From CNBC:

China is now home to some of the top EV stock plays, with Tesla losing market share in Chinese cities. Xpeng, Nio, and BYD all saw fluctuations in market share in January. Li Auto announced its first fully battery-powered car, the Li Mega, boosting its position as a top-tier China OEM. Despite competition, Li Auto’s high gross profit margins and strong earnings have analysts bullish on the stock. Li Auto plans to expand into overseas markets by the end of this year.

Chinese smartphone company Xiaomi is entering the electric vehicle market, targeting its premium user base with a forthcoming car. Chinese President Xi Jinping called for further support for new energy vehicle development, including building charging infrastructure. The U.S. has begun a probe into whether imports of Chinese vehicles pose national security risks. Chinese automakers are expanding into Europe and other markets, with Li Auto set to begin overseas deliveries by the end of this year. Nio recently entered a technology license agreement with Forseven, expanding its presence in Europe.



Read more at CNBC: The best EV plays are now in China. Analysts are raising price targets