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For example, Rivian’s stock has dropped approximately 37% since October 27th, while Lucid is down about 48%. Interestingly, Chinese automaker BYD has bucked the trend—its stock has increased during the same period, indicating that not all EV companies are suffering equally.
Other Chinese EV brands such as Nio and XPeng have also seen gains, suggesting that Tesla’s decline may be more about company-specific issues or investor confidence shifts rather than macroeconomic factors alone.