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Benzinga
Benzinga
Business
Anusuya Lahiri

NIO And Li Auto Fall As Beijing Tightens Grip On EV Exports

NIO Li Li Auto Beijing Robert Way electric vehicle
Nio-Photo by Robert Way via Shutterstock

Chinese electric vehicle (EV) stocks NIO (NYSE: NIO) and Li Auto (NASDAQ: LI) slipped Friday following news that Beijing plans to implement stricter regulations on EV exports.

Starting January 1, China’s Ministry of Commerce will require automakers to secure permits before exporting EVs, a measure officials say is intended to ensure the “healthy development” of the EV industry.

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