Li Auto Jumps 2% in Morning Trading

Tiger Newspress2022-12-30

Li Auto Jumps 2% in Morning Trading.

Li Auto Inc. said Friday that it delivered more than 20,000 electric vehicles in December, which is more than 33% above the previous monthly record delivered last month.

The China-based EV maker’s announcement of preliminary delivery data comes just days after rival Nio Inc. sparked a selloff in EV maker stocks after “prudently” slashing its fourth-quarter delivery outlook, citing COVID-related production challenges and supply chain constraints.

At a media event in Guangzhou on Friday, Li Auto said “December deliveries will exceed 20,000 vehicles.” That would be up more than 42% from the 14,087 EVs delivered in December 2021, and up from November 2022’s monthly record of 15,034 EVs delivered.

The company also said it plans to hold a launch event for its Li L7 five-seat family sport-utility vehicle on Feb. 8.

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