© Reuters. 3 Chinese Electric Vehicle Stocks That Beat Sales in Q3 While the global chip shortage continues to impact Chinese EV companies, the industry has immense long-term growth potential. So, popular Chinese EV stocks NIO Inc. (NIO), XPeng Inc. (XPEV), and Li Auto Inc. (LI), which beat their third-quarter vehicle sales estimates, could be worth watching.Despite the semiconductor chip shortage severely affecting the electric vehicle (EV) industry, EV sales of Chinese companies have gotten a boost due to government subsidies and other preferential policies. In addition, the Chinese government would like 20% of new cars sold to be new energy vehicles by 2025. Moreover, China’s Ministry of Industry and Information Technology indicated there could be sector consolidation. Tu Le, the founder of Beijing-based advisory firm Sino Auto Insights, said that he expects China’s top electric-car makers to benefit from efforts to consolidate the industry “since it’ll eliminate potential competitors and perhaps allow them to acquire a team or technology to enhance their products.” As a result, famous Chinese EV makers NIO Inc. (NIO), XPeng Inc. (XPEV), and Li Auto Inc. (LI), which delivered higher-than-expected EV sales in the third quarter, could be solid additions to your watch list. Continue reading on StockNews Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
