EV stocks gains as Biden vows to electrify U.S. government's fleet

Kandi Technologies

26/01/2021 15:24

** Shares of electric vehicle makers Nikola Corp  NKLA.O ,
Tesla Inc  TSLA.O  and Lordstown Motors Corp  RIDE.O  up in
early trading
    ** President Joe Biden on Monday vows to replace U.S.
government's fleet of roughly 650,000 vehicles with electric
models as new administration shifts focus toward clean-energy
 urn:newsml:reuters.com:*:nL1N2K02O4
    ** Biden also vows to build 550,000 EV charging stations and
spend more in clean energy research
    ** NKLA, which is set for a fourth straight session of gains
is up 14.5% at $23.76
    ** TSLA, which had gained more than 7-folds in the last 12
months, up as much as 1.7% at $895.90; on track for a third
straight session of gains
    ** Shares of electric pickup truck maker RIDE, which is on
track to snap two-day losing streak is up as much as 14.1% at
$26.49
    ** Up to Monday's close, RIDE had risen ~131% while NKLA had
doubled in value in last 12 months


 (Reporting by Tiyashi Datta in Bengaluru)
 ((tiyashi.datta@thomsonreuters.com))