CMB Stock News Of The Day 📰🗞️🗞️📈📉

“China’s EV Startups Nio, Li Auto, and XPeng Reach Profitability Amid Market Challenges”🚨🚨🚨

China’s EV trio—Nio, Li Auto, and XPeng—have all turned profitable, signaling a major milestone in the country’s electric vehicle sector. XPeng led with a Q4 net profit of around $55 million, Nio posted about $40 million, and Li Auto reported just under $1 million.

The profitability of these Chinese startups stands in contrast to U.S. EV makers, where Rivian and Lucid are still working toward sustainable profits and scaling back operations.

However, challenges remain. XPeng ADRs fell over 6% after its Q1 sales forecast missed expectations, and China’s EV market is feeling pressure from subsidy rollbacks—retail EV and hybrid sales dropped 32% in February year-over-year