Why Li Auto Stock Is Rising

Li Auto Inc LI shares are trading higher by 3.4% to $34.95 Wednesday afternoon after the company announced October deliveries of 40,422, up 302.1% from last year.

What Else?

The 40,422 deliveries in October 2023 represents a remarkable 302.1% YoY increase. The cumulative Li Auto vehicle deliveries in 2023 reached 284,647 by the end of October.

Li Auto says the company has maintained its lead as the best-selling premium brand among SUVs in China, with their Li L series dominating their respective market segments.

Additionally, they are generating excitement for their upcoming Li MEGA 5C BEV model, targeting multi-generational households.

See Also: Why Sunrun (RUN) Stock Is Moving

According to data from Benzinga Pro, Li Auto has a 52-week high of $47.33 and a 52-week low of $15.37.