Electric vehicle stocks rally in premarket trading

(April 15) Electric vehicle stocks rally in premarket trading.

Xpeng rose more than 2%. Chinese electric carmaker Xpeng Motors is looking into making its own semiconductors for autonomous driving. Xinzhou Wu, vice president in charge of autonomous driving at Xpeng, said the company is "looking at all possible options" in terms of technologies, to stay ahead of rivals, including autonomous driving chips. In addition, Xpeng launched a new electric sedan called the P5 on Wednesday.

NIO gained nearly 2%. Chinese electric vehicle maker Nio Inc. will unveil its new NIO Power plan along with the first official interior reveal of its ET7 sedan at the 19th Shanghai International Automobile Industry Exhibition next week, cnEVpost reported Wednesday. In addition，It was reported earlier this week that Nio confirmed its long-awaited partnership with oil giant China Petroleum & Chemical Corporation or Sinopec, on setting up battery swap stations at Sinopec’s gas filling stations.