Autos

NIO XPEV LI trading down on delisting fears

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Nio’s et5 electric sedan is set to begin deliveries in Sept. 2022.

Nio

U.S.-listed shares of Chinese electric vehicle makers opened sharply lower on Monday, under pressure with other Chinese companies’ U.S.-listed issues amid a new round of delisting fears.

Shares of Nio, XPeng, and Li Auto were all down over 10% in early trading on Monday. The three were still down 4.4%, 7.2%, and 10%, respectively, as of 10:55 a.m. EDT.

The Securities and Exchange Commission last week identified five Chinese companies with U.S.-listed shares that have failed to meet the audit requirements of the Holding Foreign Companies Accountable Act.

The act allows the SEC to delist and ban companies from trading on…



Source cnbc.com

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