Why EV Stocks slipped on Tuesday
Tiger Newspress2021-03-23
EV Stocks are slipping in Tuesday morning trading.The shares of Li Auto fell more than 3%,Xpeng Motors and NIO stock are down more than 1%.
On Tuesday, China's Ministry of industry and information technology released two catalogues of new energy vehicles that previously enjoyed preferential tax treatment, among which Li Auto, Nio,Xpeng and BYD all had models on the list.
In this regard, Li Auto said that the model ideal one was no longer on sale, so it was automatically withdrawn by the Ministry of industry and information technology one year after the declaration.
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