XPEV - Why Are Chinese EV Stocks XPeng NIO Li Auto Trading Lower Wednesday? | Benzinga
Chinese electric vehicle company stocks, including XPeng Inc (NYSE: XPEV), NIO Inc (NYSE: NIO), and Li Auto Inc (NASDAQ: LI), are trading lower Wednesday after Brussels shared plans to launch an anti-subsidy investigation into Chinese EVs that are "distorting" the EU market.
European Commission President Ursula von der Leyen announced during her annual address to EU lawmakers, expressing concern over the influx of cheaper Chinese EVs into global markets, Financial Times reports.
The investigation comes after months of planning and reflects the EU's concerns about China's practices in the EV trade.
European firms have often faced exclusion from foreign markets and unfair competition due to substantial state subsidies given to competitors. ...