To The Moon

Chinese automaker NIO will start delivering its first fully electric SUV model L60 Sport later this month, the South China Morning Post reported Thursday.The SUV will be priced 17% cheaper than Tesla's Model Y, according to the report.The vehicle will have a 555-kilometer range per charge and batteries can be swapped within a few minutes, the publication noted.

Chinese electric-vehicle stocks were surging early Monday despite the Biden administration's plan, reported by The Wall Street Journal, to hike tariffs on the cars to 100% from 25%.NIO shares were up 4.9% in early trading, while the S&P 500 and Nasdaq Composite were both up 0.1%. XPeng shares gained 2.5%. Li Auto stock was up 2.2%.The biggest reason the stocks haven't been hurt by the tariffs is that none of those auto makers sell cars in the U.S. and aren't likely to soon. The existing 25% tariff is enough to wipe out any potential profits.The Chinese EV makers have been shipping cars to Europe and Southeast Asia instead.Another reason for the gains is Zeekr, a Chinese EV maker that sold American depositary receipts, listed on the New York Stock Exchange, to the public on Friday. The ADRs leapt 35% on Friday and were up 9.1% early Monday. That gives the EV maker a market value of about $7.6 billion.

Li Auto Inc. today announced that the Company delivered 28,984 vehicles in March 2024, increasing by 39.2% year over year. This brought the Company’s first-quarter deliveries to 80,400, up 52.9% year over year. The cumulative deliveries of Li Auto vehicles reached 713,764 as of the end of March 2024, establishing Li Auto as the first Chinese emerging new energy automaker to reach a milestone of 700,000 cumulative deliveries.“With gratitude for the trust and support of over 700,000 families, we r