From Nasdaq:

Tesla led the charge in electric vehicle stocks last week, seeing a 3.01% increase. Despite a 24% month-over-month drop in sales in China, the company sold 71,447 electric vehicles in January. The auto giant also sought to lower import duties for its cars in India to allow for localization manufacturing in the country. On a different front, the India Ministry of Heavy Industries said it wouldn’t contemplate a policy to satisfy Tesla’s request for incentives, while rumors suggest Tesla might set up a manufacturing plant in the northwestern state of Gujarat. Meanwhile, Rivian has announced two new battery packs, challenging start-ups saw weekly declines. Nikola Corp. has rejected a slate of five dissident nominees. Meanwhile, EVs from Nio, XPeng, and Li Auto also had a good showing, ending the week up 7.04%, 3.66%, and 8.36%, respectively. Fisker posted a decline of 3.26% for the week. For the week, the KraneShares Electric Vehicles and Future Mobility Index ETF (NYSE:KARS) was up 3.23%. 89% of retail investor accounts lose money when trading CFDs, according to eToro.



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