Shares of Chinese electric vehicle maker LI AUTO (02015) soared 6.16% on Tuesday in the pre-market session, outperforming the broader market.
The rally comes on the back of strong weekly insurance registration data for LI AUTO's vehicles ahead of the Chinese Lunar New Year holiday. According to the data, LI AUTO recorded 9,500 insurance registrations last week, up 25% from the previous week.
This robust pre-holiday demand suggests that LI AUTO's deliveries are likely to remain resilient despite the typical slowdown in auto sales during the festive period. Investors appear to be pricing in continued momentum for LI AUTO, buoyed by the company's growing popularity among Chinese consumers seeking premium electric vehicles.
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