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From what we've read and heard from CEO Taylor, it's the regional FedEx "franchise" operators, not the national co. itself, that has thus far expressed interest. But it would still be big news and big sales if some of these regional FedEx entities bought the UD and UU vehicles from ELMS.
To repeat, it looks like all interested customers are waiting until full certification from the NHTSA and then ELMS can actually start releasing those public-road-worthy vehicles.
Down day for the Nasdaq.... But ELMS' news release this a.m. implicitly suggests that full certification is coming by mid or late Jan. for mgmt to promise that the UD vans will be available for public road use.
What? No Jan. pop up? Looking at a bunch of other smallcap stocks, it appears the Big Money is still in a "risk off" mode, even with the general major indices up. In the EV sector, only big names like TSLA and NIO are moving up significantly. That's a disappointment, but it is what it is.
Hopefully the NHTSA will come through this week or next with the full certification of the ELMS van and then, especially if ELMS announces any improvement on the logistics issue, this should really bounce back.
Ha!-- hilarious....
Ha-- i don't know about that conspiracy theory, but before ELMS / FIII merger closed, i kept to myself another conspiracy theory, namely that shady characters for Ford motor co. tried to manipulate FIII way down so that loads of shares would be redeemed and ELMS wouldn't have enough funding to carry out their business plan, which would steal market share from Ford's Transit van.
I hope it's a leak of news that full NHTSA certif. has arrived!
We'll see....
On 2nd thought, it could just be shorts covering on ELMS (with its relatively small float) and other EV names before the expected Jan. pop. for so many of these beaten-down names.
OK, so that interview is mainly entertaining Q&A about Jim's past, what was his favorite car in his life, etc. There's really only about 8-10 mins. total about ELMS. The one fact i picked up that is interesting is that he and exec team have re-hired about 100 persons who formerly worked at the Hummer plant in Mishawaka, IN, that is now turning out the ELMS vehicles.
Interesting 47-min. interview with CEO James Taylor at this "Cars Yeah" podcast site with a gregarious interviewer.
I've not yet made it more than a few mins. into the interview -- it will likely cover stuff we've already heard but there may be some new stuff in there...
https://carsyeah.com/ourportfolio/1973-jim-taylor/
To give an idea of just how brutally sold off the EV sector is, here's another useful post from our friend Researcher59 over at the Savvy Trades ihub board showing the percentage drop in 2021 from Highs to Lows. Most of the stocks have performed worse than ELMS:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=167291589
Unfortunately, the NHTSA is on its own schedule. ELMS has probably satisfied all requirements and is just waiting for the gov. entity to do its part. So the problem is likely not with ELMS but NHTSA.
Everything seems to be taking longer during this pandemic era.
My (Canadian-born, US-raised) wife needed to renew her green card and it's been an almost 4 month wait since the in-person visit and we were told it would take only 2 months or so to finalize the renewal and issue the new card. When i view online the status of her case, i'm informed that all the requirements are complete from our end. They're probably understaffed due to COVID and people quitting due to vaccine requirements.
This is just a small anecdote but we all know how long govt bureaucracy can take b/c massive amounts are spent each year on defense contractors rather than efficient govt and really useful services. And now COVID is messing with everything.
Good post, MrGreenieSr! I agree with your assessment of the significance of these developments.
Assuming that the supply channel mess & costs can be remedied sometime in 1H 2022, the rest of the year should be fantastic.
Someone over at FinanceYahoo ELMS board said that mgmt had emailed him back that full certif. would happen in Dec. Let's see....
I think we're still in for some further tax loss selling, but not too much more. So much selling has obviously occurred since the stock last hit over $9.
My hope is that the co. will announce full NHTSA certification, maybe another purchase order, and in last trading days of Dec. there will be a FOMO (fear of missing out) buying spree by the markets.
The same will likely be true for many of these EV names that have been terribly hammered down this year. 2022 will be a huge year for EVs.
It's a completely "risk off" market sentiment right now.
We have to wait for that CNN "Fear & Greed" sentiment indicator to turn substantially before Big Money will start buying anything more than the favorite big cap stocks.
https://money.cnn.com/data/fear-and-greed/
That fear&greed indicator has just plunged over the past 10 days more steeply than when Covid first hit the West.
