Both American and Chinese EVs are soaring today after tough weeks or even months for some of them. Chinese Evs are trading higher after the Chinese government vowed to focus on consumption recovery and reduce some income tax rates.
Shares of several Chinese stocks have otherwise been under pressure amid two factors: Covid-19 Omicron Variant concerns (travel restrictions across the world and lockdown fears) and due to further regulatory concerns in China.
The Chinese NIO started this morning the hiring process for Sweden, one of the first five European Countries the Company will enter during 2022.
Lucid Motors has seen its Buy Rating resumed today buy CitiGroup with a $57 Price Target regarding its “Potential catalysts in the next 12 months could arise from updates in the Air launch timing and manufacturing ramp, brand awareness/development, ADAS/AV technology development, and the company’s financial performance compared to prior projections.” – Citi Analyst said.
As the time we’re writing, NIO is leading the run with a +12.74% increase up to $31.85 after closing yesterday at $28.65; followed by XPENG that is gaining +9.77% up to $48.82 and LI, up +7.95% ($31.76). Americans LUCID is up +6.21%, FISKER +4.85% and RIVIAN +5.38%. TESLA is currently flat after recovering from an intraday dip regarding this morning news related with the recall of almost 500.000 vehicles.