ThesisThe company's declining sales and increasing competition in the EV space are raising concerns about its future profitability and market position.
★ Analysts see FY2026 revenue reaching $111.4B — +15.4% growth in a single year.
What Could Go Wrong
01Declining sales in the passenger vehicle segment, down 15% YoY, indicating a potential shift in consumer preferences towards EVs.
02Increased competition from local EV manufacturers, with market share losses reported at 5% in the last quarter.
03Rising raw material costs, particularly for lithium and cobalt, could further compress margins, with estimates suggesting a 3% increase in production costs.
04Technological disruption from electric and autonomous vehicles
05Regulatory changes related to emissions standards
06Intensifying competition from domestic EV manufacturers
