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Electric vehicle stocks, which were hit hard this year as investors shifted out of growth industries, are getting a boost as President Joe Biden mounts a major push to accelerate the adoption of battery-powered cars, and Chinese peers report strong March sales.

Lordstown Motors Corp.’s first-ever quarterly report is likely to be overshadowed by broader concerns about customer demand and progress on getting production going at the electric-vehicle startup.

Investors rushed back into Tesla Inc. shares on March 9, putting a screeching halt to a five-day slump, and pushing the stock to its biggest gain in more than a year.

Electric-vehicle maker Workhorse Group Inc. plunged on Feb. 23, triggering multiple trading halts, after a key U.S. Postal Service contract that some had expected it to win went to rival Oshkosh Corp. instead.

Investors are rewarding U.S. automakers as they embrace electric vehicles to boost growth amid a burgeoning demand for environment-friendly cars.

Tesla Inc. was among the biggest drags on the S&P 500 in its first day of trading on the benchmark.

Tesla Inc. is smashing through records as its impending addition to the S&P 500 Index has sparked a buying frenzy among investors, pushing the company’s market valuation over the $500 billion mark for the first time on Nov. 24.

Electric vehicle startups extended their winning streak on Nov. 13, buoyed by strong earnings results from some of their peers and Joe Biden’s projected presidential win.

Both of the major-party presidential candidates have said they support electric vehicles, but a Joe Biden win could bring changes to significantly speed up the adoption of cars and trucks built by the likes of Tesla Inc. and Nikola Corp.

Tesla Inc. shares are now officially in correction territory, in a week that saw the electric-vehicle maker announce a share sale that could dilute its value and a top holder say it would cut its stake nearly in half.