Why Nio and Chinese EV Stocks Had an Awful January

Electric vehicle (EV) stocks have been under pressure for several months, and the start of the year just continued that trend. That was especially true for Chinese EV names Nio (NIO -2.98%), XPeng (XPEV -3.31%), and Li Auto (LI -2.78%). Over the past six months, those stocks are all down by between 39% and 64%.Returns in January contributed heavily to those declines. For the month Nio shares lost 38%, XPeng plunged 42.9%, and Li Auto lost 26%. according to data provided by S&P Global Market Intelligence.Rec ...