Why Shares of EV Stocks Nio, Li Auto, and XPeng Are Racing Higher Today

Markets seem poised to end the week on a high note with both the S 500 and Dow Jones Industrial Average inching up after a rocky trading session yesterday.

But several electric vehicle (EV) stocks are charging considerably higher today with investors believing that Chinese EV manufacturers might be ready to make a greater push into the market with more-affordable models.

investors are pressing the accelerator pedal on shares of Nio (NYSE: NIO), Li Auto (NASDAQ: LI), and XPeng (NYSE: XPEV). As of 12:22 p.m. ET on Friday, shares of Nio were up 8.8%, while shares of Li Auto and XPeng were up 6.6% and 10.5%, respectively.

Source Fool.com