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Chinese EV Stocks: The Flying Car News That Has NIO, LI and XPEV Stocks Gaining

Today, Chinese electric vehicle (EV) stocks are seeing some rather impressive price action. Shares of Nio (NYSE:NIO), Li Auto (NASDAQ:LI) and XPeng (NYSE:XPEV) are all up between 6% and 12% at the time of writing.

A hand holds an electric vehicle battery charger up to a car.
Source: Shutterstock

These moves appear to indicate two things. First, U.S. investors are growing more bullish on Chinese equities.

Second, it appears a sector-specific catalyst is at play with Chinese EV stocks. Today, there’s some high-profile news that’s taking these emerging market EV stocks higher. Let’s take a look at what’s driving interest in the Chinese EV sector today.

Chinese EV Stocks Soar on Flying Car News

At XPeng’s annual 1024 Tech day, the company unveiled a number of new developments. However, among the key innovations investors are focused on is the company’s plans for a flying car.

We’re now in the 2020s, and the future envisioned in The Jetsons hasn’t materialized yet. That said, Xpeng aims to change that.

The company’s XPeng X2 will reportedly be available in 2024. XPeng is also reportedly working with HT Aero, an urban mobility company backed by XPeng, to build these vehicles. The company notes that HT already has 15,000 successful flights under its belt. Accordingly, the rollout of the company’s X2 model appears to be more realistic than other options elsewhere around the world.

Additionally, XPeng announced at this event a number of other technological innovations. Faster supercharging technology and new robotic tech anticipated to be used to boost autonomy were other key highlights. Additionally, a new “full-scenario advanced driver assistance” technology expected to be rolled out in the first half of 2023. This sounds a lot like “full self driving,” though investors will have to wait and see what is ultimately rolled out.

For now, XPeng and its Chinese EV counterparts appear to have a number of catalysts investors like right now.

On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.


Article printed from InvestorPlace Media, https://investorplace.com/2021/10/chinese-ev-stocks-the-flying-car-news-that-has-nio-li-and-xpev-stocks-gaining/.

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