LI Sep 2024 36.000 call
- Yahoo Finance Video
Li Auto stock slides on Q1 earnings, net profit decline
Shares of Li Auto (LI) are falling in Monday's pre-market session after the Chinese car company reported net profit declines and missed quarter-over-quarter EV delivery estimates. Morning Brief Hosts Seana Smith and Brad Smith check out the electric vehicle maker's latest earnings print. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Luke Carberry Mogan.
- Reuters
Li Auto delays pure electric SUV launch due to insufficient fast charging network
China's Li Auto said it has postponed plans to launch pure electric SUV models to next year, citing hurdles such as a lack of enough fast chargers, sending its shares down more than 17% on Tuesday. The decision comes as Li Auto, which has built its profits and success on four extended-range gas electric hybrid models, has also encountered a setback with its first fully electric model Mega that didn't meet its original expectation of sales. "Enough charging stations and enough incremental display spots (in our retail shops) are two critical and necessary conditions for selling our BEV SUV product," chief executive Li Xiang told an earnings call late on Monday, referring to battery-powered EVs.
- Investor's Business Daily
Li Auto Earnings Miss Views; China EV Maker Guides Low
Li Auto earnings fell short in Q1, with the China EV maker guiding low for Q2 amid fierce competition. XPeng reports Tuesday, with Nio next week.
