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Shares of Chinese electric vehicles outperform Tesla

Byadmin

Jun 27, 2022
Акции китайских электромобилей опережают акции Tesla

ADRs of Nio, XPeng and Li Auto are up over 64% in the last month

Due to Beijing’s consumer stimulus program and a steep drop in investor buying, shares of Chinese electric car manufacturers have outperformed the world leader in their sector, Tesla Inc.

Nio Inc., XPeng Inc., and Li Auto Inc. are American Depository Receipts that have all increased by at least 64% in the past month, making them among the best-performing Chinese equities available on US exchanges.

Investors say more catalysts needed to keep rally going

Given the divergent perspectives on Chinese and US policies and investor worries about how Elon Musk would finance a potential deal with Twitter Inc. that would weigh on the EV giant’s share price, Chinese EV shares handily surpassed Tesla’s 17 percent gain.

Investors are searching for further catalysts that could maintain the momentum, though, after the Chinese EV shares’ rapid surge.

Eason Tsui, an analyst with Sunwah Kingway Capital Holdings Ltd., stated, “Looking ahead, we think the catalysts should come from earnings and improving the economy, as most of the good news for the Chinese auto sector is already priced in.”

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