ahead of the opening bell we got some movers for you shares of contemporary amp Rex technology also known as cattle their fella in the Chinese trading after Morgan Stanley slashed its rating to underweight on fears that Tesla will leave the battery maker in the dust it comes as the model 3 is now eligible for the 7 500 tax credit in the U.S and there are implications of for uh some requirements attached to that credit Yahoo finance this Pro Superman is here to explain so Pros uh good news I guess for Tesla want to be test buyers in the U.S but not great news for cattle yeah you know some concern here for a cal or catl China is a big lfp battery maker makes better for many automakers uh the news yesterday was Tesla's cheapest model three and that qualifies for the full Ed tax credit uh Tesla head used catil batteries sells in the past with the baseball three it seems Tesla must have updated where the battery minerals are coming from or increase the value of North American components which sort of make up how you get the full credit so we don't know what happened because neither Tesla or the US government uh said exactly how they got that tax rate but it's definitely true that some different batteries are being used here so Morgan's not a concerned that automakers in the US will will use North American Battery makers and joint ventures more along the lines of let's say LG and GM and Tesla and Panasonic to take advantage of those garment incentives but we did see Ford sign a deal with ca-tailed as licensed Tech and make batteries here in the US and Michigan so they do have some options here Beyond Chinese manufacturing and Pros while we have you there's also some recent of course new price changes when it comes to Tesla in select States what do we know about how they're trying to continue to kind of bring down the pricing based on tax credits yeah so and I wrote about this yesterday so that really interesting stuff here so that model three Now That Base version right uh is is qualified for that full 7 500 tax credit but now if you go in States like California they have their own 7 500 tax credit so that brings that base model three down to uh around twenty six thousand dollars uh add in other incentives that Tesla is using on a regional basis in California for instance there's a two thousand dollar incentive there you can get a car for like 23 000 a brand new Tesla monthly so a big deal there for some buyers especially in California for the mile three yes indeed and it looks like by the way that Tesla is making new highs for the year here had a recent surge um that is continuing today just checking to see how many days in a row Tesla's been up one two three four five six seven eight eight sessions in a row uh going into today's session that Tesla's been on the rise so we'll see if it continues profs thanks a lot appreciate it
