KNDI - Selling pressure hits Chinese EV sector after Apple iCar development

Chinese automakers Nio ([[NIO]] -3.7%), Li Auto ([[LI]] -5.0%), XPeng ([[XPEV]] -5.1%) and Kandi Technologies ([[KNDI]] -6.4%) are all notably lower on the day.The selling pressure is being attributed to more than just the Reuters report on Apple moving ahead with plans for a self-driving car, with some traders saying an EV risk-off trade is setting up into the new year. Of course, today's declines are just barely denting the formidable YTD gains. Nio is the largest of the four Chinese EV name by revenue, while Xpeng holds the most cash per share.

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Selling pressure hits Chinese EV sector after Apple iCar development