Chinese EV ADRs Gained in Morning Trading, With XPeng and Li Auto Rising Over 6%
Tiger Newspress2022-12-29
Chinese EV ADRs gained in morning trading. Li Auto, XPeng rose over 6%; Nio rose over 4%.
"The market has recently worried about the impact of China's Covid policy adjustment on the demand and supply of NEVs. We believe that the overall impact is limited," CICC analyst Deng Xue's team wrote in a research note.
On the demand side, the Covid infection since December did have some impact on sales of NEVs, mainly in terms of consumer visits to stores, the team said.
In addition, some salespeople have been affected, the team said, adding that these factors can create some disruption in the acquisition of new orders.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
