From IBD: 2024-06-28 08:00:00

China’s EV makers, including Tesla rival Nio, are set to see sales double in June thanks to government subsidies. BYD-led price wars in early 2024 hurt EV startups, but BYD’s Q2 sales are expected to exceed 1 million units. Shares of BYD and Nio have dipped, while Tesla’s No. 1 rival recovered moving averages.

Li Auto projects an increase in Q2 deliveries, particularly of the L6 SUV model. Li Auto stock slid below the 50-day line but expects delivery numbers to align with guidance. Meanwhile, Nio’s sales are on track to triple, while XPeng and new IPO Zeekr have also seen increases in Q2 sales.



Read more at IBD: EV Stocks: Tesla’s China Rivals Eye Sales Recovery With Cheaper New Models Due