Why Tesla Rivals Nio, Xpeng Are Going Higher In Hong Kong Today

Shares of U.S.-listed Chinese electric automakers Nio Inc. NIO and Xpeng Inc. XPEV were trading in the green, while Li Auto Inc. LI struggled in Hong Kong on Tuesday.

Macro Factors: The Hang Sang Index continued its downtrend for the second week in a row amid weak global cues. The Shanghai COVID-19 lockdown has disrupted production for electric-vehicle makers such as Tesla Inc TSLA and Nio, potentially hitting their bottom lines.

Company In The News: Despite the restrictions and a warning for a potential hike in prices of its models, shares of Nio were trading on a positive note in the markets today in the wake of sharp increases in input prices, especially the prices of materials that go into batteries.

Meanwhile, XPeng's special P7 Black Label Edition, which it unveiled late last month, is now available for orders, according to CnEVPost.

Photo courtesy: Nio