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BUZZ-EV stocks fall after Tesla cuts prices
Reuters·04/22/2024 10:52:13
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BUZZ-EV stocks fall after Tesla cuts prices

** Shares of EV stocks fall in premarket trade after Tesla TSLA.O cuts prices for its EVs in major global markets including United States

** TSLA down 1.4% at $133.65 premarket

** Following suit, Chinese automaker Li Auto 2015.HK, LI.O cuts prices by around 5% on four of its five models; says it will refund owners who bought those models earlier

** U.S.-listed shares of Li Auto LI.O down 7.2%, Nio NIO.N down 1.3%, Xpeng XPEV.N down 4.3%

** Faraday Future FFIE.O down 1.9% at about 5 cents

** TSLA has been in a price war with peers as co grapples with falling sales

** TSLA's stock lost 41% in market value in 2024


(Reporting by Pranav Kashyap in Bengaluru)

((Pranav.Kashyap@thomsonreuters.com;))

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