The best EV plays are now in China. Analysts are raising price targets

With Apple reportedly out of the electric car game and Tesla losing market share in some Chinese cities, the best EV stock plays are arguably now all based in China. The country is the world’s largest auto market, with new energy vehicle penetration of at least 30%. Most of those cars come from homegrown brands. Tesla China lost market share in January, mainly in China’s large cities, “despite price cuts” announced that month, Morgan Stanley analysts said in a Feb. 28 report that looked at the prior month’s sales distribution. Xpeng and Nio lost share across regions, while BYD saw…