Li Auto's stock falls due to EV model price cuts amid competition with Tesla and other Chinese manufacturers.
Li Auto's stock is falling due to price cuts on five of its electric vehicle models, an attempt to compete with other EV manufacturers in China. The price reductions, ranging from $2,500 to $4,100, have led to a decline in the stock's value and concerns about the company's L6 orders and the impact of Tesla's price cuts on EV peers. Li Auto's shares have declined more than 33% year-to-date and are approaching their 52-week low.
April 22, 2024
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