There's a complete "risk off" sentiment in the market, especially since Omicron variant news hit over Thanksgiving. The CNN Fear / Greed sentiment indicator has plunged steeply, just like in late Feb-March 2020.
It will be very difficult for any smallcap and microcap stocks to keep from sliding down in this market til sentiment turns.
Which could be any day, especially if Omicron turns out to be a fast spreader but less deathly / less severe. It would rapidly replace Delta in the world populations and people would be safer. That's best-case scenario.
ELMS - This co. Zeeba surely knows that full certification of the ELMS van is right around the corner (promised by ELMS mgmt in Dec.) with their "firm purchase order ... for 50 ELMS Urban Delivery vans with the intent to purchase hundreds more in 2022."
----------
Zeeba Selects ELMS for Its First Order of Commercial Electric Vehicles
December 01 2021 - 07:00AM
GlobeNewswire Inc.
Electric Last Mile Solutions, Inc. (NASDAQ: ELMS; ELMSW) (“ELMS” or “the Company”), a pioneer of electric and intelligent mobility solutions for commercial vehicle customers, today announced a firm purchase order from Zeeba Vans (“Zeeba”), a Los Angeles-based mobility company, for 50 ELMS Urban Delivery vans with the intent to purchase hundreds more in 2022.
Zeeba, a pioneer in the urban van rental and leasing space, has a fleet that consists of several thousand vans with plans to add 2,500 all-electric vans by the end of 2023. The electrification program accounts for approximately one-third of Zeeba’s two-year growth plan. Zeeba has turned its focus to two areas: commercial business-to-business rentals and leasing and a San Francisco van sharing pilot program. The San Francisco program, set to launch in the first quarter of 2022, is a key vertical through which Zeeba’s customers will utilize the ELMS Urban Delivery.
“ELMS is pleased that Zeeba selected the Urban Delivery to propel its nationwide electrification and growth strategy,” said Ron Feldeisen, Chief Revenue Officer, ELMS. “Commercial van rentals are a growing business vertical in the last mile delivery space and rental customers are vying for all-electric mobility options.”
Zeeba chose the Urban Delivery as the first commercial EV in its fleet due to its connected data capabilities, reliability, ESG benefits and lower total cost of ownership, which all support Zeeba’s aggressive transition to an all-electric fleet. Zeeba plans to leverage the ELMS Air telematics system, which provides fleet management and deep data analytics tools for customers, to run its van-sharing platform which will begin deployment in San Francisco.
“In 2021 we grew our business over 100% compared to 2020,” said Zeeba Chief Revenue Officer Mike Paletz. “Our initial projections for 2022 have us increasing our business three times over 2021 – our best year to date. Our partnership with ELMS will be instrumental in allowing us to achieve these goals.”
Yeah, there's been a number of unknowns and head-scratchers with PIOE / PX, but i'm just so happy (and envious!) that you guys have made such huge gains on this one by staying patiently invested. Sorry to see the recent pullback but obviously there's some Big Money that has liked what it sees with PX and will most probably continue to bid it up over time.
If it's any consolation, in the past few months hundreds of stocks on major exchanges have been making 52-week lows even while the main indices were marking ever higher all-time highs (before the most recent pullback due to Omicron variant).
That means there's a lot of general weakness out there in the trading of most stocks, and i guess that includes PX -- hence its being unable to benefit from the uplist to NYSE.
This co. Zeeba must know that full certification of the ELMS van and ramping up production are right around the corner with their "firm purchase order ... for 50 ELMS Urban Delivery vans with the intent to purchase hundreds more in 2022.
----------
Zeeba Selects ELMS for Its First Order of Commercial Electric Vehicles
December 01 2021 - 07:00AM
GlobeNewswire Inc.
Electric Last Mile Solutions, Inc. (NASDAQ: ELMS; ELMSW) (“ELMS” or “the Company”), a pioneer of electric and intelligent mobility solutions for commercial vehicle customers, today announced a firm purchase order from Zeeba Vans (“Zeeba”), a Los Angeles-based mobility company, for 50 ELMS Urban Delivery vans with the intent to purchase hundreds more in 2022.
Zeeba, a pioneer in the urban van rental and leasing space, has a fleet that consists of several thousand vans with plans to add 2,500 all-electric vans by the end of 2023. The electrification program accounts for approximately one-third of Zeeba’s two-year growth plan. Zeeba has turned its focus to two areas: commercial business-to-business rentals and leasing and a San Francisco van sharing pilot program. The San Francisco program, set to launch in the first quarter of 2022, is a key vertical through which Zeeba’s customers will utilize the ELMS Urban Delivery.
