Nio Inc. (NIO-SW) experienced a significant 6.97% plummet in its stock price during the morning trading session on Tuesday, March 4th, 2025. The decline came as part of a broader selloff in electric vehicle (EV) maker stocks in the Hong Kong market.
According to reports, several prominent EV companies saw their share prices drop sharply during the morning hours. Geely Auto fell by 8%, while BYD and Nio both declined by 6%. Other EV makers like Leapmotor, XPeng, and Li Auto also suffered losses, with their stocks dropping between 3% and 4%.
While the specific reasons behind the EV sector selloff are not entirely clear, the news of BYD raising $5.59 billion in a primary share sale may have impacted investor sentiment towards EV stocks. The offering, which was increased in size and marked the largest of its kind in Hong Kong in four years, could potentially influence market dynamics and competition within the EV industry.
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