Published on 31 May 2024 on Zacks via Yahoo Finance
Bear of the Day: Li Auto (LI)
Company Overview
Zacks Rank #5 (Strong Sell) stock Li Auto Inc (LI) is an innovator and leader in China’s emerging electric vehicle (EV) market. Li Auto is a pioneer in the Chinese EV market, particularly regarding extended-range electric vehicles, sport utility vehicles (SUVs), and “smart EVs.” Though Li Auto offers a premium product, it has a premium price tag. The Mega multi-purpose vehicle, the company’s first fully electric model, comes with a sticker price of nearly $80,000. Though it was once considered the “Chinese Tesla (TSLA),” other Chinese EV makers have taken off while Li’s fully electric model fell short of Wall Street’s delivery expectations by more than 50%.