The buoyancy seen in the Chinese electric vehicles stocks faces risk in the wake of regulatory scrutiny by China. What Happened: Chinese EV makers Nio Inc – ADR NIO, Xpeng Inc – ADR XPEV and Li Auto Inc. LI, which were all in record territory ahead of Tuesday's modest pullback, are trading notably lower Wednesday morning. The weakness is attributable to negative regulatory tidings out of China, which dragged China-listed new energy vehicle stocks sharply lower in the afternoon session.