“ELMS is pleased that Zeeba selected the Urban Delivery to propel its nationwide electrification and growth strategy,” said Ron Feldeisen, Chief Revenue Officer, ELMS. “Commercial van rentals are a growing business vertical in the last mile delivery space and rental customers are vying for all-electric mobility options.”
Zeeba chose the Urban Delivery as the first commercial EV in its fleet due to its connected data capabilities, reliability, ESG benefits and lower total cost of ownership, which all support Zeeba’s aggressive transition to an all-electric fleet. Zeeba plans to leverage the ELMS Air telematics system, which provides fleet management and deep data analytics tools for customers, to run its van-sharing platform which will begin deployment in San Francisco.
“In 2021 we grew our business over 100% compared to 2020,” said Zeeba Chief Revenue Officer Mike Paletz. “Our initial projections for 2022 have us increasing our business three times over 2021 – our best year to date. Our partnership with ELMS will be instrumental in allowing us to achieve these goals.”
CORRECTION: Obviously i've been away from this stock too long-- it now trades on the NYSE, not the Nasdaq, as i earlier mis-stated.
Anyway, i'm glad all of you are still in this and seeing terrific gains over the past 3-4 years.
Friends, now that PX trades on the Nasdaq, it will be to some extent subject to the ups and downs of the index, compared to when it sat in relative peace on the OTC and generally showed remarkable independence from the NASDAQ, NYSE, and AMEX (aside from that late 2018 selloff back down to around 70 cents [pre-split price]).
The huge premarket selloff that hit the major indices and stocks is due to the new Covid variant "Omicron," which spooked fears of widespread renewed shutdowns and reduced business activity.
Hey, stranger things have happened. Maybe he will take out ELMS next year for $40/share.
I'd be a very happy camper with cash-in-hand from letting go my 14K shares, even if it means giving up a possible $80-$100 shareprice 2-3 years further down the road.
What's that old adage? Better to have a bird in the hand than 2 over there in the bush....
I agree, which is why i'm poking around again with LMB, considering a medium-term swing-trade. (I played this last Fall for several nice swing trades up from the $9 level.)
Elon would have to pay quite a premium to get this-- mgmt owns too many shares and i've heard that somewhere in the fine print of SEC filings they've put in a "poison pill" to keep ELMS from getting aggressively bought out. If the co. can indeed achieve over 4.00 EPS within 4 years as some analysts have projected (like S. Volkmann at Jefferies), with prospects for higher EPS beyond that, such fast-growth would earn a substantial P/E and ELMS could be an $80-$100 stock by 2025.
This early on (say, early 2022), i think mgmt would not want to part from the co. for any shareprice buyout of less than $40/share. I don't think anyone would want to pay that kind of premium yet.
Musk or any other party interested in buying ELMS surely wants to see numerous vans on the street first, getting good performance ratings, and so on.
ELMS mgmt would likely insist that in any buyout, the workers stay unionized. I'm a big fan of that but Musk et al. may not be.
To give an idea of stock market weakness out there, despite the major indices not much off their recent all-time highs, someone posted this on another board yesterday (Thursday):
On the Nasdaq today, there were 163 new 52-week highs and a whopping 411 new 52-week lows
I'm glad ELMS isn't at a 52-week low, but that statistic shows why it fell from low $9s to low $8s this past week.
Micro, you're not missing anything here. The disparity in valuations is crazy-- and it won't last very long. Assuming they get contracted for lower shipping container costs and have no major continuing problems with supplying parts, they should be able to ramp up significantly by Q2 2022 and that's when all the purchase orders will be firming up and pouring in.
ELMS will really take off then, imo.
But i also expect a nice pop when tax-loss selling stops and the "Jan. effect" occurs.
And any mention of a big whale like Soros or someone taking a position would really zoom the shareprice.
You give absolutely no evidence for your ridiculous statement, so it is worthless.
