Chinese EV makers’ shares skid as sales slide after tax incentive ends

2026-02-02 - 07:08

Major Chinese electric vehicle (EV) makers got off to a bumpy start in 2026 as they reported falling deliveries in January due to softening government support. Shares of Hong Kong-listed BYD, Xpeng, Li Auto and Nio plummeted on Monday morning, battered by a bearish delivery outlook in the cutthroat mainland EV market. “Lacklustre [sales] data in January represented a rude reminder that the industry will face a difficult year,” said Ivan Li, a researcher at Loyal Wealth Management in Shanghai....