/EV%20in%20showroom%20by%20Robert%20Way%20via%20Shutterstock.jpg)
Chinese stocks witnessed the rally of a lifetime in late September, as the country unleashed a flurry of monetary and fiscal policy stimulus. It was nothing short of China’s “whatever it takes” moment as the country tries to curtail a worsening economic slowdown.
The stimulus triggered a broad-based rally in Chinese stocks, and electric vehicle (EV) stocks were among the best performers. NIO (NIO) – once touted as the “Tesla of China” – rose 65% in the month. However, thanks to the slump in NIO stock during the first half of the year, it hasn’t yet turned positive for 2024 – just like fellow its Chinese EV peers, Xpeng (XPEV) and Li Auto (LI).
