Tesla in talks with China’s EVE for a low-cost battery supply deal
TESLA Inc is in talks with Chinese battery maker EVE Energy Co. Ltd.
SHANGHAI/HONG KONG (Reuters) – Tesla (NASDAQ:TSLA) Inc is in talks with Chinese battery maker EVE Energy Co to feature the firm to its Shanghai factory supply chain, four people conversant in the matter said, because it seeks to spice up procurement of lower cost batteries.
EVE Energy Company Ltd makes lithium iron phosphate (LFP) batteries, which are cheaper to supply because they use iron rather than costlier nickel and cobalt.
As we know LFP batteries generally used for shorter range on one charge, But its competitor is more popular as they are using nickel/cobalt alternative.
EVE Energy Company Ltd would become the second supplier of LFP batteries to Tesla after China’s Contemporary Amperex Technology Co (CATL).
The talks are advanced and therefore the Palo Alto, California-based company is seeking to finalise the partnership within the third quarter, said two of the people.
Shenzhen-listed EVE is now running some final-stage tests of its products for Tesla, said one person.
All sources declined to be named because the discussions are private. Tesla and EVE didn’t reply to the news agency as they requests for comment.
Business Of EVE Energy Co. Ltd
EVE Energy Co. Ltd. Researches manufactures and sells lithium batteries. The Company produces lithium-ion batteries, lithium primary batteries, energy storage systems, power systems, and others. EVE Energy Co. Ltd also operates import and export businesses.
Tesla & EVE Energy Chart Analysis
Monthly Chart Tesla
Tesla in talks With China’s EVE Energy Co. Ltd.
In our Monthly chart, we see that in Feb 2019, We got a Buy signal in TESLA @ 66, and from 66 it becomes a rocket and touches 900 in Jan 2021, and now it will come down to 570 from 900.
Weekly Chart Tesla
Tesla in talks With China’s EVE Energy Co. Ltd.
In our Weekly chart, we see that on 8th March 2021, We got a Short signal in TESLA @ 680, and from 680 it will come down to 570.
Daily Chart Tesla
In our Daily chart, we see that on 4th May 2021, We got a Short signal in TESLA @ 682, and from 682 it will come down to 570.
Monthly Chart EVE Energy Co Ltd.
On our Monthly chart EVE, energy Co Ltd generates Buy Signal near 1.8 in March 2013 and from 1.8 it becomes 88.
Weekly Chart EVE Energy Co Ltd.
On our Weekly chart EVE, energy Co Ltd generates Buy Signal near 16 on 10th Dec 2018 and from 16 it becomes 88.
Daily Chart EVE Energy Co Ltd.
On our Daily chart EVE, energy Co Ltd generates Buy Signal near 52 on 12th October 2020 and from 52 it becomes 88.
Conclusion:
After analyzing all the above charts it clears that we stay away from Tesla and Buy EVE Energy Co. Ltd. near 88.
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