Stock Track | Li Auto Surges 6.67% as Hong Kong EV Stocks Shine on BYD's Strong Growth Outlook

Stock Track

02-21

Li Auto Inc. (02015), the Chinese electric vehicle maker, saw its stock soar 6.67% in intraday trading on Friday, riding the wave of optimism surrounding the Hong Kong EV sector.

The rally in Li Auto's shares was driven by positive analyst projections for fellow Chinese EV giant BYD Co. Ltd. JPMorgan Chase raised its price target for BYD by a staggering 60%, citing expectations of the company delivering 6.5 million units globally by 2026 due to its rapid global expansion and the roll-out of its self-driving system.

According to the investment bank, BYD's overseas production bases in Thailand, Indonesia, Brazil, and Hungary are expected to gradually increase production capacity, positioning the company for significant growth in the coming years. BYD is also poised to surpass Volkswagen to become China's largest carmaker by 2024, further fueling investor enthusiasm for the Chinese EV sector.

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(02015), the Chinese electric vehicle maker, saw its stock soar 6.67% in intraday trading on Friday, riding the wave of optimism surrounding the Hong Kong EV sector.</p>\n<p>The rally in Li Auto's shares was driven by positive analyst projections for fellow Chinese EV giant BYD Co. Ltd. JPMorgan Chase raised its price target for BYD by a staggering 60%, citing expectations of the company delivering 6.5 million units globally by 2026 due to its rapid global expansion and the roll-out of its self-driving system.</p>\n<p>According to the investment bank, BYD's overseas production bases in Thailand, Indonesia, Brazil, and Hungary are expected to gradually increase production capacity, positioning the company for significant growth in the coming years. 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