From Nasdaq: 2024-04-26 14:03:43

Markets are set to end the week positively, with the S&P 500 and Dow Jones rising. Electric vehicle (EV) stocks like Nio, Li Auto, and XPeng are surging today, possibly due to plans for more affordable models by Chinese EV manufacturers.

Nio and XPeng executives expressed commitment to offer more moderately priced vehicles by 2024, with Nio planning an SUV cheaper than Tesla’s Model Y. XPeng anticipates launching the Mona soon, leveraging existing smart technologies and infrastructure.

Investors seem optimistic about Li Auto’s potential growth, aligning with Nio and XPeng’s plans for more affordable models. However, caution is advised, as both Nio and XPeng have seen revenue growth but also significant net losses recently.

Nio may not be the best investment choice currently, as per The Motley Fool Stock Advisor analyst team’s recommendations. They highlight 10 other stocks with potential for significant returns, offering guidance on portfolio building and new stock picks monthly.

Scott Levine has no position in the mentioned stocks. The Motley Fool recommends Nio and Tesla. Please be aware that the author’s views do not necessarily reflect those of Nasdaq, Inc.



Read more at Nasdaq: Why Shares of EV Stocks Nio, Li Auto, and XPeng Are Racing Higher Today