Have the EV stocks bottomed?

After a year of brutal price wars first ignited by $Tesla Motors(TSLA)$   that have witnessed many casualties and burning its own pockets over narrowing profit margins, the EV industry leader is finally ceasing fire and raising prices across all its major markets to rebuild its margins. In fact, this is not surprising to me as Elon Musk has previously warned that Tesla was reaching "the natural limit of cost down" with its existing lineup, so that it would be challenging to trim prices further to boost demands for its EVs without detrimental impacts to its financials.

The ceasefire will be good news for the EV market that has been battered by the price wars as the EV players attempted to undercut one another's selling price in order to snatch or defend their market shares, leading to only lose-lose for everyone. I hope that this will be the start of a reversal of fortune for the EV makers and help them to weather the softening EV market demands by improving their margins.

Hopefully, this will help to improve the profitability for Tesla and the Chinese EV makers especially the Chinese EV startup trio $NIO-SW(09866)$  , $XPENG-W(09868)$  , $LI AUTO-W(02015)$  as well as the latest entrant $XIAOMI-W(01810)$  , as they return to focus on developing better and safer EVs, enriching their functions and features and broadening the charging infrastructure, so as to expand the EV market size by attracting more drivers to switch over from conventional ICE vehicles. I'm particularly optimistic over Xiaomi which may be new to the EV market, but has already over 100,000 orders for its newly launched EV model SU7, and has started delivering the first batch of orders.

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