Electric vehicle stocks retreated in the week that ended on May 10 amid profit taking, with some earnings reports from the space weighing down on several stocks.

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

In another development, Tesla removed most job postings on its website, with the North American websites listing just three open manufacturing jobs. Gizmodo reported, citing an archived version of Tesla’s career page, that as of May 1, had listed 3,400 jobs openings in the U.S., Mexico and Canada.

Although Tesla nearly disbanded its Supercharger network team, it could expand the network, according to comments from CEO Elon Musk.

“Just to reiterate: Tesla will spend well over $500M expanding our Supercharger network to create thousands of NEW chargers this year,” he said in a post on X.

“That's just on new sites and expansions, not counting operations costs, which are much higher,” he added.

Reports suggested that Tesla sent former China head Tom Zhu back to the country as the company struggles with sagging sales amid competitive pressure. Zhu was promoted to Tesla’s top leadership team last year and was stationed in Austin.

See Also: Best Electric Vehicle Stocks

The stock received a shot in the arm early this week after DigiTimes reported that Apple, Inc. (NASDAQ:AAPL) is “assessing the possibility of teaming up with a certain U.S. EV startup, and Rivian is a very likely candidate.” Both companies, however, did not clarify on the rumor.

Pushback For China EV Makers? The Biden administration is set to act to protect the domestic EV industry from Chinese competition. Wall Street Journal reported that the White House will announce on Tuesday tariffs on Chinese imports in strategic sectors such as EVs.

The report said the U.S. would maintain existing tariffs on many Chinese goods set by former President Donald Trump, while adding new tariffs to semiconductors and solar equipment. The government is also reportedly planning to hike EV tariffs, which are likely to quadruple.

The company will continue to sell internal combustion engine cars beyond 2030 if customers demand them and will focus on selling plug-in hybrids, he said.

The KraneShares Electric Vehicles and Future Mobility Index ETF (NYSE:KARS) ended Friday’s session down 1.87% at $22.14, according to Benzinga Pro data. For the week, the ETF fell 2.55%.

Check out more of Benzinga’s Future Of Mobility coverage by following this link.

Read Next: Tesla Vs. Uber: If You Invested $1,000 Each In These Companies In 2022, Here’s How Much You Would Have Now

EV Stock Performances For Week:

Photo: Shutterstock