Spotlight on the electric vehicle sector:
The rough ride for electric vehicle stocks in 2022 has not showed any signs of easing, even with a few bright Q1 earnings report turned in over the last two weeks. The spotlight could move back to the long-term potential of electrification with the FT Future of the Car Summit next week featuring Mercedes-Benz (OTCPK:DDAIF) Ola Källenius, Waymo (GOOG) Co-CEO Tekedra Mawakana, Tesla (TSLA) CEO Elon Musk, as well as appearances by the chiefs of Lucid Group (NASDAQ:LCID), Aurora Innovation (AUR), and Polestar (GGPI). TuSimple (NASDAQ:TSP) also has an Investor Day event scheduled for next week in Tucson, Arizona to talk up ita autonomous vehicle technology, as well as update on near-term milestones and the path to commercialization.
The EV events will take place with share prices across the sector in reverse with names like Arrival (ARVL) -73% YTD, Cenntro Electric (CENN) -68%, Sono Group (SEV) -59%, Nio (NIO) -51%, Lordstown Motors (RIDE) -40%, Fisker (FSR) -37%, and Nikola (NKLA) -34% deep in the red. EV juggernaut Tesla trades about 30% below its all-time high.