Most Chinese startups (NIO, Xpeng, and Li auto) should continue to do well. Recent sales figures, however, have suggested a preference for NIO and Li Auto over Xpeng. NIO, with the release of the ET5 and ET7 models, has revived momentum. Meanwhile, Li Auto, which is focused on plug-in hybrids (PHEVs), is about to reach annual profitability. In fact, the last 12 months of free cash flow already suggest that Li auto is profitable. The NIO ET7