According to the information obtained from the Zhitong Finance APP, on September 29th (Friday), the stocks of new energy vehicle companies rose. As of the time of writing, Xpeng Motors (XPEV.US) rose more than 3.6%, Rivian Automotive (RIVN.US) rose more than 3%, Tesla (TSLA.US) rose more than 2.5%, Li Auto (LI.US) rose more than 2%, and NIO (NIO.US) saw a slight increase.
In terms of news, Deutsche Bank previously lowered the target price for Tesla's stock and warned that the electric vehicle manufacturer's profitability will face strong headwinds in 2024. The bank reiterated its buy rating on Tesla's stock, but lowered the target price to $285 per share, a 5% decrease from the previous target price of $300 per share.

TSLA

New energy vehicle stocks are rising, as of the time of writing, Tesla is up more than 2.5%.

US Stock Market Update | New Energy Vehicle Stocks Rise, Tesla Surges Over 2.5%