Li Auto's stock extends gains after August EV deliveries more than triples to a record

2 weeks ago 7
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Shares of Li Auto Inc. LI, -9.09% gained 0.8% in premarket trading Wednesday, bucking the weakness in the China-based electric vehicle peers, after the company reported record August deliveries. The company said it delivered 9,433 Li ONE EVs in August, up 248.0% from a year ago and up 9.8% from July. the company has now delivered 48,176 Li ONEs year to date. The deliveries data comes a day after Li's stock surged 6.3% after the company reported a surprise second-quarter loss but revenue that exceeded expectations and provided an upbeat outlook. Meanwhile, shares of fellow China-based EV makers Nio Inc. NIO, +3.99% dropped 4.2% in premarket trading and of XPeng Inc. XPEV, +4.29% shed 2.1% after the companies reported August deliveries, but also reported some delivery issues. The declines come as futures ES00, +0.35% for the S&P 500 SPX, -0.13% tack on 0.3%.

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