U.S. EV makers rise amid broader tech gains, strong China NEV sales data

Electrameccanica Vehicles

12/01/2022 15:50

** Shares of U.S.-listed electric vehicle (EV) firms gain
amid a broader rise in technology stocks on Wall Street, after 
largely in-line inflation data eased some concerns about
aggressive interest rate hikes by the Federal Reserve  .N 
    ** Tesla Inc  TSLA.O  up 2.9%, while commercial EV cos
Nikola  NKLA.O , Canoo  GOEV.O , Workhorse  WKHS.O , Lordstown
Motors  RIDE.O  and Rivian Automotive  RIVN.O  add between 0.7%
and 4.8%
    ** Other EV makers Fisker  FSR.N , ElectraMeccanica Vehicles
 SOLO.O , Lucid Group  LCID.O , Nio  NIO.N , Li Auto  LI.O ,
Sono Group NV  SEV.O , Kandi Corporation  KNDI.O , Xpeng Inc
 XPEV.N , Arcimoto  FUV.O  climb between 0.8% and 7%
    ** Canadian electric school bus manufacturer Lion Electric
Co  LEV.N  and California-based Proterra Inc  PTRA.O  add 0.4%
and 3.4%, respectively    
    ** Shares of SPAC Gores Guggenheim  GGPI.O , which is in a
deal to take Swedish electric-car maker Polestar public, gain
1.9%
    ** iShares Self-Driving and Tech ETF  IDRV.K  and Global X
Autonomous and Electric Vehicles ETF  DRIV.O  rise 1.4% each 
    ** Sector also got a boost from data that showed China's
auto sales last year grew for the first time since 2017, boosted
partly by a jump of 1.5 times in sales of new energy vehicles
(NEVs)
    ** China NEV sales, including battery-powered electric
vehicles, plug-in petrol-electric hybrids and hydrogen fuel-cell
vehicles, grew 157.5% to 3.52 mln units in 2021; in December
alone, 531,000 NEVs were sold, up 114% y-o-y  urn:newsml:reuters.com:*:nL1N2TS0AE

 (Reporting by Devik Jain in Bengaluru)
 ((Devik.Jain@thomsonreuters.com; within U.S. +1 646 223 8780;
outside U.S. +91 80 6182 2062; ;))