The China Passenger Car Association stated electrical vehicle sales in February increased more than sevenfold from a year ago while falling 38% from January, to 97,000 EVs. Tesla offered 18,318 EVs in February, which Wedbush analyst Dan Ives stated is up 18% kind January and puts Teslas China-based sales “on a strong trajectory” into March. “Considering the Lunar New Year in China, which took up a part of February, we would define these February results as rather excellent and ahead of Street expectations,” Ives composed. Independently, shares of China-based EV maker Nio Inc
.

Shares of Tesla Inc
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TSLA, -5.84%.
The China Passenger Car Association said electric vehicle sales in February increased more than sevenfold from a year ago while falling 38% from January, to 97,000 EVs. Tesla offered 18,318 EVs in February, which Wedbush expert Dan Ives said is up 18% kind January and puts Teslas China-based sales “on a strong trajectory” into March. Individually, shares of China-based EV maker Nio Inc
.
NIO,. -7.61%.
rallied 5.9% ahead of the open, after plunging 29.2% amid a five-day losing streak through Monday, which followed a 19.7% drop in February. Amongst other China-based EV makers, shares of XPeng Inc
.
XPEV,. -3.96%.
jumped 6.3% and Li Auto Inc
.
LI,. -5.03%.
climbed 5.6%. The stocks rallies comes as futures.
ES00,.
+0.93%.
for the S&P 500.
SPX,.
-0.54%.
gotten 1.1% ahead of the open.

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