Tesla's China woes; Lucid commits to NACS: This week in EVs
Investing.com — Here is your weekly Pro Recap of the past week's biggest headlines in the electric vehicle space: Lucid commits to NACS in 2025; Tesla slumps in China; and XPeng delivers big.
As always, InvestingPro users got these headlines at lightning speed. Never miss another opportunity to secure an edge for your portfolio.
Lucid Motors (NASDAQ:LCID) has joined the league of automakers adopting Tesla's (NASDAQ:TSLA) North American Charging Standard (NACS) for their electric vehicles. Lucid announced on Monday its decision to integrate NACS connectors into its EVs starting in 2025. Lucid's vehicles, currently using the Combined Charging System (CCS), will be able to charge at Tesla Supercharger stations with an adapter.
This move follows in the footsteps of Ford (NYSE:F) and General Motors (NYSE: NYSE:GM), making Lucid the latest in a growing list of car manufacturers to choose the Tesla Standard charging connection. Among the others are Toyota (NYSE:TM), Honda (TYO:7267) (NYSE:HMC), Rivian (NASDAQ:RIVN), BMW (ETR:BMWG) (OTC:BMWYY), Hyundai (KS:005380) (OTC:HYMTF), Mercedes Benz (ETR:MBGn) (OTC:MBGAF), and Fisker (NYSE:FSR).
Shares of LCID ended the week down 15.36%.
On the other side of the globe, Tesla is navigating challenges in China: The China Passenger Car Association reported a 2.6% month-over-month decline in Tesla's October deliveries, with 72,115 China-made Tesla EVs reaching customers. Sales of China-made Model 3 and Model Y cars managed a modest 0.6% increase from the previous year.
Tesla's focus on sales over profits in China has led to increased competition from domestic rivals. Despite offering discounts, Tesla saw its profit margins take a hit without a corresponding rise in market share. In Q3,
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