Nio shares fall after Tesla stops production in Shanghai
Shares of Nio Inc.
fell 5.7% in premarket trading on Tuesday, to build momentum across the broader stock markets, as shares of Tesla Inc.
production suspension extension at its Shanghai plant seems to put pressure on China-based electric vehicle makers. The stock sell-off makes it likely to open at its lowest price since Nov. 28. Among other China-based electric vehicle makers, shares of XPeng Inc.
down 1.2% and Li Auto Inc.
fell 2.1%, while shares of Tesla rose 4.8%. Meanwhile, the futures contract
for S&P 500
up 0.5%, while Shanghai Composite Index
increased 1.0% overnight.