Li Auto May Gain China EV Market Share

Dow Jones2023-08-10

Li Auto may gain market share in China's electric-vehicle industry, Nomura analysts say in a research report as they initiate coverage with a buy rating and a target price of $54.00.

The company's battery EV models from 2024 may expand its business scale further and help it gain market share, they say.

Market share is likely a key target for original-equipment manufacturers in China, and Li Auto is running ahead of its peers, which should help support the company's long-term business development, the analysts say.

The EV maker also thinks its 2023 shipments could be 10%-20% ahead of its original target, implying solid momentum for the rest of the year, they note.

ADRs closed 1.9% lower at $41.84 on Wednesday.

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