Jinwu Financial News | Auto stocks were under pressure across the board. NIO (09866) fell 10.38%, BAIC (01958) fell 4.82%, Ideal Auto (02015) fell 4.82%, Zero Sports (09863) fell 4.68%, Xiaopeng Motors (02333) fell 4%, Evergrande Motors (00708) fell 3.93%, and Brilliance China (01114) fell 3.67%.
Tesla CEO Musk told employees in an email that in the face of a slowdown in demand for electric vehicles, the global workforce will be cut by more than 10%. Two other senior executives announced their departure, including Drew Baglino, head of battery development, and Rohan Patel, vice president of public policy.
Also, according to incomplete statistics, more than 10 brands launched promotions one after another in April. In addition to price cuts, they are also attracting consumers through various methods such as price increases and reductions, separation of vehicle electricity, and replacement subsidies.