EV stocks get a broad boost after Tesla, Rivian, Nio report upbeat deliveries data

Shares of electric vehicle makers got a broad boost Monday, after upbeat delivery and production data from a host of companies, including industry leader Tesla Inc. and those based in China.

The Global X Autonomous and Electric Vehicles exchange-traded fund DRIV jumped as much as 1.7% intraday, before paring gains to close up 1.1%. It has climbed 5.7% amid a five-day win streak. The ETF outperformed the broader stock market by a wide margin, as the S&P 500 index SPX inched up 0.1% and the Nasdaq Composite COMP edged up 0.2%.

The ETF’s second-most active member was Rivian Automotive Inc.’s stock RIVN , which shot up 17.4% to its highest close since Feb. 17, and rocketed 45.4% amid a five-day win streak. Among its China-based peers, the U.S.-listed shares of Xpeng Inc. XPEV advanced 4.2% to the highest close since Sept. 26, 2022, of Li Auto Inc. LI hiked up 3.4% to the highest close since July 21, 2022 and of Boyd Co. Ltd. BYDDY rose 3.1%.

Energy Energy Latest News, Energy Energy Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

NIO Electric Car Sales Exceeded 10,000 In June 2023In June, NIO global electric car deliveries amounted to 10,707, which is one of better results this year, but over 17 percent lower than a year ago.
Source: InsideEVs - 🏆 579. / 51 Read more »

Plans Underway For Rwanda To Get 200 Electric Buses! - CleanTechnicaA lot of exciting things are happening in the electric mobility space in Rwanda. First there is Ampersand, one of the pioneers and leaders of the electric motorcycle sector in Africa. Ampersand has recently celebrated the deployment of its 1,000th electric motorcycle. There is also Rwanda Electric Motors. In the electric car space, KABISA wants […]
Source: cleantechnica - 🏆 565. / 51 Read more »

Nio, XPeng stocks surge after EV delivery dataShares of China-based electric-vehicle makers surged Monday, after they reported June deliveries that showed big jumps from May.
Source: MarketWatch - 🏆 3. / 97 Read more »