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rivian and mercedes-benz announcing today that the automakers will team up to bring electric commercial vans to europe the pair is going to build two different ev vans at existing mercedes sites in both central and eastern europe rivien is really moving on the news take a look at the jump here of about 9.8 percent mercedes-benz down about two and a half percent at this hour but let's bring in wedbush securities managing director dan ives who gave rivian an outperform rating and has a price target of 45.
what does an announcement like this rivian partnering up with a platinum brand like mercedes do for the future of this stock well it's a potential game changer because europe you look that's really been the missing piece in the ribbian puzzle and now you're really starting to see growth ramp they're starting to actually produce the vehicles and rivian's a unique model and a partner like mercedes is significant and it's on the street kind of uses the next leg of growth you know there was some concern about rivien because obviously amazon has made a huge order but they've taken a hit the stock has disappointed certainly over the past half a year uh does this solidify a better feeling that you have about your outperform rating look i think the first six months were a nightmare you know coming out from the ipo but clearly now you've seen r.j and the team they've started get the factory ramping they'll hit the 25 000 for the year in terms of deliveries and then those reservations they've actually increased not decrease in this macro you put together this continues to be a unique ev story of course there's tesla but i view rivia as one of really the disrupters in this market for the next decade let me dovetail too tesla tesla coming out with some great numbers on chinese-made teslas and they've really ramped up the delivery numbers here in obviously they were coming from a very low point because the shanghai gigafactory had been shuttered due to a covet outbreak but now they're back in action how much higher do these delivery numbers go from shanghai giga yeah and you go look the hearts and lungs of the tassel stories china and you go back to the april and they shut down because of zero covert and now it's really come back roaring in terms of the china numbers and we could be looking potentially 100k month for china and this is significant because ultimately what drives tesla in terms of the stock and we have i think this is ultimately a 350 or 400 stock obviously split adjusted it's all china and this is something this really gives the bulls a leg to stand on and it shows that this is actually not slowing down it's accelerating yeah we're at 287 90 right now for tesla tesla though can probably hear the breath of their competitors on their neck coming up behind them on the track and i'm not just talking about general motors that has made a big deal or ford we talked about earlier in the show but jeep wagoneer announcing today so this is of course owned by stellantis they're going eevee finally with the jeeps i mean what kind of competition is that going to do and does it dilute tesla's power yeah this is an arms race that's going on it's the biggest transformation in our opinion to the auto industry since 1950 is in that 313 area code across detroit you're seeing all those stalwarts go after ev i want a wrangler a wrangler ev2 yeah and look what mary and the team have done at gm we've seen with farley at four now still anna so this is significant but also it's not a zero-sum game i don't view it as one or the other i think this is just going to be a massive re-rating story but what we're now seeing is it's not just a vision you're actually seeing the cars now gonna start to come out with the battery technology and this is big for the auto industry if you had to pick one though well you say it's not a zero it's like saying oh internal combustion cars were a zero sum you wouldn't say that there isn't just one winner is there so if you had to pick one to own though what would it be look in the eevee landscape it's still tesla's world and everyone else is paying rent so tesla continues to be our name but when you look at the stalwarts right now gm and ford it's going to be really a game of thrones battle in terms of you know who's really going to be the first one to move here i continue to think it's going to be successful and i think right now gm as well as ford this is going to be a huge lego growth okay and finally apple the big news yesterday that we talked about they made all of their announcements whether it was the airpods that now have the find my or the satellite adoption within the new iphone 14 aside from all of that what jumped out at you the most as far as a driver for apple stock going forward i think no price increase that was a shock or that they didn't raise prices i mean this is a foregone conclusion hundred dollar price increase cook and cupertino kept prices unchanged and i think what that shows is more control over the supply chain the margin accretion from the chips their own chips the a16 and that's that's not gonna be demand destruction i think that was significant especially with that powered chip no price increase goes against everything else we've seen from you know amazon to netflix to everyone else it just shows i think cook and cupertino flexing their muscles oh well dan you're all over it please come back thank you so much dan ives of wedbush
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