – well, no spoilers.

So that’s today’s Insight: three reasons the future might be bright for bitcoin.

Read or listen to the Insight here

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Nvidia Couldn’t Wait To Break The Bad News To Investors

Nvidia Couldn’t Wait To Break The Bad News To Investors

What’s Going On Here?

Chipmaker Nvidia gave a far worse-than-expected earnings preview earlier this week.

What Does This Mean?

Nvidia isn’t due to give its official quarterly earnings update until later this month, but things seem so bleak that it’d rather let the cat out the bag sooner rather than later. The chipmaker’s expecting its second-quarter revenue to come in around $6.7 billion – a 19% drop from the quarter before, and well below the $8.1 billion it previously predicted. It put that down to its gaming division: Nvidia’s expecting its second-quarter gaming revenue – which accounted for almost 60% of its sales last year – to be 44% lower than the quarter before, and a third less than the same time in 2021. Investors certainly weren’t playing games: they sent Nvidia’s shares down 6% after the announcement.

Why Should I Care?

Zooming in: Was it really gaming, though?
You’d be forgiven for thinking that gamers have just been turning off their consoles, but there could be something else at play. Nvidia was fined by US regulators back in May for attributing a huge boost in revenue to its gaming segment, even though a lot of those high-spec chips were actually going to crypto miners. So it’s probably no coincidence that the segment’s sales have dropped off just as the prices of bitcoin and ether – and in turn the potential rewards from mining – are down by over 50% this year.

The bigger picture: This could be just the start.
Nvidia can categorize its crypto mining chips however it likes: it’s not going to change the fact that Ethereum is doing away with mining altogether on September 12th in one of the biggest events ever seen in the crypto world. That’ll wipe out a huge source of demand in one fell swoop, and could take the chipmaker’s revenue along with it.

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💬 Quote of the day

“You will never win if you never begin.”

– Helen Rowland (an American journalist and humorist)
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🎉 Coming Up In The Next Week…

All events in UK time.

🤑 How To Protect Your Crypto Portfolio During A Recession: 5pm, August 15th
💰 The Secret To Making Money During High Inflation: 1pm, August 16th
💻 How To Spot The Best Tech Stocks: 6pm, August 16th

🥳 And After That…

🤯 Inflation Strategies For Savvy Investors: 12pm, August 18th
🏈 Crypto And The Sports Community: 5pm, August 23rd
👑 How To Invest In Gold On The Blockchain: 5pm, August 25th
😎 How To Spot The Next Ethereum Killer: 1pm, August 30th
🧬 How To Profit From Genomics: 5pm, August 30th
🎉 How To Build Wealth In Your 20s: 5pm, September 1st
💵 Building Crypto Wealth In A Bear Market: 12pm, September 20th

🎯 On Our Radar

  1. Costco isn’t just for bulk-buying food. You can get your new wardrobe there too.
  2. “No, I haven’t been in a car crash recently”. Those annoying spam calls might come to an end soon.
  3. TikTokers are drinking sea moss. That doesn’t mean you have to.
  4. Is music “just music”? Here’s the debate over abusive lyrics.
  5. Instagram is changing. Thanks a lot, Facebook.
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