LCID - Electric vehicle roundup: FuelCell and Li-Cycle soar growing pains for Lucid Toyota and Tesla oppose union favoritism
Electric vehicle stocks on the move today include Fuelcell Energy (FCEL +19.7%) after its better-than-anticipated earnings report, along with sector peers Romeo Power (RMO +5.4%), Plug Power (PLUG +3.7%) and ChargePoint Holdings (CHPT +0.7%). Li-Cyle (LICY +9.5%) is also sharply higher after a bullish Morgan Stanley call and Lion Electric Company (LEV +8.2%) is attracting some bids after CIBC called out the company's first-mover advantage. EV startup stocks like Lucid Group (LCID -5.6%), Hyzon Motors (HYZN -5.1%), HyreCar (HYRE -4.2%) and Proterra (PTRA -2.6%) are lower on general concerns over their ability to carve out large market share. Tesla (TSLA +0.6%) is right in the middle of the EV pack on the mixed day. The automaker has joined with Toyota Motor (TM +0.4%) to criticize a proposal by House Democrats to give union-made, U.S.-built electric vehicles an additional $4.5K tax incentive. Tesla and Toyota say the plan discriminates against the nearly
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Electric vehicle roundup: FuelCell and Li-Cycle soar, growing pains for Lucid, Toyota and Tesla oppose union favoritism