Chip Hoarding Now in China’s Sights Hits EV Upstart Li Auto
- President says company has to ‘fight each day’ for chip supply
- Automaker lists in Hong Kong after $1.5 billion share sale
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Chinese electric vehicle startup Li Auto Inc. has been affected by the hoarding of semiconductor chips that has become the latest target of a government crackdown.
“We probably only have visibility of the next two or three weeks” of chip supplies, President Kevin Shen said in an interview with Bloomberg TV ahead of the U.S.-listed automaker’s debut on the Hong Kong stock exchange Thursday, which saw the shares fall. “We have to fight each day for the coming weeks supply.”