Here are the key events that happened in the EV space during the week:

Sen. Elizabeth Warren (D-Mass.) this week renewed her call to the SEC to investigate Musk and the company's board of directors, citing, “possible misappropriation of Tesla resources and conflicts of interest arising from Mr. Musk's dual role at Tesla and X,” formerly Twitter. The allegations assume importance as a Delaware court earlier this year nullified Musk’s $55.8 billion compensation plan from 2018.

Tesla was slammed by fund managers for luring buyers by the threat of a price hike once the quarter ends. Ross Gerber of Gerber Kawasaki Wealth and Investment Management said it was an “old trick,” while Deepwater Asset Management’s Gene Munster said “it’s hard to read between the lines what a $1k end-of-month discount followed by a $1k price increase means for demand and margins.”

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Ford’s President of the International Markets Group, Kay Hart, reportedly visited the country to assess the next steps regarding restarting of operations at its facility in Southern India. Blue Oval is contemplating making EVs at Chennai, the capital city of the southernmost state of Tamil Nadu, meant for the Indian and overseas markets, with the EVs likely based on its new affordable platform, the report said.

Fisker’s Lifeline, Production Pause: Even as Fisker, Inc. (NYSE:FSR) is negotiating with a large automaker to avoid a potential bankruptcy filing amid a cash crunch, the company announced this week a financing commitment from an existing investor providing up to $150 million of gross proceeds.

The financing is contingent on certain conditions, including the filing of the Form 10-K. The company also said it will pause production for six weeks starting the week of March 18, to align inventory levels and advance strategic and financing plans.

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The company said it now sources more than 90% of its parts from the U.S. and allied nations. Approximately 70% of parts come from North America, and the remaining from the rest of the world. 

For international sales, the FTZ will significantly enhance profitability by lowering the vehicle cost by up to 5% on parts imported from the rest of the world. “This cost reduction will occur when these Made-in-America vehicles are exported to international markets, which we plan to announce in the near future,” the company said.

The KraneShares Electric Vehicles and Future Mobility Index ETF (NYSE:KARS) ended Friday’s session down 2.01% at $22.44, according to Benzinga Pro data. For the week, the ETF fell 0.36%.

Read Next: Forget California, Tesla Goes National: Electric Domination Spreads Across 7 States In One Year

EV Stock Performances For Week:

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Image created using artificial intelligence with Midjourney.