Li Auto Inc., a leading Chinese electric vehicle (EV) manufacturer, saw its stock soar by 7.9% on October 22, 2024, as investors reacted positively to the record-breaking new energy vehicle (NEV) sales figures in China for September.
According to data released by the China Association of Automobile Manufacturers (CAAM), China's NEV sales reached an all-time high of 1,287,000 units in September, surpassing the previous record set in December 2023. This impressive performance, coupled with the overall bullish market sentiment towards the EV sector, fueled Li Auto's stock surge.
The robust demand for electric vehicles in China has been a driving force behind the growth of companies like Li Auto. As the country continues to prioritize the adoption of environmentally friendly transportation, investors are optimistic about the long-term prospects of EV manufacturers operating in this market.
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