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Chinese EV stocks jump on boosts from China’s reopening

Yahoo Finance Live dissects trends in Chinese EV stocks Nio, Li Auto, and Xpeng correlated to the country's recent reopening from zero-COVID policies.

Video transcript

[AUDIO LOGO]

PRAS SUBRAMANIAN: I'm watching Chinese auto stocks, your NIO, Li Auto, XPeng. Big moves today. They're all trending on yahoofinance.com. Not much in terms of news, but we're seeing that continued optimism as China reopens. Automakers cutting prices there. Renewed investor interest in growth names. And of course, Tesla earnings coming out in a couple of days. Maybe there's some enthusiasm there. Also in the world of EVs, Citi resumed coverage of Lucid, the luxury EV maker with a buy rating as well. So, you know, we're seeing that, kind of like, piled back into those momentum EV car stocks.

DAVE BRIGGS: Anecdotally, man, I am seeing more Rivians every day. Now, granted, this is in Connecticut, a very strange bubble of a market. But they're so recognizable from the front that you know when you see one. I'm curious, some reporting about how much the Tesla price cuts will impact others in, let's say, GM, let's say, Ford. Will they begin to cut their prices that same-- somewhere in that 10% vicinity? Or do you think they'll hold firm?

PRAS SUBRAMANIAN: The problem is that-- I think they have to. But the problem is that their margins are way thinner than Tesla's right now. So they'll be selling these cars at an even bigger loss. So they've got to really be careful about that, distinguish themselves from Tesla if they want to keep up. But you're absolutely right, those price cuts are huge for the market.