Electric vehicle stocks are getting caught up in the great value reset of 2022
Spencer Platt/Getty Images News


Electric vehicle stocks are sharply lower as investors continue to shift away from high-multiple stocks in the tech and auto sectors toward value stocks. Concerns over the cost and supply of semiconductors are also in the mix today.

Notable decliners include Arrival (ARVL
-10.0%), TuSimple (TSP
-7.3%), Nikola (NKLA
-8.2%), Cenntro Electric Group (CENN
-12.0%), Luminar Technologies (LAZR
-7.3%), Sono Group (SEV
-9.4%), QuantumScape (QS
-8.1%), Blink Charging (BLNK
-6.7%) and ChargePoint Holdings (CHPT
-6.2%).
Chinese automaker names Nio (NIO
-5.8%), Li Auto (LI
-4.0%) and XPeng (XPEV
-5.4%) are also lower amid broad selling of U.S.-listed Chinese stocks. Detroit auto giants Ford (F
-4.6%) and General Motors (GM
-2.9%) are also in reverse as they lose some of their recent EV premiums.
Meanwhile, Tesla (TSLA
-4.1%) is in the middle of the pack with investors starting to look forward to the earnings report on January 26.
Which auto stock has held up amid the selloff? Tata Motors (TTM
-4.3%) has the mildest decline over the last week and Stellantis (STLA
-1.0%) is still up double-digits over the last six weeks. Compare returns across the auto industry.