On Thursday, the Chinese market regulator announced that Tesla will be recalling over 435,000 cars in China and providing software updates to address a rear light issue.
XPeng, a Chinese electric car manufacturer, reported a larger than anticipated loss and its revenue was lower than anticipated due to supply chain problems, increased competition, and a difficult macroeconomic climate.
Stocks in the Asia-Pacific region were mixed on Wednesday, as investors digested the results of the U.S. midterm elections and China's producer prices fell for the first time in October since December 2020.