Share prices of Electric Vehicle (EV) players like Tesla, Nio and XPeng have crashed from their stratospheric highs in February. This was amid a market sell-off of high-growth stocks as US Treasury yields rose and semiconductor chips remained in short supply. Nio has temporarily suspended vehicle production for five days due to a lack of chips. Other players are likely to be in the same shoes.

Shortage or no shortage, Nio still managed to deliver 20,060 vehicles in the quarter ending March. This was up a whopping 423% y-o-y. Tesla also shipped 184,800 vehicles in the quarter, up 209% y-o-y. These delivery figures are simply out of whack with the drop in their share prices. So, is it time to enter EV stocks?

Tesla, Nio, and XPeng volumeBefore you dash to call your broker, first understand current EV adoption rates, their potential future growth rates and the direction of government policies.

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