Production headwinds and cost pressure stemming from chip shortages, supply volatility, and COVID-led lockdowns in China took a toll on EV (Electric Vehicle) manufacturers. Given the challenges, shares of top EV makers dropped significantly.  For instance, shares of the industry leader Tesla (NASDAQ: TSLA) fell more than 38% this year. Moreover, it has dropped about 48% from its 52-week high.  Now What? Amid heightened cost pressure, Tesla raised the prices of its vehicles multiple times this year. Moreover, its CEO, Elon Musk, recently warned that supply headwinds and production challenges in China would impact its Q2 performance, Bloomberg reported.
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