What’s Driving Chinese EV Titans Nio, XPeng, Li Auto Higher Premarket Today?

Chinese electric vehicle startups Nio, Inc. (NYSE:NIO), XPeng, Inc. (NYSE:XPEV) and Li Auto, Inc. (NASDAQ:LI) are seen extending their new-found momentum on Friday.

The stocks of these companies recently found support from the domestic government’s reiteration of support to jumpstart the economy. Although the announcement did not shed much light on the specifics regarding stimulatory support, domestic companies rallied in hopes of benefiting from a potentially strong economic recovery.