Electric vehicle stocks came under selling pressure in the week ended Feb. 24, weighed down by the general rise in risk aversion and a negative earnings report from luxury EV manufacturer Lucid Group, Inc. (NASDAQ: LCID).
Here are the key events that happened in the EV space during the week:
General Motors Company (NYSE: GM) shares dropped 4% on Thursday after the company announced it will be idling production at its Fort Wayne plant for two weeks in late March.
Electric vehicle giant Tesla Inc (NASDAQ: TSLA) is set to hold an Investor Day to highlight the future of the company. Here’s what one analyst says will be the focus of the event.
Consumer Reports, a non-profit organization that does independent testing and research as well as advocacy, recently released its rankings of 32 auto brands based on the overall scores of their models.
Tesla Inc (NASDAQ: TSLA) has a market capitalization of more than $650 billion and CEO Elon Musk owns more than 13% of the company. Based on this, some people might be surprised that Musk has reportedly said he would be okay with the electric vehicle giant going bankrupt.