Mizuho analyst Vijay Rakesh sees BEV (Battery electric vehicle) as a bright spot amid macro headwinds led by China rebounding. He saw Shanghai re-opening and government stimulus set up a robust 2H22 recovery and likely benefit NIO Inc (NYSE: NIO) and Tesla, Inc (NASDAQ:TSLA) (with Berlin also ramping to ~1000/week of model-Y's).
He also expected a better 2H22 from Rivian Automotive, Inc (NASDAQ:RIVN) as production ramps, with chassis, powertrain, and battery production lines ramping well though some commodity chip constraints with a second shift phased in starting June-July and EBITDA breakeven in 2024E.
