EV Slowdown Turns the Table for Leaders and Laggards
Volvo and GM are rewarded for cutting their losses, while Tesla and BYD’s valuations have come under pressure.
A BYD Seal electric sedan at a showroom in Hong Kong.
Photographer: Lam Yik/BloombergThanks for reading Hyperdrive, Bloomberg’s newsletter on the future of the auto world.
A clear pattern has emerged a couple weeks into this quarterly earnings season: Electric-vehicle leaders are taking it on the chin, while those lagging behind are rewarded for cutting their losses.