EV shares fell. Rivian down 3%; Tesla, Lucid down over 2%. Automakers in the United States, including Tesla, must build entire vehicles including all their parts in the country instead of manufacturing parts abroad, President Donald Trump said on Friday.

Additionally, Tesla's new car sales in Sweden fell 53.7% in May from a year earlier to 503 vehicles, registration data from Mobility Sweden showed on Monday.

Li Auto stock down 2% while XPeng down 1%; NIO stock down 0.6%.

Nio Inc saw a year-on-year increase in deliveries last month, primarily driven by its sub-brands Onvo and Firefly.

The Chinese electric vehicle (EV) maker delivered 23,231 vehicles in May, up 13.08 percent from 20,544 in the same month last year, but down 2.80 percent from 23,900 in April.

Li Auto saw a sequential rebound in deliveries last month after a decline in April. The company delivered 40,856 vehicles in May, up 16.66 percent from 35,020 in the same period last year and up 20.38 percent from 33,939 in April.

Last month, a local media report said that Li Auto had lowered its 2025 sales target from the previous 700,000 units to 640,000 units.

Xpeng maintained strong delivery momentum last month despite a decline from April. The Chinese electric vehicle (EV) maker delivered 33,525 vehicles in May, marking the seven consecutive month of deliveries exceeding 30,000 units.