- NASDAQ:LI surges 12.59% during the first trading session of 2021.
- Li Auto reports a new monthly and yearly sales records for 2020.
- Li opens seven new retail locations in China in the month of December.
NASDAQ:LI paced the electric vehicle sector to begin the year as strong sales numbers from all of the major brands helped overcome what was a shaky end to 2020. On the first trading session of 2021, Li gained 12.59% and closed the day at $32.46, just below the stock’s 50-day moving average. Like many Chinese electric vehicle stocks, Li had taken a hit from the allegations of fraud against Kandi (NASDAQ:KNDI). Investors were once again reminded of the risks in investing in international companies that may not incorporate the same regulations on book-keeping as in America.
Like many of its rivals, Li posted phenomenal vehicle delivery numbers in the fourth quarter of 2020, as well as throughout the rest of the year. The quarterly vehicle deliveries came in at 14,464, bringing the total for the year up to 32,624. Incredibly, Li showed an impressive quarter-over-quarter increase into the fourth quarter, which saw nearly 45% of the total vehicles sold during the year. The figures put up by Li were more than both NIO (NYSE:NIO) and XPeng (NYSE:XPEV), which are generally thought of as the industry leaders in China.
Li Auto stock price news
Li also opened seven new retail locations in China during the month of December which expanded its presence in the country to 41 different cities. While NIO and XPeng are usually the names investors see as synonymous with the electric vehicle revolution happening in China, Li is quietly going about its business and leading the way with its uber-popular Li ONE SUV.
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