Nio, XPeng stocks surge after EV delivery data

The rallies come after EV giant Tesla Inc. TSLA, which generates a significant percentage of its sales from China, also reported deliveries that beat expectations by wide margins.The rallies come after EV giant Tesla Inc. TSLA , which generates a significant percentage of its sales from China, also reported deliveries that beat expectations by wide margins.The company reported over the weekend that it delivered 10,707 EVs in June, up 74.0% from May, but down 17.4% from a year ago.

The company reported 8,620 vehicles in June, up 14.8% from May, to mark a fifth-straight month of gains, but June deliveries were down 43.6% from a year ago. Li Auto Inc. shares LI charged up 6.5% toward a near one-year high, after the Beijing-based company reported June deliveries of a monthly record of 32,575 EVs, up 15.2% from May and up 146.0% from last year.

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Stock market today: World shares are higher on optimism that price pressures may be easingWorld shares are mostly higher as investors take heart from reports that show inflation is abating, which might enable the Federal Reserve to back away from interest rate hikes.
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