Tesla, Lordstown Motors and Sono Group lead electric vehicle sector higher
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Electric vehicle stocks moved higher in early trading as investors dipped back into the sector after the sharp 2022 sell-off.
Tesla (NASDAQ:TSLA) is showing an early gain of 5.55% after attracting an upgrade from Credit Suisse. Crucially, analyst Dan Levy and team think that strong margins from the EV juggernaut are sustainable along with volume growth.
Other big movers in early trading include Lordstown Motors (RIDE
+16.7%), Workhorse Group (WKHS
+13.1%), Foresight Autonomous Holdings (FRSX
+11.2%), Sono Group (SEV
+7.8%), Nio (NIO
+9.5%), TuSimple (TSP
+9.5%), Arcimoto (FUV
+8.2%), QuantumScape (QS
+7.8%), Rivian Automotive (RIVN
+5.2%) and Ouster (OUST
+7.0%).
The electric vehicle sector could get a jolt tomorrow when Chinese automakers Nio, Li Auto (LI
+5.8%) and XPeng (XPEV
+6.3%) report on monthly deliveries.