24H | China's Li Auto Soars 10% in Overnight Trading on Launch of First Electric SUV i8; Rivals XPeng up 4%; NIO up 1.8%
Li Auto Inc., the Chinese electric vehicle maker, saw its stock soar 10% in overnight trading on Tuesday on news of the launch of its first fully electric SUV model, the i8.
The company unveiled the new i8 electric SUV on Tuesday, though pricing details have not yet been announced. The i8 represents Li Auto's first step into the pure electric vehicle market, having previously offered plug-in hybrid models.
Investors reacted positively to the i8 launch, driving up Li Auto's stock as the company joins other Chinese automakers like Nio and Xpeng in expanding their all-electric vehicle lineups to meet growing consumer demand. XPeng rallied 4 in overnight trading while NIO up 1.8%.
Li Auto’s Hong Kong-listed shares rallied 8%.
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