In recent weeks, with Tesla, Inc.The company's astonishing rally turned in the opposite direction, and Chinese electric car pioneers, who had skyrocketed on the rumble Musk's east wind, also lost about $10 billion in wealth.

XPeng Inc., which is listed in the United States, has tumbled 33% from its recent high, while Li Xiang's idealCars are down 27% from their peak in early January. NIO Inc.Cars fell by 22% from peak to trough. As speculative money poured into the electric car sector, XPeng Inc. 's shares more than tripled from IPO prices last year, Li Auto Inc. more than tripled, and Tesla, Inc. led the way with a 743 per cent rise.

"Electric vehicle stocks absorb large increases over a long time frame, which makes them particularly vulnerable to mood changes," said Robert Cowell, an equity research analyst at 86Research in Shanghai. "Competition may also be part of it. In the long run, there will be only a few market leaders. "

The total wealth of the founders of the three companies-he Xiaopeng, Li Xiang and Li Bin-has fallen by about $10 billion from a January high, according to the Bloomberg Billionaires Index.