EV stocks brace for post-tax credit year as tariff pressures persist

Electric vehicle companies navigated elevated manufacturing costs due to the Trump administration's tariff policies, and the lapse of federal tax credits for battery vehicles

Shares of Rivian Automotive RIVN.O were up over 47% this year after falling 43% in 2024; co announced plans to develop its own custom chip for self-driving features and AI integration

It expects lower tariff costs from some government incentives, but braces for an uncertain road ahead due to the expiry of the $7,500 tax credit on vehicle leasing

Luxury EV maker Lucid's LCID.O stock slumped 63% YTD, marking a fourth-straight year of annual decline

Co has grappled with a surge in manufacturing costs, and aggressively struck deals with North American companies to domestically source critical minerals

U.S.-listed shares of Chinese EV firms Xpeng 9868.HK rise 80%, Nio 9866.HK up 26%, and Li Auto 2015.HK down 28% YTD