Chinese EV Maker Li Auto Reports Strong Deliveries For August

Chinese EV maker Li Auto Inc. LI, which listed on the Nasdaq July 30, reported an 11% month-over-month increase in deliveries for August.

What Happened: Li Auto said it delivered 2,711 Li ONE vehicles in August, up from the 2,445 units it delivered in July.

The company unveiled the SUV in April 2019 and began commercial delivery of it in early 2020.

The combined July-August deliveries stood at 5,156 compared to 6,604 for the whole of the second quarter and 2,896 for the first quarter.

As of Aug. 31, the company had 31 retail sales, covering 26 cities.

What's Next? Li Auto, which went public by offering 95 million ADSs at $11.50 per ADS, has seen its shares advance solidly. The stock hit a 52-week high of $24.48 on Aug. 26 before pulling back slightly.

In pre-market trading Wednesday, Li Auto shares were rising 4.2% to $19.06.

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Photo by Jengtingchen via Wikimedia.