Li Auto, NIO Shares Jump as July Sales Figures Are Released

August 9, 2022 12:46:21

China is a major player in the electric vehicle market, with Chinese automakers selling around 2.9 million electric vehicles and even surpassing EV juggernaut Tesla. Li Auto and NIO, two Chinese electric vehicle startups that have seen increased sales in recent months, saw their share prices rise after they revealed a rise in their July electric vehicle deliveries.

NIO Inc. (NYSE: NIO), which is based in Shanghai, said that it delivered 10,052 EVs in July, an increase of 26.7% compared to sales in July 2021 but less than…

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