shares of nio inc nio slumped 25 in premarket trading wednesday in the wake of more price cuts from tesla inc tsla  which is also due to report firstquarter results after the closing bell among other chinabased electric vehicle makers shares of xpeng inc sank 67 and li auto inc shed 38 meanwhile tesla’s stock fell 20 tesla generated 222 of its total 2022 revenue from china the stocks’ declines come as the ishares msci china exchangetraded fund mchi fell 16 in wednesday’s premarket while futures es00 for the sp 500 spx declined 05