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Global News Impacting Chinese Tech

Tesla Stock Is Soaring. Thank the Chinese Government. | Barron's

News Snapshot:

Shares of Chinese electric- vehicle makers NIO XPeng and Li Auto are soaring after the Chinese government reiterated its support for car sales. Even Tesla stock is getting a big boost. On Thursday, the Chinese Ministry of Commerce issued a notice indicating support for sales of both new and used cars. That is good for all auto makers, but the notice, as translated by Google, also indicates that subsidies for so-called new energy vehicles, a category including both battery-electric and plug-in hybrids vehicles, might be extended.

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