Electric vehicle stocks face price cuts and competition, Rivian remains stable by introducing new models

From Barchart:

Electric vehicle stocks faced a challenging week with price cuts in response to a growing competition globally. BYD and Tesla offered incentives, impacting Li Auto and Fisker. Rivian had a mixed week, unveiling new models and delaying expansion. The industry struggles with oversupply and falling margins, leading to stock declines.

A price war in China, where Tesla matched BYD’s price cuts, is impacting EV manufacturers worldwide. Rivian introduced new models but delayed expansion, affecting its financial outlook. The industry faces challenges balancing supply and demand, leading to lower margins and potential profitability issues. Most EV stocks declined this week.



Read more at Barchart: Why Rivian Was the 1 EV Stock That Didn’t Drop This Week