Tesla gains 14.8% as EV rivals slump on policy outlook

Tesla shares rose by 14.8% on Wednesday as investors speculated about possible policy changes under a Trump presidency.

The electric car maker, led by CEO Elon Musk, may benefit if subsidies for alternative energy decrease and tariffs on Chinese imports increase.

Other electric vehicle makers saw their stocks decline. Shanghai-based Nio’s shares fell by 5.3%, while Rivian and Lucid Group’s shares dropped by 8.3% and 5.3%, respectively.

Despite the surge, Tesla recently faced a downturn following an underwhelming robotaxi unveiling.

Recent Tesla developments

Timeline
25-Oct-2024 🚗 Tesla shares soar 22% on strong sales growth outlook Tesla shares surged 22% after sales forecast Musk announced plans for a new affordable vehicle
24-Oct-2024 🚗 Tesla plans affordable EV launch in 2025 Tesla plans affordable EVs by 2025 Q3 net income hits $2.2B, beating expectations
24-Oct-2024 📈 Tesla shares surge 12% in Q3 Tesla shares rise 12% post-earnings report Q3 profit boosted by $739M in regulatory credits
11-Oct-2024 🚖 Tesla launches much-awaited autonomous taxi Musk introduces Cybercab, priced under $30K Production set to start before 2027 amid skepticism
04-Oct-2024 🚗 Tesla produces 470k EVs in Q3 Tesla produced 470,000 EVs in Q3 2023 6.9 GWh of energy storage deployed last quarter

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Recent Tesla developments

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