By Jiahui HuangLi Auto shares rose sharply after the Chinese electric-vehicle maker posted strong orders for its first model priced under 300,000 yuan, or equivalent of nearly $41,452. The rise came after Li Auto said Saturday that orders of its L6 model reached 30,000 units since its launch on April 18. The orders of the L6, Li Auto's newest model, helped investors look past the company's lackluster April deliveries, which expanded at the lowest rate in almost two years, analysts said. Among them, 24,878 were Seres-branded cars, fewer than Li Auto's 25,787 vehicles. Seres shares were 2.0% higher in Shanghai trading.

Source: Wall Street Journal May 06, 2024 04:39 UTC