Why Shares of EV Stocks Nio, Li Auto, and XPeng Are Driving Higher This Week

Extending the rises they all enjoyed in the last full week of April, shares of electric vehicle (EV) makers Nio (NYSE: NIO), XPeng (NYSE: XPEV), and Li Auto (NASDAQ: LI) have all continued motoring significantly higher this week in contrast to the S 500 and Dow Jones Industrial Average, which are both inching toward minor gains.

As of the market's close on Thursday, shares of Nio had risen 24.5% since the end of trading last Friday, while XPeng and Li Auto are up 19.19% and 15.7%, respectively.

For all three companies, increasing customer demand for their EVs powered investors' favorable sentiment this week. Nio reported 15,620 vehicle deliveries for April, representing a 134.6% year-over-year increase.

Source Fool.com