Chinese EV Stocks NIO, LI, XPEV Heat Up on July Deliveries
Chinese EV stocks are on the rise this morning. Nio (NYSE: NIO ), Xpeng (NYSE: XPEV ) and Li Auto (NASDAQ: LI ) all rose in pre-market trading as they reported their electric car deliveries for July. XPeng, built by entrepreneur He Xiaopeng and backed by Alibaba (NASDAQ: BABA ), had the best month, delivering 11,524 vehicles . Li delivered 10,422 and Nio 10,052 . While the numbers were all up from a year ago, they were notably down from June. Still, XPEV stock was up 2.54%, LI and Nio up almost 3%, in pre-market trading. While there remains the threat of de-listing for all Chinese stocks, including Alibaba , investors seem willing to take the risk with electric cars. New European Exports Nio began building a European presence last year through Norway, where about one-third of all new cars are now electric. It is expanding into four more markets this year, including Germany, and hopes to be in 25 countries by 2025. It calls its stores “Nio Houses” where drivers can swap out batteries in under an hour .
Chinese EV Stocks NIO, LI, XPEV Heat Up on July Deliveries
Chinese EV stocks are on the rise this morning. Nio (NYSE: NIO ), Xpeng (NYSE: XPEV ) and Li Auto (NASDAQ: LI ) all rose in pre-market trading as they reported their electric car deliveries for July. XPeng, built by entrepreneur He Xiaopeng and backed by Alibaba (NASDAQ: BABA ), had the best month, delivering 11,524 vehicles . Li delivered 10,422 and Nio 10,052 . While the numbers were all up from a year ago, they were notably down from June. Still, XPEV stock was up 2.54%, LI and Nio up almost 3%, in pre-market trading. While there remains the threat of de-listing for all Chinese stocks, including Alibaba , investors seem willing to take the risk with electric cars. New European Exports Nio began building a European presence last year through Norway, where about one-third of all new cars are now electric. It is expanding into four more markets this year, including Germany, and hopes to be in 25 countries by 2025. It calls its stores “Nio Houses” where drivers can swap out batteries in under an hour .