Major Chinese new energy vehicle (NEV) making stocks fell on Wednesday, tracking steep overnight losses in Tesla after the world’s most valuable electric vehicle (EV) maker clocked a quarterly decline in deliveries. Tesla delivered 386,810 vehicles against estimates of 449,080 vehicles. The miss ramped up concerns over slowing demand in the EV maker’s biggest markets, particularly in China.
This trend could draw even more aggressive price cuts from the firm, which bodes poorly for its competitors in China
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