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Sept. 22, 2022, 7:40 a.m. EDT

Li Auto stock jumps after moving up launch of 6-seat SUV Li L8, priced just above $56,500

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By Tomi Kilgore

Shares of Li Auto Inc. /zigman2/quotes/219811686/composite LI -3.05% surged 6.2% in premarket trading Thursday, to bounce off the previous session's four-month closing low, after the China-based electric vehicle maker said it was moving up the launch of its Li L8 six-seat sport utility vehicle (SUV) to Sept. 30 due to strong demand. The company said it will unveil the Li L8 on Sept. 30, priced below RMB400,000 (about $56,532) with deliveries to start in early November. "We decided to move our launch date for Li L8 forward based on overwhelming market response in anticipation of its release," said co-Founder and President Yanan Shen. Li Auto's stock has tumbled 37.2% over the past three months through Wednesday, while shares of rival NIO Inc. /zigman2/quotes/204905836/composite NIO -5.52% have dropped 18.9%, the iShares China Large-Cap ETF /zigman2/quotes/208670743/composite FXI -1.40% has shed 16.4% and the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.08% has ticked up 0.8%.

/zigman2/quotes/219811686/composite
US : U.S.: Nasdaq
$ 21.33
-0.67 -3.05%
Volume: 11.64M
Dec. 1, 2022 2:35p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$19.48 billion
Rev. per Employee
$478,092
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/zigman2/quotes/204905836/composite
US : U.S.: NYSE
$ 12.08
-0.71 -5.52%
Volume: 49.55M
Dec. 1, 2022 2:35p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$18.68 billion
Rev. per Employee
N/A
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/zigman2/quotes/208670743/composite
US : U.S.: NYSE Arca
$ 27.77
-0.40 -1.40%
Volume: 32.03M
Dec. 1, 2022 2:35p
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/zigman2/quotes/210599714/realtime
US : S&P US
4,076.69
-3.42 -0.08%
Volume: 0.00
Dec. 1, 2022 2:35p
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