Electric vehicle stocks ended mostly lower for the holiday-shortened week ended April 6, with a broader market weakness triggered by recession fears.

Here are the main events that took place in the EV space during the week:

Tesla Retirement, Price Cuts, Proxy Filing and More: Tesla, Inc. TSLA Shares fell over 10% this week after The Street expressed concern over the company’s first-quarter shipment figures, which came in just above the consensus estimate. Investors apparently weren’t very optimistic that the company would hit a 2 million unit rate in 2023. Margin concerns also appeared to have returned ahead of the company’s first-quarter results, due on April 19.

Worries could be compounded as Tesla announced another round of price cuts this week, cutting two versions of the Model 3 by $1,000 and slashing prices of other vehicles by 3.5% to 5.6%. Tesla’s website has listed a new version of the Model Y for under $50,000 that appears to use the 4680 battery.

In other key developments, a proxy statement filed by Tesla late Thursday showed that Tom Zhu was officially appointed head of the company’s global automotive operations. The 43-year-old manager’s new role replaces his title as senior vice president of automotive operations, the filing revealed. The company also nominated Tesla co-founder and former CEO JB Straubel to the board.

The proxy statement also showed this the company has changed its pledging policy, Introduce a dollar value for the maximum loan or investment that can be secured by the pledging CEO Elon Musk’s Tesla shares. The cap is set at $3.5 billion or 25% of the total value of the pledged shares, whichever is less. The company has scheduled an annual stockholders meeting in Giga Texas for May 16th.

The week also saw board member and Musk’s brother Kimbal Musk Sale of approximately $20 million worth of Tesla stock after exercising a stock option award.

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