Results for: Chinese EV

Chinese electric vehicle (EV) startups Nio, Li Auto, and XPeng reported their October delivery figures, with Li Auto leading the pack with a significant sales increase. The company’s strong performance was driven by robust sales across its model lineup and a milestone achievement of surpassing 1 million cumulative deliveries. XPeng also saw a rise in deliveries, exceeding 10,000 units of its new hatchback coupe, while Nio’s sales were boosted by its new ONVO brand.

NIO Inc. (NIO) shares are down 7% today after peer Chinese EV maker Li Auto reported a second-quarter revenue miss and issued weak guidance. Investors are concerned that Li Auto’s struggles could be indicative of wider challenges within the Chinese EV market, potentially impacting NIO’s future performance. Economic factors and regulatory pressures in China also contribute to the bearish sentiment.