Will Easing Of Covid Rules Slash Risk For Chinese EV Maker NIO?

China-based electric vehicle maker NIO (NYSE: NIO) powered more than 19% higher Wednesday. Shares were trading at $12.51 with an hour left in the session. 

MarketBeat.com – MarketBeat

NIO, along with other Chinese EV manufacturers, rose in tandem with XPeng (NYSE: XPEV), which reported a third-quarter loss of $0.36, meeting views. Revenue  $959.2 million came in below analysts’ expectations. 

As always, investors look to the future, and there’s now optimism about these companies’ ability to increase production and introduce new models. XPeng’s forecast for deliveries in the current quarter was better than expected. 

In addition, the Chinese government may be softening its stance on Covid lockdowns

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