RIDE - Electric vehicle stocks fall after negative developments with Nikola and Kandi

There is selling pressure in the EV sector amid some disappointment over Nikola failing to land an equity investment from General Motors and Kandi Technologies being slammed with a negative report from Hindenburg Research. There are still some reverberations in China from last week's report of a probe into Evergrande Auto (EGRNY) by the National Development and Reform Commission. Decliners on the day include GreenPower Motor ([[GP]] -8.4%), Ayro ([[AYRO]] -11.1%), XPeng ([[XPEV]] -9.9%), Li Auto ([[LI]] -8.3%), Lordstown Motors ([[RIDE]] -7.1%), Hyliion Holdings ([[HYLN]] -16.0%), Westport Fuel Systems ([[WPRT]] -4.8%), Workhorse Group ([[WKHS]] -4.6%) and Fisker ([[FSR]] -5.2%).Later this week, the first release on China auto sales for November is expected to be posted.

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Electric vehicle stocks fall after negative developments with Nikola and Kandi