TSLA - Momentum revs back up in Chinese electric vehicle sector after strong sales report

The Chinese electric vehicle sector is back in a high gear after hitting some potholes over the last week. Li Auto ([[LI]] +6.4%), Nio ([[NIO]] +2.5%), Kandi Technologies ([[KNDI]] +7.5%), XPeng ([[XPEV]] +2.2%) are all higher in early trading. The investor confidence follows news from early in the day that overall auto sales in China rose 8% Y/Y in November, with wholesale sales of new-energy vehicles soaring 128%. The top two EV sellers during the month were a $4.3K EV called the Hongguang Mini produced in tandem by Wuling and General Motors (GM) and Tesla's ([[TSLA]] -2.2%) Model 3. Tesla and Nio still have the highest momentum grades in the sector, but General Motors is the auto stock with the highest overall Seeking Alpha Quant Rating.

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Momentum revs back up in Chinese electric vehicle sector after strong sales report