Why Li Auto Shares Are Moving

Li Auto Inc LI shares are trading lower by 4.7% to $30.16 Tuesday afternoon. Shares of Chinese EV stocks are trading lower amid China weakness following recent media reports linking Baidu’s large language model to key military research in China. The EV space may also be down in reaction to recent Tesla Inc price cuts in China.

What Happened With Tesla Price Cuts?

Tesla has decreased prices for its entry-level Model 3 rear-wheel drive in China by 6%, now priced at 245,900 yuan, and the long-range version at 285,900 yuan.

Selected versions of the Model Y SUV also saw price cuts of up to 2.8%, with the rear-wheel drive version now at 258,900 yuan and the long-range version at 299,900 yuan. The Performance edition of the Model Y maintains its price at 363,900 yuan…Read More

According to data from Benzinga Pro, LI has a 52-week high of $47.33 and a 52-week low of $20.80.