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Wednesday, November 25, 2020 7:46:44 AM
Xpeng (NYSE:XPEV) -5.73%, Li Auto (NASDAQ:LI) -5.25%, Nio (NYSE:NIO) -3.61% and Kandi Technolgies (NASDAQ:KNDI) -2.9% are lower in early trading on news of a government investigation into the sector.
The National Development and Reform Commission (NDRC) asked local officials to investigate construction and production details of projects related to Evergrande (OTCPK:EGRNF) New Energy Vehicle (NEV) and Shenzhen Baoneng that started from 2017, as per the document seen by Reuters.
"Looks like China is making an effort to regulate" the EV sector, said Cui Dongshu, secretary-general of the China Passenger Car Association.
NEVs include battery-powered electric, plug-in petrol-electric hybrid and hydrogen fuel-cell vehicles. China expects sales of NEVs could reach 1.1M vehicles this year.
Shares of EV manufacturers have rallied in the past one year on the push for clean energy and zero-emissions vehicles with hopes of accelerating the deployment of electric vehicles and public charging outlets. Xpeng and Li Auto got listed in U.S. markets in 2H20.
Previously: Just a pause? Investors cash out of some EV high-fliers (Nov. 24)
Recent XPEV News
- XPENG Announces Vehicle Delivery Results for June and First Half 2024 • GlobeNewswire Inc. • 07/01/2024 09:00:26 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 06/17/2024 09:16:58 PM
- XPENG Announces Vehicle Delivery Results for May 2024 • GlobeNewswire Inc. • 06/01/2024 09:00:27 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/22/2024 08:37:16 PM
- Caution Ahead Of Nvidia Earnings May Weigh On Wall Street • IH Market News • 05/22/2024 01:09:45 PM
- Nvidia Profits Set to Challenge Historic High Market; GE Aerospace Announces New Hires, and More News • IH Market News • 05/22/2024 10:37:09 AM
- Nasdaq, S&P 500 End Choppy Trading Day At New Record Closing Highs • IH Market News • 05/21/2024 08:18:30 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 05/21/2024 08:16:57 PM
- CalPERS to Oppose Exxon Mobil Directors; Microsoft Unveils Copilot+ PCs with AI Focus, and More News • IH Market News • 05/21/2024 11:18:35 AM
- U.S. Index Futures Open Lower Amid Nasdaq Record, Fed Speeches • IH Market News • 05/21/2024 11:13:09 AM
- XPENG Reports First Quarter 2024 Unaudited Financial Results • GlobeNewswire Inc. • 05/21/2024 09:30:00 AM
- XPENG launches industry's first AI-powered in-car OS, promoting AI-enabled smart driving experience • GlobeNewswire Inc. • 05/20/2024 03:07:28 PM
- OpenAI’s Reddit Partnership Boosts Shares by 14%, Microsoft Embraces AMD Chips for AI, and More News • IH Market News • 05/17/2024 11:36:28 AM
- XPENG to Report First Quarter 2024 Financial Results on Tuesday, May 21, 2024 • GlobeNewswire Inc. • 05/07/2024 09:00:25 AM
- XPENG Announces Vehicle Delivery Results for April 2024 • GlobeNewswire Inc. • 05/01/2024 09:00:27 AM
- BHP Bids $38.8 Billion for Anglo American; Biden Unveils Historic Micron Technology Deal, and More News • IH Market News • 04/25/2024 11:48:40 AM
- XPENG to Showcase AI-powered Smart EV innovations at Beijing Auto Show 2024 • GlobeNewswire Inc. • 04/22/2024 04:30:02 AM
- XPENG Publishes 2023 Environmental, Social and Governance Report • GlobeNewswire Inc. • 04/17/2024 10:35:00 AM
- XPENG Files 2023 Annual Report on Form 20-F • GlobeNewswire Inc. • 04/17/2024 10:30:00 AM
- XPENG and the Volkswagen Group Announce Entry into the Framework Agreement on E/E Architecture Technical Collaboration • GlobeNewswire Inc. • 04/17/2024 08:19:01 AM
- XPENG Expands Footprint with Entry Into Hong Kong and Macau • GlobeNewswire Inc. • 04/10/2024 07:11:37 AM
- XPENG Announces Vehicle Delivery Results for March and First Quarter 2024 • GlobeNewswire Inc. • 04/01/2024 09:00:00 AM
- Unilever Initiates Ice Cream Division Spin-Off and Announces Job Cuts; Berkshire Ramps Up Share Buyback Efforts, and More • IH Market News • 03/19/2024 11:33:10 AM
- US Index Futures Decline Ahead of Federal Reserve Meeting, Oil Prices Retreat • IH Market News • 03/19/2024 11:27:29 AM
- XPENG Reports Fourth Quarter and Fiscal Year 2023 Unaudited Financial Results • GlobeNewswire Inc. • 03/19/2024 10:00:00 AM
FEATURED ECGI Holdings Enhances Board with Artificial Intelligence (AI) Expert Ahead of Allon Apparel Launch • Jul 10, 2024 8:30 AM
Avant Technologies to Meet Unmet Needs in AI Industry While Addressing Sustainability Concerns • AVAI • Jul 10, 2024 8:00 AM
Panther Minerals Inc. Launches Investor Connect AI Chatbot for Enhanced Investor Engagement and Lead Generation • PURR • Jul 9, 2024 9:00 AM
Glidelogic Corp. Becomes TikTok Shop Partner, Opening a New Chapter in E-commerce Services • GDLG • Jul 5, 2024 7:09 AM
Freedom Holdings Corporate Update; Announces Management Has Signed Letter of Intent • FHLD • Jul 3, 2024 9:00 AM
EWRC's 21 Moves Gaming Studios Moves to SONY Pictures Studios and Green Lights Development of a Third Upcoming Game • EWRC • Jul 2, 2024 8:00 AM