Shares of Chinese electric vehicle maker Nio Inc. fell 3.5 percent in pre-conference trading as data showed a new drop in car sales in China in January for the eighth straight month.
The Chinese Automobile Manufacturers Association said passenger car sales were down 4.4% from a year earlier, and said sales were expected to remain sluggish in February.
Other Chinese electric vehicle manufacturers are also falling pre-conference in the US.
Xpeng Inc recorded losses of 2.28%, Li Auto 2.81%. US Tesla is also down 1.90%, as in 2021 it earned 25.7% of its total revenue from China, recording revenue of 13.84 billion dollars from the country.
Source: Capital
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