Chinese EV makers NIO Inc. (NIO), Li Auto (LI), and XPeng Motors (XPEV) are seeing a bump higher in their stocks this morning after all three reported strong delivery numbers. The Morning Brief team weighs the impacts US tariffs and competition with Tesla (TSLA) are having on the overseas auto makers. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Luke Carberry Mogan.
Dubbed the Magnificent Seven stocks, Apple, Microsoft, Google parent Alphabet, Amazon, Nvidia, Meta Platforms and Tesla lived up to their name in 2023 with big gains. But the end of the second quarter of 2024 showed a big divergence of returns.
The electric-vehicle maker will post figures this week. Wall Street expects a fall in the number of cars delivered.