Morgan Stanley analyst Adam Jonas said feedback gathered by his firm's team from local Chinese suppliers indicates that Tesla may be able to ramp production there faster than he had anticipated. The construction of Gigafactory 3 in Shanghai "tracks perfectly on schedule as to last week" and looks set to be ready by the end of September for complete production to start from November, the feedback indicated, according to Jonas. While he anticipates significant pent-up demand for Tesla's locally produced vehicles in China, Jonas expects China to account for less than 200,000 units of Tesla deliveries annually by 2022, he noted. He keeps an Equal Weight rating and $230 price target on Tesla shares.

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here

General Motors (GM) is scheduled to report quarterly results before market open on Tuesday, April 23, with a conference call scheduled for 8:30 am EST, while Ford (F) is scheduled to report after market close on Wednesday, April 24, with a conference call scheduled for 5:00 pm EST. What to watch... To see the rest of the story go to thefly.com. See Story Here

Institutional investors and professional traders rely on The Fly to keep up-to-the-second on breaking news in the electric vehicle and clean energy space, as well as which stocks in these sectors that the best analysts on Wall Street are saying to buy and sell. From the hotly-debated... To see the rest of the story go to thefly.com. See Story Here

Tesla eliminated a newly formed marketing team as part of its companywide layoffs, reversing course from a traditional advertising push that Chief Executive Officer Elon Musk greenlighted less than a year ago, Ed Ludlow of Bloomberg reports. The company's "growth content" team in the U.S., a group of about 40 employees run by senior manager Alex Ingram, was eliminated in the ongoing job cuts, people familiar with the matter told Bloomberg. Ingram was part of the reduction, one of the people said. The company still has a smaller marketing group in Europe, the source added. There were also significant layoffs in Tesla's design studio and staff located in Hawthorne, California, said the people.

Check out this morning's top movers from around Wall Street, compiled by The Fly.  HIGHER - Vista... To see the rest of the story go to thefly.com. See Story Here

Friday's total option volume of 56.7 million contracts resulted in net open interest growth of 6.01 million calls and 5.28 million puts. NVIDIA (NVDA), Tesla (TSLA), Apple (AAPL) and Advanced Micro Devices (AMD) saw the greatest growth. Top five new positions opened include 50k Lyft (LYFT) May-24 20 calls, 44k Energy Transfer (ET) 4/26 weekly 16.5 calls, 43k Las Vegas Sands (LVS) Sep-24 41 calls, 23k Tesla (TSLA) 4/26 weekly 162.5 calls and 21k Papa John's (PZZA) Jun-24 57.5 puts.

Chinese automaker Li Auto (LI) has slashed prices by roughly 5% on four of its five models and announced it would refund owners who purchased those models earlier this year, Reuters' Brenda Goh reports, citing the cuts. The company announced cuts of between 18,000 and 30,000 yuan on its L7, Li L8, Li L9, and Li MEGA models, which comes after price revisions by Tesla (TSLA) and BYD (BYDDF). Reference Link

Tesla has cut prices in a number of its major markets - including in China and Germany - after price cuts in the United States - as it grapples with falling sales and an intensifying price war for electric vehicles, especially against cheaper Chinese EVs, Reuters' Hyunjoo Jin, Ethan Wang and Christoph Steitz report. The swathe of price cuts comes after Elon Musk's EV maker reported this month that its global vehicle deliveries in the first quarter fell for the first time in nearly four years. Reference Link

Tesla slashed the price of its Full Self-Driving, or FSD, driver assistant software to $8,000 from $12,000 in the United States, as CEO Elon Musk doubles down on self-driving technology, according to Reuters. According to the Tesla website, customers can now pay $8,000 for the FSD feature, or subscribe to use it for $99 a month. Reference Link