EV stocks: Li Auto, Sono Group and QuantumScape rally while AEye goes in reverse
Diego Thomazini/iStock via Getty Images

Electric vehicle tocks saw some sizable gains in Monday morning trading on indications that the supply chain issues in Shanghai are improving. Of note, China followed through over the weekend with some COVID restriction easing in Beijing and Shanghai to help tilt sentiment positive on EV stocks.
Notable gainers include Li Auto (LI) +13.80%, Cenntro Electric Group (CENN) +13.70%, Volcon (NASDAQ:VLCN) +13.11%, Sono Group (SEV) +11.18%, Mullen Automotive (MULN) +10.25%, Nio (NIO) +7.77%, Aurora Innovation (AUR) +6.75%, QuantumScape (QS) +5.85%, Ouster (OUST) +4.88%, and GreenPower Motor Company (GP) +4.80%.
Tesla (TSLA) +2.40% is also higher on the day. Over the weekend, Elon Musk tweeted that Tesla's (TSLA) total workforce would rise over the next 12 months even as number of salaried workers remained broadly the same. It appears that Musk thinks Tesla (TSLA) is overstaffed in some areas, but not with employees that are part of the manufacturing process to assemble cars or battery packs.
It's not all green in the EV sector with AEye (LIDR) peeling off 24.78% on a high-volume move. Shares of LIDR are back to where they stood about four weeks ago without any major news or SEC filings out from the company. AEye (LIDR) execs are due to speak this week at some investor conferences, which may have some traders jittery.
Read the Monday morning broad market update.