New energy vehicle stock prices fell, and the net worth of the founders of NIO, Li Auto and Xpeng evaporated by tens of billions of dollars

Tesla is not the only company whose stock price has plummeted in recent days. The entire new energy vehicle sector has been affected, and the stock prices of China's three new car manufacturers, Weilai, Li Auto, and Xpeng, have also fallen. Weilai, which is listed on the US stock market, has seen its stock price fall 22% from its peak, Li Auto's stock price has fallen 27% from January, and Xpeng's stock price has also plummeted 33% from its recent high.

The Bloomberg Billionaires Index shows that the wealth of the three company founders Li Bin, Li Xiang and He Xiaopeng has evaporated by about $10 billion from its high in January.

Robert Cowell, a well-known stock research analyst, said: "Electric vehicle companies have been growing significantly for a period of time, which makes their stock prices more vulnerable to changes in market sentiment. In addition, market competition is also an important factor affecting stock prices, because in the long run, there can only be a few leading companies in the industry."

Chinese new energy vehicle stocks have also been affected to a certain extent. The Hong Kong-listed share price of Evergrande New Energy Vehicle Group has fallen 23% this week, and the share price of BYD, a Chinese electric vehicle manufacturer invested by Warren Buffett, has also fallen 18% from its recent high.

However, the share prices of Xpeng and Li Auto are still more than twice what they were when they went public last year, and NIO's share price soared 1,100% last year, surpassing Tesla's increase.

It is generally believed that Tesla's stock price plunge was partly due to the decline of its $1.5 billion investment in Bitcoin, but there are other influencing factors, such as traditional automakers such as Ford and General Motors are stepping up their electrification transformation.

As a winner of Toutiao's Qingyun Plan and Baijiahao's Bai+ Plan, the 2019 Baidu Digital Author of the Year, the Baijiahao's Most Popular Author in the Technology Field, the 2019 Sogou Technology and Culture Author, and the 2021 Baijiahao Quarterly Influential Creator, he has won many awards, including the 2013 Sohu Best Industry Media Person, the 2015 China New Media Entrepreneurship Competition Beijing Third Place, the 2015 Guangmang Experience Award, the 2015 China New Media Entrepreneurship Competition Finals Third Place, and the 2018 Baidu Dynamic Annual Powerful Celebrity.