Why Li Auto, XPeng Shares Are Moving Higher
Portfolio Pulse from Adam Eckert
China announced an extension of its new energy vehicle (NEV) purchase tax exemption, introducing a 520 billion yuan ($72.35 billion) package aimed at increasing auto demand. NEVs purchased in 2024 and 2025 will be eligible for a purchase tax exemption of up to 30,000 yuan per vehicle, with exemptions extending into 2026 and 2027 at reduced amounts. This has fueled a rally in Chinese EV stocks, including Li Auto and XPeng.
June 21, 2023 | 1:29 pm
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POSITIVE IMPACT
Li Auto shares are trading higher after China announced an extension of its NEV purchase tax exemption, which is expected to increase auto demand and benefit the company.
The extension of the NEV purchase tax exemption in China is expected to increase auto demand, directly benefiting Li Auto as a Chinese EV manufacturer. This positive news has already led to a rise in the company's share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
XPeng shares are trading higher after China announced an extension of its NEV purchase tax exemption, which is expected to increase auto demand and benefit the company.
The extension of the NEV purchase tax exemption in China is expected to increase auto demand, directly benefiting XPeng as a Chinese EV manufacturer. This positive news has already led to a rise in the company's share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100