TECH - EV Deliveries Continue To Fall In China As The Competitive Battle Rages On | Benzinga
On Monday afternoon, the China Passenger Car Association released February delivery figures. Upon the release of the data, shares of Nio Inc (NYSE: NIO) and XPeng Inc (NYSE: XPEV) were down about 8.3%. Li Auto Inc (NASDAQ: LI) tumbled nearly 14%. Even the EV king, Tesla Inc (NASDAQ: TSLA) suffered a share drop of 7%. So did BYD Company Limited (OTC: BYDDY), which dethroned Tesla in the fourth quarter of 2023 as the top EV maker, as its shares were off about 1% upon the news of February shipments. On Tuesday, Nio released its fourth quarter results that showed its losses widened as the EV battle in China continues to intensify.
EV Deliveries In China Continue To Fall
According to data from the China Passenger Car Association via Bloomberg, Tesla shipped 60,365 vehicles from its Giga Shanghai ...