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Electric vehicle stocks mostly advanced in the week ending Dec. 2, helped by market-wide optimism over a potential Fed pivot and some company-specific catalysts. The Chinese EV trio of Nio, Inc. (NYSE:NIO), XPeng, Inc. (NYSE:XPEV) and Li Auto, Inc. (NASDAQ:LI) were among the best performers of the week amid bargain hunting set in motion by their November deliveries data.

Now, here are the key events that happened in the EV space during the week:

Tesla Price Cut, Semi Launch And More: Close on the heels of a price cut and insurance incentive increase in China, Tesla, Inc. (NASDAQ:TSLA) offered a $3,750 credit for U.S. buyers of its Model Y and Model 3 vehicles available in inventory. The reduced prices stirred concerns regarding a demand slowdown amid the uncertain economic environment.

The EV pioneer began shipments of its Tesla Semi this week, about five years after it was first announced. The first deliveries were handed to beverage giant PepsiCo. (NYSE:PEP). Tesla bull and Future Fund’s Gary Black said the Semi is likely to be Tesla’s most important hardware product to date. “People are sleeping on this product,” he added. During the launch event, the company said the Cybertruck will use the same charger as the new megawatt V4 charger the company has developed for the Semi.

Separately, a report said Tesla’s production of Model Y SUVs at its Giga Austin plant is ramping up nicely, with the factory priming to produce 75,000 units in the first quarter. This would render the weekly production rate at 5,000 units.

See also: $1,000 Invested In Tesla Now Would Be Worth This Much By Year-End If Return Is In Line With Historical Norms

Ford November Numbers: Ford Motor Company (NYSE:F) reported this week its November sales tally, which underlined the progress it has made in the EV transition. The company said its U.S. EV sales expanded at twice the rate of the overall industry in November, thanks to a 103% month-over-month increase.

“Ford America’s second best-selling brand and manufacturer of electric vehicles behind Tesla,” the company said in a statement. F-150 Lightning EV truck sales came in at 2,062, Ford E-Transit sales were at 654 and Mustang Mach-E sales rose 14.6% year-over-year to over 3,539 units.

Separately, the company announced it has accomplished the feat of rolling out its 150-thousandth Mach-E, about two years after it went on sale.

Nio, Li, BYD Sparkle: The November deliveries scorecard released this week showed that Nio, Li Auto and Warren Buffett-backed BYD Company Limited (OTC:BYDDY) (OTC:BYDDF) managed to weather COVID-19 disruptions. The companies reported year-over-year as well as sequential improvement in deliveries. On a more promising note, Nio said it expects delivery momentum to accelerate further in December.

XPeng’s sales fell sharply from a year ago, with the company blaming the predicament on the COVID-19 situation.

Hyundai Teases IONIQ 5 N EV: On Friday, Hyundai Motor Company (OTC:HYMTF) released a video providing a sneak peek of the Performance variant of its IONIQ 5 N EV, wrapped in an N-specific camouflage membrane. The video also showcased its testing platforms, the RN22e and N Vision 74 as well as some upcoming technologies that are facilitating its electrified future.

Lordstown Gets Clearance For Endurance EV Pickup Truck Delivery: Lordstown Motors Corp. (NASDAQ:RIDE) said its Endurance pickup truck has achieved full homologation certification from the EPA and CARB – a key condition to start customer sales. The company noted that the initial batch of 500 EV pickup trucks is leaving Hon Hai Manufacturing Company Limited’s (OTC:HNHPF) Ohio plant for customer delivery.

Fisker Hit By Short Report: Fisker, Inc. (NYSE:FSR) shares came under pressure after short-seller Fuzzy Panda Research said all the company's $825 million in cash is tied up in guarantees to its manufacturing partner Magna International, Inc. (NYSE:MGA). The EV maker’s access to funds is limited by bank guarantees that set a minimum cash balance, it added.

Canoo Gets Moving: Canoo Inc. (NASDAQ:GOEV) said it delivered its first new “light tactical vehicle” to the U.S. Army for analysis and demonstration in fulfillment of the contract that was awarded in July 2022.

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EV Stock Performances for The Week: