AYRO - Auto names clipped as electric vehicle industry hits speed bumps

Electric vehicle stocks Ayro ([[AYRO]] -6.7%), Xpeng ([[XPEV]] -5.0%), Arrival ([[ARVL]] -4.6%), Hyliion Holdings ([[HYLN]] -4.2%), Blue Bird ([[BLBD]] -4.0%), QuantumScape ([[QS]] -4.3%) and Kandi Technologies ([[KNDI]] -3.2%) are all trading weak in the morning session. The selling pressure started early in the day after a sequential drop in electric vehicles sales in China was reported for Tesla and others in a development that analyst Gordon Johnson calls troubling. Investors are also weighing a potentially contentious political battle over the infrastructure package and its EV industry support, as well as the ongoing impact of the global chip shortage. The reality check on the EV sector is also hitting auto suppliers like Foresight Autonomous ([[FRSX]] -6.4%), Magna International ([[MGA]] -4.6%), Aptiv ([[APTV]] -3.9%), American Axle & Manufacturing ([[AXL]] -3.4%) and BorgWarner ([[BWA]] -3.4%). Earlier: Electric vehicle stocks fall again as China anxiety ratchets up.

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Auto names clipped as electric vehicle industry hits speed bumps