EMBK - Electric vehicle roundup: Gains for Nikola Aurora XPeng; setback for Tesla in India

A number of electric vehicle stocks pushed higher in Friday morning trading as the sector stays tightly correlated with some of the recent sentiment on the tech sector and high-growth names. Notable gainers included Aurora Innovation (AUR +9.3%), XPeng (XPEV +7.7%), Li Auto (LI +7.0%), Embark Technologies (EMBK +7.5%), Faraday Future Intelligent (FFIE +7.3%), Vicinity Motor (VEV +7.5%), Luminar Technologies (LAZR +4.3%), Canoo (GOEV +4.1%), Nikola (NKLA +3.3%) and Microvast Holdings (MVST +5.8%). Tesla (TSLA +1.3%) trailed that group just a bit. The biggest development of the day so far for Musk and gang is that the company faced another setback in India when its call for tax break on imports was rejected. The Indian government maintained that the rules already allow for automakers to bring in partially-built vehicles and assembling them locally at a lower levy. So far, Tesla (NASDAQ:TSLA) has held back on presenting a formal plan for

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Electric vehicle roundup: Gains for Nikola, Aurora, XPeng; setback for Tesla in India