From Nasdaq, Inc.:

Zacks.com’s Analyst Blog features updates on EV stocks NIO, XPeng, LI Auto, Canoo, and Tesla. The EV Roundup highlights impressive growth in January 2024 deliveries for Chinese-based EV players NIO, XPeng, and LI with LI Auto leading the race with a 105.8% year-over-year increase.

Furthermore, Li Auto aims for 800,000 vehicle deliveries by the end of 2024, plans to introduce several competitive models and expand its sales and servicing network. The company seeks to position itself as the best-selling premium auto brand in China.

Meanwhile, NIO aims to build 1,000 battery swap stations across China in the coming years, aligning with its vision of widespread adoption of battery swapping technology, in addition to forging strategic partnerships and advancing sustainable mobility.

XPeng plans to expand its XNGP coverage to major urban road networks, parking spaces, and private roads nationwide. It also intends to commence research and development on Highway NGP for overseas markets this year.

Canoo Inc. electrified Zeeba’s fleet by adding 3,000 electric vehicles, marking a significant step forward in the electrification of commercial fleets across the United States.

Tesla issued a recall for 2.2 million vehicles in the United States due to concerns regarding the font size of warning lights on the instrument panel. The recall affects various models, including the Model S, Model X, Model 3, Model Y, and 2024 Cybertruck vehicles.

The latest recalls follow a number of Tesla recalls targeting backup camera malfunctions and autopilot system flaws. The NHTSA also disclosed a preliminary evaluation concerning reports of power steering issues in certain Tesla vehicles.

Investors are advised to stay tuned for announcements of upcoming EV models and any important updates from the red-hot industry, while also considering Zacks’ top stock-picking strategies.



Read more: The Zacks Analyst Blog Highlights NIO, XPeng, LI Auto, Canoo and Tesla