Chinese EV Stocks Fall Amid Poor January Sales Figures
ByAinvest
Monday, Feb 2, 2026 2:33 am ET1min read
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Chinese EV stocks BYD, Xpeng, and Nio experienced a decline in value on the Hong Kong exchange after reporting poor January sales figures. BYD saw a 30% decline in sales, while Xpeng and Nio reported 34% and 96% YoY surges in sales, respectively. Xiaomi's SU7 Sedan sales also declined, with just 45 units sold in December. The decline in sales may be attributed to scaling back of EV incentives in China and a new 5% tax on EVs.
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