You wrote, >selling infrastructure plays out of spite and hatred for Biden, whatever the political point being made it’s bad for all investors
I'll go on a mini-rant here in agreement with you. There truly is an irrational and unjust hatred of Biden in this country among factions of deranged folks who've been thoroughly hypnotized and deformed in their values and thinking by "the former guy" (DJT) and his hordes and of course the right-wing propaganda tools at Fox News/Noise, OAN, Newsmax, and any number of right-wing radio hotheads (several of whom died of Covid after spewing anti-vax rhetoric before finally on their deathbeds apologizing to listeners and telling them to get vaccinated).
They really are quite un-American / anti-American.
Here Biden and the Dems only want to
1) heal the nation's badly decrepit infrastructure,
2) bolster a healthy post-Covid economy (GOP "leaders" seem determined to stretch out the pandemic as long as possible with their anti-public-health corruption),
3) mitigate climate catastrophe,
4) try to reverse some of the economically, politically, and psychologically dangerous levels of obscene wealth disparity,
5) and give common folks a chance to still maintain some semblance of "middle class" living (by all objective measures, most Americans have fallen into near poverty, working poverty, or destitution over the past 40 years of failed Reaganomics).
And yet the Republicans have immorally declared an all-out civil war against Dems as "evil socialist scum." Even Social Democrat Bernie Sanders and "the squad" of AOC and her very progressive sisters and brothers in the House of Reps (let alone Joe Biden) have never ever suggested that the State take over and nationalize the Fortune 500 companies. Or anything close to that.
So Republicans have no idea what they're talking about when they spew rhetoric about "socialism." If anything, they should look at themselves and see the many decades of heavily govt-subsidized CORPORATE WELFARE that they've promoted and maintained. Who are the real "socialists" here?
Democrats like Biden are only trying to minimally regulate the bad, polluting, plundering corporations and keep them from mistreating our water, air, soil, and other irreplaceable resources for present and future generations. And pay a living wage to their workers.
And of course the GOP, whose elite members worship not God but rather their supreme idols-- the almighty dollar, corporate profits and political power (through gerrymandering and suppressing voters who disagree with them)-- this unholy, immoral GOP detests any such attempts to regulate corporations or super-rich tax cheats.
No wonder that longtime high-ranking Republicans Steve Schmidt, George Will, and many others have left the GOP, calling it the party of evil.
Rant over. Thanks for listening.
LCID - hedge-fund algos have been running this all day-- now over 233 MILLION shares traded. Doesn't match, though, the nearly 400 million shares traded on Oct 28.
Yes, i was just re-reading that the other day....
Looking forward to when that happens
Thanks for that, JTomm!
There’s an informative, colorful new article, mainly historical, in the widely read Detroit Free Press ( https://www.freep.com/ ) titled “Entrepreneur goes from GM’s C-suite to making a new EV at old Hummer plant.” It’s behind a paywall, but for those who want to subscribe, it can be accessed via the Free Press twitter feed:
Entrepreneur goes from GM's C-suite to a making new EV at old Hummer plant https://t.co/8XTiOfyfH4
— Detroit Free Press (@freep) November 13, 2021
For convenience, i'm posting this excerpt from the recent Q3 10-Q issued this past week. It has some relevant stuff, including about the partnership agreement with distributor Randy Marion:
-------------------
During the nine months ended September 30, 2021, the Company executed a Firm Order Agreement (the “Agreement”) with Randy Marion Isuzu, LLC dba Randy Marion ELMS, a North Carolina limited liability company (“Randy Marion”), for the purchase by Randy Marion of certain electric urban delivery and urban utility vehicles, including a Class 1 electric urban delivery vehicle.
Pursuant to the Agreement, Randy Marion will purchase and ELM will sell to Randy Marion a total of not less than 6,000 of the initial 8,000 Vehicles manufactured and produced by the Company (the “First Order Requirement”).
In connection with the execution of the Agreement, Randy Marion issued a purchase order for 1,000 Vehicles.
Pursuant to the Agreement, Randy Marion is required to issue another purchase order for at least 1,000 Vehicles on or before [Monday] November 15, 2021 and all additional purchase orders required to fulfill the First Order Requirement must be issued by February 28, 2022.
In the event that the Company has outstanding orders, in aggregate, for more than 2,000 Vehicles from other dealers before the completion of its manufacturing and production of its first 8,000 Vehicles, Randy Marion is required to issue purchase orders to fulfill the remainder of the First Order Requirement within three business days of receiving written notice from the Company.
