US electric vehicle maker $Tesla (TSLA.US)$ would lay off 10...

US electric vehicle maker $Tesla(TSLA.US)$ would lay off 10% of its global workforce, and the market is concerned about competition in the auto market. Car stocks $LI AUTO-W(02015.HK)$ , $GWMOTOR(02333.HK)$ , $LEAPMOTOR(09863.HK)$ and $XPENG-W(09868.HK)$ retreated 4.7% to 5.6%, while $BYD COMPANY(01211.HK)$ dropped 1.4%. $NIO-SW(09866.HK)$ cratered 10.2%.