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When we think of Chinese electric vehicle (EV) stocks, NIO (NIO) has historically been the most popular among U.S. investors, and almost invariably has the highest average traded volumes. Xpeng Motors (XPEV) has gained good traction recently amid its stellar rally in July. Li Auto (LI), meanwhile, was often overlooked - but has gained prominence gradually, and has now caught the market’s attention with both its price action as well as its financial and operating performance.
While both NIO and Xpeng Motors trade significantly below their all-time highs, Li Auto recently hit a new record high. It is among the rare EV stocks that hit a new record peak in 2023, as even Tesla (TSLA) – which is often the bellwether of the EV industry – hasn’t been able to reclaim its 2021 highs, despite almost doubling in 2023.
