TREE NEWS reports: The Bloomberg Electric Vehicle Price Return Index fell 1.51% to 3,119.71 on Monday, October 12, after briefly rising to an intraday high of 3,187.66 in Asia-Pacific morning trade. Losses widened through the US session, with Lucid Group down 9.37%, MP Materials 6.03%, Xiaomi’s Hong Kong shares 5.55%, Hesai ADRs 5.56% and Tesla 1.22%. Volvo Car gained 3.35% in Europe and Zhejiang Leapmotor rose 4.31% in Hong Kong.
Bloomberg EV Price Return Index Falls 1.51% to 3,119.71
AI take
The dispersion matters more than the headline decline: a broad EV gauge slipping while European and Hong Kong names like Volvo Car and Zhejiang Leapmotor close higher suggests this was a US-listed and Asia-tech drawdown rather than a sector-wide repricing. The heaviest losses sit in speculative, rate-sensitive names — Lucid, MP Materials, Hesai — while Tesla's modest move anchors the downside. Whether the weakness stays concentrated in those higher-beta listings, or spreads to the European and Chinese names that bucked the trend, is the open question.
Generated by AI for reference only.
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