Nio began deliveries of its new ET7, an upscale electric sedan, on Monday, March 28, 2022.
U.S.-traded shares of Chinese electric vehicle makers were among those hit by a dramatic sell-off Monday, as investors soured on non-state-run Chinese companies following a weekend of dramatic political developments in China.
Shares of Li Auto were down nearly 19%, Nio’s were down 17%, and Xpeng Motors’ plunged 13% in afternoon trading in New York, while shares of larger BYD were down about 9%. Other prominent Chinese companies including Alibaba and Tencent Music Entertainment suffered similarly dramatic declines.
The sell-off followed a weekend in which President Xi Jinping appeared poised for an…