Electric vehicle reset as auto giants GM, Ford and Volkswagen charge in
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Electric vehicle stocks are lower again as investors continue to peel away from high-growth, high-PE stocks in favor of low valuation stocks and dividend payers. The usual concerns over the impact of higher interest rates are also in the mix.

EV decliners include REE Automotive (REE
-9.1%), Rivian Automotive (RIVN
-13.7%), Tesla (TSLA
-5.1%), ChargePoint Holdings (CHPT
-5.8%), Blink Charging (BLNK
-6.5%), Lucid Group (LCID
-7.6%), Nio (NIO
-4.4%), Volta (VLTA
-6.3%), Hyzon Motors (HYZN
-5.6%) and QuantumScape (QS
-6.3%). Of note, RIVN dropped to a post-IPO low of $80.20 earlier in the session.
Some analysts are suggesting that the big electrification pushes from legacy auto giants Ford (F
-0.5%), General Motors (GM
-0.7%) and Volkswagen (OTCPK:VLKAF) are factoring in as well as the competition variable becomes more real.
GM drove into the spotlight this week with its reveal at CES of the all-electric Chevy Silverado. The electric Silverado impressed some analysts with its 400-mile range and sharp trims. GM also landed an increased electric van order from Walmart and FedEx via its BrightDrop subsidiary.