Volkswagen Group (OTC: VWAGY) CEO Herbert Diess on Monday praised China for its speed and technology and called for more cooperation and presence in the region.
Cathie Wood’s Ark Investment Management on Monday further raised its exposure in the U.S listed Chinese electric vehicle maker Xpeng Inc (NYSE: XPENG), continuing its buying spree in the company that aims to rival Tesla Inc (NASDAQ:
Shares of Alibaba Group Holding Limited (NYSE: BABA) and Baidu Inc. (NASDAQ: BIDU) traded slightly higher in Hong Kong on Monday, while JD.Com Inc. (NASDAQ:
Stung by the broader market weakness and deterioration in sentiment toward Chinese stocks, the EV sector closed the week ending Dec. 17 mostly in the red. Tesla, Inc. (NASDAQ: TSLA) came under selling pressure amid further stock sales by CEO Elon Musk.