What Is Going On With Chinese EV Stocks Nio, Li Auto, Xpeng On Tuesday?

Electric vehicle makers in mainland China sold 1.26 million units in July, including passenger cars and commercial vehicles. This marked a 5% drop from June and the first month-on-month decline since May, according to the China Association of Automobile Manufacturers (CAAM). Despite the slowdown, sales still rose 27.4% year over year. NIO is feeling the pressure from bearish momentum. Follow the news here. The drop followed Beijing's push for automakers to scale back discounts and focus on profitability, SC ...