The Agreement expires upon the earlier of: (a) the First Order Requirement being satisfied or (b) December 31, 2022, unless it is terminated early. Upon the expiration or termination of the Agreement, Randy Marion has a right, for a period of one year, to sell back to the Company: (i) any new, unused, and undamaged Vehicles with less than 500 miles, then unsold in Randy Marion’s inventory, (ii) new, unused, and undamaged parts and accessories, contained in the original packaging, and (iii) special service tools recommended by the Company that are designed to service the Vehicles.
We have adjusted our anticipated production volume for 2021 to approximately 300 to 500. Factors contributing to the adjustment include: COVID-19 related impacts such as manufacturing delays, industry-wide supply chain issues and logistics challenges, and the availability of raw materials and cargo containers needed to transport vehicle components. In addition, in the short term, we have adjusted our gross margin projections for the remainder of the year to low single digits in order to account for supply chain issues, logistics challenges, and reduced availability of cargo containers needed to transport vehicle components.
Furthermore, as a result of industry-wide supply chain issues and logistics challenges, we will increase our Manufacturer’s Suggested Retail Price of our Urban Delivery to account for higher costs.
Our core mission is to transform the last mile commercial delivery business by meeting the needs and value considerations of customers who operate in the last mile segment. With the rise of e-commerce, this segment has experienced growing demand for electric vehicles that provide practical and cost-effective solutions to the issues facing the segment which include, but are not limited to, how to optimize delivery, efficiency and cost.
We believe that our in-house engineering expertise in vehicle integration, U.S. safety compliance and homologation, electric powertrain engineering, data connectivity, vehicle customization, and manufacturing will provide us with a differentiated capability to bring reliable and customizable electric vehicles to the U.S. market. We plan to use existing components and platforms from other vehicle manufacturers as the foundation for our vehicle designs for our first products, and source various subsystems and componentry from a variety of suppliers to assemble our own, unique electric vehicles. Our design and engineering team will focus on the design, efficacy and safety of our vehicles and the adaptation of the chosen platforms and components for use in our vehicles. We believe that designing our vehicles around existing vehicle components and platforms will enable us to bring our electric delivery vehicles to the U.S. market on an accelerated timescale compared to manufacturers of competitive vehicles.
Currently, we are focused on bringing to market delivery and utility vehicles. We believe that our current design for the Urban Delivery will appeal to vehicle purchasers and end customers who typically purchase in either or both the Class 1 (vehicles with a maximum gross vehicle weight of 6,000 lbs) and Class 2 (vehicles with a maximum gross weight between 6,001 and 10,000 lbs) commercial vehicle segments.
Similarly, we expect that our second commercial vehicle, the Urban Utility, will appeal to vehicle purchasers and end customers in both the Class 2 and Class 3 (vehicles with a maximum gross vehicle weight between 10,001 and 14,000 lbs) commercial vehicle segments. We are working closely with our suppliers to bring the Urban Utility vehicle to market. We have engaged potential customers who have registered interest to schedule trials or test events.
We also aim to provide digital and customization solutions to our potential customers to maximize fleet efficiency and lower total cost of ownership as compared to our ICE and electric vehicle competitors. We seek to develop a differentiated, customer-specific suite of digital and productivity solutions as well as customized vehicles through the integration of vehicle upfitting during our production process.
When ELMS briefly hit the upper 9.40s this a.m., it finally rose above the 200dma at 9.40. So did the rising upper Bollinger band, which hit 9.44 this a.m. (it's since fallen to 9.36).
That 200dma may continue to be an upper resistance level until we get another catalyst like full NHTSA safety certification (homologation-- i had to look that word up the other day when CEO Taylor used it!), which Taylor promised for sometime in December.
I think any announcement of locked-in contract terms for much lower pricing on shipping containers will also be a big factor to zoom the shareprice.
And the "Jan. effect" itself should provide a big pop on shareprice.
Shortsellers better be considering all these things
A move up to $12 should certainly be possible with any number of catalysts i've previously identified, especially on any partial short-squeeze.
We may still get some tax loss selling into end of year b/c of the heavily sold off EV sector this year, but i expect a big pop for the sector (and ELMS) in the new year.
Yeah, i'd love to see ELMS burst above that 26dma on the WEEKLY chart.
I posted about this today over at Stocktwits in reply to someone....
