U.S. stock futures were little changed Monday after the tech-heavy Nasdaq Composite posted a record-high Friday.
Chinese EV makers shares listed in Hong Kong fell in early trading on Monday. Shares of Li Auto led declines with falls of nearly 11%, while Nio shares dropped 4.6%, Xpeng down 3.9% and BYD off 1.3%. Fears of price wars persist in China's EV market, the world's largest.
On Monday, BYD also launched a new version of its best-selling car, the Yuan Plus crossover also known as the Atto 3 overseas, pricing it lower than its discontinued predecessor, according to Reuters . Last week, Li Auto revealed a new EV called 'Mega.' 'Overall, it appears that local OEMs are developing a fear of missing out when it comes to price cuts,' Morgan Stanley analysts said in a note.
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