EV stocks ended mixed in the week ending Jan. 7, with market leader Tesla, Inc. (NASDAQ: TSLA) giving back the strong gains notched in reaction to its stellar fourth-quarter deliveries. Stocks in the space also came under pressure along with the tech sector in the wake of hawkish commentary from the Federal Reserve this week.
Here are the key events that happened in the EV space during the week:
Tesla Achieves Record Q4 Deliveries, FSD Price Hike, Cathie Continues to Sell And More: Tesla, last Sunday, reported record deliveries of 308,600 vehicles in the fourth quarter, pushing annual deliveries to 936,172 units. The results outperformed expectations by a huge margin.
CEO Elon Musk announced through Twitter, Tesla’s full self-driving software will become more costly, rising to $12,000 beginning Jan. 17. He also said the monthly subscription price will go up when FSD is more widely released.
Cathie Wood’s Ark Invest