BUZZ-EV stocks fall after Tesla cuts prices

Reuters04-22

** Shares of EV stocks fall in premarket trade after Tesla

cuts prices for its EVs in major global markets including United States

** TSLA down 1.4% at $133.65 premarket

** Following suit, Chinese automaker Li Auto

cuts prices by around 5% on four of its five models; says it will refund owners who bought those models earlier

** U.S.-listed shares of Li Auto down 7.2%, Nio

down 1.3%, Xpeng down 4.3%

** Faraday Future down 1.9% at about 5 cents

** TSLA has been in a price war with peers as co grapples with falling sales

** TSLA's stock lost 41% in market value in 2024

(Reporting by Pranav Kashyap in Bengaluru)

((Pranav.Kashyap@thomsonreuters.com;))

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