Macquarie downgrades Li Auto due to lack of positive catalysts, while raising price targets for BYD and NIO. Li Auto risks losing momentum without new BEV models or innovations.

The Chinese electric vehicle industry is exhibiting significant growth, driven by government support and growing consumer interest. Given China's ongoing efforts to stimulate the domestic economy, EV makers can anticipate a surge in demand,

Nio, BYD, Xiaomi and Aito, co-developed by Huawei, had yet to release September deliveries as of Tuesday afternoon.

XPeng ($XPEV), and BYD ($BYDDY) rallied 11.5%, 5.5%, and 5%, respectively, on Tuesday after the Chinese electric vehicle