Chinese EV Stocks Nio, XPeng and Li Auto Make Sympathy Move Lower

Shares of U.S.-listed Chinese EV startups Nio Inc - ADR NIO, XPeng Inc - ADR XPEV and Li Auto Inc LI are trading lower Monday.

Tesla, Inc. TSLA, which competes with the EV trio in the Chinese market, reported stellar quarterly deliveries and production that did not reflect much impact from the semiconductor and component shortages.

Reacting to the September quarter deliveries released over the weekend, Tesla shares are higher.

"Taking a step back, with the chip shortage a major overhang on the auto space and logistical issues globally, these delivery numbers were 'eye-popping' and speak to an EV demand trajectory that looks quite robust for Tesla heading into 4Q and 2022," Wedbush analyst Daniel Ives wrote in a note.

Related Link: What This Analyst Likes About Q3 Deliveries Updates From XPeng and Nio

Tesla's numbers also removed an overhang regarding uncertain demand outlook for the company in China, its key market.

Incidentally, the Chinese EV trio also reported Friday strong deliveries for the September quarter, clocking in record monthly and quarterly numbers.

Notwithstanding the solid showing, Nio and XPeng shares closed Friday's session down 0.70% and 0.23%, respectively, while Li Auto shares ended unchanged.

Ahead of the deliveries report, Nio and Li Auto had trimmed their deliveries forecasts, citing supply chain pressures.

At last check Monday morning, Tesla shares were rallying 2% to $790.71.
Nio was shedding 4.54% to $33.76.
XPeng shares were losing 3.93% to $33.95.
Li Auto shares were receding 2.28% to $25.69.

Related Link: EV Week In Review: Tesla Pushes Out FSD Broader Beta Rollout, Chinese Trio Delivers, Ford Doubles Down On EV Investment, Lordstown's Prudent Strategy

(Photos courtesy of Tesla Inc, XPeng, Nio and Li Auto)