Chinese electric vehicles

Chinese electric vehicle stocks surged on Thursday, driven by strong June delivery data. BYD shares rose nearly 9%, while Xiaomi’s climbed around 5%. Xiaomi exceeded 30,000 deliveries for the third straight month, hitting over 180,000 units in the first half of the year. BYD reported a 5.46% year-over-year increase in June sales, with Deutsche Bank projecting a substantial profit jump for the company in Q2. These robust performances indicate growing market penetration and manufacturing prowess for Chinese EV makers.