Chinese electric vehicle (EV) stocks have rebounded on new economic stimulus. Discover key reasons to watch the EV industry and learn ways to gain exposure to this growing market
This post was created in partnership with Nikko Asset Management Asia Limited. All views and opinions expressed in this article are Beansprout's objective and professional opinions.
What happened?
Chinese electric vehicle (EV) stocks have seen a rebound recently, driven by new stimulus measures aimed at boosting the economy.
During the week-long National Day holiday, EV sales in China surged, with the marketing director for General Motors’ joint venture with SAIC Motor and Wuling Motors calling it the “best Golden Week in many years.”
This uptick in sales has lifted sentiment towards Chinese EV stocks.
Take Nio, for example—its share price more than doubled in one month, reaching close to US$7.40, before easing to US$5.22 as of 22 October 2024. Even so, it remains well above its 52-week low of US$3.61....