Li Auto Inc., a leading Chinese electric vehicle (EV) manufacturer, saw its shares surge 5.13% in Wednesday's pre-market trading session. The stock's remarkable rally was fueled by investor optimism surrounding the company's robust fundamentals and the broader bullish outlook for China's EV market.
The positive sentiment was underpinned by a report from Bernstein analysts, who projected that China's EV sales growth is likely to remain resilient in 2025, with anticipated growth rates of 20% to 25%. Notably, Bernstein expressed a preference for Li Auto and BYD among EV manufacturers, maintaining an 'outperform' rating on both stocks.
Bolstering the bullish case for Li Auto was the company's impressive third-quarter performance, which showcased its dominance in the competitive EV landscape. Li Auto outperformed rivals NIO and XPeng in terms of vehicle margins, achieving a remarkable 20.9% margin compared to 13.1% for NIO and 8.6% for XPeng. Additionally, the EV maker reported strong delivery growth of 45% year-over-year, surpassing its competitors' growth rates.
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