LI - Why Fisker and Li Auto Dropped but Freyr Stock Popped Tuesday
2024-01-02 15:19:04 ET
It's a mixed up day in the electric car market Tuesday, as shares of electric vehicle (EV) start-up carmaker Fisker (NYSE: FSR) fall 7.7% through 2:10 p.m. ET, and Chinese rival Li Auto (NASDAQ: LI) falls 8.3%, while lithium battery company Freyr Battery (NYSE: FREY) moves in the other direction -- up 3.5%.
Company updates on important developments appear to be driving each of the moves.
Let's begin with the electric carmakers. On Friday, just before the New Year's holiday, Fisker confirmed its final EV numbers for 2023: 10,142 Fisker Ocean electric SUVs produced, but less than half of those -- 4,700 -- delivered to customers.
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Why Fisker and Li Auto Dropped, but Freyr Stock Popped Tuesday