[Slightly edited:]
Pull up a chart for ELMS at Stockcharts.com or some other site that allows you to choose the Ichimoku Cloud indicator overlay and then select for the WEEKLY chart, not the DAILY chart....
You'll see that the 26dma (which along with the 9dma is one of the two main moving-avgs emphasized by Ichimoku T.A.) began in Oct. to flatline at 9.22.
ELMS has run-up near to that upper resistance level at the 26dma a few times and failed. But with Big Money obviously returning to the EV sector, the stock might be able to surpass that 26dma, which was the clearcut resistance point back in late June when it was at $12, ELMS hit it briefly and then fell back, starting a several month fade that led to that lowest point at $6.43.
Whoever/Whatever is manipulating ELMS' trading behavior is often using these resistance/support levels, and you have to look at Ichimoku Cloud T.A. and weekly charts (not just daily charts) to get a much better sense of what's happening.
ELMSchart
I hope RIVN goes further through the roof, and that then a number of swing traders come over and start using some of their profits to buy under-valued ELMS shares
Btw, beautiful recovery going on with ELMS rebounding up from a higher low tested at 7.50 (perhaps no more checking out the mid-6s).
I just finished reading the CC transcript at SeekingAlpha.
Here's what i just posted to Stocktwits:
On CC, mgmt clarified that the homologated (fully safety certified) vans will be available in Dec., ready for the public roads. And these vans will sell for $34,500 (the unhomologated vans for campuses & airports sell for
$27K).
--And they're working on contract prices 60% of the current $25k spot prices for containers, and with 2 chassis units per container, ELMS can slash $5K off the cost-of-goods for each van.
--There were a lot of other positives in the CC, including how their salivating customers want the Urban Utility truck pulled up even closer on the timeline to production. CEO James Taylor explained how both the production and the safety certification for the truck will be EASIER, FASTER and LESS EXPENSIVE than for the van, so they may indeed be able to start selling it sooner than 2H 2022.
On one of the stock boards someone posted short results for ELMS still holding a little over 2M as of last date-- Oct 29. That could make for some great short-squeeze potential down the road.
ER - The EPS loss at -0.15 was less than expected (I'm seeing -0.26 avg expected EPS posted by Thomson Reuters at Yahoo Finance).
There are lots of great highlights listed in the ER (as we know from all the PRs over the past several months).
Mgmt is only guiding (presumably very conservatively guiding) for producing 300-500 vans up thru Dec. 31, likely due to the logistics problems out of China. We should learn more in the conf. call starting 5 pm ET.
If they actually realize revenues from selling 500 vans, that would bring them up to around $17.25 million in sales (at $34,500 sales price per van), near the mid-level of where analysts expect revenues to be for Q4, but some of that revenue likely won't be realized until Q1.
EVs - crazy big selloff of so many names just because TSLA is down on Musk selling a big chunk of his shares for reasons likely having nothing to do with TSLA earnings....
Tesla tanks on insider selling worries and takes some EV peers along for the ride
01:01 PM | Proterra Inc. (PTRA) | By: SA Editor Clark Schultz, SA News Editor
• Tesla (NASDAQ:TSLA) is sharply lower as the sale of $109M worth of TSLA stock by Kimbal Musk adds to the anxiety over the impact of brother Elon Musk potentially selling 10% of his holdings.
• While it was been speculated for a long time that Elon Musk would need to sell shares at some point to cover tax bills, Michael Burry is also pointing to the personal loans Musk took by using TSLA stock as collateral, although in typical fashion that tweet has now been deleted. Burry also worked in a Dutch tulip bulb reference to describe the current stock market.
• Shares of TSLA are down 10.40% on the day, but are still more than 40% higher from their level six weeks ago and are showing a 65% YTD gain.
• The electric vehicle is having a rough day with the mother ship struggling. Arrival (ARVL -26.6%) is the biggest declines after its earnings report disappointed, while Proterra (PTRA -9.9%), Canoo (GOEV -7.2%), Lucid Group (LCID -6.7%), Lordstown Motors (RIDE -5.1%) and Nikola (NKLA -4.1%) are also lower.
• Chinese EV stocks Nio (NIO -5.6%), Li Auto (LI -4.5%), XPeng (XPEV -4.9%) and Kandi Technologies (KNDI -18.8%) are all down after Tesla saw a sequential monthly decline in China-made local deliveries.