XPEV - Why Shares of EV Stocks Nio Li Auto and XPeng Are Driving Higher This Week
2024-05-03 11:23:57 ET
Extending the rises they all enjoyed in the last full week of April, shares of electric vehicle (EV) makers Nio (NYSE: NIO) , XPeng (NYSE: XPEV) , and Li Auto (NASDAQ: LI) have all continued motoring significantly higher this week in contrast to the S&P 500 and Dow Jones Industrial Average , which are both inching toward minor gains.
As of the market's close on Thursday, shares of Nio had risen 24.5% since the end of trading last Friday, while XPeng and Li Auto are up 19.19% and 15.7%, respectively.
For all three companies, increasing customer demand for their EVs powered investors' favorable sentiment this week. Nio reported 15,620 vehicle deliveries for April, representing a 134.6% year-over-year increase.
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Why Shares of EV Stocks Nio, Li Auto, and XPeng Are Driving Higher This Week