Several Chinese firms’ stocks are trading lower, including Nio Inc – ADR (NYSE: NIO), Xpeng Inc – ADR (NYSE: XPEV), Li Auto Inc (NASDAQ: LI), and Pinduoduo Inc – ADR (NASDAQ: PDD). Tuesday morning brought regulatory concerns as Chinese officials proposed that DiDi, a vehicle-for-hire startup, postpone its IPO in the United States and stated they will tighten oversight on Chinese companies listed abroad.
Nio is a luxury electric vehicle manufacturer in China. The firm develops, co-develops, and distributes smart and connected luxury electric vehicles, advancing next-generation technologies such as connectivity, autonomous driving, and artificial intelligence.
Nio is currently selling at $49.05. It is down 2.7 percent.
Li Auto was the first company in China to successfully commercialize long-range electric automobiles. In November 2019, it began mass manufacturing of its first model, the Li ONE.
Li Auto is currently selling at $31.65, down 3.1 percent.
XPeng is a smart EV startup based in China that designs, develops, manufactures, and markets smart electric vehicles.
XPeng is currently trading at $41.96, down 4%.
Pinduoduo is a platform that connects shoppers with high-quality items as well as engaging and interactive buying experiences. Pinduoduo provides a social shopping experience that makes use of social media as a powerful tool for attracting and retaining customers.
Pinduoduo is currently trading at $115.49, down 3.1 percent.
Nio provided the photo.
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