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Today's big stories

Tesla delivered a record number of cars in China last month
Here’s how you can invest like a $10-trillion asset manager – Read Now
British firms are treating investors by repurchasing heaps of shares

Tesla Motors Ahead In China

What’s Going On Here?

Data out over the weekend showed that Tesla delivered a record number of cars in China last month.

What Does This Mean?

Musk might've been licking his wounds after last quarter’s disappointing global deliveries report, but delivering a record 83,000 EVs in the world’s biggest auto market last month might turn his frown upside down. That’s not to say the bumper showing has come as a complete bolt from the blue: there were a couple of key catalysts at play. For one, Tesla’s factory in Shanghai was recently upgraded, boosting the number of cars it can produce each week by 30%. And for another, the company started wooing Chinese customers with insurance incentives in September, which have appealed to drivers who were already sick of rising fuel costs.

Why Should I Care?

The bigger picture: You win some, you lose some.
Tesla might be making strides in China, but its competitors are doing their damnedest to edge into the firm’s other strongholds. BYD – the world’s third most valuable car company after Toyota and Tesla – recently unveiled plans to launch in Europe, an early step in its ambitious global expansion. And Chinese firm Nio wants a slice of that sweet European pie too, announcing last week that – after a year of sales in Norway – it now plans to sell cars throughout the continent.

Zooming out: China’s not so hot right now.
It’s no surprise that Tesla’s Chinese rivals are looking to expand overseas with the economy in tatters. Data out over the weekend showed that China’s services industry shrank for the first time in four months in September, as the country’s zero-Covid strategy took a toll on consumer spending. And with the current government due to be handed a fresh five-year leadership term this week, it doesn’t look like that policy’s going to change any time soon.

You might also like: What investors are getting wrong about the EV market right now.

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Analyst Take

Where BlackRock Sees Light Through All The Dark Clouds

By Jonathan Hobbs, Analyst

I’m going to save you some time this week.

BlackRock, the world’s biggest investment house with nearly $10 trillion in assets under management, just completed its global outlook report for the fourth quarter.

Those pages lay out where the firm sees the economy and markets headed next, and where it’s putting its clients’ money now.

I’ve carefully read over the slide deck (twice) so you don’t have to, and I’ve made a note of everything you need to know about it.

That’s today’s Insight: here’s how BlackRock is investing now.

Read or listen to the Insight here

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