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-0.000219731927049113 0.000628433311360081 -0.000628433311360237 0.00109865963524494 0.000439463854097913 0.00307624697868602 0.00263678312458795 0.00153812348934301
Stock impact report

NIO And Li Auto Fall As Beijing Tightens Grip On EV Exports [Yahoo! Finance]

XPeng Inc. American depositary shares, each representing two Class A ordinary shares (XPEV) 
Company Research Source: Yahoo! Finance
Starting January 1, China's Ministry of Commerce will require automakers to secure permits before exporting EVs, a measure officials say is intended to ensure the “healthy development” of the EV industry. This aligns the export rules for electric models with existing requirements for conventional cars and motorcycles, according to a Bloomberg report Also Read: Li Auto Rolls Out $35K Electric SUV The move comes as Beijing intensifies oversight of a market roiled by a bruising price war . This year, regulators have clamped down on heavy discounting and instructed carmakers to speed up supplier payments in an effort to stabilize finances across the industry. Despite those pressures, Chinese EV stocks have posted strong gains in 2024: NIO has rallied more than 61%, XPeng Inc. (NYSE: XPEV ) has surged 91%, and Li Auto is up more than 4%. Exports have become a key growth driver for Chinese manufacturers, led by BYD Co. (OTC: BYDDY ), NIO, and XPeng. From January through July, EV Show less Read more
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