EV stocks are soaring with Tesla up 6%, Nio 10% and Rivian 6%

As of 10:08 AM EST, EV stocks are all trading higher on the last day of January. Sector leader Tesla is currently up around 6% near $900 a share while the Chinese EV maker is up 8.00% and Rivian is back to +$60 with the 6.00% increase so far.

This morning, Credit Suisse upgrated Tesla‘s Rating from Neutral to Outperform while maintaining the $1,025 Price Target. After the 11.00% sell off regarding Tesla Earnings Call with no noticeable news from the first Cybertruck deliveries or the $25k Model, the stock was trading 30% below all-time-highs setting now for a recovery.


Nio announced yesterday that the production and manufacturing of ET5 Model is “in full swing” in the Hefei Factory. The first units of the model unveiled during the last NIO Day, held last December, are expected to be delivered in September 2022. Recently, CEO William Li revealed that the Nio ET5 would also arrive in Norway and some other overseas markets from spring 2023.

Last week, Rivian said it expects to soon be delivering as many as 200 electric R1T pickup trucks per week – quadrupling its production rate from where it was some weeks ago, and putting it on track to surpass 10,000 pickups manufactured this year.

The Chinese EVs Xpeng, and Li Auto are also up around +6.00% and the U.S. automaker Lucid Motors is up 3.50% after the sharply decline during the last 8 weeks — when Rivian reached an All-time-high of $179.