Li Auto January Deliveries Rise More Than 350%, But Stock Falls

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Shares of Li Auto Inc. LI, -0.65% fell 3.2% in premarket trading Tuesday, in the wake of the China-based electric vehicle maker’s announcement overnight that January deliveries grew more than four-fold from a year ago. Li’s report comes a day after fellow China-based EV makers reported January deliveries, in which Nio Inc.’s NIO, -0.02% jumped 352% and Xpeng Inc.’s XPEV, +2.26% hiked up 470%. Li’s deliveries rose 356% to 5,379 Li ONE SUVs. Separately, the company said it established a new research and development center in Shanghai, aimed a developing EV technologies, such as high-voltage platforms, ultra-fast charging technologies and autonomous driving technologies. Li’s stock has rallied 40.0% over the past three months through Monday, while Nio shares have climbed 71.0%, XPeng’s stock has soared 138% and the S&P 500 SPX, +1.61% has gained 14.0%.

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