The Financial Post reports in its Thursday edition that a torrent of bad news for the electric-vehicle sector confirms how far it has fallen in just a few years. A Bloomberg dispatch to the Post says it is a sharp turnaround from the heady days of the pandemic when investors were clamouring for exposure to the growing sector. Up-and-coming firms such as Rivian Automotive and Vietnam's Vinfast Auto once surpassed more established rivals such as General Motors by valuation. Now, analysts are slashing their earnings forecasts for the EV sector as sales growth slows. EV shares have now tumbled from their peaks, with Rivian, Lucid Group and Xpeng losing more than 80 per cent. Renault's proposed EV spinoff, Ampere, was expected to be one of the biggest this year in Europe, with the carmaker seeking a valuation of as much as 10 billion euros for the business -- almost on par with Renault's market value. Shares of Tesla still trade at 58 times forward earnings, almost three times the S&P 500 index, despite a slump earlier this month after the world's largest EV maker by market value warned about slowing demand. The company has been slashing prices of its cars and last week warned of "notably lower" growth this year.