BYDDY - Chinese EV Names Jump In Hong Kong As Tesla Scraps Discount For Chinese Model Y | Benzinga
Chinese EV makers leaped on news that Tesla was scrapping a Model Y discount Friday as investors hoped that the move signaled the beginning of a détente to the country’s EV price war.
Xpeng was up 4%, Li Auto was trading 3% higher and Nio rose 2% by lunch time in Hong Kong trading. BYD was up just over 1%.
The South China Morning Post reported Friday morning that Tesla Inc (NASDAQ: TSLA) has rescinded a discount on the performance edition of its Model Y in China just 10 weeks after it was offered.
The performance-edition Model Y, made in Shanghai, was priced at 363,900 RMB ($49,735) Friday morning in ...