Why Tesla, Nio, Nikola, Blink Charging And Xpeng Stock Are Popping Off Today

Shares of several EV makers and EV service providers Tesla Inc TSLA, Nio NIO, Nikola Corporation NKLA, Blink Charging Co BLNK and Xpeng Inc - ADR XPEV are trading higher Monday after Reuters reported California's democratic senators Alex Padilla and Dianne Feinstein have urged President Biden to set a firm date to phase out gas-powered passenger cars and trucks.

Tesla has solidified itself as a vertically integrated sustainable energy company that also aims to transition the world to electric mobility by making electric vehicles. 

Tesla shares are also trading higher after Ark Funds announced a $3,000 price target on the stock by 2025.

Tesla is trading higher by 5.69% at $692.10 at the time of publication.

See also: How to Invest in Tesla Stock

Nikola is a designer and manufacturer of battery-electric and hydrogen-electric vehicles, electric vehicle drivetrains, vehicle components, energy storage systems, and hydrogen fueling station infrastructure.

Nikola is trading higher by 5.74% at $16.31.

Nio operates in China's premium electric vehicle market. The company designs and jointly manufactures, and sells smart and connected premium electric vehicles, driving innovations in next-generation technologies in connectivity, autonomous driving, and artificial intelligence.

Nio is trading higher by around 1% at $43.80.

Blink Charging is an owner, operator, and provider of EV charging services. The company offers both residential and commercial EV charging equipment, enabling EV drivers to easily recharge at various locations.

Blink Charging is trading higher by 7.03% at $40.93.

Xpeng is a smart EV company designing, developing, manufacturing and marketing smart electric vehicles in China. The company manufactures environmentally-friendly vehicles, namely an SUV (the G3) and a four-door sports sedan (the P7). Xpeng targets the mid-to high-end segment in China's passenger vehicle market.

Xpeng is trading higher by around 1% at $38.06.

See also: How to Buy XPeng Motors (XPEV) Stock