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With DIDI’s delisting, the decades-long, trillion-dollar relationship between China and Wall Street may be coming to an end. The move raised further speculation regarding Chinese EV stock listings moving to Hong Kong. This would leave U.S. investors trading ADRs with underlying stocks in the ADRs being Hong Kong-listed.
Amid the rising uncertainties, we believe investors are better off avoiding Chinese electric vehicle stocks NIO Inc. (NIO), XPeng Inc. (XPEV), and Li Auto Inc. (LI). The shares of these companies plunged last week on the news of DIDI’s delisting.
