Xpeng

Chinese electric vehicle stocks moved lower after Geely acquired a 30% stake in Nio Power, the battery swapping and charging arm of Nio. Nio shares slid around 4% on the news, while rival XPeng also dropped 4% and Tesla slipped. Investors appear to be weighing what Geely's investment means for Nio's capital structure and the future of its power network.

Xpeng shares declined as technical selling pressure combined with investor skepticism about the Chinese automaker's robotics ambitions. Traders cited weakening chart momentum, while some analysts questioned how quickly the company's humanoid robot and autonomy programs can generate returns, adding to caution around the stock.