As the week comes to a close, the markets are showing signs of positivity, with both the S&P 500 and Dow Jones Industrial Average edging up following a turbulent trading day yesterday.
Today, there is a surge in several electric vehicle (EV) stocks, as investors anticipate Chinese EV manufacturers entering the market with more affordable models.
Investors are showing strong interest in Nio (NYSE: NIO), Li Auto (NASDAQ: LI), and XPeng (NYSE: XPEV). By midday on Friday, Nio’s shares were up by 8.8%, while Li Auto and XPeng saw increases of 6.6% and 10.5%, respectively.
Steering towards a new horizon
In discussions with CNBC, executives from Nio and XPeng expressed their commitment to introducing more reasonably priced vehicles by 2024. Nio’s CEO, William Li, mentioned that the company plans to offer an SUV that is more affordable than Tesla’s Model Y.
XPeng is set to unveil its budget-friendly Mona in the near future…
2024-04-26 13:03:43
Originally published on finance.yahoo.com