Chinese EV Stocks Are Getting Hammered. Blame Xi Jinping and Tesla.

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Text size Shares of Chinese electric-vehicle makers are just getting slammed, and it isn't simply because the entire Chinese market was weaker on Monday. Tesla is playing its part too. Monday morning, shares of NIO (ticker: NIO ), XPeng (XPEV) and Li Auto (LI) were off about 20%, 19%, and 23%, respectively. Shares of BYD (1211.Hong Kong) closed down 5.1% in overseas trading. Hong Kong's Hang Seng Index closed down 6.4% after China's Xi Jinping consolidated his hold on power, taking a third five-year term as the country's leader, and as investors fretted over slowing Chinese economic growth. China's economy…

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