AUR - Electric vehicle stocks race higher ahead of Tesla earnings

The electric vehicle sector is having a strong day to cut into the anxiety that has built up over supply chain problems, inflation costs and the impact of higher interest rates on valuation.

Leading the EV pack, Workhorse Group ( NASDAQ: WKHS ) shot up 15.85% after a bigger electric vehicle commitment from USPS. The postal agency is proposing to purchase over 34,500 commercial off-the-shelf delivery vehicles over two years, which bodes well for Workhorse ( WKHS ).

GreenPower Motor Company ( GP ) moved up 12.85% after announcing that its customers in Canada can now receive funding under Transport Canada's newly launched incentive program for Medium and Heavy-Duty Zero-Emission Vehicles. Thirteen of GreenPower's vehicle models are eligible for incentives from $75,000 up to $150,000 including the EV Star vehicle line up and shuttle buses.

Other big EV movers on the day include Arrival ( ARVL ) +11.29% , ChargePoint Holdings ( CHPT ) +9.10% , Aeva Technologies ( AEVA ) +8.24% , Aurora Innovation ( AUR ) +7.38% , TuSimple Holdings ( TSP ) +7.10% , Proterra ( PTRA ) +6.86% and Lordstown Motors ( RIDE ) +6.85% .

Tesla ( TSLA ) is holding steady with a 0.75% gain ahead of its big earnings report after the closing bell. Join the conversation about the stock in the Tesla earnings preview.

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