EV Shares Slid in Morning Trading, With Li Auto Falling over 6%

Tiger Newspress04-19

EV shares slid in premarket trading.

Li Auto fell over 6%; VinFast fell over 5%; Nio fell over 3%; XPeng, Nikola fell over 2%; Tesla fell about 1%.

Li Auto has rolled out its new extended-range electric vehicle (EREV) model, the Li L6, with lower prices that are expected to reach a wider customer base.

The company officially launched the Li L6 at an event, offering it in both Pro and Max trims with starting prices of RMB 249,800 ($34,500) and RMB 279,800, respectively.

The Li L6 becomes Li Auto's least expensive model, and its previous cheapest model was the Li L7 with a starting price of RMB 319,800.

Tesla is recalling 3,878 Cybertrucks to fix an accelerator pedal pad that could come loose and become lodged in the interior trim, the U.S. National Highway Traffic Safety Administration (NHTSA) said on Friday.

A trapped accelerator pedal could cause the vehicle to accelerate unintentionally, increasing the risk of a crash, the safety regulator said in a notice.

Tesla started deliveries of its Cybertruck electric pickup truck late last year, after a two-year delay due to production problems and battery-supply constraints.

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