Storybook v7, Element type is invalid: expected a string but got: object

Question

Framework: Nextjs 12 Storybook v7

SideNav.tsx is simple function based component. Is there something i am missing?

error

SideNav.stories.tsx

import type { Meta, StoryObj } from '@storybook/react';

import SideNav from './SideNav';

const meta: Meta<typeof SideNav> = { component: SideNav };
export default meta;

type Story = StoryObj<typeof SideNav>;

export const Default: Story = {
  render: () => <SideNav className="sidenav" />,
};